Exploration 8

      The thing that stood out the most to me about this film is how all the bankers got away with out punishment and then after the crisis continued following the same practices. Also the fact that president after president kept appointing former bank CEO's to position is the government. This troubles me because since they were former bank executives they have a conflict of interest; they will pass laws and regulation that benefits banks. The ramifications of this, is that as long as former bank members keep being reappointed, there will never be any serious laws or regulations past to restrict the near criminal activity of banks.

    The fact that the banks control both parties make me feel that there is no way to win. No matter which party we elect the government will continue to take orders from big banks. The wall street execs pay off anyone who has an important position in the government. They use lobbyists to harass and bribe government officials. This never changes even when the president or congress change. The president just reappoints the same bank CEO's who worked for the previous president.

     Serious reform is needed to prevent this from simply becoming a vicious cycle. There needs to be more strict regulation, especially on mortgage lending. As well as betting against bad loans. The fact that banks can bet 13 or more times there capital is ridiculous. Also the fact that credit rating organizations were allowed to give AAA ratings to terrible loans and things was insane. That sort of straight up lying should be illegal. I don't care what the rating companies say.

"Credit ratings are opinions."
                                       -Fitch Executive when interviewed by congress.

Opinions they may be, but when people treat them as fact, they should at least be truthful.

A good place to find out more about the stock crisis is:
<http://www.money-zine.com/Investing/Stocks/Stock-Market-Crash-of-2008/>