Monday, February 20, 2012

Blog Post 2

The kind of corporate culture that is depicted from "Inside Job" is that it is all about the money and how the money was unevenly distributed. Also it potrayed the corporate culture as decieving and not ethical at all. For example, the family who could not speak any English to me seemed like they were tricked into buying that house without even really knowing what their payments would be. This is how the corporate culture contributed to the financial collapse. At that time they let anyone get a mortgage knowing many of them couldn't pay it off. This kind of culture can be considered in the ideas of Friedman by his theory of monetarism. It was basically saying that all the policy makers made bad decisions that let a lot of money enter the economy when they should have just let it be and let it balance itself out. Those ideas play out in Great Britian is how the government is trying to tax people so they can use the bridge to make money, when what they should be doing is letting it go and having it settle on its own.