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From A (Documentary-FILM) "INSIDE JOB"
Finance & Accounting
Pages 5 (1255 words)
Although it is difficult at pinpoint a single factor that is the most convincing with regards to actually causing the 2007/2008 financial collapse, it is the belief of this author that if a determinate factor can be found, it is the overarching lack of regulatory constraints that existed within the financial markets.
Naturally, as successive presidents, both Democrat and Republican, allowed for further and further deregulation to take place, the levels to which private industry were able to stray into previously uncharted waters, was a fundamental determinate with regards to what was actually precipitated. Although this deregulation was of course a massive contributor factor, one must also consider the means by which the individual private firms themselves self regulated. This is of course a separate issue and one that cannot be overlooked. Ultimately, just as with regards to the levels of government and financial regulation that it previously determined the systemic approach that firms took to business, a corresponding drop with regards to self-regulation was also realized; thereby providing something of a perfect storm by which the financial collapse was able to be realized. Similarly, with regards to the stakeholders that can ultimately be blamed for this collapse, it is the belief of this student that these stakeholders break down into the following three groups: government, key leadership within the firm’s, and lower-level employees. The list that has been given has been related from the most culpable to the least. ...
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