I came to understand that the Federal Reserve Board and these bakers colluded so as to flood the market through the issuance of easy loans that gave those returns but in the end plunged us and the world into the biggest financial crisis using technology to fuel their sadistic ambitions.
This view Uncle, is shared across the board, as in the documentary, Martin Wolf, Chief Commentator of the Financial Times says that, “I think this was, in fact, in retrospect, a great big national —and not just national, global —Ponzi scheme.” (The Inside Job, Part II) The Ponzi scheme caused the loss of jobs of many Americans and lost the homes of innocent owners who were taken advantage of by these bigwig executives and financial experts who walked away unscathed from this calamity.
This is the reason why Americans were never informed of these trends in the economy until the crisis actually happened (Dean, 24). The greed and corruption thrived since there exists no real relation between the state and the people and the free America that we know is nothing but an ideal. In reality, the big corporates do not care for us.
The Federal Reserve in conjunction with the big banks like Goldman Sachs among others played a critically destructive role using the internet and online platforms to sign up throngs of ‘lucky’ bankers who never had the potential to repay them (Dean, 23). Although the deregulation did go far, the bank risk analysts also failed to voice their concerns and in essence also contributed to the crisis (The Inside Job, Part I).
The use of the internet was extensive as these all-knowing executives invested in internet companies they knew would eventually fail just as the investigation by Eliot Spitzer revealed. Readings form the book helped me to conceptualize the perspective that through technology, just as David Harvey in his