Accountability

After viewing Inside Job we had a nice discussion about accountability. I really enjoyed how Ferguson showed that no one took responsibility but instead played it off as if they had no idea what had happened. It is really interesting because the “Securitization Food Chain” as the movie labeled had many people from all different sectors involved. It was almost as if everyone from Investment banks, to mortgagers, to lenders, to insurance agencies all had incentive to continue selling as they were all making money. It was more of a time of extreme greed. Because of all the moving parts, it is hard to place accountability on just a few people but it is also clear that the people interviewed had a much bigger role and knowledge as to the corruption they were involved in. It is a shame they acted so innocent. After thinking about it though, put yourself in their shoes. Obviously what they did was wrong, but I cannot imagine it being easy to take responsibility for causing a global recession that resulted in millions of lost jobs while you sat back and earned millions and millions of dollars. Obviously, taking accountability for your actions is something you learn growing up to be a gentleman or a lady. The corruption of these men was not very gentleman-like at all and therefore I believe them stepping up and taking responsibility and accountability for their actions is much easier said than done.

One thought on “Accountability”

  1. I agree, I think accountability is a very large issue. But I think the issues stems from earlier problems. The fact that these people find it acceptable to cheat, lie, and steal shows more of a moral issue. They have been acting in this way for so many years. I think that it deals with more than simply accountability. It deals with, I would go so far as to say, their morals. Maybe that’s taking it too far.

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