Financial Crisis. Financial Crisis. For this paper, please watch the movie Overdose: The Next Financial Crisis by Journeyman Pictures. The movie chronicles the lead-up to the 2007-2008 financial crisis and also mentions implications for the future.
The movie is 46:21 minutes and available for free on YouTube in its entirety at: https://www.youtube.com/watch?v=4ECi6WJpbzE
After watching the movie, you should write a two-part paper addressing the prompts below; the completed paper should be a total of 4,000-5,000 words.
Part 1: Summary of Events (400-500 words)
Briefly summarize the events and activities from 2001-2007 that led to the housing bubble.
Terms/parties to consider: “Punchbowl, Fed alcohol- lowering of interest rates; ‘NINA’ loans; moral hazard; government sponsored entity (GSE); rating agencies/conflict of interest and mortgage-back securities.”
Part 2: Statement of Opinion (400-500 words)
Consider the following in your reaction: $700BB Purchase of troubled assets, (formerly known as Troubled Asset Relief Program- TARP perhaps not explicitly mentioned.); criteria of bank bailout; $787BB stimulus plan (American Recovery Reinvestment Act) According to the picture, how much was truly stimulus? You can also google ‘How to Spend $787 billion- NY Times for further clarification.
In 20-20 hindsight, how do you think it was handled? What do you think should have been differently, if anything?
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