The Divided States Of America Analysis

The Divided States of America is a PBS documentary. Throughout this documentary PBS describes how the United States has become so divided socially and politically. They take a look into all of the events that have put America into its current state. Interviews, press conferences, racial disputes, and the 2008 financial crisis are all covered in this film. The actions made by big banks were extremely unethical and it forced the government to bail them out. The corrupt big banks were full of greed and poor ethics. Mortgage approval rates were much too high which led to many more home buyers. This caused housing prices to rise like crazy. Mortgage companies and banks were lending money to people that should not have been lent money. They were falsifying loan documents in order to make a loan and obtain fees regardless of risk. Money was being borrowed to people
These investments are often considered to have the lowest risk. To help with this problem the Treasury had to insure these investments for a year. For a short amount of time the U.S. Securities and Exchange Commission banned the selling of unowned shares within the market. The U.S. government purchased all of the bad mortgages because the banks were afraid of lending to one another. Many firms had to file for bankruptcy because of their inability to raise capital. All of these actions were highly debated throughout the white house and I believe the government made the right decision intervening. The 2008 financial crisis was all around a bad situation. The poor ethics and greed of banks eventually led to their own downfall. It was expensive, but the government did all that they could do to minimize the consequences of the crisis. I may disagree with some of Obama’s political views, however, he and his administration did an astounding job considering the situation they were placed