2007-08: The Great Depression

In 2007-08 the biggest economic crash since the 1930 “Great Depression” occurred . A great deal of people believe in the system and that the people working in the system know what they're doing and have everything under control. When people put so much trust in the bank's, home realtors, salesman, mortgage brokers and don’t do their own research they get tricked. Honestly the typical person doesn’t know everything about mortgages or loans and the interest rates. So in the early years leading up to the economic crash in 2007-08. The ones most affected by the crash were homeowners and investors.

In the movie only a small group of people knew what was happening they took the time to run the number because they were in that business everyone else had no clue . The first person that noticed and challenged the banks was Michael Burry he made predicted that the housing market would crash and he wanted to make a bet against it. The banks didn’t even think twice all they saw was a pay day they didn't believe for a second that anything he said would happen. They were more then happy to take his money because everyone said that “housing market was stable and low risk” I mean who could argue with that. All these professional people are telling you there is nothing wrong who are you a regular person to challenge their expert opinion? …show more content…
This is a good demonstration of how people can be driving crazy by money that they don't care about anything else. The financial crisis was both positive and negative , it help put things in perspective that the economy is such a fragile thing and it needs to be monitored from every angle. The negative part is a great deal of things were impacted five trillion dollars in people's saving , 401 k plans , pensions all gone. Eight million people lost their homes and everyone that should have been punished for what they did never