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Lies, Lies And More Dirty Lies That The Government Tells Us By Jesse Ventura

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Jesse Ventura’s book, American Conspiracies: Lies, Lies, and More Dirty Lies That the Government Tells Us, is a collection of controversial theories about various historical events in the United States. The book highlights the author’s belief that the government is hiding many secrets from its citizens, and its primary objective is to maintain its power over the people. In chapter 13, titled “The Wall Street Conspiracy,” Ventura claims that the U.S. government has been in cahoots with Wall Street bankers to exploit the financial system for their benefit, and that it was the main reason behind the 2008 financial crisis. This paper aims to provide a critical analysis of the book's claims and assertions in chapter 13 by analyzing the arguments presented and examining external sources. Jesse Ventura argues that the government and the financial industry work together to manipulate the financial system for their benefit. He claims that Wall Street bankers had prior knowledge of the impending 2008 financial crisis and used it to their advantage, while the government turned a blind eye to their illegal activities. Ventura cites the role of the Federal Reserve, the Securities and Exchange Commission (SEC), and other regulatory agencies that failed to prevent the crisis. …show more content…

He argues that the bankers knew that the housing market was a bubble and would burst, and they used this information to their advantage by selling risky mortgage-backed securities to unsuspecting investors. This argument is supported by the documentary Inside Job, which examines the financial crisis and its aftermath. According to the documentary, Wall Street bankers intentionally exploited the housing market for their benefit, leading to the collapse of the financial system (Inside Job,

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If there was ever a word to describe the events that led up to the financial crisis of ’08, “Moral Hazard” would fit the bill perfectly. Moral hazard happens in financial terms when the success of a particular transaction is very heavily dependent on the performance of a particular party’s obligations, but where a particular party has no interest or incentive to carry out that obligation diligently. Let’s for instance take the example of a loan worth $720K, which was given to a strawberry picker earning around$14K/year to acquire a certain piece of property in the early 2000’s . In this case moral hazard was there and existed because the loan company intended to sell the loan forward to the credit rating agencies due to the inability of the

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The Dodd-Frank Wall Street Reform and Consumer Protection Act was the federal government’s reaction to the financial crisis of 2008. The Dodd-Frank act symbolized the government’s regulatory stamp on the banks in the United States . This regulation from the Dodd-Frank Act set the goal to lower dependency on the bank federally by setting up regulations and tampering with companies that are deemed “Too Big to Fail”. Before the enactment of the Dodd Frank act, it took many obstacles to produce the content provided which sparked from the issue at hand with the financial downward spiral and the decisions as well as actions from overseers such as: the Secretary of the Treasury Hank Paulson and the presiding president George Bush. Two men emerged

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In All the Presidents' Bankers, Nomi Prins argues that the associations between the leaders of the largest banks and the presidents of the last century influenced economic policy in the U.S. and other countries. The presidents and the bankers worked together to make the U.S. the most powerful nation in the world. However, the bankers wanted power and profit without regard to the harm they caused people in the U.S and other countries. Although Prins’ commentary is biased, her arguments are well-supported and based on extensive research. Prins’ book is well-organized chronologically by time periods in history and presidents.

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When many people bought stocks on margin, with the mindset of “buy now pay later”, eventually caused the Stock Market Crash of 1929. When the stock market crashed in 1929, most people ran to their banks demanding their life savings back in cash, but the banks didn’t have enough money to do so, therefore they went out of business. This was the banking crisis. According to document 2, the caption reads, “Disbelief turned to panic as people besieged [stormed] the banks (this one was in New Jersey) trying to withdraw their life’s savings — often too late.” This helps demonstrate the mentality of many Americans who had their life’s savings in the bank, and how this conflict of banks going out of business started.

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In Thomas Cushman’s article, “The Moral Economy of the Great Recession,” he alludes to the borrowers’ greed when he states, “Many American homeowners bought houses they could not afford, signed mortgage agreements they could not understand or which were misleading, and took equity out of homes as if they were cash machines.” In the end, many borrowers lost their homes in foreclosure and never financially recovered. The lenders are the second of the key figures. Their loans were insured by the government, which further drove their greed, as repayment was guaranteed. This drove lenders to approve mortgages for individuals who could not afford them.

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Although Jackson was successful on combating speculative investments, people were unable to pay off their debt which caused a financial crisis for banks. Risky investments in property and the Specie Circular intertwine as a new contributing factor the panic that would come in

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Ventura suggests that the government’s bailout of the banks allowed them to continue their illegal and unethical activities without any repercussions. Ventura’s claim here is exaggerated yet still holds some truth to it. Many criticize the bailout as it did not hold banks properly accountable for their role in the financial crisis and instead gave them a way to escape consequences for their actions. According to the New York Times, the government did in fact, impose conditions on the banks that received bailout funds, these conditions were not always enforced, were later completely lifted, and there was very little oversight on how these funds were used meaning banks could have used the money for purposes not intended. Ventura says that the bailout was a way to protect the interests of the financial elite at the expense of taxpayers because bailouts were paid for by taxpayer money which many people saw as unfair and unjust.

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Introduction The Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law in 2010, is one of the most significant pieces of financial legislation enacted in the United States in recent history. This legislation was a response to the financial crisis of 2008, which exposed critical weaknesses in the financial system and caused widespread economic distress. The Dodd-Frank Act contains numerous provisions designed to address these weaknesses and prevent future financial crises. This essay will explore the impact of the Dodd-Frank Act on participants in the financial services sector, as well as how it affects individuals. Additionally, this essay will analyze the dynamics of the issue and the ongoing debate surrounding the effectiveness

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The Wall Street con game, already working full motion, had convinced millions of Americans that the country was riding on an upward spiraling wave of financial glory. Both rich and poor put their money into stocks and bonds. The Wall Street myth, broadcast by the Insiders' newspapers and magazines, spotlighted stories of shopkeepers and workers making fortunes in the stock market

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Secondly, mortgage brokers are seen giving out multiple million dollar loans to anyone and they were actually targeting people they knew couldn’t afford it. This is illegal and very unethical. This also led to the housing market collapsing.

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