ECON120 San Diego Mesa Giant Pool of Money Video Paper

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byvivnjneare

Economics

ECON120

Description

In one to two pages, single spaced, font and margins similar to this size, summarize the show. In your summary, correctly use three key terms from your textbook. Underline the terms and indicate which chapter and page (or section) they are from. I will lose credit if it goes over two pages.

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Explanation & Answer

Attached.

Running head: VIDEO DISCUSSION

Giant Pool of Money Video
Name of Student
Institution Affiliation

1

VIDEO DISCUSSION

2

Giant Pool of Money Video
Prologue
The speaker provides the background of the recording in Spring 2008 April when the
economic growth was going down (Mankiw, 2009; Chapter 12 page 336). He explains that the
dinner more like Oscar
Manhattan and a Wall Street small group of specialized financial experts were giving Awards to
people who invented financial securities, including the ones that were destabilizing financial
systems globally.
Jim Finkofff was up to CDO of the year award for the CDO he created and he was a bit tense.
The irony was that they were not sure that the recession was about to affect the world negatively
as they awarded each other. They did not know what they had done was one of the worst
financial speculations ever. 300 billion dollars was already lost by people in the room but the
speaker said that the worst was over as they thought that it was going to pick. However, that
never came true and Jim was wrong as five months after the dinner everything collapsed forcing
the federal government to collapse and rebuild or bail out the entire economy.
By the time of the dinner 30% of Jim’s company had lost of all the and later, he confessed they
lost 3 billion dol...


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