Need an argumentative essay on Response Paper to Documentary: The Financial Crisis. Needs to be 3 pages. Please no plagiarism.This essay describes the documentary, that gives an in-depth overview of t

Need an argumentative essay on Response Paper to Documentary: The Financial Crisis. Needs to be 3 pages. Please no plagiarism.

This essay describes the documentary, that gives an in-depth overview of the causes of the 2008 financial crisis, and the consequences and the responses by governments across the world. The researcher states that from the documentary, it is clear that the easy lending in the United States housing market caused a building boom leading to the crisis. Financial institutions were giving mortgages to people who did not have the capacity to repay them. The documentary thus highlights the idea of fraudulent practices by financial institutions whose main driver was the desire to make profits. It is clear that most of these institutions lacked the clear understanding of the real effects of their practices. However, the most crucial aspect of this is the lack of proper regulation from the government. As the financial institutions were engaging in these illegal practices, the United States government failed to stop this. The researcher explains that the poor regulatory framework meant that the problem continued to escalate. The documentary also highlights the panic that set in when the alarm bells started to sound. Many of the citizens across the United States and other countries were withdrawing their money from the banks fearing that the banks were on the verge of collapsing. As noted, such panic only helped to make a bad situation worse. In conclusion, the possibility of another crisis occurring is real. The documentary shows that although the 2008 crisis may be over, the real effects might occur later.