Inside Job Summary In Iceland the banks loaned billions of dollars to people who used the money to buy yachts and penthouses These banks in turn borrow billions from other banks to make up for the loan deficits Because of this unemployment skyrocketed and millions of people lost their life savings The Lehman Brothers bankrupted and the American International Group AIG entered into a financial crisis recession Reagan called for a thirty year de regulation but the savings and loan companies failed 124 billion was lost The Citigroup Relief Act also known as the Grahm Leach Bliley Act was to pardon the merger The 2001 internet stocks crashed and lost even more money Criminal activity and frauds were punished by fines that amounted to only a small portion of the banks and corporation s profits and even more money was given freely to bail these companies out Lenders started making riskier loans because they stopped caring whether or not they were paid back The investment banks favored the subprime loans because they made more profits with them AIG the world s largest insurance agency spent 500 billion in credit default swaps and gave million dollar bonuses to its CEOs These CEOs then wasted the money on private jets strip clubs million dollar homes prostitutes and cocaine other drugs Goldman Sachs bet against stocks they advised their clients to invest in so either way they would benefit monetarily They did not bother telling their clients that they bet against the same securities they recommended Bear Sterns lost its money in 2008 and was bought by Stern at two dollars a share These are the kinds of unfair and corrupted activities occurring amongst the banks and large corporations today and they have been recurring for years now In the end it all comes down to who has the power to cheat the weaker man out of a few bucks