Victor Rangel

The team's interpretation did a good job by explaining the history of banks and

how we got here where we are today, at first banks lent to people with good credit since

they were a small business and couldn't risk borrowing money to people who could not

pay back. I learned that banks nowadays do not care if loans were paid back because

more CDOs means more profit for them since investment banks created the derivatives

called Collateralized Debt Obligation.

Furthermore, I also learned that the debt caused in the bubble of 2001-2007 was

formed mainly because the more money borrowed, the higher the leverage. It was

inevitable that the crisis would come eventually and people responsible for the crisis

were not held accountable for it. Those people (CEOs) kept their fortunes while very

respected economists were hired as consultants to companies.

In my opinion, it is not possible to fully control greed by legislation, it is

possible to create more barriers to reduce personal gains that would encourage greed

actions. A person can control his own greed but is unable to control others. People tend

to always want more money/assets, and this is fine unless it is putting someone else at

risk. To conclude, I would say that the best way to control greed in the business

environment is to balance risk and reward.

My group in researching Costa Rica, currently bank the of the country decided it

will give continuity to its expansionary and countercyclical monetary policy. Costa Rica

i salso providing financial aid for citizens most affected by COVID, and just like in the

U.S there are requirements for someone to be eligible, According to na article on

thecostaricanews, the government is allocating ₡ 296 billion in social aid and 612

thousand people are expected to receive the benefit