The Great Recession

The housing price bubble, collapse, foreclosures, bailout of underwater mortgages
Subprime mortgages and derivatives, bailout of FNMA, Freddie Mac and AIG
The banking industry crisis, bailout of commercial and investment banks
Write a 350- word analysis of 1 of the following corrective actions taken by the Federal Reserve as a result of the crisis:

Quantitative easing
Purchase of toxic assets from financial institutions
Paying interest on reserve balances
Address the following in your analysis:

Actions taken by the Federal Reserve to mitigate the crisis
How the corrective action helped to restore stability to the financial system
How the corrective action should prevent recurrence of a similar crisis
Note: Use of charts and graphs is encouraged with appropriate citations. Any charts or graphs retrieved from the Federal Reserve Bank of St. Louis FRED website may only be included when the data sources used by FRED are US government sources such as the Bureau of Economic Analysis or the Bureau of Labor Statistics.

Sample Solution

The close-up presents a dualistic paradox for the viewer. There is an intimacy in the proximity of the shot which, as severed from the ‘bigger picture’, necessitates the abstraction of information; the close-up, in its narrow perspective, refers viewers beyond the immediate. The multitude of close-ups of Tautou’s face, presents Tautou iconically, as they create a pause in the film, providing the audience with multiple instances to reflect on the image in and of itself. The power of the close-up comes from the referential value attributed to it. The close-ups of Tautou therefore give the audience an opportunity for their own autonomous imaginative response to the film by pausing the action visually and temporally. As such, the close-up is a strategy that exemplifies greater themes of the film: the spectator and the significance of the image. In presenting Tautou’s face so iconicly throughout the movie, Jeunet is provoking the relationship between film and spectatorship and subverts Hollywood’s mindlessness through creating providing a platform in which the act of autonomous thought is curated.

As an international director, trained in advertisement, and having completed a big-budget Hollywood film, Jeunet uses his understanding of the power of the image to empower his audience to acknowledge the mechanised, technically enhanced visuals presented in Amélie.

Jeunet understands the role of the watcher, the consumer of media, and in the era of Hollywood’s cultural hegemony, Jeunet uses the power of the image, the spectacle, and the cinema, to subvert Hollywood’s hegemonic experience, to creating a platform for autonomy within Amélie. Crafted with a deep understanding of the role of the image in contemporary society, Jeunet’s film expertly empowers the audience beyond mere consumers of media, without isolating itself from the contemporary context, while also film serving as an homage to French cinema.

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