Question

Describe and analyze 2 different real-world issues or situations you see as government failures

Answer 1

There has been many government failures from 2001-2014,like in 2001 terrorist attack on 9/11,financial collapse in 2008,Hurricane Katrina in 2005,Gulf oil spill in 2010,Abu Gharib prison abuse in 2004.Among these few were government oversight and few were operational failure of the government.

The 2001 terrorist attack on 9/11 was oversight.Even though there were warnings about the attack , the al-Qaeda terrorists hijacked four commercial airliners on 11th September 2001.These were used as missiles to attack the twin tower of world trade in New York city and the pentagon. The 9/11 attack was due to intelligence failure and policy failures which preceded the attack. It was a lack of national intelligence estimate of the threat that the terrorists made between 1998 and 2001. Had it not been so ,it might have helped decision makers to stop the attack.However research shows that 9/11 attack was not because of intelligence failure but of policy failure.

The financial collapse of 2008 was also an oversight of the government. There was risky investment for years with little or no regulation.As a result of which the banking system failed because of mortgage loans which proved to be risky and financial instruments which were very poorly understood.So there was credit crisis due to which the economy collapsed.So the housing boom and bust led to financial breakdown in US and other countries.The cheap dollar monetary policy of the government was instrumental in inflating the housing bubble.When the government realized about its loose monetary policy it tried to control its loose monetary policy as a result there was steep decline in housing prices which produced chaos in financial market.