Paratroopers roll to dissipate the kinetic energy associated with the fall. As the ground is, for all intents and purposes, an immovable object, landing directly on your feet would bring you to an immediate stop, and as the body has no way to naturally counteract the energy which has nowhere to go, severe injury would be likely.
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the reason that parachutists bend their legs and roll is not because it looks cool, it is so that when they land they act like a human shock absorber so the shock is absorbed in their legs so that when they land they don't shatter their leg bones. looking like a badass is just a side effect. :) you can try it if you want do a small jump and land with your legs straight and it jolts you far more than if you bend your legs but don't do it too much as it is bad for your legs