Mae

Mae Carol Jemison is an African-American physician and NASA astronaut. On June 4, 1987, she became the first African American woman to be admitted into the astronaut-training program. On September 12, 1992, Jemison flew into space with 6 other astronauts aboard the Endeavour on mission STS47. On that day, she became the first African-American woman in space. Mae Jemison was born on October 17, 1956 in Decatur, Alabama. She grew up in an extended family home with both of her biological parents; Charlie Jemison and Dorothy Green Jemison. According to biography.com, she grew up in a working-class family, as her father was a roofer and carpenter her mother was an elementary school teacher. She is the youngest of three siblings. “Her sister, Ada…

20. If you didn't have to go to school, what would you be doing the entire day? 21. Who do you think is the sexiest celebrity on the planet? 22. If you were given a choice of playing basketball, baseball or football, what would it be? 23. What was the ugliest rumour that people made about you? 24. Have you ever failed in a final exam and was detained in the same class? 25. Have you ever played a prank on a class teacher and gotten away with it? Valentines party games for guys: 1. Who…

people into subprime loans when they were not able to afford them. Incentives for homeowners to avoid responsibility were created by states not allowing mortgage holders to go after homeowners when the defaulted on their mortgages. To remedy these factors the government could increase regulation on the mortgage industry and revamp tax credits on mortgages (Pozen, ch. 1). The “Federal National Mortgage Association (Fannie Mae)” and the “Federal Home Loan Mortgage Corporation (Freddy Mac)” were…

Freddie Mac in 1970, which was similar to Fannie Mae. The two mortgage associations enjoyed the privilege of government guarantee. They converted mortgage into bonds through asset securitization on market for sale, which attracted investment banks and other financial institutions for purchase. A question raised as why banks sold their mortgages to those people with low credit and high risk of default, but the real question is what should they do without loaning money to these people. If other…

found out it was due to pity; yet, they remain to be friends coexisting in pleasant environment. Their relationship hence how direct they are with each other even if their opinion were not asked. In chapter 6, Ella Mae states how Bob cleans up very nicely for Alice. Thus, Bob replies in a sarcastic tone, “I’m tryna turn white” (47). Alice, Bob’s girlfriend is a light-skinned highly educated social worker who comes from a wealthy family. Her family background, current social status, Caucasian…

In 1970, 32 years after the creation of Fannie Mae, the U.S. government chartered Freddie Mac. However, the company became shareholder-owned, while keeping its government perks. The company doesn’t pay income taxes, have credit lines with U.S. Treasury, and can borrow at a low price because lenders assume the government will help them if they get in trouble. Investors knew Freddie Mac as “Steady Freddy” due to its predictable earnings. During their statistics-filled speeches, bankers used to…

The Financial Crisis of 2008 has been attributed to various entities or regulations. While most of these conjectures make valid points, attributing such an immense series of events to just one or two entities or regulations is benighted. Arguably, what set the precedence for the ensuing crisis is influenced by who you ask but, a case can be made for the most apparent events that did impact the crisis. The names Fannie Mae, Freddie Mac, CRA (Community Reinvestment Act 1977), and AIG are just a…

The business scandal that occurred at Fannie Mae Chocolate Industry was when they manipulated accounting to collect millions of dollars in underserved bonuses and deceive investors. They were fined for 400 million dollars. Fannie Mae struggled to emerge from an $11 billion accounting scandal.The penalty that was given for them was the largest penalty ever in a accounting fraud case.The company also agreed to limit the growth of its multibillion-dollar mortgage holdings. Fannie Mae never admitted…

In his essay “The Mansion: A Subprime Parable,” Michael Lewis reported that most Americans tend to desire houses they cannot afford. They start blaming rating agencies and mortgage brokers because they find themselves financially underwater. But according to Lewis claim, the lending business didn’t create this desire. The people did. He explains that most people want a house that reflects how well they are. They think that they will control the house but the truth that the house controls every…

and interest on mortgage-backed securities. Freddie Mac is a government chartered corporation (1970) established to purchase mortgages and mortgage- related securities. It issues bonds and securities in secondary markets. Secondary market is a very important player in the mortgage business. It provides liquidity in the market. Let us assume that a bank wants to sell one or more mortgages but no one else wants to purchase them. That is where any of the three above-mentioned public investors…