Subprime lending

Personal Statement It was the financial crisis in 2008 that sparked my ever-increasing interest in economics and politics. As I got older and learned about the causes of the financial crisis, I began to question how and why only few experts were able to predict the crisis, causing my initial curiosity and determination to further pursue these subjects. What fascinates me most about economics is its ability to be applied to the real world. The knowledge I obtain in my economics class allows me…

When consumers consider refinancing a home mortgage loan, they often wonder if they should refinance their mortgage or not. There are many reasons to refinance a house, so when considering a refinance, it is important to make sure that there is a benefit to the new home loan. Without a benefit to the new home mortgage, there is no need to refinance. Lower Monthly Mortgage Loan Payment One of the main reasons people consider a refinance home loan is to lower the monthly payment. Refinancing can…

In the 1920’s, the stock prices kept increasing and rose to a peak in August 1929. Stock prices increased more than four times, which led investors to believe that the stock market would keep booming. So, they continued to borrow money from banks and put it in to the stock market. Finally, the stock market crashed in 1929. After the crash of the stock market, tons of investors could not pay back money they borrowed from banks previously. Indirectly, this caused lots of banks to declare…

What does it mean to be “credit worthy” and why does everyone care so much? Is it actually that important? Credit scores in today’s society can actually be critical. They are used as a determination of a borrower’s risk. They are used to determine insurance rates. They are used to obtain application approval for rental properties. They are even used in consideration of new job candidates. Because of the various implications of a credit score, the “grooming” of credit has become a major industry…

Steve and the Cracking of Spirit While Steve provides a variety of resources for the articulation of potentially resistive politics within spaces of control, in recognizing memes as pharmakon, any modal analysis would be remiss without acknowledging the potentially negative side effects. Specifically, the Old Economy Steve meme promotes generational conflict that can reify the dissociative logics that embolden the proletarianizing force of control. Specifically, while the criticism offered by…

Dear Accounting Assistant Dooley, I understand that my past due account is what I owe to UNLV, and I have done my due dilligence to attempt to pay back this amount in full. Although I have essentially went missing for over 2 years, this disappearance was due to extenuating circumstances. As implied in my first e-mail, I faced severe financial hardships which became obstacles to my ability to make any payments to my past due account for over 2 years. In fact, I became homeless for several months…

Homeless population is increasing by seven percent each year, and forty-two percent of the population is considered to be living in poverty. Eleven thousand people have been displaced from their homes with no justification. The Hispanic population has decreased by fifty percent, with an overall minority population expected to decrease to thirty percent in a few short coming years. One hundred thousand dollars a year will roughly get you by and four thousand dollars a month can get you a small…

Are you struggling with foreclosure? Foreclosure, a word that makes many people panic, is at rise these days in Florida. It is a situation which arises when a borrower becomes unable to pay back the mortgaged amount. The fear of losing your home is overwhelming - it is a person's most valuable asset connected to deepest feelings and precious memories. It is almost impossible to think about anything else when you are faced with such an irreparable loss. And yet, you must not wait and lose hope.…

Whereas Inside Job and The Big Short both focus on the 2008 Economic Crisis, their perspectives, cinematographic techniques, and graphic designs result in a similarly critical yet different film. Hence, it is difficult to decide which one is more effective. Inasmuch as I read The Big Short: Inside the Doomsday Machine by Michael Lewis before I saw the movie, I have to say Inside Job was better at exploring the financial services industry and unfolding how the crisis became a global issue. If The…

Traveling Across Time As the United States was created with the writing of the Constitution, a bond was formed that connected each and every state. Now there was a need to create a physical connection within the states, attaching them to one another, and pushing the new founded country into the frontier. Means of transportation had nowhere to go but up, seeing that few people owned horses and most people, especially the poor, walked to their destinations. Wagon trails were also spanned across…