Subprime lending

Before The Great Depression people bought things with credit promising to pay the sellers back.People still make those mistakes today and they go into debt. I agree with the quote those who cannot remember the past are condemned to repeat it.I agree with this because if you are making a mistake you might not know you are making one or you could have already repeated the past. In the article The Great Depression it says " During the 1930s, the Midwestern U.S. endured…

The first recorded use of the term “Black Friday” was applied not to holiday shopping but to financial crisis: specifically, the crash of the U.S. gold market on September 24, 1869. Two notoriously ruthless Wall Street financiers, Jay Gould and Jim Fisk, worked together to buy up as much as they could of the nation’s gold, hoping to drive the price sky-high and sell it for astonishing profits. On that Friday in September, the conspiracy finally unraveled, sending the stock market into free-fall…

What would happen if we had a stock market crash like 1929 today? “America would be in chaos, china would take over as the largest market in the world since there right behind us’ (Why Wall Street). With all the gun’s we have today people would be running rampant looting stores, and going crazy. China would take over as the world's superpower, America would most likely declare martial law to stop the chaos until the government can fix everything. The rich would not be affected again, there would…

Generation X was raised on the notion that it was a cultural norm to get married and have children as soon as possible. Back then, if a person was 28 and still unmarried, people would judge them and assume something was wrong. The Millennial Generation however, has a different outlook on relationships and are getting married a lot later in life compared to their parents. They are even exploring the concept of co-habitating before marriage. It is rather interesting how this change in views has…

Both residential and industrial vacant properties contribute to the number of idling space and unnecessary expenditure, which contribute to a real or perceived environmental contamination to its neighbors and community. As long as a property remains vacant, the greater its impact on surrounding properties and communities in a larger radius effect. Vacant properties and neighborhood blight are more than just an indication of greater financial forces at work in the community. For their association…

quickly rose to 10% and this recession started to spread globally, 10 million workers in china lost their jobs (Lewis). Many banks quickly became bankrupt and lost millions in people's savings. The recession had affected me personally. My dad, who depends on a steady stock market to keep an income, started to notice the effect of the crash in his industry. At that time, I was about 10 years old, but never understood why the “stock market crash” meant we had to keep a tighter budget than usual.…

Three Things That Can Influence Your Home Insurance Quote Whether you're purchasing another home or simply pondering exchanging insurance organizations, there are a few things you can do which can help in bringing down your homeowner insurance costs. While looking for a home insurance quote, the organization you run with is vital ... in any case, the rebates offered are where things become real. You have to meet all requirements for the greatest number of rebates as you can and they could…

Purchasing a property is often the largest single investment most make in their lifetime. This is the reason why many homebuyers, first time or otherwise have doubts. Have they made the right decision or are they Fearing Buyer?s Remorse? Have they paid more than the property is worth or is their new home in a bad neighbourhood? Other major concerns include the ability to meet a large monthly mortgage repayment if they unexpectedly become unemployed. Some worry a superior home will go on sale…

It is my belief that Bernard Madoff engaged in the Ponzi scheme at first to build his company. Bernard was a “blue collar” worker, upon graduation from high school he was a life guard in the summer and installed refrigeration systems. Bernard Madoff Investment Securities was started from the labor of these jobs (Gregoriou & Lhabitant, 2009). What may have started as a temporary scheme to ensure the success of his company, quickly got away from him; although I do believe that Madoff found a loop…

America is the land of the free and the home of the brave. Here, it is believed that anyone can achieve any goal they have and be successful in their life. This ideal is known as the american dream and has been part of our culture for years. However, this dream is slowly becoming more difficult to reach and seems to more frequently no longer apply to the American culture. In my opinion, I believe that the american dream is a dying ideal which cannot be saved. One aspect of American culture which…