Subprime lending

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    How Home Insurance Fraud Affects You Insurance fraud is a real issue when it comes to home insurance in Chandler, AZ. Fraudulent home insurance claims can be phony claims and fake property damage, to name a few. If you are considering exaggerating your insurance claim, don’t. If you know someone who you suspect committed insurance fraud, then you should report them because it affects you as well. Fraud Drives Up Premiums Fraudulent insurance claims are often paid by insurance companies. If you…

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    Reader response: A long way to achieve wealth equality In the article “How to Fix Wealth Inequality” (Hecht, 2014), the main thesis presented by author focuses on the causes of wealth inequality in the USA and the attempts to solve the problems. The gap of household wealth between the colored people and the white are large nowadays, the methods of changing the landscape are still in process. The author analyzed the current situation and raised people’s awareness towards wealth inequality. This…

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    government’s crisis management in the aftermath of the GFC was also an issue. Prevention of the crisis was non-existent, as the government did not attempt to change their policies regarding the low interest rate or the corporations’ financing of subprime mortgages, allowing them to make their huge profits. Containing the…

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    Dystopian Sci Fi

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    Authors of dystopian sci-fi novels use their imaginations to write novels, but what if they used more than their imaginations. Dystopian sci-fi novels have been written for many reasons, and have been influenced by many external and internal events. Many corresponding with our real lives including traumatic event, disease’s, and fears of the future, but what weaknesses of our society are the authors really trying to get across through books? Dystopian science-fiction examines the struggles of…

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    Housing Crisis In Canada

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    Nowadays Vancouver’s houses are most made by “gold” because of their shocking prices in all Canadians’ eyes. As a result, the housing affordability crisis has become one of the most serious issues which should be taken more controls by local government, instead of allowing such huge amount of foreign buyers purchase houses, because of the numbers of empty houses, the houses prices’ rising speed, and local people’s willingness of purchasing houses. The first reason that government should…

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    9/11 affected the economy still to this day , which killed nearly 3,000 people, is still being felt in 2017. Industries have changed policies, the government formed new agencies and the hearts and minds of Americans have been changed.There was a time, shortly after 9/11, that U.S. citizens had great trust in their federal government. In fact, trust in the government hit a peak not seen since the 1970s, according to historical Pew Research data. This was in response to the terrorist attacks. But…

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    The housing bubble crisis of 2008-2009 was predominately due to the banks over extending customers on their housing loans. The process to originate a mortgage is one to show you have sufficient means to make the monthly payments. Bankers overlooked this part of the verification and granted people who could not afford the payments. Unfortunately, those people called their mortgage servicers explaining that they cannot make the payments. Many were upset, some sold their houses, some could not…

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    Bear Stearns Case Study

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    Kimberly Amadeo described Bear Stearns as “an investment bank that survived the Great Depression only to succumb to the Great Recession.” Founded in 1923, Bear Stearns was a big investment bank which offered a series of financial services including, but not limited to securities, hedge funds, and brokerage. Following the real estate crisis in 2006, two of Bear Stearns hedge fund firms High-Grade Structured-Credit Strategies Fund and Enhanced Leverage Fund with investments in mortgages began to…

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    the 1990s to mid-2000s. Lehman’s acquisition of subprime mortgage loans led to record profits during the housing bubble; however, these risky investments proved to be the major cause of their failure. (Investopedia, 2017) Subprime mortgage loans are described as mortgages issued to people who could not qualify for a conventional mortgage due to low credit ratings, and thus charge a higher than prime interest rate. During the housing boom, subprime mortgages were popular and often issued to…

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    Little Red Riding Hood

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    On the 15th of September 2008 Lehman Brothers, one of the world’s largest investment banks, filed for bankruptcy. The main driver of which being deregulation. The ever-increasing returns obtainable from financial derivatives led executives, fueled by greed and a perverse incentive structure, to create an intricate securitization castle built on the sub-prime mortgage market. When the rate of return on financial investment is constantly higher than the rate of economic growth, then compound…

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