Financial Crisis Of 2008, The United States Economy

In 2001, the U.S. economy experienced a mild, short-lived recession. Although the economy nicely withstood terrorist attacks, the bust of the dotcom bubble, and accounting scandals, the fear of recession really preoccupied everybody s minds. http://www.wallstreetoasis.com/financial-crisis-overview Financial crisis of 2008, started in 2001 after the U.S. economy went through â€Å"a mild, short-lived recession† (Financial Crisis 2007/2008 Overview). To start things off, the crisis happened because of one major reason; mortgages. When someone is trying to buy a house, they need to take out a huge sum of money from the bank. In return, the bank acquires a piece of paper called a mortgage. Then, every month, the new home owner will need to pay to bank, or whoever is the owner of that paper mortgage, a small portion of that mortgage plus a small interest. Banks like this because they can not lose. They either will make their money back plus interest or if the home owner defaults, does not make their payments to the bank each month, the bank will get the house which they will then sell to someone else. This didn t start with just the banks, in the early 2000’s many U.S. investors and other large investors from around the world wanted to do what they do best. Find low risk, high reward opportunities to invest their money into. They chose to throw their money into the United States housing market, thinking they would make a greater interest then if they invested in United StatesShow MoreRelatedThe 2008 Financial Crisis Essay1326 Words   |  6 Pagesintroduction The 2008 financial crisis led to a sharp increase in mortgage foreclosures primarily subprime leading to a collapse in several mortgage lenders. Recurrent foreclosures and the harms of subprime mortgages were caused by loose lending practices, housing bubble, low interest rates and extreme risk taking (Zandi, 2008). Additionally, expert analysis on the 2008 financial crisis assert that the cause was also due to erroneous monetary policy moves and poor housing policies. The federal governmentRead MoreLessons Of Resilience : What We Can Learn From The Subprime Mortgage Crisis Essay1499 Words   |  6 Pagesfrom the Subprime Mortgage Crisis Like all financial markets, the United States housing market is characterized by its cyclical nature. Markets have ups and downs, peaks and troughs, and without variation, the housing market would not contribute to economic activity in the way that it does. Still, while fluctuations are a necessary and often beneficial truth, housing disasters and market crashes are crises that should and can be avoided with proper foresight. The 2008 housing market crash had consequencesRead MoreThe Global Financial Crisis Of Broward College920 Words   |  4 PagesResearch Paper: The Global Financial Crisis Michelle Beira Broward College There have been few financial crises in the United States. The Global Financial Crisis of 2008 to 2009 was the most recent and before that was The Great Depression of the 1930s. The Global Financial Crisis actually began in 2007 when prices of homes tanked. It not only affected the U.S. but it also affected economies overseas. The entire investment banking industry, some of the biggest insurance companies, enterprisesRead MoreThe Wall Street Meltdown1627 Words   |  6 PagesThe Wall Street Meltdown The Meltdown is a PBS special on the events of the financial crisis of 2008, in a timeline format, revealing the thinking behind decisions made during the fateful months before the stock market crash in August of that year. 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On the other hand, due to the big changes that took place over the last 20 to 30 years in the worldwide economy and the influence of 2007 financial crisis, it has re-emerged as one of theRead MoreThe World Experienced A Tremendous Financial Crisis Essay1131 Words   |  5 PagesIntroduction In 2008, the world experienced a tremendous financial crisis which rooted from the U.S housing market; moreover, it is considered by many economists as one of the worst recession since the Great Depression in 1930s. After posing a huge effect on the U.S economy, the financial crisis expanded to Europe and the rest of the world. It brought governments down, ruined economies, crumble financial corporations and impoverish individual lives. For example, the financial crisis has resulted inRead MoreThe 2008 Recession Affected The Global Economy1532 Words   |  7 Pagesthe stock marketing falling in 2008, and less investments involving risk and the GDP falling. This is when the economy began turning internationally. With imports, exports and foreign investment falling along with the combination of employment and production being cut back this recession affected the global economy. The unemployment rate in the United States began to skyrocket as well. Below is a graph depicting the unempl oyment rate in the United States during the 2008 recession. This graph data isRead MoreThe Financial Crisis : Rescue Efforts855 Words   |  4 PagesThe Financial Crisis: Rescue Efforts Throughout the early 2000’s, relaxed lending regulations and lowered interest rates sparked the growth of the securitization of subprime mortgages. In order to increase profit and revenue, a number of financial institutions became heavily involved in the process of securitizing the loans. When house prices began to fall in 2006, homeowner delinquencies and foreclosures increased causing many institutions to become overleveraged. As a result, the destabilizationRead MoreThe Financial Crisis Of 20081747 Words   |  7 PagesThe economic crisis of 2008 was one for the ages, it changed the world of investing forever. That year, the stock market crashed, bank failures and the infamous wall street bailout that can all be traced back to the subprime mortgage crisis.. The 2008 economic crisis rocked the global economy for the worst, and to this day the United States is trying to recover from the impact that the crisis had. In order to understand why exactly the banks failed people have to understand the subprime mortgage

Cultural Culture, Occupational, And Organizational Cultures

(Ch.2) It was while reading the introduction of this chapter that the realization hit me that ‘Culture’ governs every walk of our life. Right from what we wear and what we speak, to what we perceive as beautiful (or ugly), how we behave differently with different people, our idea of right and wrong – everything is part of our culture, which has been handed down to us as accepted from our past generations. This has been very beautifully explained in the first two pages of the chapter. I particularly liked one example in the ‘Case In Point’ (p. 9), where it is pointed out that crossing your ankle over your knee is a posture that is considered rude in Japan. This might not seem a big deal to people in other countries, but when in Japan, it would do us good remember this. The author has then moved on to list the three levels of culture i.e., National Culture, Business Culture, Occupational and organizational Cultures. Also, the three diagnostic models – Hofstede’s Model, The GLOBE project and the 7d culture model –all of them have some pretty useful information about different cultures across the world. Amidst these, I found one fascinating concept called ‘Power Distance’ (p. 52). It explains how different cultures deal with inequality. Hailing from India, a typically high-power-distance country, I completely understand this concept. It was actually a pleasant surprise when I moved to the United States and got to experience how much of a Low-Power-Distance country this is. JustShow MoreRelatedReview of Study: McSweeneys Hofstedes Model of National Cultural Differences and Their Consequences: A Triumph of Faith, A Failure of Analyses1463 Words   |  6 Pages (2002) Hofstedes model of national cultural differences and their consequences: A triumph of faith a failure of analyses, Human Relations, 55, 1: 89-118 Name Institution Professor Course Date Introduction The research article by McSweeney (2002) ascertains that within every management disciplines, crucial literatures that presuppose that every nation holds its distinctive, describable and influential culture. According to McSweeney (2002), culture shapes every aspect of nature. The authorRead MoreCulture Is The Mind s Way Of Separating One Group Of People From Another ( Kawar )1087 Words   |  5 PagesIntroduction Culture can be defined into many definitions and it also can be separated into different types, all so that we can better understand it. 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Although most ofRead MoreThe Impact Of Communication And Cultural Differences On Occupational Therapy Practice1491 Words   |  6 Pages Impact of Communication and Cultural Differences on Occupational Therapy Practice A group reflection on communication and cultural differences has been undertaken to deliberate on and examine the resulting impacts on occupational therapy (OT) practice. As such, we have collectively chosen to define culture as â€Å"†¦a way of life for a group (society) that is shared and learned. Culture is not confined to observable phenomena nor is it bounded or static† (Farmer et al., 2012, p. 243). It involvesRead MoreHow Does Culture Effect Management? Essay1058 Words   |  5 PagesPersonal title: How does culture effect management? Research objectives: 1. To explore culture theories and how it effects management nationally as well as internationally. 2. To examine management theories and effect of culture. 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The cultural obstacles preventing occupational development and growth are the prime accounts used when women of all ages are dissatisfied and leaving a position (CoxRead MoreThe Global Market Sphere Has Gone Through A Wide Range Of Socio Economic And Political Transitions1200 Words   |  5 Pageswellbeing of the global market, t his is based on their social, cultural, economic and political constructs which affect their overall perceptions and feelings on certain market goods and services, also their involvement in various market transactions, basically, these variations are the major factors that determine the state of the market as either progressive, fluctuating, constant or regressive. Q1. 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Learning from Mistake, Agree or Disagree Free Essays

I don’t like to make mistake. Everything to me has to be perfect because I felt that if one person made a mistake the first time, how they would be able to do anything. That is why learning from mistake is impossible to me. We will write a custom essay sample on Learning from Mistake, Agree or Disagree or any similar topic only for you Order Now When you make mistake and try to learn something from your mistake, you will waste lots of things, ruin the way that people look about you. In addition, learning from mistakes will make you regret much. First of all, learning from our mistakes will waste you lots of things. You will waste your time because you have to do again everything that you did in the wrong way. It seems too hard to start something again which is done one time already. By doing again, you will feel bored and tired. Not only doing it over, but also, you have to find where you did it wrong and give yourself a lesson in order to prevent from making that mistake once more. Studying in this school is an example. If you failed, you had to spend 16 weeks in fall or spring semester and 8 weeks in summer semester. You have to study again. In addition, learning from your mistake will waste your money. Failing in this school is an instance. You have to spend lots of money on the subject that you failed to study again. Spending 75 US dollar for each subject in ELS program and 150 US dollar for each subject in AAS program is the result. In learning, you always have many chances to fix your mistake but how about in working, will you have any opportunity? In reality, the real world, you will not have second chance. Especially, in the business world, where everything is a competition, you do not have the time to learn from mistakes. So, you are forced to do everything completely. Even though you can learn from your mistakes, you do not have chance to fix them. It means that you will be going to end up your career. That is the reason why I don’t like to learn from my mistakes. Secondly, in daily life, learning from mistakes will ruin the way that your friends and family look or feel about you. Everyone will look at you with a strange way if you learn from your mistakes. In addition, they will laugh at you as a silly person. Even though you learn from mistakes, they will make you feel uncomfortable. My cousin is as an illustration. She failed high school exam. She said to me that her old friends looked at her with their curious eyes; her neighbor and her relative always annoyed her with their questions. She seemly lost her hope though she had a lesson from her mistakes and knew how to overcome this hard situation. In life, learning from your mistakes will affect your job and your ability to success. When you work in a company and you always say that I have lots of experience from my mistakes. Then, you continue making mistakes. What will your boss and you co-worker think about your ability? Of course, they will suspect your capability. In addition, does the company want to hire employees that always make mistake and say that they learn a lot from their mistakes? In my point of view, people do not care about if you learn from your mistakes or not. They just look at your mistake because caring about your learning from mistakes dose not bring any benefits to them. In a company, the boss just wants to have perfect employees- hard working and aâ‚ ¬? no-mistakeaâ‚ ¬? employees. More over, your boss may think that if he allows employees to make mistakes, how will they ever learn? They will just keep on making even more mistakes. Further more, when you learn from your mistakes, people who do not like you will know where you are weak. It will be easy for them to let you down. They can seize your status in your company. Everything that you have will not belong to you any more. It belongs to people who want to harm you. So, learning from your mistakes will deteriorate yourself and bring disadvantages to your life. Thirdly, learning from mistakes will make you regret much. You may think that you do not willing to do any things that you face. You have not enough experience to overcome your challenges. Further more, you will be diffident when you face some hard situations. So, you do not concern much about what you are doing. Students who learn from their mistakes will be discouraged because they used to not to pay more attention to their study. They do not prepare any things for their future. In addition, felling ashamed and giving up their goal is the affect of learning from mistakes. The more complicated mistakes they learn, the more shameful they feel. To me, if I do something, you I will do it for a reason and I will not regret. I find that regretting is a bad way. If you know results that will not good for you, why donaâ‚ ¬Ã¢â€ž ¢t you try to prevent that? To me, I before doing something will always attempt to think about what Iaâ‚ ¬Ã¢â€ž ¢m going to do first. In addition, I usually consider about the result of doing something. I ask myself that if doing some things will bring benefit to me or not. So, I may choose the way that will not make me regret. Right now, we are living in an achievement and success oriented world. So, a popular rule is whenever you do anything, try to do it right. That is why, to me, learning from mistakes is something unacceptable. In conclusion, I do not like learning from mistakes. Everybody can reduce as much mistake as possible. By preparing yourself and hard working, I believe that you can overcome everything in your life. In addition, do not think about learning from your mistakes because it just brings disadvantages to your life. It not only makes you spend lots of things, but also lays down the way that your relative look at you and makes you regret much. Hopefully, you will be strong and confident to overcome every hard situation. How to cite Learning from Mistake, Agree or Disagree, Essays