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Essay / Research Paper Abstract
This 2.5-page paper analyzes the current recession and why much of the blame for this economic crisis is being placed on Congress. There are 3 sources cited.
Page Count:
3 pages (~225 words per page)
File: PG56_GPArecession.rtf
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Unformatted sample text from the term paper:
listed below. Citation styles constantly change, and these examples may not contain the most recent updates. Recession Research Compiled for The Paper
Store, Inc. by P. Giltman 7/2010 Please There have been many economic
crises in American history, but probably none as great as the current recession being experienced today. Some background is necessary to fully understand the nature of this problem as well
as the various attempts to "fix" the situation. The lending of money is an integral part of this countrys capitalistic system of government. Lending institutions may allow individuals to borrow
money for numerous reasons, such as student loans, starting or maintaining a business, or buying a home. This last reason is indeed the most important factor involved in this crisis.
Traditionally, when banks or other lending institutions decide whether to give an individual a mortgage for the purchase of a home, careful research is done by financial and loan officers
to determine if that individual is capable of paying back the loan over a specified period of time. This research includes the credit history of that person, his employment history,
how much money he makes, and his salary level plus any possible bonuses or raises. After all these items are taken into consideration, a careful decision is made by that
lending institution to determine if that person is credit worthy and if he or she is, then the amount of interest must be determined over a specified period of time.
Naturally, the greater the credit-worthiness, meaning the greater the chance that the individual will be able to pay back the loan, the less the interest payment will be. In the
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