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Essay / Research Paper Abstract
This 6 page paper focuses on 2008 and the United States and what occurred to tank the economy in just several months time. Where blame lies--with individuals or institutions--is debated. Bibliography lists 7 sources.
Page Count:
6 pages (~225 words per page)
File: RG13_SA931fin.rtf
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Unformatted sample text from the term paper:
about investing in the market, something thought ridiculous in 2008. On the contrary, while it is true that experts were telling people not to pull all of their money out
of their retirement funds, they were not actually telling them to invest more either. Now, it seems it might even be too late to capitalize on the sudden improvement. While
no one knows if the good turn of fortune will last, watching the behavior of people before, during and after the meltdown is quite interesting. From a social science
perspective, the behavior of people suggests that by and large, they do not take responsibility for their actions. The financial meltdown has created a scapegoat for the financial downfall of
individuals and their net worth. They listen to media, and are lured by advertisers, and they end up in debt and living beyond their means. They are sheep. Rather than
listen to the few logical minds in media, they are rather enticed by advertisers and the presentation of the good life. They are told through television, film and in articles
that they can have it all. They watch films like The Secret, misinterpret the message, and believe that they can be reckless and then in the end, blame someone else
for their misfortune. The financial meltdown has created a new sector to blame as people walk away from mortgages simply because they lost money on their deal. People do not
take financial responsibility for their lives and instead blame everyone else but themselves when they find they are in dire straits. First, a look at the financial meltdown is appropriate.
Early in September of 2008 it is noted that there was speculation that a Korean bank might buy Lehman Brothers ("Financial Meltdown Interactive Timeline"). Soon afterward, officials seized Fannie Mae
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