Here is the synopsis of our sample research paper on WHEN THE U.S. SNEEZES, THE WORLD CATCHES COLD:
THE SUBPRIME FALLOUT AND ITS IMPACT ON GLOBAL MARKETS
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Essay / Research Paper Abstract
This 12-page paper provides an overview on the U.S. sub-prime mortgage fallout, and its impact on international markets. Bibliography lists 10 sources.
Page Count:
12 pages (~225 words per page)
File: D0_MTsubpinte.rtf
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Unformatted sample text from the term paper:
U.S. economy was humming. Jobs were being created, credit was never better. Despite growing anger over the war in Iraq, Americans had confidence in their economy and their ability to
amass money. The stock market continued its historic rise, passing by milestones that seemed mere dreams just a few years before. It
was an especially halcyon time for lower-income families, who suddenly had the chance to live the American dream and own their own home. Financial institutions were suddenly offering loans at
unbelievably low interest rates, meaning paying mortgages was suddenly cheaper than paying rent. Even if a family had lousy credit, it wasnt a problem. The money was plentiful and monthly
payments ridiculously low. The time also saw an increase in refinancing, especially against a homes equity. Many homeowners, seeing the economy humming
along, decided it would be a great time to take out a loan against the house, and use the proceeds to do home repair, by a new car, or take
a trip around the world. With interest rates low and the economy still growing, the loan could be paid off with little trouble.
Or so it was thought. Then trouble reared its head. As interest rates went up, sub-prime mortgage interest rates ballooned. Problem
was, those who had obtained the mortgages were generally low-income families, those who never would have been able to afford homes otherwise. Foreclosures increased. Institutions who owned the mortgage-backed securities
found themselves with worthless assets. The sub-prime fallout and ensuing credit crunch had begun -- just as the U.S. economy began its cyclical downward dive and the dollar began to
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