Bin Laden: the root of the american economic crisis
September 25, 2008INTRODUCTION:
Bin Laden’s second victory: the breaking of Wall Street. The terrorists attacks on September 11th reached not only the World Trade Center and The Pentagon, but also the american financial system. However, this second victory only took place in Wall Street seven years later. The current american crisis is a consequence of the terrorists attacks, which forced the U.S. government to became more lenient towards the market regulations, which in turn let banks to loan money in the form of mortgages to people who couldn’t afford, causing the crash.
1st PARAGRAPH:
The embryo of the today’s american crisis is (are?) the attacks on September 11th 2001. The obliteration of the Twin Towers, the american economic symbol, was interpreted by investidors that the bigges economy in the world was fragile. Since they considered it vulnerable, a mass movement of removing money from the US economy got played (to be continued…)
rick042570
lopetins
roselainegoncalves
renatosung
festefanelo
annieg88
clofelix
mariliaammg
beatrch
raffaborelli
pinzoca
rbollier
paolahsieh
delioemf
The US economic crisis (Hummm .. you could think of a catchier phrase.)
Bin Laden’s second victory: the breaking of Wall Street. The terrorists attacks on September 11th reached not only the World Trade Center and The Pentagon, but also the American financial system. However, this second victory has only taken place in Wall Street seven years later. The current American crisis is a consequence of the terrorists attacks, which forced the U.S. government to become more lenient towards the market regulations, which in turn, let banks to loan money in the form of mortgages to people who couldn’t afford, causing the crash.
The starting point of the today’s American crisis is are the attacks on September 11th, 2001. The obliteration of the Twin Towers, one of the American economic symbols, was interpreted by investors as a fragility in the biggest economy in the world. Since these investors have considered it vulnerable, a mass movement of removing money from the US economy got played (to be continued…)
OK, guys. Here is your grade so far taking into consideration that the rest of your paper will follow the same quality of work.
Content: 5 / 5
Structure: 5 / 5
Vocabulary: 5 / 5
Grammar: 5 / 5
Mechanics: 5 / 5
Obvious, you will need to finish the paper at this level to be able to guarantee such grade.
Rick
Bernardo: bellow ideas for the title:
1) Bin Laden: the root of the american crisis
2) Bin Laden vs. Wall Street
3) The roots of the american economic crisis. etc.
Bin Laden’s second victory: the breaking of Wall Street. The terrorists attacks on September 11th reached not only the World Trade Center and The Pentagon, but also the American financial system. However, this second victory has only taken place in Wall Street seven years later. The current American crisis is a consequence of the terrorists attacks, which forced the U.S. government to become more lenient towards the market regulations, which in turn, let banks to loan money in the form of mortgages to people who couldn’t afford it, causing the crash.
The starting point of the today’s American crisis is the attacks on September 11th, 2001. The obliteration of the Twin Towers, one of the American economic symbols, was interpreted by investors as a fragility in the biggest economy in the world. Since these investors have considered it vulnerable, a mass movement of removing money from the US economy got played (to be continued…)
#2 (Regulation) Bernardo
#3 (Mortgage) Fábio
The third effect of the trauma of 9/11, and what provoked the lack of confidence in the American financial system, was the mortgage collapse. Consumers who were given big mortgages with little documentation and sometimes no money down begin to default on loans that should never have been made in the first place. This kind of mortgage was called sub-prime mortgage and has taken down American banks and lenders, and yanked the dream of homeownership away from millions of Americans. The problem became clearer when borrowers started defaulting on mortgages. The result was debt layered on debt, piled on top of debt, supported by small amounts of cash. Such as a domino effect, the increasing numbers of defaulted on mortgages (…not finished) [housing market weakened]; [home prices fall]
Bernardo: bellow ideas for the title:
1) Bin Laden: the root of the american crisis
2) Bin Laden vs. Wall Street
3) The roots of the american economic crisis. etc.
Bin Laden’s second victory: the breaking of Wall Street. The terrorists attacks on September 11th reached not only the World Trade Center and The Pentagon, but also the American financial system. However, this second victory has only taken place in Wall Street seven years later. The current American crisis is a consequence of the terrorists attacks, which forced the U.S. government to become more lenient towards the market regulations, which in turn, let banks to loan money in the form of mortgages to people who couldn’t afford it, causing the crash.
The starting point of the today’s American crisis is the attacks on September 11th, 2001. The obliteration of the Twin Towers, one of the American economic symbols, was interpreted by investors as a fragility in the biggest economy in the world. Since these investors have considered it vulnerable, a mass movement of removing money from the US economy got played (to be continued…)
#2 (Regulation) Bernardo
Out of the mass movement of removing money from the US by the investors, the Federal Reserve decided to adopt measures so as to avoid such movement and show to the investors that the US economy still was a safe place to put their money. The US government knew that a lack of investment in its country would generate a big crisis, beause the US economy needs the money of the other countries. So, in order to change the image that the economy was in crisis, the FED became more lenient in relation to the market regulations, in an attempt to incentivate its own economy. For instance, the regulatios over the mortgages offered by the American banks has changed since then: the banks were not anymore requested to give reports monthly about the loans made. Another example is that amount of money the bank should keep with itself in order to cover people who don’t pay for their debts reduced by half, giving banks the chance to lend money for more people, receiving more profits. With these measures, the US government was able to incentivete either its national economy and also the international investments. However, they didn’t foresee a possible crisis in the long run.
obs: Fábio, here is my paragraph. In my topic sentence, I tried to write it as a continuous of the previous paragraph. Also in my concluding sentence I wrote it in a way that you can start your paragraph as a continuous either. Like with a “gancho”.
#3 (Mortgage) Fábio
The third effect of the trauma of 9/11, and what provoked the lack of confidence in the American financial system, was the mortgage collapse. As a consequence of the US lenience on the market regulations, consumers who were given big mortgages with little documentation and sometimes no money down begin to default on loans that should never have been made in the first place. This kind of mortgage was called sub-prime mortgage and has taken down American banks and lenders, and yanked the dream of homeownership away from millions of Americans. The problem became clearer when borrowers started defaulting on mortgages. The result was debt layered on debt, piled on top of debt, supported by small amounts of cash. Such as a domino effect, the increasing numbers of defaulted on mortgages (…not finished) [housing market weakened]; [home prices fall]
Bin Laden: the root of the American crisis
Bin Laden’s second victory: the breaking of Wall Street. The terrorists attacks on September 11th reached not only the World Trade Center and the Pentagon, but also the American financial system. However, this second victory has only taken place in Wall Street seven years later. The current American crisis is a consequence of the terrorists attacks, which forced the U.S. government to become more lenient towards the market regulations, which in turn, let banks to loan money in the form of mortgages to people who couldn’t afford it, causing the crash.
The starting point of the today’s American crisis is the attacks on September 11th, 2001. The obliteration of the Twin Towers, one of the American economic symbols, was interpreted by investors as a fragility in the biggest economy in the world. Since these investors have considered it vulnerable, a mass movement of removing money from the US economy got played. For instance, just after the terrorists attacks, Nasdaq decreased around 6% and some economists even considered it as the biggest crash since 1929. Hence, the panic due to September 11th was an alert to the US government about the risks of the dwindle of investments and the lack of confidence.
Out of the mass movement of removing money from the US by the investors, the Federal Reserve decided to adopt measures so as to avoid such movement and show to the investors that the US economy still was a safe place to put their money. The US government knew that a lack of investment in its country would generate a huge crisis, beause the US economy needs the money of other countries. Therefore, in order to change the image that economy was in crisis, the FED became more lenient in relation to the market regulations, in an attempt to incentive its own economy. For instance, the regulations over the mortgages offered by the American banks has changed since then: the banks were not anymore requested to give reports monthly about the loans made. Another example is that the amount of money the bank should keep with itself in order to cover people who don’t pay for their debts reduced by half, giving banks the chance to lend money for more people, receiving more profits. With these measures, the US government was able to incentive either its national economy and also the international investments. However, they didn’t foresee a possible crisis in the long run.
The unpredictable mayhem was the mortgage collapse. As a consequence of the US lenience on the market regulations, consumers who were given big mortgages with little documentation and sometimes no money down begin to default on loans that should never have been made in the first place. This kind of mortgage was called sub-prime mortgage and has taken down American banks and lenders, and yanked the dream of homeownership away from millions of Americans. The problem became clearer when borrowers started defaulting on mortgages. The result was debt layered on debt, piled on top of debt, supported by small amounts of cash. Such as a domino effect, the increasing numbers of defaulted on mortgages.
Bin Laden: the root of the American crisis
Bin Laden’s second victory: the breaking of Wall Street. The terrorist’s attacks on September 11th reached not only the World Trade Center and the Pentagon, but also the American financial system. However, this second victory has only taken place in Wall Street seven years later. The current American crisis is a consequence of the terrorist’s attacks, which forced the U.S. government to become more lenient towards the market regulations, which in turn, let banks to loan money in the form of mortgages to people who couldn’t afford it, causing the crash.
The starting point of the today’s American crisis is the attacks on September 11th, 2001. The obliteration of the Twin Towers, one of the American economic symbols, was interpreted by investors as fragility in the biggest economy in the world. Since these investors have considered it vulnerable, a mass movement of removing money from the US economy got played. For instance, just after the terrorist’s attacks, NASDAQ decreased around 6% and some economists even considered it as the biggest crash since 1929. Hence, the panic due to September 11th was an alert to the US government about the risks of the investments dwindle and the lack of confidence.
Out of the mass movement of removing money from the US by the investors, the Federal Reserve decided to adopt measures so as to avoid such movement and show to the investors that the US economy still was a safe place to put their money. The US government knew that a lack of investment in its country would generate a huge crisis; because the US economy needs the money of other countries. Therefore, in order to change the image that economy was in crisis, the FED became more lenient in relation to the market regulations, in an attempt to incentive its own economy. For instance, the regulations over the mortgages offered by the American banks have changed since then: the banks were not anymore requested to give reports monthly about the loans made. Another example is that the amount of money the bank should keep with itself in order to cover people who don’t pay for their debts reduced by half, giving banks the chance to lend money for more people, receiving more profits. With these measures, the US government was able to incentive its national economy and international investments. However, they didn’t foresee a possible crisis in the long run.
The unpredictable mayhem was the mortgage collapse. As a consequence of the US lenience on the market regulations, consumers who were given big mortgages with little documentation and sometimes no money down begin to default on loans that should never have been made in the first place. This kind of mortgage was called sub-prime and has taken down American banks and lenders, and yanked the dream of homeownership away from millions of Americans. The problem became clearer when borrowers started defaulting on mortgages. The result was debt layered on debt, piled on top of debt, supported by small amounts of cash. Such as a domino effect, the increasing numbers of defaulted on mortgages has broken the confidence on the house price market and its related financial products, including the securities on the mortgages. For an idea, the house pricing decreased in a depreciation movement; the borrowers stopped paying, debts increased at no money to cover the mortgage. The securities lost their capacity to pay for the debts, downsizing its credibility and the value of their stocks. The “paper” related to the mortgage, which at first was considered as safe as the American Treasuries, ended up like a high-risk endeavor for investors. Again the American financial system turned off vulnerable, leading to a fragile place to invest in. Further, the Americans faced the same situation: a mass movement of removing money from the US market, what was considered the beginning of the American financial crash.
In conclusion, the trauma of 9/11 can be considered as the root of the Wall Street crisis. Although impossible to debate all the reasons or consequences of such terrorist’s acts, it’s true that the damages affected the Americans financial system, seven years later. Only later the Americans could really understand the Bin Laden’s second victory: the attack against the capitalism. Starting from the falling of the Twin Towers and the Pentagon, the US government got lost trying to recover its economy trustful, precisely by measures that enabled the mortgage collapse and its hard consequences. For that reason, this mayhem is on the verge of turning down the American economy, not to mention the global economic system and the whole capitalism role.
Bernardo
I finished my paragraph (need some review) and I wrote a draft of what can be considered as a conclusion. Please, read my paragraph, make any change you consider relevant to the understanding of the whole text and help me with the conclusion (I put some ideas just as a brainstorm and it needs review). See you Wednesday.
Fabio.
Bin Laden: the root of the American crisis
Bin Laden’s second victory: the breaking of Wall Street. The terrorist’s attacks on September 11th reached not only the World Trade Center and the Pentagon, but also the American financial system. However, this second victory has only taken place in Wall Street seven years later. The current American crisis is a consequence of the terrorist’s attacks, which forced the U.S. government to become more lenient towards the market regulations, which in turn, let banks to loan money in the form of mortgages to people who couldn’t afford it, causing the crash.
The starting point of today’s American crisis is the attacks on September 11th, 2001. The obliteration of the Twin Towers, one of the American economic symbols, was interpreted by investors as fragility in the biggest economy in the world. Since these investors have considered it vulnerable, a mass movement of removing money from the US economy got played. For instance, just after the terrorist’s attacks, NASDAQ decreased around 6% and some economists even considered it as the biggest crash since 1929. Hence, the panic due to September 11th was an alert to the US government about the risks of the investments dwindling and the lack of confidence.
Out of the mass movement of removing money from the US by the investors, the Federal Reserve decided to adopt measures so as to avoid such movement and show to the investors that the US economy still was a safe place to put their money. The US government knew that a lack of investment in its country would generate a huge crisis because the US economy needs the money from other countries. Therefore, in order to change the image that economy was in crisis, the FED became more lenient in relation to the market regulations in an attempt to foster its own economy. For instance, the regulations over the mortgages offered by the American banks have changed since then: the banks were not requested to give reports monthly about the loans made anymore. Another example is that the amount of money the bank should keep with itself in order to cover for people who don’t pay for their debts reduced by half, giving banks the chance to lend money to more people, receiving more profits. With these measures, the US government was able to stimulate its national economy and international investments. However, they didn’t foresee a possible crisis in the long run.
The unpredictable mayhem was the mortgage collapse. As a consequence of the US lenience on the market regulations, consumers who were given big mortgages with little documentation and sometimes no money down, began to default on loans that should never have been made in the first place. This kind of mortgage was called sub-prime and has taken down American banks and lenders, and yanked the dream of homeownership away from millions of Americans. The problem became clearer when borrowers started defaulting on mortgages. The result was debt layered on debt, piled on top of debt, supported by small amounts of cash. As a domino effect, the increasing numbers of defaulted on mortgages have broken the confidence on the house price market and its related financial products, including the securities on the mortgages. Just as an idea, the house pricing decreased in a depreciation movement; the borrowers stopped paying, debts increased to the point of haivng no money to cover for the mortgages. The securities lost their capacity to pay for the debts, downsizing its credibility and the value of their stocks. The “paper” related to the mortgage, which at first was considered as safe as the American Treasuries, ended up like a high-risk endeavor for investors. Again the American financial system turned off vulnerable, leading to a fragile place to invest in. Furthermore, the Americans faced the same situation: a mass movement of removing money from the US market, which was considered the beginning of the American financial crash.
In other words, the trauma of 9/11 can be considered as the root of the Wall Street crisis. Although it is impossible to debate all the reasons or consequences of such terrorist’s acts, these damages have affected the American financial system seven years later. Only afterwards, Americans could really understand Bin Laden’s second victory: the attack against the capitalism.
Guys,
Here are your grades.
Pair Work:
Content: 5 / 5
Structure: 5 / 5
Vocabulary: 5 / 5
Grammar: 5 / 5
Mechanics: 5 / 5
Total: 25 / 25
Bernardo’s Portion
Content: 5 / 5
Structure: 5 / 5
Vocabulary: 5 / 5
Grammar: 5 / 5
Mechanics: 5 / 5
Total: 25 + 25 = 50 divided by 2 = 25 / 25
Fabio’s portion
Content: 5 / 5
Structure: 5 / 5
Vocabulary: 5 / 5
Grammar: 5 / 5
Mechanics: 5 / 5
Total: 25 + 25 = 50 divided by 2 = 25 / 25
Bin Laden: the root of the American crisis
Bin Laden’s second victory: the breaking of Wall Street. The terrorist’s attacks on September 11th reached not only the World Trade Center and the Pentagon, but also the American financial system. However, this second victory has only taken place in Wall Street seven years later. The current American crisis is a consequence of the terrorist’s attacks, which forced the U.S. government to become more lenient towards the market regulations, which in turn, let banks to loan money in the form of mortgages to people who couldn’t afford it, causing the crash.
The starting point of today’s American crisis is the attacks on September 11th, 2001. The obliteration of the Twin Towers, one of the American economic symbols, was interpreted by investors as fragility in the biggest economy in the world. Since these investors have considered it vulnerable, a mass movement of removing money from the US economy got played. For instance, just after the terrorist’s attacks, NASDAQ decreased around 6% and some economists even considered it as the biggest crash since 1929. Hence, the panic due to September 11th was an alert to the US government about the risks of the investments dwindling and the lack of confidence.
Out of the mass movement of removing money from the US by the investors, the Federal Reserve decided to adopt measures so as to avoid such movement and show to the investors that the US economy still was a safe place to put their money. The US government knew that a lack of investment in its country would generate a huge crisis because the US economy needs the money from other countries. Therefore, in order to change the image that economy was in crisis, the FED became more lenient in relation to the market regulations in an attempt to foster its own economy. For instance, the regulations over the mortgages offered by the American banks have changed since then: the banks were not requested to give reports monthly about the loans made anymore. Another example is that the amount of money the bank should keep with itself in order to cover for people who don’t pay for their debts reduced by half, giving banks the chance to lend money to more people, receiving more profits. Although, the US government was able to stimulate its national economy and international investments with such measures, they didn’t foresee a possible crisis in the long run.
The unpredictable mayhem was the mortgage collapse. As a consequence of the US lenience on the market regulations, consumers who were given big mortgages with little documentation and sometimes no money down, began to default on loans that should never have been made in the first place. This kind of mortgage was called sub-prime and has taken down American banks and lenders, and yanked the dream of homeownership away from millions of Americans. The problem became clearer when borrowers started defaulting on mortgages. The result was debt layered on debt, piled on top of debt, supported by small amounts of cash. As a domino effect, the increasing numbers of defaulted on mortgages have broken the confidence on the house price market and its related financial products, including the securities on the mortgages. Just as an idea, the house pricing decreased in a depreciation movement; the borrowers stopped paying, debts increased to the point of haivng no money to cover for the mortgages. The securities lost their capacity to pay for the debts, downsizing its credibility and the value of their stocks. The “paper” related to the mortgage, which at first was considered as safe as the American Treasuries, ended up like a high-risk endeavor for investors. Again the American financial system turned off vulnerable, leading to a fragile place to invest in. Furthermore, the Americans faced the same situation (((which they tried to avoid after September 11th; actually what they did was to postpone a crisis, instead of adopting some real soltion))): a mass movement of removing money from the US market, which was considered the beginning of the American financial crash.
In other words, the trauma of 9/11 can be considered as the root of the Wall Street crisis. Although it is impossible to debate all the reasons or consequences of such terrorist’s acts, these damages have affected the American financial system seven years later. Only afterwards, Americans could really understand Bin Laden’s second victory: the attack against the capitalism.
In conclusion, the crisis that Wall Street is experiencing nowadays is a result of the policies adopted by the US government since the terrorists attacks on September 11th 2001, specially the measure of reducing the regulations over the markets, which ended up causing the sub-prime crisis. It is obvious that the Federal Reserve had to contend with the mass movement of removing money from the economy just after the terrorists attacks. However, the government should have investigated the consequences of such measures, instead of taking them in a fast way. With less regulations, the banks felt free to lend more money and people felt able to buy houses, cars, televisions and other fancy equipements. And now, due to the sub-prime chaos, while the US lawmakers are planning to use public money so as to save private institutions, a handful of economists wonder if it wont led us to a new crisis in some years. With some doubts, Americans at least have one certainty: afterwards, Bin Laden is celbrating his second victory: the attack agains the capitalism.
Fábio,
I think that your paragraph is really good. I didn’t change anything. I did change some words in my paragraph, but nothing relevant. I also read the conclusion and I think is nice either. I wrote another conclusion using your ideas. You can read it below your conclusion.
See you later, Bernardo