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A sudden pause fell upon the room, almost as if oxygen had been sucked off it, remembers Sen. Christopher Dodd (D-Conn.) (TPF, 2009).
With the housing bubble bursting and trillions of dollars in mortgages beginning to go bad in the year 2007, fear began to spread through the big firms that are the heartbeat of Wall Street. By spring 2008, with billions worth of bad mortgages on their back, Bear Stearns -- an investment bank -- was rumored to be near collapse. The problem with such kind of rumors is that they can put so much strain on a financial institution that they get to bust. The financial markets had become volatile and no company wanted to be on the receiving end of disconcerting rumors. It didn't help that Bear Stearns was already in bad shape. The company's stock shed most of its value as it dropped to $57 down from $171 a share. The financial devaluation of the bank was indicative of two things: it was on the verge of bankruptcy and it was quickly becoming a toxic asset. A toxic asset is basically when a financial asset or institution loses its financial value, and the…
Economic Globalization Has the 2008 financial meltdown in the U.S. And the ongoing economic crisis in Europe have practically ended the era of economic globalization? Following the financial crisis that marred the U.S. economy along with other global economies as well as the ongoing Eurozone debt crisis, there have been projected concerns that this predicament would end economic globalization. The purpose of this paper is to assess this claim. Going by Immanuel
Sorkin, however, posits no argument per se. Rather, his book offers insight into how the financial crisis manifested from a far more personal perspective of those involved than anything else. The book is informative in nature, and give insight into some of the thought processes and activities those on the outside may not otherwise be exposed to or privy to. The title of the book sums it up best,
" Some experts say that limits of 500 picocuries are harmful, especially to developing fetuses. When we have conflicting information at this level, then it becomes hard to know what information is the best information. To ere on the side of caution, however, when one is facing harmful radiation levels, would logically be the course of action to follow. Except for cleanup at Chernobyl, there was nothing to be done about
"Forecasts by Moody's Economy.com now use a 20 percent drop in median existing-home prices from their 2005 peak as a baseline, with prices weakening through at least mid-2009" (Shinkle, 2008, p. 44). Moody's director of housing economics Celia Chen, states in the same report that the 20% decline is the good news and that the bad news is that it could easily be more than that. The worst-case scenario is a lot more than that. "You
Nuclear Energy: Risks vs. Reward Every source of energy has its own drawbacks. This is more so the case taking into consideration the recent energy source related accidents including but not limited to coal-mining mishaps, the nuclear crisis in Japan, the B.P. oil spill, etc. In this text, I will amongst other things concern myself with nuclear power and the consequences associated with the development of the same. As I have already
pictures can speak louder than words, and this is clear in the photo entitled "U.S. Navy: An aerial view of damage to Wakuya, Japan after a 9 magnitude tsunami." The photo initially looks like picture of a tiny child's toy boat, which is floating in a muddy sea of debris. The boat looks brave and cheery, as it floats amidst the muck, garbage, and flotsam and jetsam of people's