...CLEAN UP THE HOUSE 1 Clean Up the House: An Analysis of the Housing Crisis and the Endeavor to Lift the US Housing Market Neil Smith Wilmington University MBA 6400 Economic and Financial Environment of Business CLEAN UP THE HOUSE 2 ABSTRACT This is an inquiry of the Housing Crisis that culminated to the Great Recession of 2007-2009. A review of the aspects that led to the Housing Crisis will be considered. The causes that contributed to the Housing Crisis will range from the Community Reinvestment Act of 1977 to the greed and voracity that engulfed the Financial Markets. Such greed maligned the financial markets causing eventual bailouts and measures that the US Federal Government employed to avert a major financial depression. This paper will discuss definite recommendations that will improve the US Housing Market. CLEAN UP THE HOUSE 3 Clean Up the House: An Analysis of the Housing Crisis and the Endeavor to Lift the US Housing Market In today’s world it is generally accepted that a home is the most expensive thing that any American can buy. The idea of home ownership - a chance to own a home - is a dream fulfilled for many. To have a piece of property and call it your own is reflected in the US...
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...For example, when looking at the wealth disparity between whites who live in the north vs those that live in the south it is clear that southern states with a majority white population fare much worse than their northern white neighbors. This is represented by higher Gini Coefficients in southern states (per the lecture, Chapter 7). This wealth disparity is impart caused by the abolition of slavery. These circumstances are different from black wealth disparity because a) there was no concerted effort to keep southern whites under subjugation because there were white or belonged to a certain social class and b) because there was no systemic action enforced by social institutions that attempted to disenfranchise white southerners. Solutions When it comes to finding a solution, the first step is admitting there is a problem. Through education, we can begin to reconcile some of the inherent prejudices that contribute to many of the aforementioned wealth disparities...
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...will also look at those who have changed monetary or fiscal policy, and laws governing business since the collapse. I will also give my thoughts on whether these changes will actually be successful on turning things around for the better of our economy. The economic collapse of 2008 has affected so many people across the nation. With the current unemployment rate at 8.2 percent, (less than .5 percent away from where it was the first year of the Great Depression) many people have lost their homes due to not being able to pay high mortgage costs. Everyone knows at least one family who has been affected by the collapse. Some may say it started because of bad mortgage lending, others say it is because people got in to mortgages that were beyond their means. I believe the crisis has to do with everyone involved in the picture; policymakers, lenders/banks, and consumers. I was born and raised in San Diego, California. My Mother and Father brought me up with the idea that owning real estate is always a good investment. At age 20, I had a great job making between 60,000- 80,000 dollars annually and the first thing I did when I was able to save up for a down payment was that I purchased a townhouse 13 miles from my hometown. Seeing housing prices continue to rise I knew that if I did not purchase then, I would never be able to. Being a first time buyer, I did not have enough knowledge about lenders, and the different mortgage plans they offered. I ended up going with one of the Adjustable...
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...Predatory Lending Practices Predatory lending was once a major problem in the United States. This was one of the reasons for the credit crisis in 2008. Unfortunately there were a few companies that were involved in these illegal practices which will be discussed in further detail later. There are different tactics used in predatory lending and several laws were developed to help prevent future predatory lending issues. What is predatory lending? Predatory lending is any lending practice that imposes unfair or abusive loan terms on a borrower. It is also any practice that convinces a borrower to accept unfair terms through coercive, deceptive, exploitative, or unscrupulous actions for a loan that a borrower can’t afford, doesn’t need, or doesn’t want. Predatory lending benefits the lender, not the borrower by ignoring or hindering the borrower’s ability to repay the debt. These lending tactics attempt to take advantage of a borrower’s lack of understanding about loans, terms, or finances in general (Krulick, 2014). Who can be targeted in these illegal practices? Predatory lenders typically target minorities, poor, elderly, and less educated people. People who need immediate cash are also targeted. For example people that need to pay medical bills, need to make a home repair, or someone that needs help making a car payment. People with credit issues or people who recently lost their jobs can be targets as well. The credit issues often disqualify borrowers from conventional loans...
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...Pentecostalism * One way in which this religion spread begins with an independent bible school in Topeka, Kansas, founded by Charles Fox Parham (1873-1929) * Some students there had a particular concern for the account in the Christian New Testament recorded in the book of Acts, chapter two, describing what happened to Jesus’ disciples as they gathered in a private room in Jerusalem during the Jewish festival of Pentecost. * This festival attracted thousands of tourists who spoke many different languages. According to the account, the Holy Spirit enabled the disciples to speak in these different languages. This phenomenon is called “speaking in tongues” or glossolalia. Those who spoke in different languages believed the Holy Spirit granted them the gift or power to do so. Much of the Christian tradition restricted such miraculous gifts to the age of the apostles and did not expect them later. * Parham’s students in Topeka found nothing in the biblical text that limited such spiritual gifts to an ancient time. On New Year’s Day, 1901, Agnes Ozman received the gift of speaking in tongues. Parham soon embraced the idea, equating such spiritual gifts with a “second baptism” that followed the traditional baptism which used water to anoint individuals. This second baptism was a baptism of fire * Speaking in tongues is a form of ecstatic experience when for a time another power seized control of one and manifests itself. * The Pentecostal...
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...Pretend That It Isn't Happening 10 6.2 Seek Advice 10 7.0 If You Are Accused of Discrimination... 11 7.1 Take the Accusation Seriously 11 7.2 Avoid Retaliation 11 7.3 Review Your Rights and Seek Advice 11 8.0 Prevent discrimination at workplace 12 8.1 Embracing Workplace Diversity 12 9.0 Conclusion 14 10.0 example of discrimination at workplace 15 11.0 reference 20 1.0 Definition of discrimination Discrimination toward or against a person or group is the treatment or consideration based on class or category rather than individual merit. It is usually associated with prejudice. It can be behavior promoting a certain group (e.g. affirmative action), or it can be negative behavior directed against a certain group (e.g. redlining). Discrimination is a behavior (an action), particularly with reference to unequal treatment of people because they are of a particular group whether it be racial, ethnic, religious, or gender. Besides that, discrimination also can separate to 2 mains group that is direct discrimination and indirect discrimination. 1.1 Direct discrimination Direct discrimination occurs when a person is treated less favorably than another in a...
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...E SSAYS ON TWENTIETH-C ENTURY H ISTORY In the series Critical Perspectives on the Past, edited by Susan Porter Benson, Stephen Brier, and Roy Rosenzweig Also in this series: Paula Hamilton and Linda Shopes, eds., Oral History and Public Memories Tiffany Ruby Patterson, Zora Neale Hurston and a History of Southern Life Lisa M. Fine, The Story of Reo Joe: Work, Kin, and Community in Autotown, U.S.A. Van Gosse and Richard Moser, eds., The World the Sixties Made: Politics and Culture in Recent America Joanne Meyerowitz, ed., History and September 11th John McMillian and Paul Buhle, eds., The New Left Revisited David M. Scobey, Empire City: The Making and Meaning of the New York City Landscape Gerda Lerner, Fireweed: A Political Autobiography Allida M. Black, ed., Modern American Queer History Eric Sandweiss, St. Louis: The Evolution of an American Urban Landscape Sam Wineburg, Historical Thinking and Other Unnatural Acts: Charting the Future of Teaching the Past Sharon Hartman Strom, Political Woman: Florence Luscomb and the Legacy of Radical Reform Michael Adas, ed., Agricultural and Pastoral Societies in Ancient and Classical History Jack Metzgar, Striking Steel: Solidarity Remembered Janis Appier, Policing Women: The Sexual Politics of Law Enforcement and the LAPD Allen Hunter, ed., Rethinking the Cold War Eric Foner, ed., The New American History. Revised and Expanded Edition E SSAYS ON _ T WENTIETH- C ENTURY H ISTORY Edited by ...
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...HAZARD, VULNERABILITY, AND RISK ANALYSIS This paper describes how preimpact conditions act together with event-specific conditions to produce a disaster’s physical and social impacts. These disaster impacts can be reduced by emergency management interventions. In addition, this chapter discusses how emergency managers can assess the preimpact conditions that produce disaster vulnerability within their communities. The chapter concludes with a discussion of vulnerability dynamics and methods for disseminating hazard/vulnerability data. Introduction A disaster occurs when an extreme event exceeds a community’s ability to cope with that event. Understanding the process by which natural disasters produce community impacts is important for four reasons. First, information from this process is needed to identify the preimpact conditions that make communities vulnerable to disaster impacts. Second, information about the disaster impact process can be used to identify specific segments of each community that will be affected disproportionately (e.g., low income households, ethnic minorities, or specific types of businesses). Third, information about the disaster impact process can be used to identify the event-specific conditions that determine the level of disaster impact. Fourth, an understanding of disaster impact process allows planners to identify suitable emergency management interventions. The process by which disasters produce community impacts can be explained in terms of...
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...ELIZABETH AMES CROWN BUSINESS ALSO BY STEVE FORBES Power Ambition Glory (coauthored with John Prevas) Flat Tax Revolution A New Birth of Freedom To the millions of individuals whose energy, innovation, and resilience built the Real World economy. Their enterprise, when unleashed, is always the answer. Copyright © 2009 by Steve Forbes and Elizabeth Ames All rights reserved. Published in the United States by Crown Business, an imprint of the Crown Publishing Group, a division of Random House, Inc., New York. www.crownpublishing.com CROWN BUSINESS is a trademark and CROWN and the Rising Sun colophon are registered trademarks of Random House, Inc. Library of Congress Cataloging-in-Publication Data Forbes, Steve, 1947How capitalism will save us / Steve Forbes and Elizabeth Ames.—1st ed. p. cm. Includes index. 1. Capitalism—United States. 2. United States—Economic policy. 3. United States—Economic conditions. I. Ames, Elizabeth. II. Title. HB501.F646 2009 330.12'20973—dc22 2009032751 ISBN 978-0-307-46309-8 Printed in the United States of America DESIGN BY BARBARA S T U R M A N 1O 9 8 7 6 5 4 3 First Edition CONTENTS INTRODUCTION W h y Capitalism Is the Answer: The iPod Economy • i CHAPTER ONE "Is Capitalism Moral?" • 29 CHAPTER TWO "Isn't Capitalism Brutal?" • 66 CHAPTER THREE "Aren't the Rich Getting Richer at Other People's Expense?" • 108 CHAPTER FOUR "Aren't Higher Taxes the Price We Pay for a Humane...
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...------------------------------------------------- Money and Banking 2e Croushore – All Chapters – Perfect Solution ------------------------------------------------- Click on the link below (hwmojo.com link in blue) to purchase Solutions ------------------------------------------------- ------------------------------------------------- http://www.hwmojo.com/products/mb2 ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Email us if you need help with your assignments, problems and quizzes. support@hwmojo.com ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Chapter 1—Introduction to Money and Banking MULTIPLE CHOICE 1. Economic policy affects a. | only the amount of money in the economy. | b. | how banks operate and only banks. | c. | the entire financial system. | d. | how financial securities are traded and no other part of the financial system. | ANS: PTS: 1 DIF: Basic TOP: Introduction to Money and Banking TYP: Factual 2. A financial policymaker not mentioned in Chapter 1 is the a. | Securities and Exchange Commission (SEC). | b. | Federal Deposit Insurance Corporation (FDIC). | c. | Consumer Financial...
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...------------------------------------------------ Money and Banking 2e Croushore – All Chapters – Perfect Solution ------------------------------------------------- Click on the link below (hwmojo.com link in blue) to purchase Solutions ------------------------------------------------- ------------------------------------------------- http://www.hwmojo.com/products/mb2 ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Email us if you need help with your assignments, problems and quizzes. support@hwmojo.com ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Chapter 1—Introduction to Money and Banking MULTIPLE CHOICE 1. Economic policy affects a. | only the amount of money in the economy. | b. | how banks operate and only banks. | c. | the entire financial system. | d. | how financial securities are traded and no other part of the financial system. | ANS: PTS: 1 DIF: Basic TOP: Introduction to Money and Banking TYP: Factual 2. A financial policymaker not mentioned in Chapter 1 is the a. | Securities and Exchange Commission (SEC). | b. | Federal Deposit Insurance Corporation (FDIC). | c. | Consumer Financial...
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...Real Estate Development and Investment Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia and Asia, Wiley is globally committed to developing and marketing print and electronic products and services for our customers’ professional and personal knowledge and understanding. The Wiley Finance series contains books written specifically for finance and investment professionals as well as sophisticated individual investors and their financial advisors. Book topics range from portfolio management to e-commerce, risk management, financial engineering, valuation and financial instrument analysis, as well as much more. For a list of available titles, please visit our Web site at www.Wiley Finance.com. Real Estate Development and Investment A Comprehensive Approach STEPHEN P. PECA John Wiley & Sons, Inc. Copyright # 2009 by Stephen P. Peca. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance...
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...BAY AREA SOCIAL SERVICES CONSORTIUM Understanding Poverty From Multiple Social Science Perspectives A Learning Resource for Staff Development In Social Service Agencies Michael J. Austin, PhD, Editor BASSC Staff Director Mack Professor of Nonprofit Management School of Social Welfare University of California, Berkeley 510-642-7066 mjaustin@berkeley.edu August 2006 1 Table of Contents Introduction – Michael J. Austin, Guest Editor Part I Multiple Social Science Perspectives of Poverty Theories of Poverty: Findings from Textbooks on Human Behavior and the Social Environment Amanda J. Lehning, Catherine M. Vu, & Indira Pintak Economic Theories of Poverty Sun Young Jung & Richard Smith Sociological Theories of Poverty in Urban America Jennifer Price Wolf Psychological Theories of Poverty Kelly Turner & Amanda Lehning An Anthropological View of Poverty Kristine Frerer & Catherine Vu Political Science Perspectives on Poverty Amanda Lehning Theories of Global Poverty in the Developed and Developing World Jennifer Morazes & Indira Pintak Part II Theory Integration and Practitioner Perspectives Social Capital and Neighborhood Poverty: Toward an Ecologically-Grounded Model of Neighborhood Effects Kathy Lemon Osterling Social Work Students’ Perceptions of Poverty Sherrill Clark The Explosive Nature of the Culture of Poverty: A Teaching Case Based on An Agency-based Training Program Catherine Vu & Michael J. Austin 2 ...
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...Dictionary of Economics A & C Black London First published in Great Britain in 2003 Reprinted 2006 A & C Black Publishers Ltd 38 Soho Square, London W1D 3HB © P. H. Collin 2003 All rights reserved. No part of this publication may be reproduced in any form or by any means without the permission of the publishers A CIP record for this book is available from the British Library eISBN-13: 978-1-4081-0221-3 Text Production and Proofreading Heather Bateman, Katy McAdam A & C Black uses paper produced with elemental chlorine-free pulp, harvested from managed sustainable forests. Text typeset by A & C Black Printed in Italy by Legoprint Preface Economics is the basis of our daily lives, even if we do not always realise it. Whether it is an explanation of how firms work, or people vote, or customers buy, or governments subsidise, economists have examined evidence and produced theories which can be checked against practice. This book aims to cover the main aspects of the study of economics which students will need to learn when studying for examinations at various levels. The book will also be useful for the general reader who comes across these terms in the financial pages of newspapers as well as in specialist magazines. The dictionary gives succinct explanations of the 3,000 most frequently found terms. It also covers the many abbreviations which are often used in writing on economic subjects. Entries are also given for prominent economists, from Jeremy...
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...Principles of Measurement Mosso member of the FASB FASB’s Conceptual Framework project over the period 1973-1985 Define measurement Measurement is the assignment of numerals and other symbols to represent the magnitude of an attribute of a phenomenon Phenomenon A thing or event of interest E.g. a table, a performance, an exam Attribute A characteristic or quality of the phenomenon to be measured Magnitude The extent to which the phenomenon has the attribute Often we can’t directly observe a phenomenon of interest We need to find a substitute Direct observation- the only time we can accurately observe the attribute and phenomenon How happy is the baby? Phenomenon-baby Attribute-happiness Can you measure this attribute directly? NO Smiles per hour Laughter per day Financial Statements: When investors focus on a company’s net income, is net income necessarily the investors’ attribute of interest Firm performance Firm future performance What two things do accounting measures often represent Performance- what have we done? Position- what do we have? Business Strategy and Accounting USSBA Too many teams to manage What is strategy according to Porter? Strategy is creating a fit among an organization’s activities (to enable it to realize its goal or mission). The success of a strategy depends on doing many things well and integrating among them Operational Effectiveness versus Strategic Positioning Operational effectiveness Performing similar activities...
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