Tuesday, November 6, 2012

Exploration 8

                                                            Exploration 8
     The Global crisis began in 2006 and continued through 2008.  The United States began foreclosures on peoples

homes who were unable to make their payments on their mortgages. People had began extreme borrowing and defaulting

on homes.  Our Nation at this time was already in extreme distress especially in the finance area.  With this extreme

borrowing and the defaulting pushed us over the edge.

      Having faulty mortages and non-payment lead up to this tremendous foreclosure crisis.  Leaving the houses empty

and no one to buy them.  The lack of buyers of the houses made the once great prices now plummet to the lowest that

the United States ever experienced.  Of course this rattled the stock market and Wall Street they panicked like they have

done before.
     With this happening at Wall Street it made investors not wanting to make risky investments and the mortgage

companies that had sold these very, very, very risky loans were now themselves faced to close their businesses.                

Every single American well most wanted to own their own home.  In wanting a home it was a big price tag.  So they

would go to a bank and apply for a low interest loan to put down on their first home. 
     The quickest way that a mortage crisis happens is to have the loans given to those people who do not or did not

have good or excellent credit.  During this time the prices for houses were cheap and the interest rates were the lowest

ever.  So many Americans who were wanting to take a chance and go into debt thought the economy was doing very

well at this time.  It was not not doing well at all.  This was kept hidden by the investors and those at the top of the

economy chain from us all.
     Then one day you hear that 'The Bubble' had burst!  It had burst wide open reveling issues that began with excess

capital reduction.  It was announced this all begun in the early 2000's with investors given hugh incentives.  By given

these incentives they invested in low-risk investments.  Those low-risk investments rentenered them a Big Fat Wealthy

      It starts this way you have a mortgage broker who contacts another broker and passes on a mortgage loan to another,

they then in turn pass it on and on.  That broker then sells that mortgage to a bank, who then sells it to investment firms.
 So on and on it goes until it is loaned out to the consumer which is a person like you or me.  We have been lied to

but are unaware of this fact until we are render until to make our payment.  This was a real eye opener to me that their

are so many out there who do not care who they hurt.  As long as they have their million, trillion dollar homes.

     I am not one who thinks that people should not have their nice homes, boats, vacation homes etc.. I am just saying it

makes me very sad and very angry when it is at the cost of innocent hard working people,  People who are trying to

better themselves and than they are out and out lied to by the people the borrow from.  When they can't make payments

due to things out of their control and told they are losing their homes.  To me it sucks so big time.  I can't stand these big

whigs who think their excuse the french here (sxxx) don't stink. 

     Those men in that movie thought it was all so funny.  They did not have anything to worry about.  They had money,

food, a roof over their heads so why do they care that hard working Americans were straving, homeless, jobless and so

many who had lost hope.  I am glad I saw this movie and will get it again to watch it with any interuptions.



  1. I agree with you because it does suck when the wealthy people are taking money and homes away from people like us. We work so hard to get where we are and then all of the sudden everything is taken way from us. Such as our homes, jobs, money, etc. It makes me mad too, knowing that people are out there doing this to us, and not even caring about it.

  2. It was very sad to see most of these men had no remorse for what their actions had caused. It would be interesting to have talked to some of the people who worked for the companies like Goldman Sachs and Lehman Brothers, but who did not receive the financial benefits the higher ups did. I bet they have some things to say that people need to hear, especially these former CEOs.