The Giant Pool Of Money

Alan Greenspan s refusal to raise interest rates persuaded investors to create un palp equalistic real estate securities in to secure short-term profitsReflectionIn reflection , it seems near inconceivable that heap could be so greedy and so foolish . Clearly , and without question , any rational kind being must have realized that the loans being encompassing were extraordinarily risky and that at that place would be a towering rate of default of foreclosure . This applies to both the wealthiest bankers and the poorest category buyers . It would therefore be unfair to burden notwithstanding the rich or only the poor . Both can calculate simple mathematics and these loans were pure speculation and destined to fail . More blame should be assigned to Alan Greenspan and the Federal Reserve Bank . This is because these people were trained economists , they realized that maintaining low interest rates would send investors of these huge pools of new silver toward riskier investments , and even when the housing smatter appeared they refused to raise interest rates in to steer money toward safer investments .

Even a sixth grader , without being sarcastic , realizes that an single earning six dollars a month cannot afford a home mortgage of eight dollars a month this is elementary extension and this is precisely how the frugal crises originated . To be sure , hindsight is clearer than foresight theless , there is something very suspicious about Harvard and Stanford-trained economists not being able to predict that unverified loans on such a vast scale would not at some pint wrinkle like a house of cards . The current economic crisis is clearly the p[product of human fallibility and greed and the blame must be spread broadly because everyone suffering is to some extant to blameWorks Cited The behemoth Pool of Money This American Life From WBEZ , National earthly concern Radio (May , 9 , 2008 . Retrieved...If you want to get a broad essay, order it on our website: Ordercustompaper.com

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