Exploring the Foreclosure Crisis and Steps to Ensure That...

In the past years we have seen a huge decline in the housing market. There have been numerous failures with some of our large institutions and we have woken up in a financial work completely different from two years ago. Our current recession was brought on by many things. People have been using their home equity lines as credit cards, corporate greed, bad loans including subprime, and a lot of very bad decisions by consumers. Our government has taken many steps towards trying to improve our current crises. The Tarp program was a last minute quick fix of temporary assets in a last attempt to help failed financial institutions. These funds are a ticking time bomb. It appears there is light at the end of the tunnel and our U shaped†¦show more content†¦I think we should start a government funded program that encourages people to purchase homes and teaches them about debt and how to manage their finances. Not everyone can afford an accountant or a CPA so we need to giv e people the knowledge and tools to be able to help themselves and make sure our personal debt is under control and help us fix every other situation we are in. People need to be taught the importance of credit scores and saving. So many people I know did not know anything about credit and ruined it from their early twenties. Your credit and your savings are key to a strong financial foundation. We could have different seminars for people so they can truly learn and offer it free to the public. We could have knowledgeable bankers volunteer and help people understand. It was the greedy financial institutions, the lenders who did not verify vital information, and the households that did not manage their wealth and were living beyond their means that led to this crisis. There is not one person or institution to blame for this crisis. We have only to look in the mirror. We have all made bad decisions. I myself did not know until recently that outstanding debt effects credit. There is so much each of us does not know and it is my dream to become a banker and be able to help people with my wisdom in finance. I would like to help people who do not know about fixing and building their credit and teach them howShow MoreRelatedDevelopmental Psychology14082 Words   |  57 Pagessocially. There are many different theories and they all take a stand on 3 basic issues: Is the course of development continuous or discontinuous? Does one coarse of development characterise all children or are there many possible courses? Are genetic or environmental facto rs more important in influencing behaviour – nature versus nurture controversy? In this essay I am going to discuss the ideas of Vygotsky’s sociocultural theory and The Information Processing approach regarding these three aspectsRead MoreDevelopmental Psychology14091 Words   |  57 Pagessocially. 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