Blog Post 5: Final Essay Outline

Paragraph 1 – Thesis

In the last twenty years, various corporate scandals and bankruptcies have had terrible effects on the public, which has called for better Federal and State regulation of Corporate Control in both private business and the operation of the stock market. Specific incidents involving the Exxon Valdez accident, the massive fraud at Enron, WorldCom, Arthur Anderson, and the serious mortgage value calculation failings by nationwide mortgage brokers associated with Freddie Mac and Fannie Mae are several examples of the need for better corporate control in firms and on Wall Street to better protect the public.

Paragraph 2 – The Goals of corporations

Ø  Supporting Idea – Their goal is to expand and maximize profits

Ø  Supporting Idea – Corporations have a responsibility to the community. They should be a goal

Paragraph 3 –     Corporate Business Ethics

Ø  Supporting Idea – Corporations should help expand the economy

Ø  Supporting Idea – Businesses need to take care of their employees

Paragraph 4 – The American Dream

Ø  Supporting Idea – The Booming American Economy in the 1990’s causes owning a home to be achievable.

Ø  Supporting Idea – Mortgage Companies were offering minimal credit test mortgages.

Paragraph 5 – Mortgage Rates and Borrowing Money

Ø  Supporting Idea – Mortgage Rates were low allowing more money to be borrowed.

Ø  Supporting Idea – Rising home prices gave a false sense of wealth and equity.

Paragraph 6 – Wall Street

Ø  Supporting Idea – The Goal of wall street is to make money

Ø  Supporting Idea – Mortgage broker and Bankers were over optimistic and acted recklessly.

Paragraph 7 – National Credit Agencies

Ø  Supporting Idea – They overvalued subpar mortgages.

Ø  Supporting Idea – Triple A ratings were given to mortgage backed securities which tempted investors.

Paragraph 8 – Reckless Behavior Became Public Information

Ø  Supporting Idea – When the knowledge became public people started defaulting on their mortgages.

Ø  Supporting Idea – The rates of Adjustable Rate Mortgages skyrocketed.

Paragraph 9 – Banks and Investors

Ø  Supporting Idea – Banks and investors began losing huge sums of money.

Ø  Supporting Idea – The Banks themselves began to fail and the government bailed them out.

Paragraph 10 – Recognition of the Crisis and Summary of Early issues

Ø  Supporting Idea –Instead of recognizing the issues that were arising companies encouraged dangerous behaviors

Ø  Supporting Idea – The system awarded fraud and falsely believing in a housing bubble that wouldn’t burst.

Paragraph 11 – What has been done since the crisis – Wall Street

Ø  Supporting Idea –Wall Street Reform act was passed

Ø  Supporting Idea –Mortgage Reform and Anti Predatory Lending act were passed

Paragraph 12 – What has been done since the crisis – American Public

Ø  Supporting Idea – Local Heroes have been working on a more sustainable form of housing.  

Ø  Supporting Idea – Private Lenders are realized that banks weren’t lending

Paragraph 13 – What has been done since the crisis – Banks

Ø  Supporting Idea –Regulators are trying to pass a minimum down payment of 20%.

Ø  Supporting Idea – Banks are fearful to Lend and are only accepting people with proper financial backing.

Paragraph 14 – Conclusion

Ø  Supporting Idea – Summary

Ø  Supporting Idea – Final stance

Blog Post 4: Compare and Contrast

The purpose of this paper is to compare and contrast the implications of using cash and credit in today's society. In our current socioeconomic climate there is much discussion on the importance of these two forms of payment. The tender we use effects the health of our economy and the fluidity of commerce. Therefore, a clear understanding of the pros and cons of these two forms of payment is a necessity to exist and thrive in this modern world.

My First Bog Post

Summary

       In Peter Martins "Destroyed" the author discusses the mental, physical, and moral implications of performance enhancing drugs. Peter Martin debates whether performance enhancing drugs such as steroids should be considered cheating and compares them to other acts of cheating such as corking a bat. In his argument over cheating he also discusses the effects that cheating has on the fans of sports and the unrest it causes. He also examines the physical effects on the athletes and explains that they have long reaching effects that can lead to a shortened lifespan.             

       In the end, the author concludes that “Competition is to be played fairly and naturally...” (Martin 581) and that while the drugs can be damaging to sports, they are detrimental to athletes health.

Paragraph #10

      In the 10th paragraph of this story the author explains the most pressing issue with performance enhancing drugs, the physical ones. He talks about anti-steroid messages that depict limps falling off of bodies and how that really isn’t that far from the truth. He explains that the effect of steroids are bitter sweet because they give the user a great amount of strength but they damage the body in the process. He gives the example of Ken Caminiti who look steroids regularly during his baseball career and died at the young age of 41 due to a heart attack. He concludes when it comes to steroids we need to be looking out for the players more than the game.

My Favorite Part

      My favorite quote from this article has to be "The fields, once clean, are soaked in juice" (Martin 581).  This sentence brings a lot of intense imagery to my mind and really helps the reader understand to what extent performance enhancing drugs have effected sports.

Sources

Martin, Peter. "Destroyed." The Bedford Reader. 11th Ed.  Boston, MA 02116: Bedford/ST. Martin's, 2012. 580-582. Print.