https://padlet.com/avasquez2825/myqedosd61zhcgl2 en-us 2022-05-27 18:12:43 UTC 2022-06-02 04:04:41 UTC hello@padlet.com avasquez2825 https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207678600 Loans given to people with low credit that is close to the full cost of a house. They can be very risky because of the expensive bills people may default on.]]> 2022-06-01 15:28:04 UTC https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207678600 avasquez2825 https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207688784 It is when a loan is bought by bank investors. It can be a problem when the price of the house drops the investors loose money. So they stop investing in the bank and thus the bank is no longer getting their money. This can cause the bank to go bankrupt as seen in the 2008 crisis.]]> 2022-06-01 15:35:27 UTC https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207688784 avasquez2825 https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207857437 Was the first to be at risk of bankruptcy because of investor pull out. "Housing became capital instead of shelter." 

U.S. bailed out Bear Stearns for $30 million to prevent its collapse that would stress out and collapse the rest of the stock market. ]]> 2022-06-01 17:59:10 UTC https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207857437 avasquez2825 https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207857511 Owned half of U.S. mortgages and were on the verge of collapse. Government unable to help. Henry Paulson wanted to nationalize the two companies. ]]> 2022-06-01 17:59:13 UTC https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207857511 avasquez2825 https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207857560 House prices were high. People lied about income to get loans. Then they would flip the house to make millions. House prices dropped. Investors pulled out of banks and foreclosures sky rocketed. ]]> 2022-06-01 17:59:16 UTC https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207857560 avasquez2825 https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207857983 Can't be bailed out by government so the U.S. asks companies and Britain to bear the burden. The British decline and the plan falls through. ]]> 2022-06-01 17:59:39 UTC https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207857983 avasquez2825 https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207868557 Because of fears of financial collapse companies cut pay to brace for the worst and to mitigate already existing issues. ]]> 2022-06-01 18:09:02 UTC https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207868557 avasquez2825 https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207868745 Obama and McCain campaign on promises to help the people of the U.S. rather than the big banks. Obama, confident of victory, communicates with Paulson. McCain suspended his campaign. President Bush, the candidates, and cabinet meet to come up with a plan. Meeting falls through.]]> 2022-06-01 18:09:12 UTC https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207868745 avasquez2825 https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207931833 Proposed by Henry Paulson, the law would allow the U.S. to buy banks risky assets in order to bail out the banks. It was very unpopular among citizens because they weren't being bailed out for their mortgages, but wealthy bankers were. it failed in a September vote, but was successful in October. After the September failure the stock market had its largest drop since 1987. This drop was by 8%. ]]> 2022-06-01 19:04:37 UTC https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207931833 avasquez2825 https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207931931 This came into being as a result of the EESA law. It was widely unpopular but was able to stabilize the economy and prevent a depression. ]]> 2022-06-01 19:04:43 UTC https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2207931931 avasquez2825 https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2208403917 During his presidency the economy recovered, but his policies of social welfare including a bailout of homeowners facing foreclosure were unpopular among republicans. It lead to the creation of the tea party that rejected "socialist" policies. As well a rise in populism as part of a reaction from the financial crisis lead to the election of Trump. ]]> 2022-06-02 03:57:40 UTC https://padlet.com/avasquez2825/myqedosd61zhcgl2/wish/2208403917