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Third assignment - Admission/Application Essay Example

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The two political factions suggest that Wall Street is to blame for the recent financial collapse experienced in the country and the financial fraud that consumers in the…
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Third assignment

Download file to see previous pages... They argue that the bill would also regulate and fix the broken economy system. On the brighter side, the objectives are good for all American citizens but after a closer analyzing of the bill, Democrat’s focus is primarily the fixing of Wall Street.
There are fundamental questions that no person in the official circle seems to be asking him or herself before passing this bill. The officials need to ask themselves questions like, “how do we revamp the financial services sector setting it in a way that it directs money to the place where it is mainly needed?” T he other question that they ought to ask themselves is, “how do we ensure that this money helps create employment to and ensure that Americans consistently get the necessary services and goods?”
Trying to fix the Wall Street will not help achieve their objective, as it does not affect the American people since it concentrates on matters to do with its own bonuses and profits a trend it started after the financial collapse experienced in September 2008. The current situation where Wall Street is reporting record bonuses and profits can be attributed to the almost free credit, which is constantly flowing, given from the Federal Reserve to big banks. As the Wall Street experience this good run, the main street on the contrary has failed to recover from the 2008 financial crisis as occurrences such as bankruptcies, foreclosures, high unemployment and low wages are present (Bowman and Rugg 34). One reason for considering that the system is totally destroyed beyond repair is the Wall Street brokers decision to rig the system so that even if a financial collapse occurs, they would still be guaranteed to take their bonuses home.
Republicans have always been of the idea that the government should have left the Wall Street banks to collapse since Wall Street contributed to the financial crisis. ...Download file to see next pagesRead More
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