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Pages:
7 pages/β‰ˆ1925 words
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4 Sources
Style:
APA
Subject:
Mathematics & Economics
Type:
Research Paper
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 36.29
Topic:

Research Main Causes of the Financial Crisis of 2008-2009

Research Paper Instructions:

It is a requirement of this course to take a pre- and post-test. The pre-test will not impact your final grade; it is designed to measure general knowledge on economics. The post test, however, will count as 5% of your final grade.

 

Policies and Procedures

Keiser University policies and procedures are available in the latest issue of the University Catalog. Please be sure to refer to the University Catalog for additional policies.

Standards of Appearance 

Each student must maintain proper personal appearance and dress professionally.

  • Women must not wear flip-flops, shorts, jeans, leggings, or tennis shoes.
  • Men must wear collared shirts and ties. Jeans or tennis shoes are not permitted.
  • If you are unable to appear in proper attire you will not be admitted to class and will be considered absent (unexcused).

 

Academic Honesty

It is the policy of the Keiser University that students assume responsibility for maintaining honesty in all work submitted for credit and in any other work designated by the instructor of the course.

 

Plagiarism: Any form of cheating or plagiarism is dishonest and will have serious consequences. The Modern Language Association defines this transgression:

 

Scholarly authors generously acknowledge their debts to predecessors by carefully giving credit to each source. Whenever you draw on another’s work, you must specify what you borrowed whether facts, opinions, or quotations and where you borrowed it from. Using another person’s ideas or expressions in your writing without acknowledging the source constitutes plagiarism. Derived from the Latin plagiarius ("kidnapper"), plagiarism refers to a form of intellectual theft. . .In short, to plagiarize is to give the impression that you wrote or thought something that you in fact borrowed from someone, and to do so is a violation of professional ethics. (Joseph Gibaldi, MLA Style Manual and Guide to Scholarly Publishing. 2nd. ed, New York: MLA, 1998: 151).

 

Failure to give credit to another person for his ideas or words is considered plagiarism.

 

The penalties for plagiarism will be enforced.  They are as follows:

 

Partially plagiarized assignments

 

1st offense—automatic “F” for the assignment

2nd offense— automatic “F” for the course

3rd offense— automatic dismissal from the University

 

Entirely plagiarized assignments

 

1st offense—automatic “F” for the course

2nd offense— automatic dismissal from the University

 

It is the student’s responsibility to understand what plagiarism is.  If the student has any question as to what constitutes plagiarism, he or she needs to see the instructor.

 

Tips to Avoid Plagiarism

Although references are listed at the back of a paper, the paper can be construed as plagiarized, unless the text contains proper quotation marks* and citations in the body.

  • Quotation marks must be inserted when using the exact words of another. The source must be documented with the appropriate citation.
  • When paraphrasing the ideas or words of another, use only your own words and document with the appropriate citation.
    • Proper paraphrasing does not mean changing a few words here and there, nor does it mean omitting a few sentences or scrambling their order.
    • It is always best to paraphrase and to only quote when the original author has stated something in a particularly profound manner that paraphrasing would dilute.

 

  • Papers that consist of an excessive number of quotes and/or excessively lengthy quotes are not considered original work and may be downgraded (by one or more grade-levels, including failure of the assignment) or returned to the student to re-write.
Research Paper Sample Content Preview:

Financial Crisis of 2008-2009
Student’s Name
Professor’s Name
Course
University
Date
Introduction
The global financial crisis of 2008 -2009 was appalling. Millions of Americans lost their job and homes. Almost $13 trillion in family wealth was ruined, eradicating about two decades of gains. This report will examine the economy decline between 2008 and 2009 explaining its main causes, the government response between 2008 and 2010, the prolonged recovery of recession, and the high unemployment rate for a longer period. Furthermore, the report will explain why salaries of middle class stagnated for a longer period and the preparedness of the U.S. economy for another financial crisis. The report will utilize statistics and graphs to provide profound understanding of the financial crisis (The Pulse of Capitalism, 2011).
Main causes of the financial crisis of 2008-2009
Until the 2008 global financial crisis, the U.S. economy had a steady growth. In 2003, the GDP was $306.5 billion, which almost equaled the average of 1993-2000 that was $326.2 billion. Moreover, in 2004 the GDP increased to $460.3 billion. However, the economy started to worsen in 2006 when there was a rapid increase of housing prices. Between 2008 and 2009, the country economy worsened further after experiencing the global financial crisis. The financial crisis of 2008-2009 was caused by various factors, including wrecked international monetary system, securitization of loans, and market-to-market accounting (The Pulse of Capitalism, 2011).
The trade imbalance between the developing and developed nations contributed to the global financial crisis. By keeping their currencies artificially depressed against the U.S. dollar through purchasing dollars with newly printed native currencies, export oriented countries, such as China amassed substantial reserves of dollars. Similarly to the petrodollars of the 1980s these funds were then recycled back into the U.S. fiscal system. To put this money to proper use, financial firms had little options but to lower underwriting standards and thus increase the group of prospective borrowers (Thomas, Hennessey, & Holtz-Eaki, 2011).
Banks conventionally retained most of the loans that they originated, which gave lenders incentive to underwrite loans that had only little possibility of defaulting. However, the introduction and propagation of securitization resulted to decreased incentive to check the quality of underwriting standards since the originating bank did not hold securitized loans (Thomas, Hennessey, & Holtz-Eaki, 2011).
In 1990s, the SEC and FASB required public companies to value their assets at market value as opposed to historical cost, a practice that had been deserted during the great depression. This dragged nearly all banks in the country into insolvency from an accounting viewpoint when the credit market seized in 2008 and 2009, thus rendering it unfeasible to value assets (Thomas, Hennessey, & Holtz-Eaki, 2011).
After the twin oil embargoes of the 1970s oil producing nations started to amass, substantial reserves of petrodollars that were later recycled back into the U.S. financial system. This circumstances forced banks and other types of financial firms to plac...
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