The Role of the Community Reinvestment Act on the 2007...

The Role of the Community Reinvestment Act on the 2007 Housing Bubble Collapse The reality of the worst financial crisis in the last 80 years has led to wide speculation of its causes. While a plethora of theories have been offered, none have been as persistent and as patently false as the assertion that the Community Reinvestment Act of 1977 played a significant role in the housing bubble collapse. Critics of the Community Investment Act (CRA) argue that by pushing banks to meet the credit needs of low-income borrowers, the law forced lending institutions to take on riskier loans that proved to be fiscally irresponsible. The securitization and speculation of these low quality loans led to the housing bubble collapse and the wider†¦show more content†¦The Act dictated that relevant supervisory agencies ensure depository banks fulfill the credit and lending needs in the areas in which they were chartered. The Act goes on to state that all business must continue to be conducte d within sound operating practices. Compliance (or lack thereof) would be taken into account when approving applications for expansion through new charters, mergers and acquisitions. The law makes no attempt to evaluate the performance of any given institution, nor does it establish minimum criteria for granting an individual or business a loan. The CRA does not mandate that an institution take on any particular types of loans, or approve certain applicants. With the obvious incentives of complying with the CRA, local bankers began to tap into markets that would have been considered prior to CRA enforcement in the late 70’s. These lower-income areas proved fiscally viable, and began to draw the attention of financial institutions other than depository banks. These investment banks were involved in speculative investment and resale of mortgages and were not regulated under the terms of the CRA. Non-CRA covered lending institutions have played an increasingly large role in lending to low-income neighborhoods since the law was enacted. The primary claim of those who believe the CRA played aShow MoreRelatedThe Financial Market Analysis On Fiscal And Fiscal Sector1538 Words   |  7 Pagesto inject money in the economy has helped jump start the economy. The cost of the economies revival was at the expense of banks giving out mortgage loans to individuals with poor credit. With the help of deregulation and historical trends of the hous ing prices, financial analysts felt no harm in giving loans to individuals as long as house prices were rising, the default risk would be zero. Soon the mortgages went underwater, since the price of an individual’s house was lower than the mortgage paymentRead MoreThe 2008 Housing Crisis: A Brief Overview of Causes Essay examples1653 Words   |  7 PagesThe 2008 Housing Crisis: A Brief Overview of Causes In 2007, the U.S. fell into a deep financial recession. One of the main causes of this was the bursting of the housing bubble, which lead to a housing crisis. What is a housing bubble? A housing bubble is defined as â€Å"a temporary condition caused by unjustified speculation in the housing market that leads to a rapid increase in real estate prices† (businessdictionary.com 2014). When the bubble bursts, the result is a quick decline in home pricesRead MoreUnethical Behaviors And Roles Of The Top Financial1623 Words   |  7 PagesAbstract This paper explores the unethical behaviors and roles of the top financial executive’s in house market crash. In 2008, a financial crash down landed at front door of every United States citizens. Bankruptcy of big financial institutions, stock and house markets crashed. These aspects contributed to a global economic financial crisis. This paper hypothesizes that it is the manner in which the top financial executives used greed and fraud to run the United Sates that led the country into aRead MoreThe Term Global Financial Crisis (Gfc) Refers To The Financial1745 Words   |  7 PagesFinancial Crisis (GFC) refers to the financial crisis of 2008-2009 that, according to leading economists, is the worst financial crisis since the Great Depression (Eigner, 2015). The crisis began in 2007 due to a mortgage market failure in the United States and in the following year, with the collapse of the Lehman Brothers investment bank, advanced into an international banking crisis, which then developed into a global economic crisis, The Great Recession (Williams, 2010). This essay will concludeRead MoreSubprime Loans: The under-the-radar loans Essay example1851 Words   |  8 Pagesvetted out these companies to verify they were genuine established businesses and not simply shells developed to make a fast buck and get out of business quick before the obvious consequences of their actions appeared? Once the effects of the housing bubble were evident who was responsible for managing the fallout? Creating a scapegoat is not a practical way to respond to the handling of business difficulties, therefore I will not attempt to place blame on any individual or group. Instead, I wouldRead MoreWhat Was the Main Cause of the Financial Crisis in 2007-2009?1989 Words   |  8 Pagesthat took place between 2007-2009, in particular focusing on some key issues raised by the Foote, Gerardi and Willen paper ‘Why did so many people make so many Ex Post bad decisions?’ Whilst there were many contributing factors, it is clear that a specific few played a particularly dominant role, primarily the ‘Bubble Theory’, irresponsible regulation, toxic CDO’s and $62 trillion of CDS’s. ‘That’s what bubbles are: they’re examples of mass delusions’ (Norcera, 2011). Bubble theory’s are by no meansRead MoreEssay on Subprime Lending1808 Words   |  8 Pagesand impact of America. Before 1930, features of Housing loans presented significant challenges. To obtain a home loan a down payment of half the value the house was required. Further issues with these loans were large balloon payments and short maturities. The pricing for mortgage loans varied widely due to no nationwide housing market. The main funding for these loans was provided by life insurers, thrifts, and commercial banks. By 1932, a housing crisis was wreaking havoc on home loans. The estimatedRead MoreThe Great Depression Of The 1930s Essay1689 Words   |  7 Pagesother hand, was a more recent recession caused by sub-prime mortgages and mortgage backed securities, that didn’t have as much of a lasting effect as it did on having a spreading effect on other economies. It is important to look at the causes of the bubbles, scale of economic crisis’s, and the economic effects to identify similarities and differences between to the two crisis’, because it helps gather a firm understanding and better prepare us for a future crisis. Causes The Great Depression In AmericaRead MoreLa Salle University : The Volcker Rule Case Study2458 Words   |  10 PagesGiambuzzi FIN 306-01 Financial Services Industry Dr. Elizabeth W. Cooper February 20th 2015 The Glass-Steagall Act was a law enacted right after the stock market crash of 1929, whose intent was to split commercial and investment banking activities into two different entities. The main objective of the act was to prevent future crises and bank runs. The provision of the act disallowed commercial banks to deal with underwriting and/or dealing in securities, and to have a cap in place on theRead MoreThe Assertion By Lawrence And Weber Essay2638 Words   |  11 Pagesthrough the events leading up to and during the housing crisis in which government regulation, wall street investors and bankers and citizens converged through a series of bad legislation and regulation, poor investment and lending practices and individual over extension and personal finance management to create the perfect economic storm that lead to the collapse of the housing markets. Consumers vs. Lenders A key point of contention during the housing crisis was issue of who was at fault, the lenders

Physical and Motor Development Essay - 1413 Words

Physical and motor development are two similar but different areas that describe child development. Physical development encompasses all of the various changes a childs body goes through. Those changes include height, weight, and brain development. Motor development is the development of control over the body. This control would involve developing reflexes such as blinking, large motor skills like walking, and fine motor skills like manipulating their fingers to pick up small objects like Cheerios. It is important to objectively study physical and motor development in children to gain knowledge on what characteristics are considered typical for each age and stage of development. This will enable me to be aware of when a child or children†¦show more content†¦Physical Development â€Å"R† is 28.5 inches tall. She weighs 20 lbs. Her head is  ¼ the size of her body, as supported by Santrocks graph (2013, pg. 136). She has long legs. â€Å"R† is both breast and b ottle fed, in addition to consuming foods such as rice cereal, Cheerios, and pureed fruit and vegetable baby food. She is current on her immunizations. According to Physical and Motor Development, at one year old, an average child will have nearly tripled their birth weight and will be between 32-36 inches tall (Office of Head Start by the University of Cincinnati, 2012). â€Å"R† was 6lbs 12oz and 19.5 inches long at birth. At 10 months, she has already tripled her weight and is nearing the suggest average height for a toddler. Large Motor Development Overview â€Å"R† is very active. She enjoys walking with the assistance of a push toy or by holding someones hands. She is able to take 5-7 steps on her own. As she is being held, she communicates her wanting to walk by bending her knees, leaning slightly forward, and lifting her legs in an alternating motion . When someone stands up to move around, â€Å"R† enjoys crawling to follow their direction. I stimulated that behavior by getting on my hands and knees on the floor, said â€Å"R, can you follow me?,† and slowly moved until she began to follow me. She plays alone, but is beginning to prefer the company of others to play with. â€Å"R† can jump up and down with the assistance of a stable object such as a chair or activity saucer. She isShow MoreRelatedPhysical Development Of The Fine Motor Skills2115 Words   |  9 PagesInfancy 0 - 3 Years Physical Development Now when looking at a child’s physical development there’s two aspects you have the development of the fine motor skills which are using the smaller limbs in your body like fingers and then you have gross motor skills witch are the larger limbs that help us to walk and to run obviously a child will develop these skills but to begin with when a child is born there bodies start to develop their natural reflexes such as a gag reflex , startle reflex and alsoRead MorePhysical and Motor Development in Preschool Children Essay1042 Words   |  5 Pagesinterests and preferences. Most physical disabilities become more apparent during this time, so observing children for common characteristics is important. We can also observe them and find their levels of cognitive and social development. By knowing these levels we are able to develop daily schedules that can work on the weak points in each individuals life. If a child really needs help with their fine motor skills and another child needs to work on their gross motor skills, then we can pair the twoRead MorePhysical Development ( Fine And Gross Motor Skills864 Words   |  4 PagesTypical physical development (fine and gross motor skills) at this age Fine Motor skills: Kearns states in ( pg 186-170) that fine motor skills involve all functions involving the use of the wrist, palm of the hand and fingers. While children at this stage may appear to have endless energy, they can still tire easily, so a balance of rest and activity is still necessary. Some children in this stage may appear unsuitable attempting one skill, while appearing quite accomplished at other skills; forRead MoreMy First Year Of An Infant s Gross Motor Skill1095 Words   |  5 Pageson 6 different gross motor milestones that generally occur during the first year of an infant’s life. These milestones are head control, segmental rolling, sitting, crawling, standing and walking. Each milestone is then broken down into phases to show the progression of the gross motor skill and when each phase typically occurs. Each milestone is accompanied by a video clip that demonstrates the progression of the milestone. Why the topic was chosen I chose motor development in infants from birthRead MorePhysical Development Of The Physical Brain And Body1375 Words   |  6 Pagesthe physical brain and body (Berk Meyers 2016, p.171). Physical development in early childhood is; awareness of space, body and movement (Rogers Wright 2015, p. 24), development of motor capabilities and physical growth (Berk Meyers 2016, p. 5). From birth to two years, children are experiencing physical change; size and weight, brain development and refinement of motor skills (Berk Meyers 2016, p. 5). The environment, social and genetic aspects all have an influence on the physical developmentRead MoreA Research Study On Infant Motor Development848 Words   |  4 Pageslater in life. Many studies have suggested that it is acceptable for infants who are stimulated earlier in life to remain stimulus in early childhood, late childhood, adolescence, and adulthood. It is also understood that perceived competence of physical activity within early child hood determine whether or not a child will remain physically active in their adolescence years. Within the Adolescence, it is common to see boys and girls stop participating in sports. It is believe that the discontinuationRead MorePhysical Development in Middle Childhood Essay1649 Words   |  7 PagesThe physical, cognitive and socio-emotional domains of human development are influenced by diverse factors. Phases of development extend from the beginnings of human life and continue throughout the lifespan. These developmental phases are characterised by a range of features including brain development, language development and social development amongst others. Gross motor skills include activities such as running, skipping and jumping. They involve the use of the body’s larger muscle groupsRead MorePhysical And Physical Development Of Children867 Words   |  4 PagesPhysical development of children correlates to other areas of development, for example, fine and gross motor and results in healthy development of the brain. A teacher should observe and assess the development of the learners’ fine-motor coordination and gross-motor developmental milestones during outdoor play. However, children grow at different rates, which is an indication that a child may regress in a skill or reach a milestone earlier than another. Therefore, teachers should use the developmentalRead MoreCognitive And Perceptual Development Of Children1517 Words   |  7 PagesDevelopmental Motor Skills in Children Children acquire most of their motor skills from school, which is where they spend most of their time growing up. School settings can enhance motor development in children through play using toys available to them, however, some school environments can also inhibit motor performance. Children have the opportunity to improve and learn new skills from manipulating different objects as well as can practice intertrial variability from playing with others. In orderRead MorePhysical Development Essay1519 Words   |  7 Pagesable to execute numerous fine motor skills that allow them to perform many activates to learn and succeed at school. When most people think of their child’s growth and development they can remember the ages at which their child first rolled, crawled, or walked. How many can recall the age at which they picked up small items between their thumb and index finger, or transferred objects from one hand to another? This is the beginning of motor development. Fine motor skills are the collected skills

Dickinson’s poem “Because I could not stop for Death” Free Essays

Emily Dickinson’s poem Because I could not stop for Death is her personal take on the mystical relationship between life and death. She addresses death from a somewhat cynical and very unique point of view, using metaphor and symbolic imagery to relay her main point, which is that eternity exists here on earth. To get to this point she contrasts the relationship between eternity and the present, and she poeticizes her personal assumptions pertaining to the afterlife. We will write a custom essay sample on Dickinson’s poem: â€Å"Because I could not stop for Death† or any similar topic only for you Order Now In the first two lines of her poem, she personifies death as a tall dark and civil man, whose flattering kindness causes her to be swept away. This is most apparently enforced through lines 6-8 when Dickenson says, And I had put away/ My labor and my leisure too/ For His Civility- (Dickenson, 6-8). Here it is easily identified to the reader that Dickenson feels no threat from death and she is even slightly honored to be in his company. The irony of this statement proposes that death is possibly a casual and antiquated part of life, and not as vile or harsh as some of the many methods through which we go about achieving it. A major motif used in the poem is the aspect of time. The contrast between the temporary and haste-full rush of the present with the open-ended nature of eternity is the main focus of the work, and the force that drives it. It can be seen throughout the poem in multiple ways. This contrasted relationship between the present and eternity is first initiated with the opening line, Because I could not stop for Death-/He kindly stopped for me- (Dickenson, 12). This motif is further used when Dickenson refers to immortality being in the carriage with her, and then when she says, We slowly drove- He knew no haste (Dickenson, 5). Death’s inclination to drive the carriage slowly is most likely due to the idea that time has no meaning in the hereafter. Time on earth is measured by the sun, but this time frame does not apply to death, nor to Dickenson anymore now that she is dead. Her recognition of this fact is another pinnacle point of contrast between the present and eternity. She even acknowledges this value of the sun to signify time when she says, We passed the Setting Sun- / Or rather- He passed Us- (Dickenson, 12 13). Once she passes the sun, and the sun passes her, their relationship no longer has a bearing on her existence. From this moment on in the poem, all of Dickinson’s verses represent her personal assumption of the afterlife, and these lines attempt to find meaning in the unknown. As Dickinson settles into the reality of her own death, she uses phrases like Dews drew quivering and chill- (Dickenson, 14), and terms like Gossamer and Tulle referring to the thickness of her clothing, to point out that it is very cold where she is going and she failed to prepare for the trip. This is a very ironic notion considering that one main premise of this poem is that death is unexpected and waits for no one’s schedule to be clear. Dickinson then likens her soon to be grave to that of a house, which she says looks like the swelling of the ground (Dickinson, 18). Before she comes to her final realization, Dickinson makes her very last comparison to time and eternity when she says, Since then – ‘tis Centuries – and yet / Feels shorter than the Day (Dickenson, 20 21). Here she identifies that she no longer has the same concept of time, as when she was living. This corresponds with her last two lines and her realization that all along immortality had been right beside her. She realizes this through recognizing that the horses heads were facing eternity. I took this as another way of saying time is ever-changing and moving forward and like the children she sees playing, and all of the other surroundings, we are among this endless stream as well. In sum, Dickinson’s poem Because I could not stop for Death, becomes a critique on the way most view life. Few are given the possibility to know the exact moment of their death. Dickenson acknowledges this fact and turns it into a very mystical about entrance into the afterlife. With no more than 24 lines she tells a very saying tale, and where most stories begin with one living and then dying, her begins with her death and ends with her finding the truth behind immortality. This poem is a fable for the living. How to cite Dickinson’s poem: â€Å"Because I could not stop for Death†, Papers