I have a mix feeling about SB1070, I think SB1070 in some ways are trying to protect American citizens but at the same time it created issue with racial profiling and human rights. I do not think migrant workers are taking jobs away but helping US economy, it is because most of the migrant workers are in the field of agriculture which many American are not willing to work in this area. The migrant worker often received low-wages, no health benefits and work under harsh condition for long hours. On the other hand, even in other area such as technology, many technology companies in United States have founded by migrant worker and have created many job opportunity to all American citizens.
Sunday, May 15, 2011
Monday, May 9, 2011
Arizona Senate Bill 1070,
Arizona Senate Bill 1070, this act is to enforce illegal immigration and it brought a lot of attentions nation wide as well as international. The Bill requires all alien to have their documentation with them when they are in Arizona, they claim the reason this bill needs to be done is to protect Americans and to help lower crime rates. Which I personally do not think that is the real reason for it, because many illegal immigrants came to the US to improve their life and living condition and from what I see they are very hard workers and are willing to do jobs that many American refuse to do. I think the idea of having alien to carry their documentation is reasonable, is a similar law to many Asian country that everyone should carry some sort of documentation to prove you are not an illegal immigrant. Overall, I think Bill 1070 needs to be reconsidered and make changes to become actually helpful for the protection of Americans.
Greed brings failure
People all over the world are discussing who and what causes the global financial crisis. Some blame the government, while others blame financial institutions. To me, the global financial crisis happens because of the greedy bankers, the government, and us as consumer. People all around the world are affected by the global financial crisis. It causes many people to face unemployment, business failure, debt, and many other negative impacts. In order to get out of this recession, many rules and system need to be change such as government regulations, the financial institutions system, and us as consumers.
Why blame the government? According to Niall Ferguson, a Harvard and Oxford historian and the author of The Ascent of Money: A Financial History of the World in article “Who’s To blame: Washington or Wall Street”, he says, “My third prime suspect is the congress that wholly failed to supervise Fannie Mae and Freddie Mac, which on the eve of their destruction were leveraged 65 to 1.” It is important that the government realize they need to do a better job monitoring the big corporation and financial institutions. In order to prevent the same disaster, regulations and rules need to be applied. Also, creating a new monitor system is important to ensure big corporations are making the right decision.
On the other hand, banks also play an important role in the global financial crisis. In article “Trading Financial Risk and Job”, it states, “Banks and lending institutions such as
countrywide, Washington Mutual, Fannie Mae, and Freddie Mac adopted the idea of giving sub prime mortgages to people who had no down payments, poor credit, or inadequate regular income”(p.140). Because of the easy loans from banks, people are going over their limits and buying things they can’t afford such as houses and cars. It became a “popular” choice for many Americans to get bank loans when they have the desire of owning something they want, since it’s the easiest and quickest way to get what they want. The bankers show nothing but greed for money. They do not care about anything other than whether they are making profits or not. The bank needs to be monitored by the government and set new regulations. Giving loans to those who can’t afford them and who have bad credit is not going to make their life better. It will negatively affect others all around the world.
In addition, we us consumers are also responsible for the cause of global financial crisis. According to Rachel Tesfahun in “Student Voice: Thanking the Poor Economy”, “I used to be a “consumption whore.” I automatically pulled out my trusty, handy credit card for everything, from a latte at Starbucks to a sale at Macy’s”(p.147). We as consumers have the responsibility to keep track of what we are earning and to what extent can we afford the things we want. Economically, we should not be using credit card if we don’t have the ability to control over desire. Using a credit card and spending money are easy but when it comes to pay back is it going to be just as easy? Consumers are spending money recklessly, which only leads to more debt. We need to realize it’s not a good habit to buy things without thinking of the consequences. In this case, it leads us to finical crisis.
In conclusion, government, finical institutions and us consumers are all responsible for causing the global finical crisis. In order to avoid a further crisis, the government, and finical institutions and corporations needs to work together and establish a monitoring system.
Regulations will help in preventing the same causes. And of course, us as consumers have to be more aware of how to manage money and not spending money recklessly just because the bank offers.
Work Cited
Johnson, June. Global Issues, Local Arguments: Readings for Writing. Second ed. Boston: Longman, 2010. Print.
21, March. "Who's to Blame for the Financial Crisis? - Newsweek." Newsweek - National News, World News, Business, Health, Technology, Entertainment, and More - Newsweek. Web. 02 May 2011. .
Why blame the government? According to Niall Ferguson, a Harvard and Oxford historian and the author of The Ascent of Money: A Financial History of the World in article “Who’s To blame: Washington or Wall Street”, he says, “My third prime suspect is the congress that wholly failed to supervise Fannie Mae and Freddie Mac, which on the eve of their destruction were leveraged 65 to 1.” It is important that the government realize they need to do a better job monitoring the big corporation and financial institutions. In order to prevent the same disaster, regulations and rules need to be applied. Also, creating a new monitor system is important to ensure big corporations are making the right decision.
On the other hand, banks also play an important role in the global financial crisis. In article “Trading Financial Risk and Job”, it states, “Banks and lending institutions such as
countrywide, Washington Mutual, Fannie Mae, and Freddie Mac adopted the idea of giving sub prime mortgages to people who had no down payments, poor credit, or inadequate regular income”(p.140). Because of the easy loans from banks, people are going over their limits and buying things they can’t afford such as houses and cars. It became a “popular” choice for many Americans to get bank loans when they have the desire of owning something they want, since it’s the easiest and quickest way to get what they want. The bankers show nothing but greed for money. They do not care about anything other than whether they are making profits or not. The bank needs to be monitored by the government and set new regulations. Giving loans to those who can’t afford them and who have bad credit is not going to make their life better. It will negatively affect others all around the world.
In addition, we us consumers are also responsible for the cause of global financial crisis. According to Rachel Tesfahun in “Student Voice: Thanking the Poor Economy”, “I used to be a “consumption whore.” I automatically pulled out my trusty, handy credit card for everything, from a latte at Starbucks to a sale at Macy’s”(p.147). We as consumers have the responsibility to keep track of what we are earning and to what extent can we afford the things we want. Economically, we should not be using credit card if we don’t have the ability to control over desire. Using a credit card and spending money are easy but when it comes to pay back is it going to be just as easy? Consumers are spending money recklessly, which only leads to more debt. We need to realize it’s not a good habit to buy things without thinking of the consequences. In this case, it leads us to finical crisis.
In conclusion, government, finical institutions and us consumers are all responsible for causing the global finical crisis. In order to avoid a further crisis, the government, and finical institutions and corporations needs to work together and establish a monitoring system.
Regulations will help in preventing the same causes. And of course, us as consumers have to be more aware of how to manage money and not spending money recklessly just because the bank offers.
Work Cited
Johnson, June. Global Issues, Local Arguments: Readings for Writing. Second ed. Boston: Longman, 2010. Print.
21, March. "Who's to Blame for the Financial Crisis? - Newsweek." Newsweek - National News, World News, Business, Health, Technology, Entertainment, and More - Newsweek. Web. 02 May 2011. .
Reality
After getting to know about the facts behind free trade and global finical crises, I am aware off what I have to face after I get out of college. To be honest, I’m not looking forward to it, since the past couple of years I have seen many graduated student looking for jobs and a lot of them fail to do so. Especially now we are in a recession and it’s going to take time to recover, it’s very frustrated to think about how competitive it is to get hired and have a steady job. It is hard to imagine what people are going through to earn a spot in any corporation. Many corporations are asking for experience and high-level skills which automatically eliminate many graduated students without working experiences. I think after the break down of subprime mortgage people are more aware of how to mange their money and no one should spent money they haven’t earn yet, because ultimately it will only hurt and affect your life.
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