BOA

Bank of America have received $45 billion from TARP.  Today Bank of American holds revenue of 134.194 billion. Bank of America was involved in subprime mortgage lending, they were reports on many approved loan without proper documents and no credit checks. House mortgage plays a major roll in relations to the financial crisis. Bank of America were giving out loans to people that could not afford to buy a house when they know based on their credit history but the bank still gives out the loan to them which most of them soon realize they could not repay the loan. In result of that ,the bank was force to take the house they purchased and put them up for auctions in that case the bank are going to lose a great deal of money.

Affects on US workers

Sweatshop labor have lead to many unemployment in US, it’s something that we can’t avoid because corporations are meant to make profits which in result of that are closing down factories in US and shift their factories and job positions to overseas because of the low wage labor. So said the quality of the product made overseas aren’t as good as the product they produce in US , that might be true years ago but since the technology improved so much through out the years. Today many of the products that are made oversea such as China, Indonesia ….. They are producing good quality products, such as apple they used to make their iPods in Japan, since Japan is very well known for their advancement in electronic devices but eventually now all the iPod are make in China. Why? Because they are able to offer lower coast, cheaper labor and produce the same quality of products.  I don’t think trying to purchase more US goods as US consumers is going to help, especially the products they made in US are much more expensive than the products that are made in sweatshops but they don’t have any big difference on quality. People are always trying to save money today on products and cheaper products with decent quality are going to be favored by most of the consumers and that’s natural.

Sweat Shop

From all the readings about free trade, globalizations have make me wonder the issues of sweatshop. I have always check where the stuff I buy came from because sometimes I based on where the item is made to ensure if the price is fair and quality. But I never toke time to think who are the people that is making the products and what kind of working conditions and environment they are living in. When I read the article and the information are surprising. The laborers are working in harsh conditions and they are not being treated with respect. Personally, I will not change my consumer habits because of the sweatshop because in reality they produce the goods with a cheaper price for me to buy and there is no reason to buy something more expensive. Yes, the sweatshops are not treating the worker in the right way but they are providing them with jobs, as it states in many articles it is a natural stage of globalizations. Because of the sweatshop it opens up many opportunities for people to provide for their family, if there weren’t any sweatshop many will end up starving to death. Not buying the products that are from sweatshop is not going to help to solve the problems.

Hi Everyone!

Hi everyone! My name is Anthony, I haven't decide what major I want to go for yet.This semester I want to learn how to write better such as organizing arguments and making strong statement. English is my second language so I have a lot to learn.

For the consumer worksheet part 2, I found out the people who made my belongings are living in harsh  condition. They do not have enough safety equipments for them to protect themselves from the machines that they work with day and night, and some might even be child that are making my belongings. The belonging I had with me was mainly made in China , Spain , Indonesia and France. The companies are making a ridiculous amount of money out of each item the laborers are making. But the laborers are not getting a good working condition or any rewards. They are being underpay by these successful companies. This is based on shoes factory in China , the laborers work 12 hours a day , they work every single day besides Sunday and they make around 120 to 180 so converting this to American dollar it would be around a dollar a day. Which is unbelievable, it is impossible for them to live a comfortable life with that kind of pay, especially everything is getting more expensive but the pay for the laborers stays the same.