RRJ3

Reference:

THE NEW YORK TIMES. (2010, July 12). Credit Crisis-The Essentials. Overview, Retrieved on sep 29, 2010. Form

http://topics.nytimes.com/top/reference/timestopics/subjects/c/credit_crisis/index.html?ref=economy

Summary:
According to the article, in 2008, the amplified credit problem become the biggest economic problem on Wall Street since the Great Recession. There was a loss of hundreds of billions in exploitations in Foreclosures. Since that times Congress has approved the saving plan by dividing the 700 billion dollars in October 2008. But when the disaster was avoided and the problem throughout the world, banks in Europe had lower demand and job cuts and the world started falling into recession. In 2009 the Democrats in Congress confess 787 billion dollars to motivate the economy; China also pledged to motivate the economy with 500 billion dollars, and central banks around the world helped to reduce interest rates to approximately 0%. In the summer of 2009. The economic problem had divided Europe, particularly because Germany
refused to help solve the problem of some countries bordering the Mediterranean Sea, where they suffer from the problem of major credit. Moreover, they are unable to lower the value of their currencies. Then they pledged to the International Fund to provide approximately one trillion dollars. On the other side, America was focused on the deficit problem in the States and solve the problem of unemployment, making the Republicans opposed in the Senate, where it caught fire and stubbornness led to high unemployment.

Reaction:
In my opinion, the economic problem involved and affected major economies, such as some European countries and the United States and some East Asian countries such as China and Japan. They need a long time to find solutions to end the economic problem . Some of these countries could fix the problem, because they have strong economies also the logical population helped them, compared to other countries such as China, especially European countries. But still employment is going up in most of these countries. the number of universities are is less than the required comparing to the numbers of the students; furthermore the people do not have high degree.

RRJ-2

Reference:
Chan,S. and Dash,E. (2010, September 2). U.S. financial crisis panel struggles as final hearings near; Loss of senior members and conflict-of-interest concerns add to woes, retrieved from Lxis Nexis on Aug. 30,2010.
http://www.lexisnexis.com/hottopics/lnacademic/?


Summary:
In the article, the US Congress set up a group to research the reasons for the economic problem. But in an other way, this group has a problem which is that it is a split unit, caused by resigntion of important staff. And the group cannot be successful because of external interference by the Federal Reserve.

Reaction:
In my opinion, if some groups were successful in some tasks like the group in the big recession in 1932, that doesn't necessarily mean all groups can be successful. It be could be that, but sometimes external interference carses problems. Also, how to deal with this problem is just one if many tasks for the central bank. I inference, the group cannot do well, and it has internal struggles; in particular the number of the group is decreasing; they were 14 and became 5 members. And who has a decision appears to be important? after they quit?

RRJ 1

Reference:
Rahmani, Jawad. (2010, August29), The economic recession still continues. (Ecomomic Article), From Daily Outlook Afghanistan. From lexisNexis.

Summary:
In the artical, the author talks about the many workers who lost their jobs. And he talks about the contrast between the countries in the world especially Europe countries and the US. what they want to do theirability to get out of the problem. He talks about how the people share in solving the problem through their roles as burghers, and also the effect of the USA and how it plays a big part in the world.

Reaction:
I think this problem is that it continued to lead to bigger problems, including homelessness and poverty. I agree with the writer about some solutions. My question is whether it is the error of the government or insurance companies or the banks or from individuals? in my opinion, everyone bears part of the problem, and it is specific to individuals, for they carried themselves greater things than they could afford. In a way that is excessive use of credit cards and loans without considering the consequences.