401(K) has become ineffective because of the corruption of big business, the misunderstanding of and as a result a mishandling of the 401(K) accounts, and its correlating dependency on the market’s success. Making profit is important to people. Most of all, improving the bottom line is the primary objective for major companies. “For Robert Shively, learned that his employer, Occidental Petroleum Corporation, or also-known-as Oxy Pete,” wanted to forgo the guaranteed-employer pension plans for the less demanding 401(K) system where it is based on contributions from employee’s pay rather than from the employer’s profit. This forces the employee to save without any effort but, due to this, workers began to neglect the social security and entirely dropped the use of the original pension plan.
He differed from the average fraud perpetrator in that he admitted what he had done and promised to pay back the money he had stolen. The more he did it, the more it became an addiction. These characteristics made it difficult to detect him because everyone he worked for and with trusted and liked him. Although they didn’t like him for what he had but
Henry Paulson is just a man. A man that was appointed as Treasury Secretary under the Bush administration at a time in The United States recent history that will forever be known as The Great Recession. Henry Paulson was able to achieve two extraordinary things with Congress, the conservatorship of Fannie Mae & Freddie Mac and the Troubled Asset Relief Program (Tarp). These plans of action to help the failing economy by Henry Paulson were not considered lightly, he genuinely tried to come up with solutions with American’s economy as a priority. Henry Paulson was brought up by a father who taught him the value of work and the rewards of a job well done.
If the customer does have bad credit then it’s up to you to take the chance and offer your services. It is sometimes not so good to turn down customers due to a bad credit report because it can cause you a chance to blow a great business deal. But also Keep in mind that if they already have a problem with paying bills and if you choose to still do business with them you can set up a payment arrangement to have the bill automatically drafted out of the account every pay period. This way the payment is never late. This is sometimes the best route to go rather you are bad with paying bills or not.
Recession- The recession is an opposite of boom stage. The unemployment increase, most of firms are losing confidence and stops invest or expand. They may change their planning and started to survive. The customers are likely to save money then spend and the percentages of loans are high and may increase. Individuals are losing jobs and the government have to spend more money of benefits.
For example, Lewis’ experience with the patients, changes him and teaches him more about life than his entire university education. At the beginning, Lewis is only interested in earning some money and is worried about what may occur if ‘someone [forgot] to take their medication’. Rather than making decisions, he tends to try to please other people by agreeing to whatever they want him to do. Even his political beliefs appear to simply be based on those of Nick and Lucy. However as he works with the patients, he develops a new perspective and insight into certain matters and himself.
The severity of Ponzi scheme reflects the severity of the punishment. I noticed in the article made mention of some of the dollar amounts of his families assets. I feel that the forced liquidation of these assets is a strong step in allowing these victims to recover some of their losses. I think it is quite comical that Ruth Madoff claimed that $80 million dollars of the forfeiture was her assets. What was her profession?
The article goes on to say that these takeovers might be on there to being a thing of the past because in recent years the number of take overs has gone way down. This may be do to laws that protect companies because they are so important to some states. But really the decline is do to companies not be so interested anymore and trying to focus more on their own. Business. The decline has cause many smaller companies to push their company less and not worry of about effectiveness and stock prices because there is less push from takeovers.
Consumers bought their goods when, in theory, they did not have the money to do so. Because they did not have enough money to pay, they would “buy now, pay later.” It is inevitable that consumers would lower their purchasing after this (Document H). Once the people do not have the money to keep their purchasing habits, they will ruin the whole economy. Another way the people ruined the economic system, was by buying on a margin. The people thought that they were living great, because their stocks were doing so well.
Some say “money can not buy happiness.” Well someone with a decent amount of money that they worked for sure is happy. Knowing that what they did made them money and they can now do they things they want and buy the things they want. In conclusion, The American Dream is still available to anyone out there. As long as you have strong work ethic and are willing to work hard at making as much money as you can and doing the best at everything you do they it can be achieved. America still provides access to the american dream to the “tired, poor, and the huddled masses.” Be smart with your money and have some determination and the American Dream will be your American