The Giant Pool of Money Essay Example

The Giant Pool of Money Paper Social proof and the confirmation trap were evident in the actions of many or all of the various players involved in the supreme mortgage crises (or credit crises) of 2008. From the NP News radio program The Giant Pool of Money, the characters on the different rungs of the supreme mortgage value chain explain their actions, showing these two characteristics. Social proof is a behavior by which we determine correctness of opinions, beliefs, or actions by comparing them to others opinions, beliefs or actions. Social proof can promote conformity either by providing information and validation or by creating social pressure to go along. As we saw in class in reviewing the Cash Experiment with the three bars or the Malaria Experiment with the electric shocks, authority plays an important role in strengthening social proof. In the case, we see that Mike Garner of Silver State mortgages had his own suspicions that they were selling bad mortgages, but since the big banks on Wall Street were buying them, he figured it was K. A lot of the brokers and mortgage pool originators on the ground seemed to believe there was something that the big guys on Wall Street knew that they didnt. In the class lecture on social proof, it was stated that social proof can be a particularly throng force in cases of ambiguity and uncertainty, like when it is unclear as to what a correct response is. We also discussed in lecture how social proof can occur in little steps, like in the military with the ABA Gharry example. We will write a custom essay sample on The Giant Pool of Money specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Giant Pool of Money specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Giant Pool of Money specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Soldiers spoke of a sliding scale of abuses that gained acceptance before eventually more extreme cases were uncovered at the Iraqi prison. The same thing happened with the types of loans sold first stated income verified asset was accepted, then not before long, state income stated asset with money in the bank, then the same with only an accountant statement, and non no income verified asset and Minas were all taken. To correct for social proof in this industry, regulations must be strengthened. Dodd/Frank legislation is a start of this, but though some of the reforms in Dodd/Frank should be welcomed, the law doesnt address the complexity issue which is what caused many unsuspecting borrowers to find themselves underwater after not reading the fine print of what they were signing up for. The following reforms would mitigate social proof further: 1) ownership should be clear, so the borrower knows who owns his or her debt, 2) collateralized debt obligations should only be able to be sold by brokers who are educated on their risks by a government agency, 3) Minas and other non-verified mortgages should be outlawed and 4) Banks and mortgage originators should invest in shorting mortgage backed securities so there is some skin in the game for the financial institutions to not only grow fast, but loan smart money and benefit if others make risky decisions. The confirmation trap (or confirmation bias) is the second behavior that emerged from the potash. The confirmation trap refers to the tendency for people to naturally seek information that confirms their expectations and hypothesis, even when discomforting or falsifying information is more useful. In the Carter Racing case, this was shown in how the chief mechanic showed that engine failures occurred at all different temperatures, but omitted that all the successes happened when temperatures were higher than 70 degrees. In the case of The Giant Pool of Money, the financial world seemed content to ignore the warning signs that these pools of loans were, as one put it, toxic waste. Rather, everyone up and down the value chain seemed content to seek out information that would confirm their biases and continue making them money. One piece of data (which turned out to be faulty) was their reliance on the credit rating agencies, which rated these pools of NINA loans as AAA, or as good as a truancy of solidly vetted mortgages. Another piece of confirmation bias data was how Wall Street kept pointing to rising housing prices as evidence that this bubble would never burst, since poor borrowers could always take out a home equity line on their house powered by the revenue stream of the rising prices. They also justified their behavior by the fact that even if the homes foreclosed, they would remain valuable, due to the rising prices. These are all confirmation biases. Mike Garner said that when his boss raised Objections to the shady loans, he was rebuffed by others justifying the loans as an attempt to gain more market share. The best way to fix the confirmation bias in this case would have been for the ratings agencies to offer more accurate data. Unfortunately, many of those working at ratings agencies would go on to work on Wall Street or vice versa, making their vested interest in shutting down a lucrative practice on Wall Street little to none. Government regulation is needed in order to ensure the ratings agencies remain independent and accountable to everyday citizens. Another solution to the confirmation bias in the world of finance is through education. If financial education was made a bigger priority in schools, borrowers like Richard in Brooklyn might have known to ask better questions before taking an explosively bad loan on his East Flatfish house. When the information flow is coming from people with a vested interest in your investment decisions, confirmation bias will only flourish. Education can present both sides to the consumer and combat the use of confirmation bias.

Golden Gate College Essay - Tips For Writing an Essay

Golden Gate College Essay - Tips For Writing an EssayYou don't need to be a first-year student in Golden Gate College to get the essay. You just need to have an idea of how to write an essay.If you want to write an essay, you can use a guide that will show you how to write an essay. This is the same guide that you will get if you're looking for a college essay. The only difference is that it's aimed for people who are entering the senior year of college.As you read through the guide, you'll see that Golden Gate College provides their own style guide. For example, some sentences are left unformatted. The guide also shows you how to format your essay, which is important for the written word.However, the best part of this guide comes from the author of Golden Gate College, Ariel Moshe Friedman. Friedman's experiences as a college student will be valuable information to you. You can take these experiences and use them to write your own essay.When writing your essay, you will learn all ab out how to get students' attention in the first paragraph. It will help you include the right words in the right places. These are things that you can include to make your essay easier to read.You will also learn about the importance of making your essay about something. You should think about what you would like your essay to be about before you begin writing it. This will allow you to write an essay that readers will find interesting and enjoyable.Another thing that you can learn from the Golden Gate College guide is how to prepare. You should know where to find all of your equipment, as well as where to go for help when you need it. For example, if you get stuck, you should ask a teacher or other staff member for help.Golden Gate College also offers tips for reading and rewriting your essay. After reading the guide, you will understand that the essay has to be great to get a good grade. When you are ready to start writing your essay, you can find out how to write one today.

Essay Examples And Techniques For Building On Master Nyu

Essay Examples And Techniques For Building On Master NyuThere is no way to have a good conversation with an internet marketing expert who used to be a college student, especially when the college students end up creating a poor example for the beginners. A surefire way to turn off your acquaintances with online marketing and entrepreneurship is to ensure that your examples are well constructed and accurate. Your article examples should provide people with information they can actually use on their website.Master Nyu names are the best for the purpose of providing an interesting and informative point in order to show why your subject matter has to be dealt with. It's an excellent way to encourage people to take note of your subject in order to prevent them from making a fatal mistake. This article is not saying that Master Nyu is the best example of how to do business on the internet. There are many different examples you can use.The best way to do is to make your essay example memora ble and easy to digest. While you're drafting your essay, you should draw on the expertise of a master writer to add the appropriate sense of style and enhance the quality of your essay. If you can't find one, ask someone you know to read through your example and give you her opinion.You don't have to use someone you know and trust as a reliable source to work with. Just remember that you should never use a name of a popular internet or college student as an example. A better way to go is to obtain one yourself.It's always good to be able to copy and paste your own examples and make them look a lot like the originals. While the original essay by Master Nyu won't be completely perfect, it should be a good basis to start from. A sentence or two will be fine but should take out all the grammatical mistakes.One thing that you should avoid when writing articles for article directories is incorporating grammar mistakes. These errors will leave your article out of the search engines and dr ive you out of the picture. Grammar is a must with these types of articles, as it is with any other type of writing. Not only do people look for content, but they also want good writing and a great read.Many people who write about a specific area will write about it in the same way each time. This repetition is quite easy to accomplish but some writers just can't get it right. The best way to overcome this issue is to be objective and write the articles in a way that does not place a lot of emphasis on a specific area. Start with an overview of the topic and move on to the details once you understand the rules of the game.One more trick for writing articles is to never talk about yourself as if you were a celebrity. People love to read about themselves and the better way to convey that is to let them know that you're interested in what they have to say. It's much better to get your message across by pointing it out than to say something like 'I've got it all under control.'

Essay Writing Assistance for Hyperhidrosis

Essay Writing Assistance for HyperhidrosisIn order to avoid a lot of embarrassment and rejections in the writing field, it is important that you come up with a proper essay for hyperhidrosis. This condition is very debilitating and embarrassing. Most people tend to hide their condition and get embarrassed. However, getting help can take away some of the embarrassment and defeat your friends and classmates.If you are worried about the fact that you have this disorder, or have any relatives who suffer from the same, this might be an opportunity to talk to them about the medical problems and to let them know that you are willing to work on solving the problem. The other advantage of discussing this condition with other people is that you will find out if there is anything wrong in your treatment. People who are really interested in studying are usually good at taking the first step towards solving a problem.Online universities may also offer essay writing assistance services and tutorin g services. If you are already accepted at a particular university, ask the admissions officer about what their requirements are in case you want to study for this degree. Also, they will know the type of essay writing assistance that the admissions officers use.Once you have done your research, start with the essay topic. Make sure that you have clear ideas about the topic. You should be able to describe yourself and the topic that you will write about. Some colleges require an 'I' section and some do not.Before submitting your essay, think about the tone of your essay. You should write in a way that your essay will be persuasive and convincing. In addition, you should have correct grammar and spelling. The essay should not be filled with jargon or technical terms.If you will be having physical exams, be sure to present your best physical condition. In addition, the essay should be well-organized and well-thought out. It is also important that the essay is not too long as there are some words that might be missed.Make sure that you do your homework on the topic and prepare for the essay writing session. You can go online and check the many essays that have been written on the topic by other students who have written on the topic before.