Subprime Meltdown

Essay specific features

 

Issue:

Social Issues

 

Written by:

George K

 

Date added:

September 8, 2012

 

Level:

University

 

Grade:

A

 

No of pages / words:

10 / 2709

 

Was viewed:

7018 times

 

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Essay content:

Ms. Mahak Jain, First Year, MBA, Institute of Management Studies, Indore 2. Ms. Ruhi Agrawal, First Year, MBA, Institute of Management Studies, Indore 3. Mrs. Neetika Khoda, First Year, MBA, Institute of Management Studies, Indore Neeraj Parashar Executive Summary Wealth without Work, Pleasure without Conscience, Knowledge without Character, Commerce (Business) without Morality (Ethics), Science without Humanity, Religion without Sacrifice, Politics without Principle are the seven deadly sins that are quoted by Gandhiji along with the popular principle of sacred means for sacred goals...
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In the story of subprime meltdown the shortcomings of US government, their materialistic society and the prevailing practices of industry got exposed. Subprime meltdown is not an overnight story of financial shock but a prevailing tendency of American culture of achieving more beyond their affordability; creation of wealth (subprime mortgaged backed loans) without work (passing of buck of CDOs); irrational investments and financial planning on the part of individuals and organizations; technology facilitated credit history of borrowers being ignored; are only the few manifestations of Gandhian thoughts...
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