The American Life (Essay Sample)

The American Life
Institution
The American Life
A look at the moment when the America was going through a financial crisis that almost destroyed all the financial stability of the country. A time when most of the big companies 7 most financially stable organization lost a lot of money due to the kind of business that they were undertaking. It only took five months for the Linen brothers to collapse and it was with the aid of the government that came to their rescue. Jim Finke had approximately five million dollars and in a span of five years lost thirty percent. The research shows that people saves up to seventy trillion in fixed income security. All that they do is to save for retirement, pension funds as well as saving for a disaster that may occur at any given time of their life.
To investment managers, all they do is to use the money that they have in their fixed account and they try to maximize the savings as much as possible. A time came when people were being given mortgages to buy houses and other loans. The banks used to look at the financial standards of the person so as to know whether one could be able to pay back the mortgage and this was done through consultation from the organization that one used to work at. The mortgages business needed them to buy mortgages from the brokers for them to sell. But competition in the market made them to try and have a similar or better mortgage plan so that they could...