CAISAM YVEZ NOPUETO
The Isotopes
Editorial Writing
September 23, 2008
United States of America economy falls off a fissure pit as its foundation, Wall Street crumbles. It seems as if no more pillars are left to prop up US’ dollars when meltdown pulverized Wall St.
Like a broken system, Wall Street hales nothing but labored breathing. Cash, its blood, no longer circulated. Infusions by central banks, like pulses that are suppose to keep it alive, no longer had an effect.
Linked to a financial crisis 13 months ago, the federal government seems to be the largest hedge fund on the planet. It’s because $200 billion was spent on two biggest mortgage companies, Fannie Mae and Freddie Mac, thus boosting the limit on the national debt by $800 billion to $10.6 trillion. The US government continues to sink in a sea of zeroes in debts, and the nationalization of the largest US in insurer American International Group, last Sept 14, adds up to the problem.
The next day is yet most shocking and disturbing. Sept 15 marks the most memorable day of Lehman Brothers, fourth largest investment bank, when it filed bankruptcy. Rather than face the same fate, John Thain was forced the century-old Merrill Lynch & Co., Lehman’s arch rival, to Bank of America Corporation.
Sept 17 panicked investors as equities investors withdrew massive amounts of investments and put them into traditional safe havens. Their money would rather be secure on others’ hands. Because of the loss of investors, funds and mortgages, the whole Wall Street inevitably crashed the next day.
US President George W. Bush plans to use $700 billion to rescue the failing country. This rescue plan is the largest since 1928’s Great Depression, and would give Washington broad powers to purchase bad mortgage-related assets from US financial institutions for the next two years.
The US government should speed up, because if there’s no action, the consequences will grow, grow far worse than we can imagine. It will grow further, far enough that aids and bailout plans won’t be able to reach it. And it will corrupt the country more, just enough to destroy the whole country.
A broken Washington. These financial troubles could really ripple throughout the economy and affect average citizens. People are beginning to doubt US system, and people are losing confidence. These are the most possible consequences of the meltdown.
Wake up. Stand firm and sturdy. Be impenetrable against more upcoming problems. And most of all, obtain speed. Fast enough to save the dying Uncle Sam.
this is my editorial article about US' financial crisis, and the meltdown of Wall Street. It's quite long. I'm really proud of myself, because I've came up with my title. This is also an article for our cliniquing session for the upcoming Division Secondary School's Press Conference.
The Isotopes
Editorial Writing
September 23, 2008
Dying Uncle Sam
United States of America economy falls off a fissure pit as its foundation, Wall Street crumbles. It seems as if no more pillars are left to prop up US’ dollars when meltdown pulverized Wall St.
Like a broken system, Wall Street hales nothing but labored breathing. Cash, its blood, no longer circulated. Infusions by central banks, like pulses that are suppose to keep it alive, no longer had an effect.
Linked to a financial crisis 13 months ago, the federal government seems to be the largest hedge fund on the planet. It’s because $200 billion was spent on two biggest mortgage companies, Fannie Mae and Freddie Mac, thus boosting the limit on the national debt by $800 billion to $10.6 trillion. The US government continues to sink in a sea of zeroes in debts, and the nationalization of the largest US in insurer American International Group, last Sept 14, adds up to the problem.
The next day is yet most shocking and disturbing. Sept 15 marks the most memorable day of Lehman Brothers, fourth largest investment bank, when it filed bankruptcy. Rather than face the same fate, John Thain was forced the century-old Merrill Lynch & Co., Lehman’s arch rival, to Bank of America Corporation.
Sept 17 panicked investors as equities investors withdrew massive amounts of investments and put them into traditional safe havens. Their money would rather be secure on others’ hands. Because of the loss of investors, funds and mortgages, the whole Wall Street inevitably crashed the next day.
US President George W. Bush plans to use $700 billion to rescue the failing country. This rescue plan is the largest since 1928’s Great Depression, and would give Washington broad powers to purchase bad mortgage-related assets from US financial institutions for the next two years.
The US government should speed up, because if there’s no action, the consequences will grow, grow far worse than we can imagine. It will grow further, far enough that aids and bailout plans won’t be able to reach it. And it will corrupt the country more, just enough to destroy the whole country.
A broken Washington. These financial troubles could really ripple throughout the economy and affect average citizens. People are beginning to doubt US system, and people are losing confidence. These are the most possible consequences of the meltdown.
Wake up. Stand firm and sturdy. Be impenetrable against more upcoming problems. And most of all, obtain speed. Fast enough to save the dying Uncle Sam.
this is my editorial article about US' financial crisis, and the meltdown of Wall Street. It's quite long. I'm really proud of myself, because I've came up with my title. This is also an article for our cliniquing session for the upcoming Division Secondary School's Press Conference.
1 comment:
"that are suppose to keep it alive"
-supposed
"It’s because $200 billion was spent on two biggest mortgage companies"
-take off the it's because. spell out 200.
"in a sea of zeroes in debts"
-maaaring tanggalin ang in debts.
"the largest US in insurer American International Group"
-i didn't quite get this. what happened to it? adds up to the problem of what?
VERY GOOD. consistent ka sa tenses mo.
spell out the month (september)
"Sept 17 panicked investors as equities investors withdrew massive amounts of investments and put them into traditional safe havens."
-i think this one sounds like a feature write up with the adjectives.
"will grow further, far enough"
-redundant na
"just enough to destroy the whole country."
-pwedeng tanggalin yung JUST
..nasabi ko na sayo yung iba kong comments :D
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