Journal Entry #4 The Financial Crisis and the Future of our Children

What about the future of our children?

The films that we viewed in class this week were truly an eye opener for me. We are all being affected by this economic recession , yet the average person has no idea how we got here to begin with. It is hard to believe that the start of the fall of our economy took place during the 1980's with the Reagan Administration, and even before that. We have seemed to carry on these bad seeds from one administration to the next. I cannot see how deregulation can possibly be a positive thing, the government basically allowed these companies to do whatever they wanted. They gave them too much freedom and they let things go way too far. I enjoyed watching To Big to Fail and I think this is a movie that every American should watch and can learn from. This gives us a behind the scenes perspective on what happened to our country's financial system and how it ultimately failed us. The documentary that we watched broke it down for us so we could understand how these corporations operated and how they acted illegally. It makes me wonder how Paulson could have been so shocked about the situation when he was involved with these acts during his time as CEO at Goldman Sachs. In my opinion it is hard to blame the general public for the economic recession. It is true that individuals did receive loans that they should not have been approved for. However, these people were basically misled. They thought if they were being approved then they must have the means to make the payments. The teaser rates were not explained properly and many people did not even know that these rates were adjustable or how much they would be going up. It is true that no one expected the housing market to fail, but honestly they should have seen it coming. We have the average person who is able to make his monthly mortgage payments because he does well and owns his own construction business, all of the sudden the recession hits and he losing his business. In turn that family no longer can make their monthly mortgage payment and the family has to foreclose on their home. These are the reasons I feel that we cannot blame this crisis on the American public. Certainly people took advantages of the massive credit options provided to them, but these corporations did not have any regulations in place and just gave out a loan to just about anyone. They invited this to happen. The question now is how to fix it, as it seems the loans are again being approved for low credit scores. I believe we need to have some regulations put in place I am worried about the future of our country and for the future of my son.

Journal Entry #3 Beginnings of Fort Myers

The first part of the History of Fort Myers was quite interesting. I am a History major, so I was very curious to hear of the beginnings of Fort Myers. I was born here in Florida and was raised in Sarasota and Englewood. I now live in Port Charlotte, but I have a close bond with Fort Myers. My son attends a private school off of McGregor and I of course attend Florida Gulf Coast University. I really enjoy the city and all that it has to offer. The first part of the film was quite interesting as it gave the involvement of Fort Myers starting with the Civil War and ultimately ending with World War II. I liked how the film mentioned the different backgrounds of people and their lives. The first school and movie theater were mentioned as well as the beginning of the Boy Scouts and their affect on the city. Thomas Edison and Henry Ford were mentioned as well, and this is quite interesting because I loved the Edison and Ford Estates when I was growing up. The film mentioned the bond between the citizens and their churches but they failed to mention any other religions besides Christianity. It would be interesting to know if there were any Synagogues at this time. I have a love for World War II history, and I remember discussing Paige Field and Buckingham Field in a prior history class. It is amazing how the city was transformed during the war.

Boating in Fort Myers

The second part of the film focused on the city of Fort Myers after WWII, this includes segregation in the sixties as well. The segregation issue seemed to me a bit disappointing as it is mentioned that Lee County was one of the last counties to integrate the races.  I think it is a great thing that the city council renovates and preserves the Edison Ford Estates and that people still come to visit and explore the grounds. My son has been to Imaginarium and he loved it, things like this really encourage and help children think about science and invention. Both Edison State College and Florida Gulf Coast University have great meaning to me. I graduated from Edison this past fall and the ceremony was held at Barbara B. Mann Performing Arts Hall. I like how the city has put a lot of focus on education for both children and adults; I remember attending a play in elementary school at Barbara B. Mann. The historical society at the previous train station was a wonderful idea and a great way for people to come and learn about the city and its growth. I know that Fort Myers has a lot of meaning to me and I hope that the city continues to grow and preserve its history.