Assignment for 2011-11-14
Read the article story at: http://www.economist.com/node/17257787
with its own “-gate” suffix — In the USA there was a large scandal which lead to the resignation of president, due to the fact that the spark in the scandal was the break-in to the Watergate office complex in Washington DC it is now known as “Watergate scandal”.
repossession — An act of taking away somebody's property when the mortgage payments have not been made.
affidavit — A document that is signed under the oath that is similar to the one given in court before the testimony.
- How many people actually had to move out of their homes when they have made the payments?
- Did this scandal benefit the banks of the investors?
- Where does this article make a suggestion that the incorrect paperwork was done wrong on purpose?
- What is a “robo-signing” problem?
Write a two paragraph essay explaining your opinion about what has happened. It does not have to be an essay on economy, you can chose any aspect related to this story.