Current Event

Tyra Monger
11/6/08
Business Economics

Current Event

This week I read about the world, mostly Africa unanimously celebrating because Obama won the Presidential election. It was written by the associated press at the Chicago Sun Times. It was done on November 6, 2008. In the article it states that this election seals America’s reputation as a land of staggering opportunity. The Kenya president had a public holiday where Obama’s father had lived. Many countries said that they were shocked that the United States could come away from many centuries of racial strife. “I think this is awesome that the whole world is backing him,” Nidimu said as people raised their glasses of champagne to toast his success. Obama was born in Hawaii and was raised by his white mother. He barely knew his father at all. Liberian president Ellen Johnson-sirleaf, the first woman elected to head an African country, said that she did not expect to see a black American president in her lifetime.
I think we can a far way electing a black president, but he is pretty much whiter than us except his skin is a different color. His affiliation to Africa is a little scary though. He better not screw us over or everyone is going to be so mad. He better just be careful to who he connects with.

Current Event

Tyra Monger
10/31/08
Business Economics
Current Event
Week Ten

This week I read about the Investors losing faith in Citigroup. Analysts speculate that the nations’ fourth largest bank needs to make a deal or something in the near future. It was written by David Ellis. It was written on October 29, 2008 at 2:21 pm. The banks stocks have dropped about 15%. The Bank of Treasury gave Citigroup a loan of $25 Billion. The bank is at a 52 week low, and has never been this low for this long. Many banks have bought other stocks and benefits from other banks. Like Wells Fargo is planning on buying all of Wachovia’s banking operations.
I think that all of the banks are being a little either immature or I guess really dumb with their decisions in their markets. They are losing so much money. If you add up all of the loans that they have given to people that they knew were not going to pay them back, is probably over like billions of dollars!!! It’s totally retarded and dumb. So we need to think about our banks.