Reading Response 2

Can Jokes Bring Down Governments? states that comedy is one of the most potent weapons available to the public in today’s society. “Jokes are low budget. They are among the cheapest goods we all have access to; they don’t cost anything, and they work. They are austerity-proof. Jokes, like laughs, are contagious, even if their intention is deadly serious”. Today’s world runs on electronics, the web, and social media. It is where millennials choose to get their news, where everyone decides to share their opinions, and one of the most influential platforms that have divided generations today. I believe jokes have become a big part of society because they have become an art form of self-expression. Everyone can hide behind a screen, but once you share a meme, it has the potential to go viral and reach millions worldwide. Jokes have become a dominant weapon because the cost and social status just don’t matter.

I believe jokes have the ability to provide authority to those who hide behind a screen because it’s easier to take a stand anonymously than face to face. Jokes have changed the way we perceive politics they have the influence to change views and outcomes from the public when it comes to current issues. Robust subjects can seem simple and innocent, but the authenticity says otherwise. Since many jokes and political cartoons are written by “anonymous” it makes it hard to believe its credibility. The word anonymous has become “a geopolitical force of influence”, and not in a positive technique.

For example, this meme about Hillary Clinton it just separates our political parties even further which only divides our nation even more. Memes can be confident and funny and also sometimes make a big issue seem simple but at the same time memes can be disruptive and a false way of communication. Lately, a lot of memes, in my opinion, have been just plain disrespectful towards our president. All the jokes and stupidity that happens behind a screen isn’t helping anyone nowadays. I believe jokes cannot bring down a government, but people are acting without knowing the facts can cause a significant impact on any country.

History: What Caused it? / Secondary Research

Overall, we found that the widespread proliferation of subprime and predatory loans, failings of various forms of oversight and transparency, and a lack of individual responsibility all contributed to the creation of the housing bubble and the scale of the market crash.


Katy Koetting, Samantha Wells, Leah Bailey, Katie Morrin, Gaby Vinales


Secondary Research: Individual / Gaby Vinales

“What Caused The Financial Crisis?”

Henry Suttmeier, Richard. “What Caused The Financial Crisis?” Forbes, Forbes/Investing, 31 Jan. 2011,

– Pushing the Federal Funds Rate below 3% was probably the most significant cause of The Great Credit Crunch.
– Fed began to raise the funds’ rate at 25 basis points in each of the next seventeen meetings to 5.25% on June 29, 2006, which was the straw that broke the back of the Housing Bubble.
– There have been regulatory guidelines in place since the end of 2006 jointly established by the FDIC, Federal Reserve and the U.S. Treasury that have been ignored by these regulators.
– The $700 billion TARP did not accomplish what it intended to do and that is being “Troubled Asset Relieve Program” that removed toxic assets from the books of our nation’s banks.
– A healthy pipeline is 60% where the bank can continue to lend to the real estate community as current clients remain up-to-date on outstanding loans.
– There are 3938 FDIC-insured financial institutions with a Pipeline that’s 80% to 100% funded, that’s more than 50% of all community banks in the country.

In the article “What Caused the Financial Crisis?”, Richard Henry Suttmeir analyzes the culprits that caused the financial crisis in 2008 including the banks, the credit rating agencies and government regulators who overlooked warning.

“The Cause of the 2008 Financial Crisis”

F. Davis, James. “The Cause of the 2008 Financial Crisis” Accuracy in Media, Accuracy in Media, 14 Oct. 2008,

– Caused by a Democrat run government that forced a liberal policy initiated by President Clinton and reforms primarily blocked by Democrats.
– In 2005, John McCain submitted a Fannie Mae reform bill. Democrats blocked it in Committee from getting to the Senate floor for a vote.
– That means it could purchase and/or guarantee $97.50 in mortgages for every $2.50 it had in equity to cover possible bad debts.
– Also, the Clinton Justice Department threatened banks with lawsuits and fines ($10,000 per application) for redlining (discrimination) if they did not make these loans.
– Historically, defaults were less than one-third of that, i.e., from 0.25% to 2%.
– The facts are that approximately 6% of all mortgage loans in the United States are in default.

In the article “The Cause of the 2008 Financial Crisis”, James F. Davis examines the catastrophic events that lead to the financial crisis based on statistics and facts rather than our emotional biases.

“The Origins of the Financial Crisis”

Neil Baily, Martin. “The Origins of the Financial Crisis” Business and Public Policy, Brookings, Nov. 2008,

– A bubble formed in the housing markets as home prices across the country increased each year from the mid 1990s to 2006, moving out of line with fundamentals like household income.
– This tenuous situation shut down once panic hit in 2007, however, as sudden uncertainty over as- set prices caused lenders to abruptly refuse to roll- over their debts, and over-leveraged banks found themselves exposed to falling asset prices with very little capital.
– Respondents expected prices to increase in the future at 6 to 15 percent a year, depending on location.
– Between 1975 and 1995, real home prices went through two cyclical waves: rising after 1975, falling in the early 1980s, and then rising again before falling in the early 1990s.
– There was a huge expansion of mortgage lending over the next couple of years, and in 2003 nearly $4 trillion worth of loans were issued, but the share of prime mortgages remained steady at 85 percent as the volume of conformable mortgages soared.

Martin Neil Baily, Robert E. Litan, and Matthew S. Johnson conduct an analytical research that leads them to constructive recommendations on public policy issues affecting the business sector in the United States and around the world.