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Exploitation Of Poorer People In Developing Countries
The argument is that poorer people in the developing countries are being exploited by organizations from developed countries. They alleged that these organizations pay fewer wage to these workers, and force them to work more hours. The officials that are leading these charges have not explored the original situation of these people in order to determine whether these people are better or worse off with these organizations prior to them entering the global market.
Bear Stearns and the New Federal ReserveOn March 14th, Bear Stearns, the fifth-largest investment bank in the United States, entered a period of insolvency. As growing lack of confidence in the firm’s subprime exposure grew, other banks eventually refused to lend to the stricken company, which has existed for over 85 years. Were Bear Stearns a commercial bank, (i.e. institutions that loan money to people or businesses) it would be able to, as a last resort, take advantage of the Federal Reserve’s so-called “discount window,” thus receiving a government loan at the lowest available interest rate.