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Celene Zavala John Kubler English 114A 12 November 2013 Argument Proposal and Annotated Bibliography Today in America one of the worst recessions in history is taking place. The governments national debt crisis is tremendous, which it is the biggest it has ever been. The cause of all of this started first in 2001 after the terrorist attack September 11th. The cause of this problem continued up until 2006 when it was too late to do anything. In 2006 Wall Street collapsed and every big known company was going under try to keep from going through bankruptcy. One of the main problems that led to so much debt started off with housing companies. Housing companies at the time were giving out loans like crazy. It didnt matter how much someone made, who they were, or even if they were trustworthy of paying it back, everyone got a loan. Wall Street led this to happen by buying out loans to sell just to make anymore type a money they wanted. The people at the top knew that everyone wanted the American Dream and not many people could afford it. So what was the best idea to do at the time? Take out housinh loans. Companies such as CountryWide and Quick Loan were one of the top loan lenders out there. For someone to get a loan all they would do would be to put the amount they made and not even check if it was valid or not. Of course the lenders would see that a teacher couldnt make 200,000 dollars a year but they would still act like they did and give the loan out. Wall streets greed at the time was very high due to giving out loans just because they knew they would buy loans and get money back. But when this continued that is when Wall Street and the US governments debt were at an all time high. So much corruption was happen in Wall Street that in 2006 every company fell and went into bankruptcy. The reason why the housing loan industry collapsed was because mortgage companies were giving out loans to anyone who wanted to buy a house no matter who they were or how much they made, loans were given out therefore causing our government to go into debt and plunge us into a recession.

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Sources House of Cards. Video.CNBC.com. CNBC LLC, NBC Universal, 4 Jun. 2009. Web. 10 November 2013. This documentary is on housing companies giving out loans and showing how after 2006 everything in the market went down hill. I can use this for my essay because it is evidence of how irresponsible lenders were when giving out loans to people who needed them to buy houses. Untouchables PBS.org. Frontline, WBGH Education Foundation, 24 Mar. 2009. Web. 10 November 2013. This document shows how people in wall street would ignore problems that led to the crisis. Also it explains how the house company CountryWide was giving out loans to anyone. This helps me with my paper because it is evidence that the debt was coming from housing companies. Chan, Sewell. "Financial Crisis Was Avoidable, Inquiry Finds." Editorial. The New York Times 26 Jan. 2011: A1. 25 Jan. 2011. Web. 10 Nov. 2013. This document gives ideas of how this problem could have been avoided and shows the wrong doing of Wall Street. This can help my paper to show what exactly the wrong doings of bankers and lenders were to prove that housing was what started the crisis. Graff, Gerald, and Cathy Birkenstein. They Say / I Say: The Moves That Matter in Academic Writing. New York: W.W. Norton &, 2010. Print. Explains the greed and corruption on Wall street with the loans. I can use this in my essay by pointing out what wall street wanted and that it was their fault for this recession. Money Power Wall Street Video.CNBC.com. CNBC LLC, NBC Universal, 4 Jun. 2009. Web. 10 November 2013. This video explains why money was so important on wall street and why they were greedy.

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Celene Zavala John Kubler English 114A 12 November 2013 Outline for Argument Essay 3 Thesis Statement: The reason why the housing loan industry collapsed was because mortgage companies were giving out loans to anyone who wanted to buy a house no matter who they were or how much they made, loans were given out therefore causing our government to go into debt and plunge us into a recession. Outline: Introduction: The background context, Big Idea(s), and specific thesis statement -Housing companies like CountryWide were giving out loans to anyone. -Loans just cause for debit for the government. -There were so much greed on wall street with big bankers and mortgage companies

Claim 1: Loans are given out to Anyone --Evidence source: House Of Cards MSNBC Quick Loans based on stated loans No type of training to work to close loans at Quick Loan Funding

Claim 2: CountryWide FUNDEM --Evidence source: Frontline Documentary Untouchables Claim 3: Greed on Wall street --Evidence source: Frontline Money Power Wall Street Claim 4: The crisis was Avoidable but was ignored --Evidence source: New York Times Financial Crisis was avoidable Claim 5: Predatory Lending --Evidence source: They Say/I Say

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Personal Connections & Experiences: --Event 1: My own familys loan troubles --Event 2: My Family friends experience

Naysayer Arguments addressed and defeated: --Counter claim 1 It helped with the American dream --Counter claim 2 It helped other stocks rise --Counter claim 3 Also helped World wide trades

Conclusion --Loans that can not be paid -Ignored by bankers and loan lenders of the crisis -The people on top wanted the money -Debt was rising because everyone in wall street was getting rich