Assignment for Thursday, November 5

Two of the following three topics will appear on Thursday's in-class essay on Griftopia. You will have to write about one of those topics. So, to cover your bases, prepare two of the following topics for Thursday's essay. (If you prepare only one, you are taking a dangerous risk because that one essay has only a 33% chance of being selected. If you prepare two essays, you will have guaranteed that one of those topics will be selected.) You will be able to use your book (you will have to use quotes), and you may use a prepared outline. You may also refer to useful evidence from The Flaw, but only in addition to, not instead of, evidence from Griftopia.

Keep in mind the tactics you will need to write a successful essay:

1. Answer the question. Answer the question. Answer the question. In the first paragraph of your essay, provide a clear response to the prompt. That response is essentially an argument. You might find it helpful to use the key terms of the prompt in your response. 
2. Stick to the topic. The topic is essentially your argument. Don't wander from your argument. Make sure each paragraph develops your argument. 
3. Provide evidence to support your points. Each paragraph should have a quote that supports the main idea of the paragraph. 
4. Before writing the essay, prepare an outline or some other format for planning and organizing the essay.
5. Manage your time. I will remind you of how much time is left, but you must be aware of how you use that time. 

Okay, now here are the topics you developed in class, molded and shaped and slightly recast.

Topic 1: Taibbi claims, "In the grifter world . . . government is a slavish lapdog that the financial companies that will be major players in this book use as a took for making money" (pp. 30). In a well-composed essay, discuss the significance and consequences of the federal government's role in American finance. You may find it useful to consider the appropriate relationship between financial corporations and the federal government.

Topic 2: Taibbi recognizes that many citizens entered bad loans knowing that they couldn't pay them back, but ultimately he blames financial corporations for making such loans available and for engaging in criminal behavior to propagate those loans. Write an essay in which you  assign responsibility to one or more parties for the 2008 financial collapse. You may find it helpful to consider the following questions as you develop your essay: Who do you think is to blame for the 2008 financial collapse? Are financial companies responsible for clearly informing their clients about their products (such as sub-prime mortgages), or are citizens responsible for informing themselves about their purchases from financial companies? Would anything change as a result of the public's knowledge of investment banking's inner workings?

Topic 3: In the late 1990s, in order to decrease federal regulation of the financial sector and promote financial growth, Alan Greenspan, the U.S. Congress, and President Bill Clinton allowed investment banks, commercial banks, and insurance companies to merge as financial service corporations. (See Taibbi, pp. 64-66). Write an essay that assesses whether the American economy has improved since that deregulation has taken effect. You may find it helpful to consider the following questions: Is the economy better now than it was before this deregulation took effect? Has a particular segment of the population benefited from this deregulation, or has the whole population benefited from it?

We didn't talk about this in class, but here's a fourth option. If you want to take it on, you can just prepare to write this one instead of preparing two of the above essays. If you have questions about it, don't hesitate to get in touch with me.

Topic X: Does the American financial system work? Use the information you've been exposed to in Griftopia and The Flaw to support your argument.