Mo' Money, Mo' Greed & Corruption
The American dream: a spouse, a few children, a lucrative job, a nice home, and of course, some material luxuries. Those who are able to realize this goal have my respect and they should be proud of their accomplishments. However, my beef arises with the very few Americans who greatly surpass this dream. Yes, I mean the multi-millionaires and billionaires of America.
The wealthiest one percent of our nation owns half the financial assets and 38 percent of the total wealth. They have more money than the bottom 90 percent combined. The next richest nine percent also have more money than the bottom 90 percent combined. These people are so filthy rich they can literally burn hundred dollar bills and
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If you follow financial news, then the name Tyco should also ring a bell. Tyco International’s two top executives have been accused of looting $600 million from the company's accounts. The CEO, Dennis Kozlowski, squandered much of this money on excessive luxuries, like a $6,000 shower curtain for his penthouse apartment. He also spent $2 million of Tyco's money on his wife's fortieth birthday party. The party was on the Mediterranean island of Sardinia and featured fireworks, ice sculptures, flaming messages in the sky, a private Jimmy Buffet concert, and many other extravagances. Kozlowski is currently on trial in New York. The list of companies involved in this sort of corporate fraud is long, and includes MCI/WorldCom, HealthSouth, and several other Fortune 500 firms.
The financial services industry people who work with these corrupt companies are also far from innocent. In April of this year, the Securities and Exchange Commission (SEC) fined ten top Wall Street firms a total of $1.4 billion because of improper analyst research activities. Analysts are highly paid researchers who focus specifically in one industry, or even on one company, and give recommendations on whether to buy, sell, or hold a certain financial security. The SEC found that over the last five years or so, many analysts were unfairly rating companies based on their bank's relationship with that company. For instance, if Microsoft did a lot of investment banking business with Goldman
The American dream is large in the minds of the American public, and indeed, of people around the world. It has taken on somewhat of a life of its own, and its clear, powerful call has brought people from around the world to the shores of the United States for more than a century, each of them hoping to capture a little bit of the American dream for themselves. While some have (there are famous immigrants in history who have come to America with nothing and created ridiculously successful financial empires that even continue today), most have found that the proverbial American dream is far more myth than reality (Bambara
The “American Dream” is overrated. Let’s just face it, it is dead. Not only is this a dream that is almost lusted after by many Americans, this is a widely desired illusion that is far out of reach for most working class people. The American Dream is more than the lifestyle of white picket fences that hold backyard barbecues with your neighbors. It’s earning a living wage that creates a comfortable quality of life, having the security of retirement, and giving your children the opportunity to live a successful life.
According to Alternet.org, “The wealthiest 85 people on the planet have more money that the poorest 3.5 billion people combined. The super rich .01% of America, such as Jamie Dimon (CEO of JP Morgan) take home a whopping 6% of the national income, earning around $23 million a year. Compare that to the average
Traditionally, the term “American Dream” applied primarily to immigrants who came seeking a level of opportunity they wouldn't have had in their countries of origin. The promise of America was that, even if one came from very little means, if one worked hard and applied themselves, they could secure a standard of living for themselves and their family that they would never have been able to had they stayed where they were. That promise imbued those immigrants with the "dream" of raising their status in America. The ability to become "rich" (by US standards) is certainly part
When the phrase “American Dream” is uttered, it is typically associated with having money or striving to have money. The dream of much of the public is to have money and to be able to purchase anything they desire whenever they want. For some, this dream is not about money, but it is about having the opportunity to better his or herself and his or her loved ones. In either case, there are certain circumstances and obstacles that make this dream increasingly difficult to attain. Some would even be willing to argue, the American dream is unattainable. “American Dream” is defined as the concept of every citizen of the United States having an equal opportunity to achieve success and happiness through hard work, sacrifices, and risk-taking (Fontinelle);
First, The American Dream is not something that you are handed it is something you work for. Some people are born into wealthy families and they do not need to work for success. Jay Gatsby was snidely profiled and they said, "I thought you inherited your money." (Ch 5) People assumed that because of his wealth he was privileged. They were wrong, Gatsby worked for his money even though he may of not always had the best
The American Dream is one of those terms that people refer to when talking about immigration, financial status, and so much more. But what does the term really refer to? People used to think of the American Dream as financial prosperity, religious and financial freedom, and all around success. Now, the term may mean something similar, but people are much less focused on it. If anything, the American Dream today is focused on gaining material goods and proving your bank account is larger than your neighbors. With today’s economy, laws and regulations, immigration customs, and overall attitude towards work, people are seldom focused on achieving the American Dream.
Among many Americans, a common misconception exists. This misconception is the belief that all Americans can achieve anything, no matter where they started from. This belief can be considered the American Dream. I have personally perceived that the American Dream is a malleable belief that changes with every person who wields it. For some, it might be living the high life at the end of Wall Street, finally receiving the job as a lawyer they always wanted, or lounging on a front porch of a country barn, watching the sun slowly creep over the horizon. In reality, only those fortunate enough to be born in a wealthy family with no ethnic oppression can really achieve the American Dream.
The American dream, for most people, is exactly that – A dream. It’s make believe, fiction. It’s what we think American should be like, not what it actually is. The American dream will always be out of reach for common people. The majority of people I interviewed said something along the lines of, “the American dream is to be given a chance to do something or be something you want to be.” This opinion seems to be too optimistic. Everyone wants more than what they have. It’s not enough to be given the chance, you have to succeed. What it takes to succeed is an entirely different aspect of the American dream.
Wealth in america is only reserved for the top 1%. Even out of those who live in the
Generally speaking, the American Dream is mostly achieved by people of the higher class, the people who reside in the “East Egg”. It is a lot easier for high classed people to achieve the
The American Dream is a fantasy that has not come true for the millions that are toiling in the system hoping to get a piece of the wealth which America so liberally shares with its rich upper class. Mansions, expensive cars, a happy family and of course lots of money. These images adorn the minds of the less privileged of this nation.
The United States is can be considered as a rich country. It is rich in culture, it is rich in individualism, it is rich in productivity, and it is rich in inequality. The “top 1%” is often spoken about in the media and in referred to in the daily lives of Americans. The 1% are usually executives, politicians, doctors, and lawyers. Their average income is about $717,000
To many people across the globe, the United States of America appears to be a place where one can be proud of. America the land where dreams come true and there is always a chance for any person to succeed. People who are not from the United States have been painted a beautiful picture of what life in our country is like. Not only do they think that there is a special place in America for them and the perfect career for each individual, but unfortunately this is not always true. The American dream is not necessarily to get rich quick, it is more along the lines of a hard worker having an opportunity to be financially stable and to live a pleasant life. The dream is that their sons and daughters will not have to suffer the same things that
The American Dream, in a sense, is fundamentally the most important ideal when observing the history and growth of this country. The American Dream can be defined by “Dictionary.com1” as “a life of personal happiness and material comfort as traditionally sought by individuals in the U.S.” As discussed in class, the stereotypical “American Dream” can be traced back to the 1920’s; A time where an average American would be exposed to opportunities of astronomical proportions, and be offered a chance to rise to a position of personal economic wealth. But clearly with a large majority of the population in such disbelief and turmoil it poses the question, is it still in the people's best interest to keep a principle alive that itself is being put