I. Introduction
II. Background
III. Opposition’s point 1, refute, 1st support for thesis.
a. Credit Card Act of 2009
b. No Change at all, Banks still operating the same way
IV. Opposition’s point 2, refute, 2nd support for thesis.
a. Creation of TARP
b. $12.2 trillion dollars of tax dollars were spent wrong
c. TARP allowed many banks to allow credit again
d. A majority of banks have paid back TARP money
e. After TARP, Economy boosted
V. Opposition’s point 3, refute, 3rd support for thesis
a. Toxic assets cannot be removed easily
b. Government takes more cost, then expects
c. Economy will decline with removal of assets
VI. 4th support for thesis
a. Increased national debt
b. Politicians were forced to sign this bill
c. No solving of problems
“Let’s hope we are all wealthy and retired by this house of cards falters” (Bloomberg, 2007). The credit crisis is known as the “House of Cards”, for years the banking industry has transformed many American lives, which has resulted in a troublesome economy. Many factors led to the credit crisis, such as the rise and fall of the housing market, and inaccurate credit ratings helped to create the sub-prime mortgage crisis (Issues & Controversies, 2010). Low interest rates developed easy credit, in which people could get a mortgage and credit cards based on inaccurate credit ratings with the creation of sub-prime mortgages. People have the ability to own a home, with no down payment or fixed income. In August of 2007, the United States began a loss of confidence in securitized mortgages, which resulted in the Federal Reserve injecting $20 trillion dollars into the financial markets to ease the situation (“Obama Sends Warning to Big Banks, 2010). The most important question to be answered in the decade is “How a loss of $500 billion dollars from the sub-prime mortgage resulted in a $20