Category Archives: June 7 assignment

2008 Economic breakdown

Posted on June 6, 2010 by Malgorzata

Recent crisis begun in the USA early fall of 2008, but the first warning we got when Lehman Brothers declared bankruptcy. In the fall of 2008 most of big financial institution experienced huge financial problems. Many small banks bankrupted, but large institutions like Bank of America, or City Bank needed help in from of bailouts. All these problems were caused by too loose credit policy. Banks were giving credits very easily to people who weren’t able to pay them of.

I’m attaching a link to a website with several articles about crisis where you can also find a short movie which in a interesting way illustrates the reasons of crisis.

http://www.globalissues.org/article/768/global-financial-crisis

Although it’s gotten a little better we still see people struggling with the consequences of the whole economic situation. I hope people take this lesson and we will never have to experience anything like this again.

Posted in 2001-present, Economic History, June 7 assignment, June 8 assignment | Tagged , | 2 Comments

First Woman Speaker of the House

Posted on June 6, 2010 by paverin

Speaker of the House Nancy Pelosi (D-CA) raises her hand and is sworn in as the first woman Speaker at a swearing in ceremony for the 110th Congress in the House Chamber of the U.S. Capitol January 4, 2007 in Washington, DC

This postion is recognized in the Constitution and stands in the line of succession to the presidency, immediately after the vice president.

Posted in 2001-present, June 7 assignment, Political history | Tagged , , | 1 Comment

Post 9/11 at the World trade Center

Posted on June 6, 2010 by Ndiaga

American flag standing high following September 11 attacks at ground zero.Where the twin towers used to stand ,which symbolized American economical hegemony. This image was showing the rest the World specifically its enemies that the stripes and the stars don’t run away.

Posted in June 7 assignment | Comments Off on Post 9/11 at the World trade Center

Introduction of Xbox

Posted on June 6, 2010 by Bhaskara

This here is the original Xbox introduced in November 15th, 2001.  It can be found under the numerous websites from fans of the system.

It marks an important day in American History, as it is the day that America became a major player in the video game industry in terms of consoles which was dominated by the Sony Playstation 2 and Nintento Gamecube.  In the following years, Microsoft introduced the Xbox360 which became a major competitor for Sony’s Playstation 3 and Nintedo’s Wii.  God Bless America.

Posted in 2001-present, Economic History, June 7 assignment | Tagged , , , | Comments Off on Introduction of Xbox

Subprime Mortage Crisis

Posted on June 6, 2010 by Sehyung

This image is from NYTimes.com

On April 2007, Subprime mortgage company went into bankruptcy with trillions dollars of consumer’s credit debt in mortgage program. It caused huge financial crisis of 2008 not only in U.S.A, as much as in global market.

This crisis brough the consecutive collapses of all kinds of financial companies such as banks, funds, insurance companies and other businesses. It affect high inflation of all goods, unstability of the price, high unemployment, and the decrease of productive capacity and a downfall of real estate market. The government economy also shrank up from financial damage and moreover, the entire world seemed to become a great depression as a whole.

Posted in 2001-present, Economic History, June 7 assignment | Tagged , , | Comments Off on Subprime Mortage Crisis

The March on Washington of 1963

Posted on June 6, 2010 by Bogdan

This picture was taken from this website.

The picture was taken in August 28, 1963, when Martin Luther King, Jr. had his legendary “I Have a Dream” speech at the huge political rally which took place in Washington DC. The March on Washington of 1963  is regarded as one of the most definitive moments in American history, which went on to shape the Civil Rights of the people of the United States of America.

Posted in 1960-1968, Cultural History, June 7 assignment, Political history, Social History | Tagged , , | 3 Comments

The end of Cold War – The Malta Summit 1989

Posted on June 6, 2010 by Yana

The Malta summit is considered as the official end of the Cold War (continuing state of political conflict, military tension). It consisted of a meeting between U.S. President George H. W. Bush and U.S.S.R. leader Mikhail Gorbachev, taking place between December 2nd and 3rd in 1989, just a few weeks after the fall of the Berlin Wall.

The Malta summit signaled a major turning point in East-West relations lifting the Iron Curtain which had separated the Eastern Bloc from Western Europe for four decades. The purpose of the summit was to provide the two superpowers with an opportunity to discuss rapid changed taking place in Europe.

This image is a work of an employee of the Executive Office of the President of the United States, taken or made during the course of the person’s official duties.

Posted in 1989-2000, June 7 assignment, Political history | Tagged , , | Comments Off on The end of Cold War – The Malta Summit 1989

The Arizona Immigration law

Posted on June 6, 2010 by Qi

This image is from L.A.Times. Arizona Gov. Jan Brewer signed a bill on illegal immigration into a law on April 23,2010. It allows police officers to make arrests and check  individual status  if they think a person is suspicious. This law leads a lot of protests and debate from the country as a whole.

This image is important because it has been the most strict immigrantion reform in the history. In some aspects,this law violates citizens’ civil rights, especially Hispanics’ rights, and discriminates against them. And the government should consider overall immigrants benefit when it is in a federal level. Image website:http://latimesblogs.latimes.com/lanow/2010/05/whites-older-voters-men-more-likely-to-support-arizona-illegal-immigration-law-poll-finds.html.

Posted in 2001-present, June 7 assignment, Political history | Tagged , , | 2 Comments

Ping Pong Diplomacy

Posted on June 5, 2010 by Jing

This picture is found from website of http://www.chinadaily.com.cn/china/2006-03/27/content_553570.htm Two players, America’s Errol Resek and China’s Xu Shaofa, take part in a training session on the 1971 tour of Beijing. (“Chinadaily”)

The original creator of the image snapshot friendly exchange of table tennis (ping pong) skills between two players. In fact, it was not a simply table tennis exchange. In 1971-1972, Chinese and U.S. table tennis teams exchanged visits to each other, which is praised as “ping-pong diplomacy” in the history of Sino-US relations. The visits had opened up the door of friendly civilian exchange between two countries since 1949. It helped end the Cold War between Beijing and Washington. The tour paved the way for Richard Nixon’s visit to Beijing in 1972.

Posted in 1969-1988, Cultural History, June 7 assignment, Political history, Social History | Tagged , , , , , | 1 Comment

Gay marriage

Posted on June 5, 2010 by Yimei

This photo was taken at midnight of  May 17, 2004 in Massachusetts. Marcia Hams(with yellow sweater) and her marriage parter Susan Shepherd( with the black jacket) were the first same-sex couple who start the application for their same-sex marriage license. After completeing the application, they were shaking hands with City Clerk D. Margaret Drury in at Cambridge City Hall.

This event is very important for because it means United States starts to accept the same-sex marriage legally.

This photo was taken by  Steven Senne and was published on Associated Press.

Posted in 2001-present, June 7 assignment, Social History | Tagged , , | 1 Comment