Current Events Instructions
Once a marking period, you will be responsible for choosing a current event article and writing a summary about your chosen article. You will be given a paper which you will fill out and submit for a grade when your summary is due. Some students may choose to type out their summary on the computer. Either way is acceptable. Please see the sample typed current events below. Students will present their current events as if they are reporting the news to us from a radio show. Current Events will count as a test grade for each marking period. Check the HW board for updates on when your current events report is due.
**You must staple the article to your written summary.
You may choose to use a newspaper or one of the following current events websites:
Do not forget to either print out your article or cut it out from the newspaper!!
Name on paper ___/1
Name of website or newspaper ____/1
Title of article ____/1
Date of article ____/1
Article stapled to summary _____/1
Summary of article ____/10
Personal response to article ____/10
Total : ______/25=________%
Sample Current Events
SAMPLE CURRENT EVENTS FORMAT (if typed out on Word)
Social Studies Block ___
Website: www.timeforkids.com (see attached article)
Date of Article: October 3rd Issue Volume #14
Title of Article: Minds on the Money Mess
The above article is about how recently our economy seems to be falling apart. Last week Congress met to discuss a bill that would lend mortgage and insurance companies that we in trouble $770 billion dollars to fix their financial problems. Some members of Congress think that it is unfair to “bail” out companies who made poor choices. At first only a few companies were in financial trouble. Then a few days later, more companies began waiving their white flags looking for our government to help them out. We will have to wait and see what Congress plans to do.
I think that Congress should not reward the banks/insurance companies/mortgage companies for their poor choices. I think the government should split the $770 billion between all Americans. If Americans get money, they spend it. This will then stimulate the economy. I just don’t think poor choices should be rewarded.
Minds on the Money Mess
Last week, Congress and U.S. Treasury Secretary Henry Paulson worked to prevent a financial scare from turning into a disaster. Paulson wanted $700 billion to fix the mess. Many members of Congress said it would be unfair to bail out the rich bankers who caused the problem.
What is the problem? It started with mortgages. Mortgages are loans to buy houses. People borrow money, usually hundreds of thousands of dollars, then pay back some of it every month for 30 years.
Usually, banks are careful to lend money only to people who have the means to pay it back. But from about 2003 to 2006, the old rules went out the window. Millions of Americans were allowed to borrow more than they could ever repay.
To complicate things, these loans were sold to investors and banks around the world. A homeowner might mail a monthly mortgage check to a U.S. bank, but the money would end up with some bank or investor as far away as Norway or China. So when many Americans couldn't make their monthly payments last year, it affected people all over the world.
The problems kept getting worse. This September, the two biggest mortgage lendersonicknamed Fannie Mae and Freddie Macohad to be rescued by the government. That bailout could cost $200 billion.
Then more banking companies got in trouble. On September 17, Paulson and Ben Bernanke, the chairman of the Federal Reserve Board, were afraid that the whole financial system might be about to fall apart. (The Federal Reserve is the main bank of the U.S.) If that happened, millions of people might lose their jobs. Banks would close. Schools and businesses would run out of money.
Paulson, a former banker, and Bernanke, a former professor, announced that they wanted the government to spend $700 billion to buy bad mortgages. This would help both banks and homeowners. Congress has to give its permission to spend that much money. So Paulson and Bernanke went to Capitol Hill to ask for it.
Most members of Congress agreed that something should be done. They also had many criticisms of how much Paulson and Bernanke wanted to spend and how they wanted to spend it.
Last Thursday, lawmakers agreed on a plan. Will it be enough?