Mo Money, Mo Greed & Corruption Essay -- Economics Finance Papers Fi

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 laugh about it. But that's not why I'm upset; that's merely capitalism at work. Capitalism is important because it provides a framework for people to aspire for more. But the downside is that an entirely different class is produced. Although small in numbers, this class of people has an infinite amount of power. I get really upset when I see these people, who are already beyond the definition of rich, committing fraud or perpetuating unfair political policies that keep them and their friends so wealthy. This extreme greed and corruption are the targets of my attack. I interned with Merrill Lynch and Smith Barney/Citigroup over the summer and I soon plan to begin my full-time career on Wall Street as well. When I started reading the Wall Street Journal last spring, I began to notice that every day's headlines included a scandal of some sort. Most people have heard of Enron, a company that inflated financial reports consistently until the "bubble" collapsed, revealing the truth and sending the c... ...al to make sure they stay ahead of the game. This is exactly where my problem arises. While they’re â€Å"playing† this game, millions of Americans are living in poverty. Many people even live on the streets, trying to survive until their next meal. Some rich people have done extraordinary things with their money through philanthropy and charity. I wish that every wealthy American would follow this same path of giving. I would like for this selfish â€Å"game† to finally end. Will it happen anytime soon? I know that it won’t. But I do have the power to control my own actions. I have set high goals for myself with my career and in my life. Coming from a disadvantaged background I know that I will better appreciate whatever wealth I attain. Whether or not I make it to the top one percentile, I am certain that I will never forget the struggles that millions of Americans endure.