The Financial Crisis Of 2007 And 2009 - 1594 Words

Prior to the crisis in 1907, individual banks such as JP Morgan and the reserve banks of New York were considered full service financial institutions. In the year 1913, the Federal Reserve System was created by congress to help stabilize the financial market by acting as the lender of last resort to the banking institutions (federalreserve.gov). Nonetheless the great depression still hit the economy between 1929 and 1933 which led to the stock market crash and market share value decrease by 80% (history.com). By the 1980s, the economy had stabilized again and there was increase in computer analysis, electronic information transfer, increased importance of global markets and deregulation of financial institutions. The financial crisis of 2007 and 2009 was the worst since the great depression. It was not a single event but a series of crises whose seeds had been planted in yet another recession of 2001 and the era of the internet bubble years earlier (Bodie, Kane, Marcus, 2011). One of the reasons for the crisis was the rise in subprime lending. Subprime loans were offered to individuals who did not qualify for prime rate loans and carried a higher rate of interest than prime loans (Gilbert, 2011). Another reason behind the subprime mortgage crisis is argued to have been due to the lack of ethics and poor policies such as the Goldman rule which encouraged pursuit of profitable opportunities irrespective of the effects on others (Watkins, 2011). The crises impacted theShow MoreRelatedThe Financial Crisis Of 2007-20091490 Words   |  6 PagesThe financial crisis of 2007-2009 resulted from a variety of external factors and market incentives, in combination with the housing price bubble in the United States. When high levels of bank and consumer leverage appeared, rising consumption caused increasingly risky lending, shown in the laxity in the standard of securities screening and riskier mortgages. As a consequence, the high default rate of these risky subprime mortgages incurred the burst of the housing bubble and increased defaultsRead MoreThe Financial Crisis of 2007-2009526 Words   |  2 Pagesfar the worst financial crisis that it has ever encountered, which was called The Great Depression, but the second worst was not that long ago. During the Financial Crisis of 2007-2009 the United States had a chain of banking failures and a tremendous growth of liability in the federal budget. However, the government had stepped in to prevent some of these failures and through this the concept of â€Å"Too Big To Fail† was created. â€Å"Too Big To Fail† is a concept where a business or financial institutionRead MoreFinancial Crisis Between 2007 And 2009 Essay1331 Words   |  6 PagesFinancial Crisis between 2007 and 2009 was the worst economic crisis after the Great Depression in 1930s. This crisis was a worldwide crisis as it affected the financial system globally and led to collapse in economy. Financial intermediation is a process of banks that take funds from the depositor and lend them out to the borrower. In the financial transaction, financial intermediary acts as the middleman between two parties. Commercial bank, investment banks, pension funds are the example for financialRead MoreWhat Was the Main Cause of the Financial Crisis in 2007-2009?1989 Words   |  8 PagesThe intention of this essay is to provide an in depth and critical analysis of the financial crisis that took place between 2007-2009, in particular focusing on some key issues raised by the Foote, Gerardi and Willen paper †˜Why did so many people make so many Ex Post bad decisions?’ Whilst there were many contributing factors, it is clear that a specific few played a particularly dominant role, primarily the ‘Bubble Theory’, irresponsible regulation, toxic CDO’s and $62 trillion of CDS’s. ‘That’sRead MoreA Review of Kacperczyk and Schnabls Article When Safe Proved Risky: Commerical Paper during the Financial Crisis of 2007-2009668 Words   |  3 Pages Scnabl trace the financial crisis of 2007 2009 via commercial paper. They describe the important role commercial paper played during the financial crisis. The working definition for commercial paper with respect to finances used in this article is as follows: Financial commercial paper is issued by large financial institutions. In contrast to asset-backed commercial paper, financial commercial paper is issued by the institution directly and not via a conduit. Also, financial commercial paper isRead MoreCauses And Effects Of The 2007865 Words   |  4 PagesEffects of the 2007 to 2009 Financial Crisis Financial crisis is a situation in which there are significant disruption in financial markets that is categorized by severe declines in asset prices and the failures of many financial and nonfinancial firms. Some of world’s greatest managed financial institutions went bankrupt and were striving for a bail out which led to government intervention to prevent a significant recession. In 2007, United State experienced one of the worst financial crisis since theRead MoreImpact of Financial Crisis on Gulf Area Essay1732 Words   |  7 PagesThe global financial crisis that was experienced in 2007/2008 affected many nations of the world. Some countries such as America and most European countries were hard hit since they were directly affected by the crisis. Other countries especially those in Asia and Africa were not adversely affected as they were not directly hit by the crisis. This crisis started in the United States after the housing bubble busted. Although the bursting of the housing bubble was the main cause of the crisis, there wereRead MoreCauses of the Financial Crisis of 2008-20091736 Words   |  7 PagesCauses of The Financial Crisis of 2007-2009 According to our financial textbook â€Å" Financial crises are major disruptions in financial markets characterized by sharp declines in asset prices and firm failures† (Mishkin and Eakins 2012). In August 2007, defaults in mortgage market for subprime borrowers sent a shudder through the financial markets, leading to the worst U.S financial crisis since the Great Depression. Alan Greenspan, chairman of the Fed, described the financial crisis as a â€Å"once-in-a-centuryRead MoreThe Global Financial Crisis Of 2007-20081123 Words   |  5 PagesThe Global Financial Crisis of 2007-2008 is the worst financial crisis since the 1930’s The Great Depression (Reuters, 2009). Even if bailouts of banks by national governments prevented the collapse of major financial institutions, worldwide stock markets continued to drop. Evictions and foreclosures overwhelmed the housing market while severed unemployment embraced the labor market (Baily and Elliot, 2009). This global financ ial crisis was responsible for the decline in the consumers’ wealth, andRead MoreVietnam And Its Effects On The United States1101 Words   |  5 Pagesopenness and (ii) Before the crisis, Vietnam was ranked the 50th and 41st among the top 50 countries with highest exports and imports relatively, accounting for 0.3% of total global exports and 0.4% of total global imports. Two majors news affecting Vietnamese exports in the seven-years period between 2001 and 2007 are the opening of the US market starting in 2001 and the joining of Vietnam into WTO in 2007. During this period, lasting until before the financial crisis, Vietnamese exports had been

Satire in the Eighteenth Century Essay - 790 Words

Satire in the Eighteenth Century New ideas, original thoughts, and fresh interpretations characterized the spirit of the eighteenth century. Science was flourishing, and therefore it brought new discoveries that challenged the traditional dominating force of religion. Influential figures of the age, such as Voltaire, Jonathan Swift, and William Hogarth, strove to assure human betterment and advance human thinking through truth and humorous criticism. They employed the use of satire in order to accomplish their common goal. According to A Handbook of Literary Terms, satire is defined as a work or manner that blends a censorious attitude with humor or wit for improving human institutions or humanity (Harmon and†¦show more content†¦Jonathan Swifts novel Gullivers Travels mocks the English system of government with the dwarfed civilization of Lilliput (Swift Biography). He parallels the Lilliputian emperor to the English monarch and stresses the segregation of English courts. The narrator, Gulliver, states his natural disposition: I had been hitherto all my life a stranger to the courts, for which I was unqualified by the meanness of my condition (Swift 78). Moreover, the biased charges of treason that befell Gulliver were Swifts weapon of caviling against English monarchy. Satire was not limited to literature. Prominent artists such as William Hogarth used satire to depict all that he saw was wrong in his country (Art of William Hogarth). The Harlots Progress (1732), The Rakes Progress (1735), and Gin Lane (1745) were all works that removed the sugarcoated image of English life and revealed it as it was. Hogarth was also influenced by the theater and the novel in the formation of his paintings, especially with The Harlots Progress. What is more, it had never occurred to anyone that the theater and the novel had much to offer the visual artist. But it did occur to Hogarth; the Harlot not only followed the classic stage pattern of an unmasking, but was designed to be read. In the ideal world, the theater-goer and theShow MoreRelatedA Modest Rape : The Eighteenth Century And The Power Of Satire1715 Words   |  7 PagesLinda Rector May 14, 2015 ENG 215 Final Research Paper A Modest Rape: The Eighteenth Century and the Power of Satire During the restoration in the eighteenth century, wit and reason came to the forefront of literary works. Keen intellect and sharp observation exposed moral corruption of the neoclassic British society through the use of satiric literature. Although they placed importance on the ideals of order, knowledge, and rational, there was an underlying obsession with maintaining a faà §ade ofRead MoreThe Earl Of Rochester And Jonathan Swift1307 Words   |  6 PagesWhen reading Eighteenth- Century literature it is clear that the concept of one’s privacy was non-existent, particularly in poetry. Poets of this period were more aware of the growing public readership they had as a result of developments in education, and people from each class were now able to access poetry. This meant what was published had a greater impact on society, as poetry became increasingly â€Å"[†¦] a more public form of expression† (Goring, P. p.64) for writer’s opinions on political andRe ad MoreEssay on Comparison of Pope and Swift1712 Words   |  7 Pagescosmetics in eighteenth century society. In The Rape of the Lock, Pope gives a positive representation of cosmetics nature and function in eighteenth century society. On the other hand, Swifts representation takes a very negative tone. Both poets clearly appreciate and admire the natural beauty of a woman and their opposite opinions and therefore representation of the nature and function of cosmetics, springs from this admiration. Pope, whilst slightly ridiculing cosmetics through his use of satire, representsRead More Comparison of Pope and Swift Essay1676 Words   |  7 Pagescosmetics in eighteenth century society. In The Rape of the Lock, Pope gives a positive representation of cosmetic’s nature and function in eighteenth century society. On the other hand, Swift’s representation takes a very negative tone. Both poets clearly appreciate and admire the natural beauty of a woman and their opposit e opinions and therefore representation of the nature and function of cosmetics, springs from this admiration. Pope, whilst slightly ridiculing cosmetics through his use of satire, representsRead MoreThe Rivals as a Comedy of Manners1101 Words   |  5 Pagescomedy that Goldsmith and Sheridan raised their voice. But Goldsmith was only an elder, not a better soldier than Sheridan†. Sheridan successfully avoided the goddess of the woeful countenance and rehabilitated wit, fun laughter and mild satire to their respectable place in his comedies. Sheridan presented the fashionable upper class society of Bath in The Rivals. The characters of the play are entangled in amorous intrigues and have nothing more important to do than to pay socialRead MoreComparison of Gulliver’s Travels and Haroun and the Sea of Stories583 Words   |  3 Pagesâ€Å"Gulliver’s travels† is a story based upon England at the time when Jonathan swift lived. This was in the 17th century. Also, there are definite correlations between particular characters in the Lilliput community with political figures in the British political system. The novel is a big twist of allegorical themes and similarities to the real world and so it is called a political satire. Allegory means a representation of some meaning through concrete or material forms. This novel is similar to â€Å"HarounRead MoreFrench Nobility1137 Words   |  5 Pagestheir state around the nobility and the clergy, not taking into account the massive amount of commoners. The Third Estate was finally created centuries later to help bring order and give common people their own place within society. Charles Loyseau and Isabelle de Charriere are two prime sources that compare French nobility during the 17th and 18th century, leading up to the French Revolution. Charles Loyseau, both a jurist and legal scholar evaluates French society in his writing A Treatise onRead MoreA Modest Proposal1096 Words   |  5 PagesAssignment 1: Swift’s â€Å"A Modest Proposal† Dr. Anthony McCormack Strayer University World Culture II Gladys A. Reyes July 25, 2015 In the satire â€Å"A Modest Proposal’, Jonathan Swift expresses his feelings of frustration with regard to the aggravation and political issues in Ireland. He describes being frustrated with the indifference of Ireland politicians, the wealthy, the English tyranny, and the degradation and poor conditions in which many poor, Irish women and children have been forcedRead MoreDramatic Irony In Gullivers Travels813 Words   |  4 PagesGullivers Travels reflects conflicts in British society in the early 18th century. By narrating Gullivers adventures in Lilliput, Brobdingnag, Laputa, and Houyhnhnm, the novel reveals and criticizes sins and corruption of British ruling class and their cruel exploitation towards people of Britain and neighboring countries in the capital-accumulation period of British history. Gulliver is treated differently in different countries. The author depicts every situation at great length, which makesRead MoreJohnsons London2316 Words   |  10 PagesJo hnson (1709-1784) Theme of the country and city in London. Samuel Johnson’s London is a satire which addresses the condition of Eighteenth century England, marked by various changes in the personal and public front. The satire heavily accommodates political, socio-economic and cultural data which further explains the current situation confronting the poet at that time. Johnson’s usage of satire echoes the popular literary tradition of the period, which serves as a tool of social critique.

Employment Effects of Green Energy Policies

Questions: 1. Legal issues that should be meditated after, before and during the merger add? 2. Issues on ethical basis should be meditated after, before and during the merger? 3. A plan for implementation the work of managing the potential legal concerns for the merger? 4. A plan for implementation the work of managing the potential ethical concerns for the merger? 5. How the recommended strategy would assist managers establish an ethical environment of work? 6. A plan for how to resolve legal issues? Answers: Introduction The subject matter of these definite ethical and legal issues must be contemplated after, before and during a merger. I have been working on this particular subject and I have set up a utilization plan for handling probable ethical and legal concerns for the merger explained how the recommended strategy would assist the managers in establishing a preferable work environment with full of ethics as well as construct strategy on how to resolute ethical and legal issues. 1. Legal issues that should be meditated after, before and during the merger add, First and foremost, it is the main duty of all the management of the companies to know all the terms and conditions of the Sherman Anti-trust Act of 1890. The Act does not favour the business which behaviour dominates the mentality of cartelism and monopolism (Putman, 2006). The Act signifies the value of employees and their welfare. Now it is the responsibility of the management of the company to ensure the merger does not conclude in the structure of a monopolistic company within its industry (Gilbert, 2005). The management of the company should also ensure that the merger does not conclude a cartel that can actuate market prices as well as end up the consumers. If the merger is found to monopolism or cartelism then the takeover of the company will be blocked by the Government (Putman, 2006). The managers of the company must look at all the aspects of the company. They must also look at the employees contract and their agreements. The main purpose of the contract agreement is to state the contract period. When the tenure of the employment will be over, the number of hours the employee is supposed to work, then the contract period will be responsible to ensure the gross salary of the employee. The compensation will be given to the employee for sick leave according to the contract agreement. All the details of the companys pension, employment termination and deduction scheme should be clear and transparent. There should also be a neat and clean procedure of employment retirement process and period (Gilbert, 2005). A mutual approval of shareholder must be signed by the shareholders with regards to the merger. The approval of the shareholders prevents the conflicts after the merger In case these arise from the side of shareholders. Thus the shareholders will give the approval to the consolidation of the companys assets, stocks, workforce, and financial status and so on (Speakman, 2002). The newly formed company has some fear and threats so that they need regulatory approval. The newly formed company must enlist their name as a registered company. It also should be a tax compliant as a single entity. The management of the both companys must be very mutual and transparent and they must look on the various contracts and agreements that both companies are engaged in (Speakman, 2002). The new company will be transferred all the agreements and contractual agreements by the both co0mpanies. Apart from this the debts and liabilities will be transferred to the new company. 2. Issues on ethical basis should be meditated after, before and during the merger A company may not be able to hide and disclose negativity interior its activities; such negativity will surely add the recent loss of vital customers and market shares, recent enhancement of debts and disabilities, recent increase in cost of operations, increase in threats within the company business environment and recent increase in competition from competitors(Chalk, 2001). Some business managers do not want to disclose their business negativity within the business so that they may ensure a successful continuity of their business as well as a successful merger (Chalk, 2001). The merger should always be amicable and friendly, the merger needs to be focused on the benefits of both companys stakeholders. When it comes regarding the head of the newly formed company, there must be no management arguments. All the hardships need to be managed from the beginning to the end with the legal system. All the information of both the companies, such as consumer information, shareholder information and financial information need to be kept in secret (Sonderholm, 2010). There is no need to disclose these information to any other third party. These are required, when the company is a private company. The termination process needs to be very nicely done by the management panel. The company has to provide all the compensation to their employees for the efforts they did for their company (Sonderholm, 2010). 3. A plan for implementation the work of managing the potential legal concerns for the merger In terms of successfully handling any legal or lawful concern that takes place before, during and after the merger, the management of both companies should be responsible for having inspection as to whether a merger will go ahead to a business that would be a cartel or a monopoly in the place of market. There should be a proper shape and structure of a new employee contract. An employee contract should be reliable enough to show the mutual consultation between management and employee before the final drafting. Here both minor and major shareholders should be given equal importance and they should be made known to the merger in a timely manner. There should be an option of voting by which a decision will be made that whether a merger should take place or not with respect to the companys rules and regulations (AKT answer relating to managing parental concerns, 2011). In this subject, Regulatory approval and guidance should take place properly. Both companies should have a good consulta tion of legal advice before, during and after the merger. If any misunderstanding arises then there should be a system of arbitration for both of the companies (AKT answer relating to managing parental concerns, 2011). 4. A plan for implementation the work of managing the potential ethical concerns for the merger There must be competent people to manage ethical concern in a better way. The competency plays an important role to eradicate the mistake in a company. The competency does not allow any unethical behaviours and conduct (Kaiser, 2002). The managers of both the companies should be very transparent and they should reveal all information regarding their companies like recent increase in the cost of operation, recent loss of market shares and important customers, recent increase in competition and recent increase in alarm and threats within the companys environment. A SWOT and PESTEL analysis should be conducted to better understand the business environment of both businesses. Determination of the true value of each company is very much important and in this scenario a financial audit is very much helpful and should be conducted in a proper way (Kaiser, 2002). 5. How the recommended strategy would assist managers establish an ethical environment of work. Conducting a SWOT and a PESTEL analysis will make the managers able to identify the weakness and strength both companies and threats and opportunities of merging. A fair recession process will provide a neat and clean recession to employee regardless of their nationality, religion, caste and language as well as position in the company. Conducting the financial audit will assist managers to identify the true financial value of both companies. Ensuring that only skilled and competent people are involved in the process of merging so that the process can be made smooth and free of bureaucracy. 6. A plan for how to resolve legal issues Mediation is very helpful to solve legal issues, through which both the companies end up their deal neutrally with a concrete agreement. Mediation also helps both parties to take control and decisions on their outcome in disputes with professional manner. Mediation can be useful to solve disputes whereby a neutral holds up any arguments of each company. This decision can be called as award. The decision made by mediation has two parts, one is binding and the other is non-binding. Binding means that, both parties are accepting the arbitrators decision as their final decision (Ogus, 2010). Non-binding means that, either parties or any of them are not satisfied with the decision of arbitrators as final. In case of non-binding, both parties can request for a trial. Legal issues can also be solved through a conference between both parties. The lawyers of both parties should be there in the resolution conference along with a judge. The judge will take action as a resolution officer who wil l let both parties know the strengths and the weakness of their case. And he will help them to finish their case with a neutral settlement (Ogus, 2010). Conclusion The managers of both companies that are involved in merging must ensure that the whole process is conducting in a fair manner and in an ethical way (Brett, 2011). Laws also should be abided by the managers. The outcome of the merger should bring profit to the parties. Any ill feelings that may arise should be sorted out in a friendly way (Brett, 2011). References AKT answer relating to managing parental concerns. (2011). Innovait, 4(2), 118-118. doi:10.1093/innovait/inr002 Brett, A. (2011). Fairtrade, fair-trade, fair trade and ethical trade: semantics, politics and development. Food Chain, 1(1), 117-125. doi:10.3362/2046-1887.2011.010 Chalk, P. (2001). Australia and Indonesia: Rebuilding Relations After East Timor. Contemporary Southeast Asia, 23(2), 233-253. Doi: 10.1355/cs23-2c Gilbert, S. (2005). Ethical, Legal, and Social Issues: Our Children's Future. Neurotoxicology, 26(4), 521-530. doi:10.1016/j.neuro.2004.12.006 Kaiser, J. (2002). BIOBANKS: Private Biobanks Spark Ethical Concerns. Science, 298(5596), 1160-1160. doi:10.1126/science.298.5596.1160 Ogus, A. (2010). The paradoxes of legal paternalism and how to resolve them*. Legal Studies, 30(1), 61-73. doi:10.1111/j.1748-121x.2009.00146.x Pestel, N. (2014). Employment effects of green energy policies. IZA World of Labor. doi:10.15185/izawol.76 Putman, W. (2006). Legal research. Clifton Park, NY: Thomson Delmar Learning. Sonderholm, J. (2010). Ethical Issues Surrounding Intellectual Property Rights. Philosophy Compass, 5(12), 1107-1115. doi:10.1111/j.1747-9991.2010.00358.x Speakman, L. (2002). The legal and ethical issues. Clinical Risk, 8(6), 241-242. Doi: 10.1258/135626202760391070