“The plantation society model validly explains the current caribbean society in both social and economic terms” free essay sample

The manor society model filled the need of unbendingly organizing society so as to encourage clear monetary objectives. The Caribbean has since shed a large number of the brutal rigidities of the framework for increasingly liberal social request yet numerous components of the manor framework despite everything remain today. Much like the manor model, the Caribbean keeps on being established in financial turn of events and efficiency. All things considered, some change has happened throughout the years to alter the estate model to current society. Careful clarification of your comprehension of the estate model, regarding inflexible social separation and financial centrality; meaning of the CARIBBEAN (for this situation, recorded definition) 2)ECON †(THEN) The ranch framework was upheld by slave work and monetary life. It was intensely worried about the financial association of a horticultural framework. (Presently) In Caribbean culture today, numerous nations are still intensely established in agrarian creation †a heritage of the pioneer past (eg. We will compose a custom paper test on â€Å"The estate society model legitimately clarifies the present caribbean culture in both social and monetary terms† or on the other hand any comparable point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Guyana, Barbados, Jamaica, Cuba, Santo Domingo and Belize), while others have moved away somewhat. The manor was organized as such to help an arrangement of work. This arrangement of work was equipped towards the expansion of yield through specialization. (Presently) Labor and society are not really as firmly connected. Our general public is not, at this point unbendingly delineated so as to help the country’s work and financial frameworks 4)ECON †(THEN)The ranch society model depended on a monetary monoculture, explicitly sugar (NOW) gigantic financial expansion has happened with Caribbean regions gaining from the monetary vulnerabilities of the past. Despite the fact that there might not have been as much enhancement in the farming area, Caribbean domains have extended their economies to investigate different endeavors, particularly the travel industry and even oil and gaseous petrol 5)ECON †(THEN) Plantations were run as business ventures with slave work as its emotionally supportive network. Slave work was of least expense to the grower and this upheld the matter of sugar Slavery was nullified in the British West Indian regions in 1834 (full nullification †1838). The Spanish domains were not liberated simultaneously however it for the most part happened between 1873 †1886 (late nineteenth century). The interest for work despite everything proceeded on the estates on the grounds that the economies were as yet centered around the agrarian monoculture. In a portion of the British regions, the â€Å"labour shortage† was filled by obligated specialists and free ex-slaves (NOW) Agricultural creation in the Caribbean isn't bolstered by subjugated work. Some automation has happened to decrease reliance on work yet a specific measure of human exertion is as yet utilized. The recorded heritage of the estate model binds rural business undertaking to physical work can at present be seen today in numerous regions. In any case, work of today is free and endeavors have been made by a few government to forestall work abuse. 6)ECON †(THEN) â€Plantations came to overwhelm the rural scene, hoarding the ripe beach front fields where streets, settlements and ports were set up (NOW) Agricultural land in numerous domains have been moved from these need area to increasingly country territories where huge ranches are conceivable. Enhancements in transportation have made it pointless for the ranches to be situated close to ports and major urban regions. Rather, the ranches have offered approach to flourishing urban focuses and ports, which bolster financial enhancement. 7)SOCIAL _ (THEN) â€Slavery changed the socioeconomics of the district from being where whites overwhelmed a couple of Caribs to one where whites commanded an enormous oppressed populace (NOW) Society is ruled by the relatives of previous slaves and contracted workers. They keep on involving the biggest area of society while whites keep on being in the minority. 8)SOCIAL _ (THEN) †Society was delineated inflexibly as indicated by class and shading (NOW) Even however whites will in general involve the higher layers in the public eye, the other ethnic gatherings have arrived at the most noteworthy position through social portability. The unbending nature of the ranch model has fell for greater value among the various races in the Caribbean. In any case, note that most of people living in neediness in the Caribbean are of East Indian and African drop. End †There have been numerous progressions to the ranch model after some time and this has been pondered Caribbean social and monetary action and yet, numerous components of the estate model have left permanent stamps on the Caribbean and keep on being noticeable to the current day

THE BUTTERFLY EFFECT Essay -- essays research papers

â€Å"Butterfly Effect† was maybe perhaps the best film I have ever observed. I thought that it was secretive, intriguing and interesting. I needed to compose my response paper about â€Å"Butterfly Effect† on account of the likeness to the film we found in class called â€Å"Donnie Darko†. The two movies explore the issue of predetermination completely. Both film had a male character that has recollections, dreams or power outages which make them from the start confounded. Be that as it may, later on, they understood the force they have so as to change their predetermination. The primary distinction between those two movies is their endings. While Donnie Darko has a terrible closure, Butterfly impact closes increasingly idealistic. We can say the finish of the film in â€Å"butterfly effect† is left to the crowd to decipher. Additionally Donnie Darko had the opportunity travel once however the principle character Evan had the opportunity travel a few time s. The two movies dazzled me much and changed my view about predetermination. In any case, the explanation I expound on ‘’ Butterfly Effect† is that it was more practical than â€Å"Donnie Darko†. (Hare) While watching the film my anticipation level was consistently at the top. A few focuses were kept magical and conflicting till the finish of the film. At the main scenes in Film, it is somewhat difficult to comprehend what's going on, however later on, the story can be see without any problem. Toward the starting we know only that the fundamental character Evan is living with his mother and has an awful youth with loaded with missing recollections and power outages. He begun to get mental treatment right a... THE BUTTERFLY EFFECT Essay - papers look into papers â€Å"Butterfly Effect† was maybe perhaps the best film I have ever observed. I thought that it was baffling, intriguing and interesting. I needed to compose my response paper about â€Å"Butterfly Effect† due to the comparability to the film we found in class called â€Å"Donnie Darko†. The two movies explore the issue of predetermination altogether. Both film had a male character that has recollections, dreams or power outages which make them from the outset befuddled. In any case, later on, they understood the force they have so as to change their predetermination. The principle distinction between those two movies is their endings. While Donnie Darko has a terrible closure, Butterfly impact closes progressively idealistic. We can say the finish of the film in â€Å"butterfly effect† is left to the crowd to decipher. Likewise Donnie Darko had the opportunity travel once yet the fundamental character Evan had the opportunity travel a few times. The two m ovies dazzled me much and changed my view about predetermination. Yet, the explanation I expound on ‘’ Butterfly Effect† is that it was more practical than â€Å"Donnie Darko†. (Hare) While watching the film my anticipation level was consistently at the top. A few focuses were kept supernatural and opposing till the finish of the film. At the main scenes in Film, it is somewhat difficult to comprehend what's going on, however later on, the story can be see without any problem. Toward the starting we know only that the principle character Evan is living with his mother and has a terrible adolescence with loaded with missing recollections and power outages. He begun to get mental treatment right a...

Animal Test Should Be Stopped Essay Example | Topics and Well Written Essays - 1500 words

Creature Test Should Be Stopped - Essay Example  â Animals structure a flexible objective for creatures, yet at the same time, it isn't simply to take unjustified advantage of their vulnerability. It ought to be evident that a mouse or a monkey would experience comparative pulsating that creatures would do whenever exposed to certain stinging measures. These creatures don't get food, water and, rest. In different conditions, they experience brutal treatment. For instance, hounds safely guarded in chambers to test whether a given bug spray is secure for breathing by individuals. On numerous events, there is no utilization of sedation at the hour of testing. This is because of an unfeeling mentality towards the wellbeing of creatures and stays away from the change of the test outcomes (Sherry, 1994). Be that as it may, simply envision that you are in a venue with no sedation or stacked in a squalid cell since a well known individual needs to try how your body reacts to that given environmental factors. In the event that people s tep up to the plate of being compassionate towards certain animals that you will understand the to some degree torment these guiltless creatures need to shoulder during such investigations. A few nations, any semblance of Netherlands New Zealand have illegal the usage of splendid chimps among different primates for tests. (Thomas, 1995). Results got from the training help with checking whether a given example of medication or corrective ancient rarity would result to any responses on individuals. The working components of people are not quite the same as those of creatures. The broad utilization of Aspirin is for the fix of torment, fever, aggravation, and so forth in individuals. On the other hand, this accurate medication ends up being noxious for rodents.  Most led tests are on the normal world, which can't be a reliable reason for prognosticating results on individuals. This shows, the rodents or mice are not the correct structures to estimate responses in individuals, where as just monkeys and chimpanzees are on the grounds that their nearby connection to people. A large number of us don't know that sedate assembling organizations are not liable for symptoms or diseases following from their antibodies or medications; in any case, numerous recently tried medications they gladly exchange; don't yield-required outcomes. The responses of medications like clioquinol and thalidomide are a sign to the charges that medications tried can't shape a premise of contemplations on creatures just as secure for human utilization (Types of Animal Testing, 2010).

Leadership Challenges and Recommendations for Educational

Question: Examine about theLeadership Challenges and Recommendations for Educational. Answer: Presentation Administration is a significant capacity of the administration in an association, yet it is exceptionally difficult to be a pioneer. Initiative constantly offers the difficulties to the pioneer and their aptitudes and capacities. These moves help in ascending to another level, to improve all the while and to show that as a pioneer you can finish something, which might be seen hard and even unimaginable. This article clarifies the various difficulties, which a pioneer faces in todays business world. These difficulties might be inward, outer and others which can be emerged from the job of administration. There are a few proposals for making improvement in the nature of administration advancement programs. There are a few different ways, wherein the pioneers can endure and take the advantages from them. At long last, it remarks on the utilization of suggestion to administration improvement program for improving the difficulties and confinements of approaches, which are utilized to creat e thee pioneers and initiative. Numerous investigations showed that it is exceptionally hard to lead an association in todays business world. The individuals, driving association, face a few difficulties continually. For the pioneers, it is beyond the realm of imagination to expect to envision the circumstance where they dont need to deal with the outer difficulties (Branson, 2008). At a working environment, issues like absence of assets and other required assets, opposition from the powers in the network and association and other relational issues in the association. There might be some social, political and monetary factors on the planet can impact the association too. To some level, the proportion of pioneers is the manner by which well they can deal with the consistent movement of emergencies and minor disappointments, which can present test to the target of pioneers gathering. Aside from this, pioneers face the difficulties in managing the authoritative capacities. It is extremely hard to create administrative adequacy and related aptitudes, similar to; dynamic, vital reasoning, compelling time-the executives, effectiveness in the work and prioritization. The significant test in this procedure is driving a whole group, which incorporates different assignments like; group advancement, group building and the executives of group (Bolden Gosling, 2006). Explicit dangers remember that how to present grandiosity for a group, how to coordinate a group of numerous individuals. Rousing or moving others is likewise a test in an association. The pioneers need to ensure that the individuals in association are happy with their employments and working more astute for achieving the aggregate target of association. With regards to actualize the adjustment in the hierarchical procedures, at that point directing changes is the difficulties of overseeing, driving and underst anding the change. So as to persuade the workers to acknowledge the changes, the pioneers need to actualize different methodologies. It incorporates realizing how to deal with results of progress, beat change obstruction and deal with the response of representatives towards the change. In addition, the pioneers may confront the test in dealing with the inner partners. The pioneers need to deal with the connections among the individuals, picture and legislative issues (Boyatzis McKee, 2006). This incorporates having support and dealing with the various divisions, people and groups. There are some inside difficulties, which originate from inside the pioneer himself. In any case, authority gives pioneers to show the best of them, however it additionally uncovered their impediments. There are such a significant number of cases, where viable pioneers need to beat those difficulties and restrictions for conveying and following their vision to the colleagues. These obstructions to administration are anxiety, uncertainty, and absence of certainty, dread and narrow mindedness (Dalakoura, 2010). Conquering these hindrances can change a normal chief into an extraordinary pioneer. By and large, it is exceptionally hard for the individuals, who take a gander at themselves as pioneers, to acknowledge that they may have a portion of the character attributes and qualities, which influence their capacities and abilities to accomplish the goals. As per a few specialists, understanding that these difficulties are normal for senior and center level director can be useful for both the pioneers and the individuals, those arraigned with the turn of events (Groves, 2007). In this manner, it very well may be broke down that each pioneer faces the difficulties since it is difficult to play out the errands through others to show signs of improvement results, which you need. The board of horrible showing is one of the significant difficulties for each pioneer to confront however then administration of poor outcomes. Aside from this, different difficulties, which are looked by pioneers in todays business condition, are to discover such individuals for the organization, who have great information and experience, have fortitude to deal with all the circumstances and see the truth and grow new pioneers. These days, the associations are turning out to be more innovation situated and mechanical changes are exceptionally quick. Along these lines, constructing the work power to adjust these progressions is additionally a significant test for a pioneer. On the off chance that the pioneers need to address these previously mentioned difficulties in the association, they should attempt to change their approach to ponder the administration. A noteworthy segment of powerful initiative is figuring out how to acknowledge the restrictions in pioneers themselves and they ought to acknowledge the truth of those character characteristics and work to improve them, so they dont discover them in the way. As a pioneer, the individuals feel that it is hard to assemble better relationship among representatives or colleagues, however they ought to think about certain focuses, similar to; they should a unique job in instructing, tutoring and improving others. Now and again, pioneers believe that they are senior and treat the colleagues like they are working for them. It demotivates the representatives to play out their undertakings successfully. So as to propel them, the pioneers can give them trying chances and elevate them to top administration and permit them to upgrade their center skills. They should bolster them by giving criticism and direction. The pioneers should imagine that administration isn't just guaranteeing that the representatives have required office supplies and programming. They should take a gander at the social mental needs of the workers and meet them. Simply driving an association isn't the obligation of pioneers; they ought to guarantee that the individuals from group have an unmistakable target, help and adequately convey the data among the group and with the outside partners too. They should assume the job, so the adherents accept them as their good example and sounding board. Alongside this, it is important to include whatever number individuals as would be prudent in the dynamic procedure and they are excited on their employments. To address with the difficulties of driving in dubious and complex occasions, there should be creative authority in the association. The pioneers require creative administration for themselves as they work the association in flighty and testing conditions. They can make an environment for development in the associations. Creative reasoning, apparatuses and frameworks are essential for the strength of association and future supportability. As a pioneer, you should ensure that all the representatives in the gathering have normal interests. On the off chance that you can discover those individuals, at that point you may have the answer for fathoming the issues and making it feasible for bunch individuals to cooperate for an aggregate objective. Pioneers are likewise person as others, so they accompany the comparative issues as others. As referenced over, one of the significant difficulties in driving the association is confronting individual issues. Managing the character attributes and perspectives, which come in the way and attempting to improve or beat them is critical on the off chance that you need to lead the association viably in dubious and complex circumstances. There are some significant characteristics which viable pioneers need to survive, for example, instability, preventiveness, restlessness and failure to be objective. To adapt to the interior difficulties, the pioneers ought to tune in to the thoughts, considerations and assessments of the individuals. They should give them chances to talk in the dynamic procedure. It is hard to change the authoritative initiative and system (Hayton, 2015). The pioneers should lead the infrequent gatherings to make conversation about the vision and strategic the association. As a pioneer, you should be able to recognize the individuals, who are able in the association. Therefore, offering the obligations and duties to these able HR will make you increasingly powerful, proficient and build up solid authority. The pioneer ought to be certain and satisfied at the work environment. At the point when the representatives feel that their pioneer is focused and uncertain, at that point they become discouraged and unconfident also. In this circumstance, the focal point of the group shifts from its goals to the current discouraged circumstance and this endures the collaboration. In this manner, if the pioneers need to address and defeat the difficulties in the extreme and unsure occasions, they should change the view towards the position of authority (Rath, 2014). They ought to guarantee that administration isn't just about driving the individuals yet additionally setting up an amicable and adaptable workplace in the association, so representatives can work with fulfillment and joy. Directing an authority advancement program can help the top administration in driving the association adequately. It will support the pioneers and potential pioneers in creating basic aptitudes and capacities of influential position. Administration advancement program filter grow the capacities of people to seek after the influential position in the associations (Gurdjian, Halbeisen Lane, 2014). Positions of authority incorporate executing the procedure of organization utilizing building game plan, engaging mindshare and

How to Write an Essay on Yourself

How to Write an Essay on YourselfAs I sit here contemplating the question, 'How to write an essay on myself?' I feel like one of those interviewers who has a pile of files containing the resumes of their interviewees and must sift through the piles to choose the best for interview.It's true that each essay will differ slightly from the other. So I will mention a few key things to look for when writing an essay on myself. What I'm going to do is talk about some basic rules that I follow that will help me and any person who writes an essay on themselves to achieve better results. I use these tips in the same way as I use the tips I used to research my subjects.First of all, you should always have a list of questions prepared. This allows you to get a feel for what kinds of questions are asked and which ones you might get yourself into. If you want to come across as genuine, then don't use up lots of time preparing your essay questions. Write out a few to test drive and see which ones g et the best results. Ask questions of yourself throughout the process of writing the essay so that you can identify where your strengths lie and which areas you need to focus on.Next, be careful that the topics you choose are the ones that are right for you. The reason for this is that a person that is too focused on the topic is not likely to be able to get the writing out in the open. The problem with focusing on the topic too much is that it can make you not as interested in writing the essay as you could be.Lastly, make sure you have a schedule to get things done. That way you won't be scrambling to finish your work because you're so busy trying to come up with new ideas. Once you have a schedule, you'll be able to get things finished in a timely manner.When it comes to how to write an essay on myself, I think the most important thing that I learned when writing my own essays is that you have to know who you are as a person. It doesn't matter what topic you choose, if you don't know yourself at all, you'll never be able to get past the mind-numbing writing part.I always tell people that once you're comfortable enough with yourself to start writing essays, then you can move on to other things such as your own stories or other personal issues. The more comfortable you become with writing, the easier it will be to go from a blank sheet of paper to a story of someone else.Lastly, don't waste your time doing something that you don't enjoy. You can easily get wrapped up in the topic but as you go on you'll find that you aren't enjoying yourself. So if you really want to learn how to write an essay on myself, get rid of your fear of going against the flow and take the plunge!

Managing a business during a Financial Crisis - Free Essay Example

According to business dictionary, financial crisis is a condition in which the money supply is exceeded or more than the money demand. As a result, liquidity in the market is becoming lesser. In other words, the availability of the money in the market becomes lesser. The available money is withdrawn from banks. Eventually, there are only two ways for bank to handle this problem. Banks either can sell other investments to make up for the shortfall or to collapse as unable to withstand with the crisis. In addition, the financial crisis in year 2007 up to the present is a crisis which caused by a liquidity shortfall in the United States banking system. The financial crisis brings a severe effect to community and banking industry. From the perspective of financial market, it has resulted in the collapse or been bought out of large financial institutions including banking institutions, index in the world stock market had fallen, and the effort of bailout financial systems of Wall Street titans by national governments. The entire financial system is affected by financial crisis. From the perspective of community, the financial crisis has impacts on almost every corner in the world and also every one of us who is living on this earth. The financial crisis has brought to the failure of key businesses, consumer wealth also decreases as the value of money is depreciated, influences the growth of the economy as inactive in economic activity. Eventually, standard of living of community is decline as the economic activity is the indicator of a countrys growth. The Lehman Brothers bankruptcy on September 15, 2008 was a major surprise to a global financial system which already suffering from the mortgage crisis and credit crunch. This collapse of investment bank sparked the worst financial crisis. The victims of the crisis consist of many Giant Corporation, such as Lehman Brothers and also some mortgage giants such as Fannie Mae, Freddie Mac, insurer American International Group (AIG), and banks Merrill Lynch, Washington Mutual, and Wachovia. These giants had been takeovers by the government or to be acquired by competitors at low prices. Causes of Financial Crisis 2008 One of the factors that make the financial crisis happened is the cheap credit which inspires people buy houses by credit especially people in the middle or lower level of income or make investments that is based on the pure speculation. The presence of cheap credit made more money ready in the market. Increasing in money supply aroused consumption and expenditure. When the demand on goods and services increased, price increased as well. As this situation continued, eventually inflation happened. Another cause of financial crisis is the greedy of mortgage lenders who made sub-prime loan to people who have poor credit ratings such as borrowers with a record of delinquent payment, previously charged-off loans, bankruptcies or even court judgment to pay off by charging higher interest rate. The loose regulation also made people easier to get loan and this made the demand of houses became higher and drove up the house values. Thus, lenders, insurers and investors made more money. Consequently, many borrowers could not afford to pay their home mortgage payments with adjustable rate mortgages (ARMs) because the monthly home loan payments were rising skyward. Thousand of home mortgage foreclosures as scores of lower-income home buyers, especially those with subprime mortgages. Lenders were suffered from illiquidity and unable to pay to investors. Mortgage-backed securities became more risky and the value of the securities was dropping, thus caused some investment firms like Lehman B rothers get suffer from it. Besides, insurers who insured those bad mortgages were not get away from suffer and involved in trouble as well. Impacts of Financial Crisis 2008 Impact on Financial Market According to Bloomberg Businessweek, the Standard Poors 500-stock index, the broad U.S. stock index, dropped 9% in September 2008 and another 17% in October 2008 as investors worried the worlds financial system would stop operating after the fall of Lehman Brothers that cause the world financial crisis. Many individual investors faced huge losses in almost every asset class such as equities, corporate bonds and real estate except for cash and government bonds which are less risky. Due to the sudden and huge losses faced by investors in the financial market, so when some clients came and seek for advices from financial planners, they have claimed that they do not want to expose to the stock market at all. (Frank, 2009). Being of this, the stock market had declined and become inactive as there were lesser investors trading and push the stock market. According to Professor Vickie Bajtelsmit, Chair of the Finance and Real Estate department at Colorado State University, investors often sell at the bottom of the market due to the huge losses that individual investors faced during crisis. They do not buy in the stock or other investments until investments are well and stable along their way to recovery. Therefore, they essentially lock in the losses and miss out on gains due to the fear appear in their mind. They are fear to take risk again. Bear Stearns The Bear Stearns Companies, Inc. was a global investment bank and securities trading and brokerage firm based in New York City. In addition to this, it was the fifth-large U.S. investment bank before its collapse. The main business areas of Bear Stearns were capital markets which consisted 80% of its business including equities, fixed income, investment banking, 10% of its business areas was wealth management, and another 12% was global clearing services. Besides, Bear Stearns was involved in securitization and issued huge amounts of asset- backed securities. Before Financial Crisis Bear Stearns had survived major crisis since it was founded in 1923, such as the Great Depression, World War II, the 1987 market crash and 11 September 2001 attacks. In the months following 11 September, Bear Stearnss executives were relied heavily on the manufacture and the sale of mortgage-backed securities. In the short run, Bear Stearnss decision to become a leader in manufacture and the sale of mortgage-backed securities resulted in huge profits for them. Bear Stearns capitalized on the boom of mortgage market that happened in 11 September when the Federal Reserve loosened the money supply. Another source of profit of Bear Stearns was a small hedge-fund division with $45 million equity investment. Bear Stearns has established a hedge fund called High-Grade Structured Credit Fund with money from outside investors. This hedge fund invested in low-risk, high-grade debt securities, such as Collateralized debt obligations (CDOs), which has the investment ratings of AAA or AA. The fund used leverage to generate returns by borrowing money in the low-cost, on the other hand buy higher yielding and long-term CDOs at short-term repo markets. In August 2006, Bear Stearns opened a second fund called the Enhanced Fund that used more leverage and it was more risky than the High-Grade Structured Credit Fund. High-Grade Structured Credit Fund never had a losing month for 40 months and achieved a 50% cumulative return. The Enhanced Fund also performed well during its short existence. During Financial Crisis Subprime Mortgage Hedge Fund Crisis The subprime mortgage crisis is an ongoing real estate and financial crisis because of the fall in U.S. housing prices. Securities backed with subprime mortgages which were widely held by many financial firms faced losses due to lost in the securities value. During the weeks of July 2007, Bear Stearns disclosed that the two subprime hedge funds had lost nearly all of their value due to the rapid decline in the market for subprime mortgages. A report in the New York Times dated September 21 noted that Bear Stearns posted a 61 percent drop in net profits due to their hedge fund losses. In addition to this, Bear Stearns was writing down a further $1.2 billion in mortgage-related securities. Besides, Standard Poors downgraded the companys credit rating from AA to A. After financial Crisis Federal Reserve Bank of New York and J. P. Morgan Chase had provided emergency funding to prevent the financial collapse of Bear Stearns in year 2008. J. P. Morgan Chase is a global investment banking and securities firm. It is also one of the Big Four banks in United States. The Federal Reserve issued a non-recourse loan of $29 billion to J. P. Morgan Chase for it to bail out Bear Stearns. J. P. Morgan Chase is just paying $10 a share to take over Bear Stearns which a little compared to year 2007 which was trading for as high as $170 a share. The purchase price indicated that how far the value of Bear Stearns dropped with the collapse of its two big hedge funds. As the consequences of failure of huge investment bank, U.S. financial system is almost collapse if the Federal Reserve did not take action to rescue Bear Stearns. Bear Stearnss shareholders had faced losses and this incident has shrunken the investors confidence in investing in stock markets. Fannie Mae and Freddie Mac Fannie Mae (Federal National Mortgage Association) was established in 1938, and its brother company Freddie Mac (Federal Home Loan Mortgage Corporation) was founded in 1968. Both Fannie Mae and Freddie Mac are government sponsored enterprise (GSE) which created to expand home ownership. In addition, it is also provides a secondary home loan market for buyers. Fannie Mae was a middleman and never made loans directly to the consumer. It buy mortgages from approved mortgage sellers, either for cash or in exchange for a mortgageÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ backed security (MBS) for a fee, carries Fannie Maes guarantee of timely payment of interest and principal. Fannie Mae keeps some but resells most to investors guaranteeing to pay off a loan if the borrower defaults. By purchasing the mortgages, Fannie Mae and Freddie Mac provide banks and other financial institutions with fresh money to make even more new loans, thus increasing the pool of homeowners and allowing Fannie Mae to continue making large profits. Before Financial Crisis Due to the political pressure, Fannie Mae and Freddie Mac have had to expand their home ownership to middle or lowerÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ income families or poor credit rating borrowers and this led to a riskier mortgages being issued, as well as riskier MBSs. There was a actual risk was that Fannie Mae might guaranteed and pledged those questionable mortgages and lose out when many borrowers were not capable to discharge their payment or obligations. During Financial Crisis Unfortunately, in year 2007, the subprime mortgage crisis began. Poor credit ratings borrowers were unable to pay their mortgages payment especially with adjustable rate mortgages (ARMs) because the payments risen sharply. This made a sudden rise in home foreclosures. Consequently, house prices had fallen and cause more and more foreclosures added to the large inventory of homes. Besides, strict in lending standards made it difficult for potential borrowers to secure new mortgages. The decline in house prices led to a huge amount of losses for Fannie Mae and Freddie Mac. The US government attempted to calm the market in July 2008 because government believes that Fannie Mae and Freddie Mac play an important role in the US housing finance system. Therefore, Treasury Department and the Federal Reserve decided to take steps to build confidence in the companies. The steps included permitting both corporations enter to Federal Reserve discount window and removing the prohibition and allowed Treasury Department to buy Fannie Maes and Freddie Macs stock. However, in August 2008, shares of both Fannie Mae and Freddie Mac had plummeted more than 90% from their one-year prior levels. At the same time, their investments in other financial institutions reported losses as well. Their capital adequacy ratio of 0.5% was unable to meet up to the requirement of subprime lending crisis. Creditors and some responsive investors responded it by limiting and restraining the credit supply and selling those shares. Treasury Secretary, Hank Paulson asserted that these losses could jeopardize the US financial system entirely because it already struggling by housing markets and it could have collapsed if Fannie Mae and Freddie Mac had failed. Besides, the fall in the securities of both companies would result in losses to many institutions like pension funds, mutual funds, and global economies. Many US banking institutions own stock in Fannie Mae and Freddie Mac, all are now facing pending dividends in addition to a huge and visible loss in share value. Some banks may also have problems with capitalization due to the related loss of invested funds. Fannie Mae and Freddie Mac had great impact on our financial system that a failure of one of them would give rise to a great turmoil in our financial markets. Besides, the credit default swap (CDS) market is concerned as well, the federal bailout of Fannie Mae and Freddie Mac being looked on as a type of bankruptcy. So, a new protocol is being developed to evaluate and settle Fannie and Freddies credit default swaps accurately. After financial Crisis Consequently, in September 2008, the Federal Housing Finance Agency (FHFA) announced the federal takeover of Fannie Mae and Freddie Mac and placed them under conservatorship and took control of both the companies assets and operations. The bailout of these two government sponsored enterprises (GSEs) happened in the mid of the current credit crisis. At the time of the takeover, Fannie and Freddie owned or guaranteed about half of all American home loans and had total obligations of $5 trillion. So, making their conservatorship is one of the largest and potentially costliest federal bailouts of private companies in US history. It is also a most expensive bailouts ever faced by the taxpayers in the US history. The value of the companies common stock would be diluted but not die out whereas US government may protect the holdings of other securities such as company debt and preferred shares. Government also make quarterly injections as the companies losses warrant. As a result of the governments intervention, the cost of borrowing for Fannie Mae and Freddie Mac should turn down, because the government will be standing behind their debts. Although the US Treasury has made a solid $200 billion commitment to maintain financial operations and support mortgage guarantees, but stockholders will bear any primary losses and taxpayers may eventually be in risk of covering the firms combined liabilities. The government conservatorship is planned to maintain and sustain the financial stability and capitalization of both Fannie Mae and Freddie Mac as well as to prevent further losses when possible. Feds responses In order to minimize the effect of the financial crisis, Fed had taken some actions to response to this financial crisis. First of all, we need to investigate on its monetary policy. Federal considered the dual mandate which is price stability and maximum employment. So, policymakers conduct monetary policy through open market operations, discount rate and reserve requirements. By changing the discount rate, Fed manages to influences the demand and supply of balances at the Fed and shifts the actual federal funds rate toward the target which been set during the meetings of the Federal Open Market Committee. After decreasing the target federal funds rate, bank borrowing became less expensive and more affordable to bank because the spread between the target federal funds rate and the primary credit rate was narrowing. This spread was 100 basis points in the early August of year 2007 but narrowed it to 25 basis points to make available source of liquidity to strong financial institution. However, the rate offered to banks is still an above-market rate. On the other hands, Federal Reserve requires the depository institutions maintain reserve requirement or in other words amount of funds either in the form of vault cash or deposits with Federal Reserve Banks. Changes in the reserve requirement formally will influence the bank liquidity and the lending capacity in the market. Besides, Congress was allowed Federal Reserves to pay interest on required reserve balances and surplus balances. This will helps Federal Reserve to expand its balance sheet to provide the liquidity for financial stability. Next, Fed formed a new lending procedure in the form of the Term Auction Facility (TAF) and the Primary Dealer Credit Facility (PDCF), and transformed their securities lending program and introducing the Term Securities Lending Facility (TSLF). The TAF offers commercial banks funds through an unknown auction facility to remove the stigma attached to normal discount borrowing. The PDCF extends lending rights from commercial banks to investment banks whereas TSLF allows investment banks to borrow Treasury bills, notes and bonds using mortgage-backed securities as collateral. All of these programs offered funding for terms of roughly one month at relatively favourable interest rates. Fed also made adjustments to original procedures. Firstly, they extended the term of their repurchase agreements to 28 days and accepted mortgage-backed securities. Moreover, Fed extended the swap lines to European Central Bank and the Swiss National Bank that allowed them to offer dollars to commercial banks in their currency areas. Central banks balance sheet is one of the important elements in this financial crisis. There are two principles in managing its assets and liabilities. First, size of the balance sheet must been controlled or in other words is the quantity of monetary base. By changing the level of the monetary base, Fed can keep the market-determined federal funds rate near to their target. Furthermore, central bank is responsible to control the composition of its assets. Fed can make decision on which assets to hold. These assets include treasury securities, foreign exchange reserves and others. The assets of Fed hold highly related to its new programs. For example, by the end of March 2008, Fed had committed more than half of its assets to the new programs such as $ 100 billion to the Term Auction Facility. Changes in the combination of central bank assets are projected to control the relative price of a financial asset. In conclusion, Fed broaden its traditional programs and implemented non-traditional programs in order to improve credit markets through infusions of liquidity and restore the confidence in turn to maintain financial stability. Recommendation In our opinion, we think that Fed should review its policies. Fed was not responding well to reduce the impacts brought by financial crisis. For example, Feds action of cut interest rates and loosen the money supply in market. Instead of lowering interest rate, Fed should charge higher interest rate to make the emergency credit more costly for better- targeted lending. Besides, high interest rate discourages consumption. As a result, inflation will decrease. On the other hands, Feds responses had forced central banks in countries outside U.S. which manage their exchange rates against the dollar to import inflation rather than deflation. Consequentially, these countries currencies have become undervalued. As their real interest rates had declined, these countries in fact are exporting inflation back to the US. So, emerging markets need to tighten their monetary policy further in order to reduce inflation. By revaluing against the dollar, these countries can prevent inflationary pressures from the U.S. Besides, we think that government should promote a recapitalization of the banking systems to enhance it. This can help to inject some public capital into banks and pressure banks to raise additional private capital. Government also have to ensure that all the depository institutions must maintain the adequate reserves in their vault. Lastly, government can loosen the repayment terms on mortgage agreements in order to reduce the defaults of payments and foreclosures. Government is also encouraged to expand its monetary and fiscal policies abroad. This is because the increase in spending in countries outside U.S. can offset the decrease in U.S. consumer spending. Besides, this allows US to offset the fall in housing construction by increase in exports activities. Conclusion In conclusion, financial crisis can harm the financial markets either in US market or global and the economy will experience recession. So, Fed as the central bank for U.S. is bearing heavy responsibilities in the market. All the decisions made should consider many factors so that the market would not collapse due to the crisis. Financial crisis had caused panic to people in the markets. Panic drives people to sell risky assets to raise money in cash. People save more and spend less. Besides, corporations also cut their spending and investments. Worst, some corporations faced difficulty to defend themselves and finally fall into bankruptcy. Even though some actions had taken by Fed and Treasury department to solve this financial crisis, but the actions taken did not fully solve the problems and some actions even bring the opposite effects in the markets. So, government must ensure the market stability and liquidity by proper using its tools such as monetary and fiscal policies. Besides, corporations and people must also cooperate with government to prevent financial crisis happen.

Macbeths Power Essay - 1051 Words

Throughout reading the play, Macbeth changes a lot from being a man of loyalty and honesty, to a man of whom is power hungry and greedy. This shows how the more power you receive the more power you want; which in many cases, such as this one leads to destruction. Many of the choices that Macbeth made were influenced by the power that he had, and this power began to take over him. This then lead to greed and destruction of not only others, but himself as well. nbsp;nbsp;nbsp;nbsp;nbsp;In the beginning of the play, Macbeth is not in a position of authority yet still receives praise. Although Macbeth is not in a place of power, he is truly content with his life. Macbeth is looked up to and admired for begin so brave and courageous. In†¦show more content†¦But little did the king know that this taste of power would bring out new dangerous qualities in Macbeth. nbsp;nbsp;nbsp;nbsp;nbsp;Once Macbeth possessed the power of being Thane of Cawdor he began to exhibit more greed. He has just been given such a huge responsibility and once he was given new power, he craved more; especially when he stumbled upon the witches. He liked the power that he had and wanted to gain more, no matter what he has to do to get it. Macbeth had an encounter with the three witches and they had told him that he will become the next king. Although the witches did say this it did not mean that it was certain, it was just a possibility. But when Macbeth realized the opportunity for power he knew he wanted to become the king. This passage was in part of the letter that Macbeth wrote to Lady Macbeth: â€Å"Whiles I stood rapt in the wonder of it came missives from the King, who all-hailed me ‘Thane of Cawdor,’ by which title, before, these Weird Sisters saluted me and referred me to the coming on of time with ‘Hail, king that shalt be’† ( 1.5.6-10). . It seems as if the power and greed now had full control over him, he is doing things that he wouldn’t do when he did not have all this power. This is the first time that we see this side of Macbeth, the side of him that is greedy for power and is willing to kill the king to do so. In the beginning of the play the thought of being Thane of Cawdor never even crossed his mind, and by no means beingShow MoreRelatedPower in Macbeth1680 Words   |  7 PagesPower in Macbeth The play Macbeth by William Shakespeare is still a well known a widely studied text, despite having been written many centuries ago. Arguably one of the most pivotal themes of the play is that of power, which is looked at in many different ways and lights in the text. Ultimately, Shakespeare does not seem to support the commonly held view that power corrupts. 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He goes from being praised as a noble soldier to a traitor andRead MorePower And Its Creations : Lady Macbeth1094 Words   |  5 PagesPower and its creations Power has the ability to manipulate and control whatever one desires; to do what one pleases to do without answering to authority. The power that corrupts the characters plays an extensive role throughout Shakespeare s play. In Williams Shakespeare s tragedy of Macbeth, a scottish noble craving for power leads to him to commit terrible actions that creates conflict between him and society. Shakespeare demonstrates Macbeth abuses power by using it negatively againstRead More Corruption and Power in Macbeth Essay754 Words   |  4 Pages nbsp;nbsp;nbsp;nbsp;nbsp;Personal power has the ability to be essential to greatness, and at the same time is able to destroy a person’s nature. In the drama Macbeth by William Shakespeare, the main character, Macbeth, becomes corrupt through power that he gains. The play shows that even someone who starts out like Macbeth and does not crave power, will do terrible things to gain authority and power. nbsp;nbsp;nbsp;nbsp;nbsp;The play begins with the characters King Duncan and Malcolm talkingRead MoreEssay on The Influence of Power in Macbeth1421 Words   |  6 PagesTragedy of Macbeth, the most prevailing theme is the shift in power in the relationships of the central character. The main character of the play, Macbeth, experiences a shift in control of his relationships as he gains more power. Duncan is the most unlikely character to be killed because of his personality, but because he is the King of Scotland, Macbeth loathes him. In the play there is very interaction between Macbeth and Duncan, showing the little time in which Macbeth gets more power. Prior