The Financial Crisis Of The United States - 1574 Words

In this reflective case study I will discuss the financial crisis that occurred in the U.S. in 2008 which precipitated one of the largest catastrophe within the housing market causing a collapse amongst the financial institutions. I will also discuss about how the banks were at fault for giving out loans to individuals who were not capable of affording to pay these loans back and all financial institutions that should have had regulations on the loans that were dispensed as well. Though, the collapse with the financial institutions was not only because of faulty loans that were given out but the overvaluation of securities which caused U.S. real estate prices to descend, the overvalue from some of the subprime mortgages, financial†¦show more content†¦Banks were also overvaluing some of the subprime mortgages making a false assumption that housing prices would continue to rise. Subprime loans are loans that are made to individuals who have complications in trying to maintain a more scheduled payment. Individuals who are going through certain hardships in their life such as divorces, unemployment, etc. Most of these investment banks preferred subprime loans because they carried higher interest rates which led to a massive increase in predatory lending. The reason why banks were creating such complex policies were so that anyone who planned to take out a loan would have difficulty translating the documents therefore allowing the banks the take advantage of homeowners without or if any repercussions. Bank institutions as well as mortgage loan officers were encouraging homeownership with the interest of not only gaining a commission but due to the fact that lenders were not going to be responsible if the homeowners did not pay their mortgages. Mortgages were being packaged then sold to investment banks then later sold to investors. Borrowers were arranged in expensive subprime loans and numerous loans were given to people who were not able repay them. Once homeowners were not capable of paying their mortgages investors were the ones who were left with the problems allowing lenders and investment banks to escape through the loop. Banks that were overvaluing the

Significance Of Iran s Nuclear Program And Show How Other...

These papers seeks to explain the significance of Iran’s nuclear program and show how other countries react and are affected by it. Israel does not only have a particular outlook of the Iranian nuclear program, but it also has an independent way of taking evasive action to reduce its fears (Eiran Malin, 2013). If Israel were to launch attacks on Iran to push back their nuclear program, the cause and effects of this could ripple across the region and beyond. Meir Dagan, former head of Israel’s external intelligence agency was warned numerous times that an Israeli attack on Iran would â€Å"ignite a regional war† (p. 76). Also Israel’s concerns over Iran could make a chain of defensive outcomes that could get out of control in a way that†¦show more content†¦The terrorists and radicals in Lebanon, the Palestinian territories, Bosnia, the Philippines, and elsewhere have been backed by Iran. Even today the support remains strong: the U.S. government is sure that Iran is tied to a large number of radical groups in Iraq. Although Iran has been supportive of terrorism for the past 25 years and it has control of chemical weapons for over 15 years, Tehran has not transported â€Å"unconventional systems† to terrorists. Iran is more than likely to proceed with their restraint and not transfer chemical, biological, and or nuclear weapons. Providing terrorists with such weapons gives Iran few advantages. These terrorist organizations are still able to operate effectively with their already existing methods and weapons (Byman, 2008). Politics of terrorism with Iran Israel Iran’s hostile history towards Israel has been one of the most on going and confusing aspects of the Middle East conflict. Since the beginning of the Islamic Republic, Iran’s politicians have accused Israel and questioned their legality, and their right to exist. Iran has never fought a war with Israel and has no land disputes (Takeyh, n.d.). Although Israel and Iran under the shah, which is a title given to the emperors and kings of Iran, have had a decently good relationship between 1953 and 1979, Iran’s hostility towards Israel can be thought back to â€Å"Khomeini† who was the former leader of Iran from 1979-1989 (Takeyh, n.d.). In his point of view, the most

LSD (lysergic Acid Dyethilamide) Essay Example For Students

LSD (lysergic Acid Dyethilamide) Essay A Swiss chemist named Dr. Albert Hoffman first produced lysergic acid Diethylmide or best known as LSD in 1938 (Dye, 1992, p. 2). Hoffman discovered the drug while trying to synthesize a new drug for the treatment of headaches. He obtained the lysergic acid from the parasitic fungus that grows on rye plants known as ergot. From the lysergic acid, he synthesized the compound LSD. He used the compound to test for its pain killing properties on laboratory animals. Being that appeared totally ineffective, the bottle of LSD was placed on a shelf and remained untouched for five years. On April 16, 1943, Dr. Hoffman decided to do further research with the LSD compound (Dye, 1992 p. 5). While handling the drug, he accidentally ingested an unknown amount. Then he experienced the worlds first LSD trip. About eight hours later Hoffman drifted back into normal reality and the Psychedelic Revolution was born. (Encarta 98) Three days later, in an attempt to prove that the previous episode was inde ed caused by the ingestion of LSD, Dr. Hoffman ingested what he thought would be a small quantity of LSD, 250 micrograms. In actuality, this is approximately five times the dosage necessary to produce heavy hallucinations in the average adult male (Solomon, 1964, p. 34). The drug produced effects that were much more intense than the first time Hoffman took the LSD. He noted that he felt unrest, dizziness, visual disturbances, a tendency to laugh at inappropriate times, and a difficulty in concentration (Dye, 1992, p.7). Dr. Hoffmans condition improved six hours after taking the drug, although visual disturbances and distortion continued. LSD was first shipped to the United States in 1949 (Solomon, 1964 , p. 54). American scientists tested LSD on animals to learn of its effects. It produced dramatic behavior changes in all animals investigated. During the 1950s, experimentation of LSD on humans began (Solomon, 1964, p. 56). Since there were few restrictions on using humans for experi mentation at the time, scientists were free to administer the drug widely, hoping to find some useful therapeutic value for the drug. Because of Hoffmans LSD account of depersonalization produced by the drug. Early studies were done using the drug to treat various psychiatric disorders. It was felt that if a person could step outside themselves and view situations as others saw them, they could come to grips with their problems and be able to solve them. One of the first areas of LSD experimentation was in treating alcoholism (Dye, 1992, p.36). After extensive research, it was concluded that LSD was not effective on treating alcoholism and the research was discontinued. LSD was also tested on schizophrenics, drug addicts and criminals (Dye, 1992 p. 38). Research determined that LSD was ineffective in treating any behavioral problems. It was also concluded that LSD might transform a normal individual into a person with a very calm to severe personality problem. The Central Intelligen ce Agency and various military agencies also became interested in LSD research in the late 1950s (Dye, 1992, p.410.) Their interest in the drug was in the area of mind control. They saw the possibility of manipulating of manipulating the beliefs of strong willed people. They gave the drug to a group of army scientists and then attempted to change some of their basic beliefs while under the influence of the drug. However, one of the scientists became psychotic and committed suicide by jumping from a hotel window. These agencies continued their research by using drug addicts and prostitutes to test their mind control theories. After extensive experimentation, it became apparent that LSD could alter LSD the mind but not control it. The United States government discontinued this sort of research. Up until today, the Food and Drug Administration have never approved LSD. This strong hallucinageous drug remains only as research and medical treatment. LSD belongs to a class of psychotropic drugs called hallucinogens (Gorodetzky, 1992). Other drugs in this category are mescaline (derived from peyote cactus) and psilocybin (commonly known as hallucinogenic mushrooms). LSD is most commonly taken orally but may also be taken by injection, inhalation, or by absorption through the skin. When it is taken orally, the individual usually notices the effect of the drug within thirty minutes. It may take one hour before the user experiences the drugs maximum effects. This state usually lasts two to four hours. The usual dose taken is fifty to one hundred micrograms, although much higher and lower doses have been ingested. The intensity of the hallucinatory experience depends on the dose taken. The psychological, perpetual, and behavioral effects of LSD persists for eight to twelve hours and gradually wears off after reaching their maximum effects (Gorodetzky, 1992). The effect of the drug is determined by a persons mental state, the structur e of their personality, and the physical setting. The role of culture and belief systems is primary in the effects of hallucinogenic states. The experience following the ingestion of LSD is called a trip and can be good or bad depending on its effect on the user. The physiological effects may vary. Depersonalization is a frequent psychological effect of LSD (Solomon, 1964, p. 157). A persons self seems to be divided into two parts: an uninvolved observer and a participating involved self. The uninvolved self is sometimes seen as an unidentified person that the user later recognizes as his or her self. The user is frequently unable to distinguish where their body ends and the environment begins. Another effect of LSD is derealization. Derealization is a dreamlike state in which the individual cannot tell if they are experiencing reality or dreaming (Solomon, 1964, p.159). A person under the influence of LSD may misjudge the size and distance of objects. The shapes of objects are also distorted and constantly changing. Objects that do not exist may also change in form and color. These objects can often be seen when the user s eyes are closed because the image is produced within the mind. Colors also appear to be brighter and more intense than normal. Synesthesia, which refers to the mixing of the senses, is another effect of LSD (Solomon, 1964, p. 164). During synthesia, experiences normally associated with one sense are translated to another. For example, sounds may be seen and colors may be smelled. LSD also often distorts time. The user may be unable to separate events from the past, present, and future. A lack of concentration and impairment in judgment are also common. An individual on LSD may remain completely motionless for long periods of time or hyperactive. LSD can also produce rapid mood changes. Another group of LSD induced effects are referred to as somatic symptoms (Solomon, 1964, p. 171). These symptoms include dizziness, weakness, tremors, blurre d vision, and tingling sensation of the skin. It is still not fully known how LSD works on the brain. In addition to the psychological effects of LSD, the drug produces many physiological effects as well. LSD dilates the pupils of the eyes. It can also cause blurred vision, and increases blood pressure, heart rate, and body temperature. The drug also increases blood sugar, can produce sweating and chills headaches, nausea, and vomiting. There are also changes in the muscles, resulting in weakness, tremors, numbness, and twitching. Abnormal, rapid breathing may occur. ( Dye, 1992, p. 122)LSD users experience some kind of flashbacks after taking the drug. A flashback is a spontaneous recurrence of certain aspects of an LSD related hallucinatory experience (Gorodetzky, 1992). If a flashback occurs after only one exposure to LSD, the initial trip was most likely a bad one. Flashbacks can occur at any time, but are more likely to occur while sleeping, while under the influence of other i ntoxicants, or while a person is in the presence of someone under the influence of LSD. Flashbacks have been known to cause psychotic and suicide reactions have been recorded as insanity. Bermuda Triangle EssayThe use of LSD continued to increase during the late 1960s and 1970s, due to the publicity by Timothy Leary and the social upheaval that took place in the United States at that time. The use of LSD peaked in the early 1970s and then began to steadily decline (Dye, 1992, p. 120). Dye attributes this to three factors: the increasing number of bad trips reported, speculation of LSD related chromosomal damage, and other drugs such as mescaline and psilocybin becoming more prevalent. By the late 1970s, LSD use had declined even further as many drug users turned to marijuana, PCP, cocaine, heroin, and inhalants (Dye, 1992, p. 128). While these drugs are still in widespread use, a resurgence of LSD use has been seen in recent years (Corcoran, 1987, p.1A). The 1987 National Household Survey of Drug Abuse stated that three percent of students between the ages of twelve and seventeen had experimented with one or more hallucinogens, fourteen percent of young adults ages eighteen to twenty-five and seven percent of adults twenty-six and over had tried hallucinogens at least once. (Mendelson,94) LSD enables me to open my mind, and stimulates my creativity. It helps me to think clearly and helps my writing. LSD helps me to be myself, said a sixteen-year-old LSD user. Does LSD enhance the mind or deteriorate it? This is not fully known. Since LSDs effects on the brain have not been fully determined, an accurate conclusion about the drug cannot be made. It has been established that LSD can cause toxic reactions and even death due to the unpredictability of the drug. Is damaging yourself justification for mind expansion? For some it is. Will we ever know how dangerous a drug LSD is? With further scientific research still taking place, this question will soon be answered. Category: Science

The 2008 Financial Crisis

The housing and monetary policies are the key causes of the 2008 economic crisis. Two main mortgage firms, the Fannie Mae and Freddie Mac Corporation eased the credit requirements on loans it purchased from lending institutions. In September 2008, the two giant mortgage companies faced the danger of bankruptcy as they had guaranteed close to half of the total mortgages in the US.Advertising We will write a custom essay sample on The 2008 Financial Crisis specifically for you for only $16.05 $11/page Learn More The Clinton administration came up with the idea of making poor citizens and low-income consumers own homes. As a result, banks were under pressure to lend to minorities and low-income consumers who even had no security for the loans (White par. 1). Notably, some of the borrowers who accessed the sub-prime loans had poor credit ratings, did not make down payments for homes, and had no verifiable assets. So misguided were the housing policies that u nqualified borrowers could access mortgages with the support of the federal government.  After the banks and other lending institutions had loaned the low-income earners, the prices of houses peaked and turned down completely. At this point, borrowers who had inadequate capital compared to their debt started to default the repayment of mortgages (FRONTLINE). Notably, these categories of borrowers were propelled to borrow with the hope of increased prices of houses in the future to repay the mortgages or sell their properties at high prices. This was not to be as prices of essential products went down too. The occurrence led to rise in the number of defaulters on nonprime-mortgages. The increased numbers of toxic mortgages made investment banks lose trillion of dollars. The rest of the Wall Street felt the effect with Federal Reserve Chairman Ben Bernanke making critical moves to salvage the Bear Stearns Investment Bank, which had remained the subject of rumours that it would be fa lling soon. Bear Stearns’s stock had slumped to a low of $57 from $171 thus making it clear that something had to be done to contain the situation. The then Treasury Secretary Henry Paulson had to try out different approaches to rescue the entire financial market from the crisis. At one instance, he persuaded the federal government to provide the Treasury with $700 billion for buying the high-risk mortgage securities. Rumours in the financial market are fears that market players have towards operations of a firm. For instance, market manipulators and short sellers can spread false information about the nature and operations of a company. The financial market deals in monetary issues and some of the institutions include Bear Stearns Bank, AIG Insurance Company, Lehman Brothers and Fannie Mae Corporation.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Bear’s chief executive, Al an Schwartz blamed falsehood on the loss of liquidity of $10 billion in one working day (â€Å"Bank Chief Blames Rumours for Bear’s Collapse† par. 4). This happened as customers, trading partners, and investors fled after listening to rumours and market manipulation from competitors. However, JP Morgan Bank salvaged Bear from collapsing after the Federal Reserve accepted to stand behind the institution with $30 billion of public funds. So intense was the crisis that the failure of Bear almost led to the collapse of the entire financial market. Clearly, from the occurrence of the 2008 financial crisis, rumours can be detrimental especially if they are false. Moral hazard is a situation where a party to a deal becomes dishonest as per the terms and conditions of the deal. In the case of assisting Bear not to go out of business, JP Morgan had a deal with Bear to buy the institution at $2 per share; however, mass outrage from shareholders made the firm raise the price to $ 10 per share. The initial price of $2 per share was meant to avoid scenarios of rewarding investors in a failed business. The principle prevents a situation where firms, which have been responsible for their downfall, receive financial support from the federal government. On the other hand, systematic risk entails the fall of an entire market. The fall of Bear Sterns followed by the collapse of the giant mortgage firms of Fannie Mae and Freddie Mac Corporation and finally Lehman Brothers Investment Bank, represents a clear example of systematic risk in the entire financial market (Moseley par. 8). Critics argue that moral hazard promotes systematic risk as it can encourage other firms to engage in malpractices with the aim of receiving aid from the Federal Reserve.  The 2008 financial crisis made policy makers alter their opinions on free trade. Firstly, they agreed that the rules of the World Trade Organization (WTO) are inadequate to the current dynamic and global economy. As a result, policy makers in both government and private institutions prefer regional free trade agreements as a way of making up for rules that have been missing in the multilateral trade option. With the Doha negotiation in force, multilateral trading system is losing its relevance in the international trade (United Nations). The financial crisis revealed that the state of overdependence on one nation by developing nations is extremely dangerous for the current global, dynamic, and unpredictable economy.Advertising We will write a custom essay sample on The 2008 Financial Crisis specifically for you for only $16.05 $11/page Learn More Works Cited Bank Chief Blames Rumours for Bear’s Collapse. Mailguardian. Mail Guardian Online, 6 Apr. 2008. Web. Frontline. † Inside The Meltdown.† PBS: Public Broadcasting Service. WGBH Educational Foundation, 8 Feb. 2009. Web. Moseley, Fred. â€Å"The U.S. economic crisis: Causes and solutions.† International Socialist Review – ISSUE 81 January-February 2012. International Socialist Organization, 8 Apr. 2009. Web. United Nations. â€Å"International Trade After the Economic Crisis: Challenges and New Opportunities.† United Nations Conference on Trade and Development. UNCTAD, 5 Aug. 2010. Web. White, Lawrence H. â€Å"Housing Finance and the 2008 Financial Crisis | Downsizing the Federal Government.† Downsizing the Federal Government. Cato Institute, 5 Aug. 2009. Web. This essay on The 2008 Financial Crisis was written and submitted by user Qu1nt1n to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here. The 2008 Financial Crisis

Stress and Anxiety Essay

Stress and Anxiety Essay Stress and Anxiety Essay Final Project I believe that I understand what self-regulation means and how it relates to my life. Self- regulation is the ability to monitor and regulate our own behaviors, cognitions and emotions (Self-Regulation 185). Self-regulation impacts everyone because is the key to becoming a successful student and person. Self-regulation helps in our daily decisions and long-term and short-term goals. Without self-regulation people usually make poor choices when it comes to health, work, school and relationships. During this semester I have be working on my self-regulation. Because this class I did not really think about self-regulation. This I had to really sit and think about what went wrong for me last semester. I think that last semester I was trying to figure out how to juggle living on my own and school. I was so use to my parents doing everything for me that when I got to college it opened my eyes. I had to realize that my parents are not going to be there to help me with my proble ms. I have to have the will and motivation to become the best student and person that I can be. That means that I have to balance between delayed and immediate gratification. I had to set some key routines that will help me balance my life. Key routines are those five or six behaviors that will keep me from chaos and move me toward mastery. I had to make a plan so that I know what I need to each day. Another thing that I have to work on is procrastination because I always wait to the last second to do something. Before I took this course I did not really understand why I and other students procrastinate. But in fact procrastination is a common problem that most students in college encounter during their college years. Most students get caught up in with all the drama that comes with living on campus. Last semester I had a lot of trouble when it came to procrastination but I was not thinking about when my homework was due. All I was thinking about is when the next party was and play ing video games with my friends. Also I was so use to my mom telling me to do my homework. Since my mom wasn’t here to tell me to do it I choose to do something else. Usually I would watch television or be on Facebook and Twitter. This I think that I have gotten a lot better at not waiting to the last second to do my homework. I think that I’m less stressful now then I was last semester. Because now I know what I need to do to get my GPA up. I also think that I did not have the will and motivation last semester to be successful in college. I was just glad to be on my own and not having anyone there to tell me what to do. But now that this semester is almost over I have realized that I have become more active in my studies. I have set rules for me to follow that will keep me on track to becoming a successful person. I also make sure when I’m studying I put everything that I know will distract me out of site. I either go to the library of to the top of Adams tower which is the twelve floor. Where I can get piece quiz and away from all the loud people on my floor. Because with all the loud noise that goes on every day on my floor it makes it kind of hard to study. So I end up getting very stressed out and I start having anxiety attack. Anxiety is a feeling of worry, nervousness or unease, typically about an imminent event or something with an uncertain outcome. In other words, anxiety is the emotional response to the pressure of stress (315). Some anxiety keeps us alert and productive, but too much anxiety, especially over an extended period of time, can ruin your physical health, our ability to concentrate and create, and your relationships (315). I would get really stressed out and have really bad anxiety attacks. But now I have learned had to control it. When I feel that I’m about to have anxiety

Cross Cultural Communication Essay Example | Topics and Well Written Essays - 2250 words

Cross Cultural Communication - Essay Example Part 1 International Journal of Cross Cultural Management (IJCCM) In managing of the global conflict resolution, attention should be given to cross cultural factors. Whereas the value of culture in managerial behavior has long been acknowledged, intellects of political science are still coming to terms with the perception and its repercussions. Conventional approaches to disagreement stress the dominance of the state while overlooking several the distinctive internal features, which vary between nations. Foulkes & Bercovitch view culture indeed has a weighty outcome on how nations view the world, conduct themselves in it, and handle their conflicts. Culture has become crucial in the existing environment, where largely conflict occurs frequently between factions, alienated along cultural lines, within a nation. Evaluation of the relevance of ideas, and cultural differences does undeniably have a substantial impact on arbitration and conflict resolution. The journal also elaborates the effects of effective communication and motivation in a cross-cultural environment. European Journal of Cross-Cultural Competence and Management (EJCCM) This journal explains the extensive field of cross-cultural examination with an allusion to an organization in practice. The chief purpose is the establishment of a podium for the debate on cultural matters in current industry across several disciplines and cultures. In the spirit of its founding organization, EJCCM influences contributions from dissimilar fields of science involved in the interrelations and relations amid culture. The journal encourages papers about the dynamics of cross-cultural interactions in Europe. Key challenges Building of trust between employees and management of an organization is very important. Group members should be capable to rely on each other’s words and work as a team. Trust is a considerable challenge in cross-cultural groups, as people only tend to trust those from their nations and the sa me culture (Thomas, & Thomas, 2008, 134). Trust building is beneficial if the team leader and team members working together at a similar location for a long time, despite diverse nationalities (Steers, Sa?nchez-R, & Nardon, 2010, 213). Managing of people from different nationalities has different convictions and perceptions. This diversity makes it a challenge to manage them especially when a conflict occurs. Bosses need to apply different leadership styles in dealing with conflict (Velo, 2012, 40). Managing of language and cultural issues is another challenge. In any conflict resolution, communication is inevitable. In managing of a cross-cultural conflict, where different people speak various languages, it is essential for individuals to appreciate one another (Velo, 2012, 40). Synchronizing the languages and cultural aspects to enable people have a common ground remains a challenge (Thomas, & Thomas, 2008, 134). As a team leader, working with members from different cultures has b een a vast experience. Every step in the team was a learning experience. The group taught us that diversity is strength. The tasks assigned to us went well as we were able to respect each other’s opinions to find a common ground. We remained objective during the entire session focusing on the group’s mandate and not personal mandate. From a management point of view, we learnt tolerance, empathy and respect. Since we are from different backgrounds, there was a need for

The business plan of Super Stars sports facility Essay

The business plan of Super Stars sports facility - Essay Example This paper discusses that Super Stars will be a sports organization which will be focused on enhancing and inculcating sports values among the community members in Bradford city in the United Kingdom. Currently, there are very few multi-sports facilities in Bradford and hence the company hopes to fill this gap. The kind of sporting activities that will be trained includes swimming, skiing, skate boarding, athletics, rugby, golfing, gymnastics, football and hockey. The organizations planned keys to success involves putting the customers wants first and working hard towards satisfying them. The organization will also use appropriate marketing facilities for its services, creating a conducive environment for its operations, purchase quality sports equipments and hiring qualified staffs to assist in the management of the activities. The Super Stars sports facility hopes to target people who have the passion for getting physically fit. It will provide all the necessary facilities that are required in order for people to exercise and attain maximum satisfaction. The members will be both adults and the children and it involves both genders. The sports facility will be a member’s only facility. The membership will be divided into a adult membership, students membership and junior membership. The juniors include children between the age of 5 and 14 years. The adults are those above the age of 14. The membership fee for the junior plan will be 40 pounds plus a 240 pounds annual subscription fee. The adults’ membership fee shall be 50 pounds plus an annual subscription fee of 360 pounds. ... However, students will be granted a fee waiver to encourage them to engage in sporting activities which include a 45 pounds membership fee plus a 300 pounds annual subscription fee. At the beginning of its operations, Super Stars sporting organization will use funds from the government and community contributions to finance its operations. The government has advanced 9,000,000 pounds towards the setting up of the facility. It hopes that the community will contribute 2,000,000 pounds. These funds will be used to purchase the necessary equipments, setting up the entire business, hiring trainers, and maintenance of the facility and equipments. The organization hopes to achieve 52, 000 pounds at the end of the first financial year. By the end of five years the facility hopes that the profits will have increased to around 250,000 pounds per year. Vision Statement The vision statement is a description of the picture of the organization in the long term or in the middle term. It is a clear picture of the organization that describes its desired outcome that seeks to energize, inspire, influence, and enables one to have a mental picture of what the organization hopes to attain( shank, 2005,p.75). It represents a framework for an individual’s comprehensive strategic planning and refers to the inspiration of the organization. It involves the articulation of the organizations dreams and hopes. It helps the organization in making a choice between the current and the future courses of action. It puts together the goals and objectives of the organization. In connection to sporting activities, the vision statement is set so as to provide it with a blueprint for success and set a foundation for what the long term goal is (Elitesportleader, 2012, p. 1). An effective vision