The Problem Of The Subprime Crisis - 855 Words

Currently, we are recovering from one of the worst recessions the United States and the world economies have ever seen. Known as The Great Recession, the period of falling employment, spending, saving and rising interest rates, officially lasted from December 2007 - June of 2009. However, the effects were felt severely numerous years after, and are still being resolved and learned from today. Normally, the housing sector of the United States market leads the economy out of a recession, being one of the few forms of spending almost exclusively domestic. Also, housing leads to a spur of other jobs including raw material distribution, construction, contracting, and real estate. The subprime mortgage crisis is argued to be the cause of the Great Recession and one of the main inhibitors of finding a solution quickly. What caused the subprime crisis, and why was it so detrimental even on a world scale? There are many hypotheses, some are proven through economic law and some are ideas based off of human nature. The Subprime Crisis is known as the fall of the housing market resulting in a record number of foreclosures and families declaring bankruptcy. This was a direct result of banks being able to produce money too quickly. Due to an influx of loans and high-interest rates, banks were able to create enough money for mortgage loans for people with weak credit, a subprime mortgage. If interest rates remained at the current price and the value of the housing market remained high,Show MoreRelatedFinancial Crisis And Its Effects On The World Economy1467 Words   |  6 Pagesfaced with a major financial meltdown with global market failures and economies in shambles. The emergence of subprime mortgages and the collapse of securitized derivatives led to much speculation of different causes. What was the root factor that led to the triggering of this financial crisis? This research conducts a comparative analysis of my research and beliefs on the cause of the crisis contrary to other researchers’ conclusions. It is an aim to provide my hypothesis on the leading factors andRead MoreFraud, Subprime Mortgages, And The Hidden History Of Financial Crisis Essay1573 Words   |  7 PagesFraud, Subprime Mortgages, and The Hidden History of Financial Crisis â€Å"Hell is empty, and all the devils are here.† -William Shakespeare (The Tempest, Act1, Sn 2) Financial and economic experts still disagree over the specifics of what caused the recession of 2008. The fraudulent activities which resulted from the subprime mortgage crisisRead MoreDeregulation Is The Underlying Cause Of The 2007 / 08 Financial Crisis1382 Words   |  6 PagesFinancial crisis in 2007-2008 brought the massive hurt to everyone in the world. The worldwide financial problem affected thirty million people loosing their jobs and cause many countries getting close to go bankrupt (Peah, 2014). This is the global issue that everyone should be consider of. The purpose of this essay is to determine if the deregulation was the underlying cause of the 2007/08 financial crisis. The essay argues the deregulation was the underlying cause of the 2007/08 financial crisis in theRead MoreThe Global Financial Crisis And The Crisis Essay1244 Words   |  5 PagesFinancial Crisis, also known as The Great Recession, broke out in the United States of America in the middle of 2007 and continued on until 2008. There were many factors that contributed to the cause of The Global Financial Crisis and many effects that emerged, because the impact it had on the financial system. The Global Financial Crisis started because of house market crash in 2007. There were many factors that contributed to the housing market crash in 2007. These factors included: subprime mortgagesRead MoreThe Problem Of Global Financial Crisis1122 Words   |  5 Pagesrelated securities.† â€Å"Securitization first emerged in the 1970s with the sale of securities backed by residential mortIn the 21st century, economic problems have incurred an increasing number of people s attention as the economic develop rapidly, and these problems are usually caused by human themselves. For instance, the occurrence of Global Financial Crisis (GFC) in 2007 was induced by people themselves who expect that the economic level could be constantly maintained in the impractically high positionRead MoreSubpr ime and Adjustable Mortgages1156 Words   |  5 PagesSometimes, when people buy a home for first time, they usually get subprime mortgage rates. Lenders grant these types of rates are to borrowers whom their credit history is not sufficient to get a typical mortgage. Sometimes, these borrowers have bad or even insufficient credit history. Subprime mortgages regularly offer loans that are interest only. These loans, that are â€Å"interest-only,† are easier for buyers to afford. When you get one of these loans, the lender does not require you to pay anyRead MoreFinancial Management And Financial Crisis1404 Words   |  6 PagesSince the financial crisis is the value of financial institutions or assets in one country or several countries drops rapidly, and it can affect the stability and development of the relevant country or region even the world economic. The causes of this situation should be well studied to prevent the recurrence. This essay is discuss if the financial crisis that was globally experienced following events in 2008 is an example which can prove the financial engineering and corporate governance goneRead MoreThe Mortgage Crisi- Cause and Effect1167 Words   |  5 PagesThe 21st Century Mortgage Crisis ENGL106 January 22, 2011 Abstract The 21st century mortgage crisis is certainly a key factor to the current financial catastrophe. There are multiple events that contributed to the downward spiral of the mortgage business. The crisis can be directly linked to the overzealous dreams of home ownership to the manipulation and failure of capitalism. What started out as mortgage bankers’ relaxed and deregulated approach to funding unqualified lenders has turnedRead MoreFinancial Crises And Its Effects On Global Economic Crisis1068 Words   |  5 PagesThe 2007-2008 Financial Crisis- Its Causes and the Involvement of the FED The financial crises that occurred in 2007-2008 had such a big impact on the world that it is now considered a global financial crisis (GFC) or global economic crisis. It is commonly believed that it began in July 2007 with the credit crunch; U.S. investors lost trust in the value of subprime mortgages which caused a liquidity crisis. This had the effect that the U.S. Federal Bank injected a large amount of capital into theRead MoreThe Subprime Mortgage Crisis in the U.S Essay1586 Words   |  7 PagesThe argument over who should be at fault for the subprime mortgage crisis and housing market collapse in the United States has been a heated debate. Even though home foreclosure keeps rising, there should be some accountability for the economic meltdown resulting from the subprime mortgage situation. Should we blame banking institutions, mortgage lenders, brokers, and investors for this crisis? Should minorities be blamed for recklessly accepting loans and defaulting on them after rea lizing they

The Advantages of Public Shame in the Scarlet Letter Essay

Benjamin Lewis American Lit/AP Comp Lit Heidkamp 2 December 2010 The Advantages of Public Shame in The Scarlet Letter Imagine a world in which everyone believes it is in their best interest to suppress their feelings. Most people in the modern world would undoubtedly find this prospect awful and depressing. After all, our phenomenon of instantaneous communication was conceived with the belief that humans desperately want and need to share their emotions and ideas. The widespread popularity of Twitter, Facebook, and other social networking websites seem to affirm this assumption. If one was to compare the Puritan setting of Nathaniel Hawthorne’s The Scarlet Letter with this hypothetical world, they would soon realize the two†¦show more content†¦Dimmesdale is virtually bound for ruin. Hester Prynne’s ability to sustain her stability and strength of spirit is the express result of her public guilt and penance. She was Arthur Dimmesdale’s partner in adultery, but she is used by Hawthorne as a complete foil to his situat ion. Unlike Dimmesdale, Hester is both strong and honest. Walking out of prison at the beginning of the novel, she decides that she must â€Å"sustain and carry† her burden forward â€Å"by the ordinary resources of her nature, or sink with it. She could no longer borrow from the future to help her through the present grief† (54). Hester openly acknowledges her sin to the public, and always wears her scarlet letter A. In the forest scene, she explains to Dimmesdale that she has been truthful in all things except in revealing his part in her pregnancy. â€Å"A lie is never good, even though death threaten on the other side† (133). Even Dimmesdale himself realizes that Hester’s situation is much healthier than his own when he states, â€Å"It must needs be better for the sufferer to be free to show his pain, as this poor woman Hester is, than to cover it all up in his heart† (92-93). This life of public shame and repentance, although bitter, lonely, and difficult, helps Hester retain her true identity while Dimmesdale seems to be losing his. The final scaffold scene, in which DimmesdaleShow MoreRelatedFeminism in the Scarlet Letter1297 Words   |  6 Pagesto establish the whole relation between man and woman on a surer ground of mutual happiness† (ch.24).The definition of feminism would be women are inherently equal to men and deserve equal rights and opportunities. In Nathaniel Hawthorne’s, The Scarlet Letter, Hester Prynne is the key example for feminism in the novel. In Puritan times, women were thought of as lesser than men. Women’s purposes were to raise children and give them good morals and values. Women did not have jobs; they wore the plainestRead MoreSymbolism From The Scarlet Letter867 Words   |  4 PagesEmalee McCracken Mrs. Voshell Honors English 10 21 December 2016 Symbolism in The Scarlet Letter There are many forms of symbolism found in The Scarlet Letter. Hawthorne, the author uses his many forms of symbolism to project a lesson or moral created throughout the story. Even each of the main characters has a different moral representation. Guilt, repentance, purity, and strength each are shown through the eyes of a different character. Pear, Hester Prynne, Chillingworth, and Reverend DimmesdaleRead MoreThe Scarlet Letter By Nathaniel Hawthorne1153 Words   |  5 Pages i. 1. The Scarlet Letter, written by Nathaniel Hawthorne, is a romantic novel that takes place in sixteenth century Boston, Massachusetts. 2. As a romantic novel, it focuses on the various relationships between the characters and the drastic experiences caused by the scarlet letter between the four main characters being Hester Prynne, Arthur Dimmesdale, Roger Chillingsworth, and Pearl Prynne, with the condemnation of the Puritan society 3. The unknown narrator follows the novel’s main antagonistRead MoreShame And The Consequences Of The Scarlet Letter Essay1702 Words   |  7 Pagesinternal portrayals of shame and the consequences of both, by using the characters of Hester Prynne and the Reverend Arthur Dimmesdale. By examining Hester and Dimmesdale’s way of dealing with the repercussions of their indiscretion and analyzing Benjamin Kilborne’s critique Shame Conflicts and Tragedies in The Scarlet Letter, one can see if, or by what measure, if either Hester’s or Dimmesdale’s shame is worse than the other. I believe Dimmesdale’s internal battle with his shame is far worse than Hester’sRead MoreLetter Essay : The Scarlet Letter, By Nathaniel Hawthorne820 Words   |  4 PagesCecilia Wang English 11 10/30/2017 Scarlet Letter Essay Scarlet Letter Essay Set in Boston, Massachusetts, a Puritan society, the Scarlet Letter by Nathaniel Hawthorne, is a story about a love triangle between a young woman, who is condemned for adultery and wears a letter â€Å"A† on her bosom, a well respectable clergyman and an old physician who lives with the clergyman as a friend and sucks his soul bit by bit. Initially, Dimmesdale, the clergyman, struggles to live with his sin and this agonizedRead MoreThe Scaffold in Nathaniel Hawthrone ´s The Scarlet Letter 789 Words   |  3 Pages The symbol of the scaffold evolves in The Scarlet Letter by Nathaniel Hawthorne. In Nathaniel Hawthorne’s novel The Scarlet letter is build around the symbolic scaffold. The main characters transform the scaffold from the exposition to resolution. Next the traits of the scaffold itself deteriorate throughout the novel. Finally, the scaffold is applied symbolically throughout Hawthorne’s novel. The scaffold transforms throughout the book because they are there for different reasons. In the beginningRead MorePublic Shaming In Hawthornes The Price Of Shame By Nathaniel Hawthorne1092 Words   |  5 Pageswhole life and reputation. Public shaming is the act of mocking someone for committing a sin or doing something wrong, but now people shame others online with no motive behind it as an act of hate or disagreement. The impact of getting shamed publicly is very harsh and negative. The three sources related to this topic are The Scarlet Letter by Nathaniel Hawthorne, â€Å"The Price of Shame† by Monica Lewinsky, and â€Å"Is the internet a mob without consequence?† by Nick Bilton. Public Shaming has been aroundRead MoreEssay about The Scarlet Letter Critical Analysis1251 Words   |  6 PagesThe Scarlet Letter Critical Analysis Nathaniel Hawthorne was born in 1804 in Salem, Massachusetts, the direct descendant of John Hawthorne, and a judge at the infamous Salemwitchcraft trials. The guilt that Hawthorne felt over the actions of his ancestor had an enormous impact on his writings. In his introduction of The Scarlet Letter, Hawthorne accepts the guilt from his forefathers and offers to repent for their crimes (Waggoner, 5). This unusual way of viewingRead MoreAnalysis Of Nathaniel Hawthorne s The Scarlet Letter 1606 Words   |  7 PagesSin in the The Scarlet Letter The story of The Scarlet Letter by Nathaniel Hawthorne is one with many twists and turns. A young woman moves to Boston, Massachusetts while her husband takes care of affairs in England. After two years pass she secretly has an affair with the Reverend Arthur Dimmesdale. When she becomes pregnant and gives birth to her daughter Pearl, the town punishes her for committing the act of adultery. She is sentenced to stand on the town scaffold for public embarrassment andRead MoreHester As A Heroine, By Nathaniel Hawthorne1513 Words   |  7 Pagescruelty of the townspeople and the shame they place on Hester. Hawthornes message is that a mind free from guilt can overcome any obstacles, while those who hide in the shadows with their guilt condemns to gods fate/judgment. This is shown when Dimmesdale kept his sin from the public and later on could not handle it anymore which drove him to his death, since Hester had already revealed her sin she didnt have anything to hide, she even wore th e Scarlet letter with grace and elegance. Historically

Performance Management Systems Free Essays

Performance Management System Sparrow and Hiltrop (1994) suggest that â€Å"performance management is essentially a strategic management technique that links business objectives and strategies to individual goals, actions, performance appraisal and rewards through a defined process. † They also believe that â€Å"the most important feature of an effective performance management system is its ability to be seen as a method of continuously securing improvement’s in the performance of teams and individuals against pre-defined business strategies and objectives. From reading through the quotes of Sparrow and Hiltrop I understand performance management to be a system which identifies the strengths and weaknesses of individuals or teams of employees. We will write a custom essay sample on Performance Management Systems or any similar topic only for you Order Now From then speaking to the employees in a formal manner, in which you are praising them for their achievements throughout the year i. e. promotion, raise or a company car, but also explaining to them where they could improve themselves to be motivated in following the objectives and strategic plans of the company. Job performance within management performance reveals several terms that are often used interchangeably, such as performance appraisal, performance assessment, performance evaluation and job appraisal. However, in general terms, they are regularly all concerned with measuring an individual’s performance in a given job against preset work standards and involve designing a formal system to facilitate observation, monitoring, analysis, feedback and target setting. Since of late I have had my own performance appraisal done in my part time job in a large fast food restaurant I will be constructing my essay around performance appraisal. In my essay I will be looking at how performance appraisals help improve motivation within the work force, I will explain how the system operates currently, provide evidence that base criticism of the system, and suggest practical and implementable improvements. History Its roots started in the early 20th century; it can be linked to Taylor’s scientific management theory. Taylor thought that workers should be paid and rewarded by meeting specific work targets. If the workers met these targets, he would then pay his workers fairly for the tasks and goals met. He would also give regular feedback to his workers. This point ties in with performance appraisal, by Taylor rewarding and giving feedback to his workers he was demonstrating how if workers did well they would be rewarded for their efforts. Also by giving his workers feedback he was showing how the task could be better or to the correct standard. Taylor also believed that workers should be trained and developed, which is also relevant to today’s role of performance appraisal. However Taylor assumed the way of thinking like an autocratic manager, where he thought workers where only motivated by money. But as performance appraisal has expanded and grown with time, it has seen that workers are not just motivated by money. Performance appraisals started out as being a simple method of income justification. Appraisals were used to decide whether or not the salary or wage of an individual employee was justified. If the employee’s performance was found to be unsatisfactory then the employees’ wages would be cut. However, on the other hand if the employees work was found to exceed the manager’s expectations, then the employee would find him/herself with a pay rise. Very little consideration was given to developing the employees’ skills and talents in the work place. It was seen that a cut or rise in pay was good enough for the employee to work harder or keep working hard. More often or not this system failed. Motivational research showed that workers with evenly the same work abilities could be paid the same but one individual’s motivational principles could be completely different to someone else’s. Pay rates are important to workers but it is not the only characteristic that influences an employee’s performance. By the research discovered once employee’s where financially safe workers would then look for morale and self-esteem to motivate them. I associate this research finding with Maslow’s hierarchy of needs. Once a worker knows that they are physiologically safe, they then start to move up the pyramid, they would realize that money does not influence them to be motivated to work hard at work anymore. Instead they will look to be socially accepted in the company and that their hard work is valued and recognized within the company. When a worker has been with a company after a length of time and has been rewarded with rises in pay, they will then look to getting promotions and move higher up in the company. Present Appraisals Once managers recognized that workers were not motivated by money anymore, they realized things had to change. So in today’s working environment, there can be five key steps to setting up a performance appraisal. * Develop an appraisal form. * Identify performance measures. * Set guidelines for feedback. Create disciplinary and termination procedures. * Set an appraisal schedule. Developing an appraisal form Appraisals should be done justly, consistently and accurately to protect the employees’ interests and to protect your company from legal liability. A way to ensure consistency is to use a standard appraisals form for each worker. The form used should focus only on the essential job performance areas. This makes the appraisal more meaningful and relevant and allows the app raiser and the appraised address the issues that matter most. The job performance areas that should be included on the performance appraisal form are job knowledge and skill, quantity of work, quality of work, work habits and attitude to others and communication skills. In each area, the appraiser should have a range of descriptors to choose from i. e. very bad, bad, good, very good and excellent. Depending on how specific the descriptors are, it is often important that the appraiser also have extra space included on the form to provide their thoughts behind his or her rating. Identifying performance measures Identifying and developing performance measures can be one of the more time-consuming parts of creating a performance appraisal system however; it is one of the most powerful. Standard performance measures objectively measures some of the more subjective job performance areas, such as work habits. The appraiser can establish an objective measure for attendance by defining the acceptable number of times an employee can be late for work or absent during a certain time frame. Standard performance measures don’t always work for other subjective areas, such as attitude. In these cases, it’s still important to be as objective as possible in your appraisal. Don’t attempt to describe attitude, instead, describe the employee’s behavior, which is what expresses the attitude, and the consequences of that behavior for the practice. For example this employee has failed to support his/her co-workers. When another member of his/her department is absent, he/she refuses to take on the additional tasks required to process patients in a timely manner. This behavior causes patient backlog, places a burden on staff and compromises effective teamwork. Managers should work with their employees in each position to gather quantitative data, examine historical patterns of volume and determine qualitative measurements that reflect the company’s mission and goals. Setting guidelines for feedback Feedback is what performance appraisals are all about. So before human resource management, implement the performance appraisal system, make sure that all the managers that will be conducting appraisals knows what kind of feedback to give, how to give it and how to get it from the employee in return. Many managers make the common error of glossing over an employee’s deficiencies and focusing only on his/her strengths. It is by explaining their weaknesses that employees can take ownership of their performance and role in the practice. And when given the support they need to make improvements in these areas, employees learn to take pride in their work and are willing to take on new tasks with confidence. After the appraiser has discussed the results of the appraisal with the employee, the appraiser should encourage the employee to give some constructive feedback. They should ask the employee whether he/ she agree with their assessment, and/or invite suggestions for improvement. In my appraisal, I was told that I was doing a good job but also where I could improve. The company is also thinking of sending me on a one day course to gain some more skills, for me to improve in my job. Creating a disciplinary and termination procedures In some cases, even after a thorough performance appraisal and a discussion of expected improvements, an employee will continue to perform poorly. Human resources need to be prepared to handle such a situation by having well-defined, written disciplinary and termination procedures in place. These procedures should outline the actions that will be taken when performance worsens. In most cases companies will firstly proceed with a verbal warning. If the employee still performs badly a written warning is then issued. If there is no improvement or a recurrence, then termination is the situation if not ultimately resolved. Setting an appraisal schedule Once human resource management has built their performance appraisal system – the appraisal form, the performance measures, the feedback guidelines and the disciplinary procedures – they just need to decide when to conduct the performance appraisals. Some practices do all employee appraisals at the same time of year, while others conduct them within 30 days of each employee’s anniversary of employment. In my opinion the latter may work better since it spreads the work of the appraisals out for employer and employee. Whichever way they decide to schedule the appraisals, they must ensure that each appraiser consistently meets the deadline. Ignoring employees’ overdue appraisal will make them feel devalued and may hurt morale and performance. For me my performance appraisal was a week after my anniversary of starting in the restaurant. This is the easiest way for this company as so many people work there. From my own experience my appraisal was not a formal event. I was told when I came into work that my manager wanted to see me, which made me feel anxious and worried. It was informal and very relaxed. In this instance I would criticize the way the appraisal was held. In researching for this topic performance appraisals should be formal and official. Since I was offered the chance to go one the course, it made me very confident that I was doing a good job. It motivated me to work harder for the company. From working a year in the company people will notice who is doing a good job and who maybe not, especially when the boss is gone. My suggestion would be that employee’s confidentially review their co-workers using the appraisal forms. However this will only work is people are not too nasty and use this against their co-worker. . How to cite Performance Management Systems, Essay examples

Busta Rhymes - Genesis free essay sample

Genesis,released in November, is Busta Rhymes fifth album, and it is definitely abanger. Even though his last CD was a hit, this is, without a doubt, better. Thisalbum was made in less than a year and has 20 tracks. Busta has done it againwith his unbelievable lyrics that he spits out at a Speedy Gonzalesrate. Busta didnt forget about his family, Flipmode, when he made thisalbum and Mary J. Blige, Kelis, Kokane, Jahiem and many others are featured. Genesis already has two singles (Break Ya Neckand As I Come Back) with videos. This CD will definitely goplatinum, it may even go three-times platinum. I recommend it to all who likerap. Genesis has a mad, crazy energy to it. It is without a doubtBustas best creation. It still has his speed, which he is well known for, but italso has new unholdable beats. You just need to hear it for yourself. We will write a custom essay sample on Busta Rhymes Genesis or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page So, whatare you doing sitting there? Go to the store and get one before theyre sold out.Go!