Zora Neale Hurston - Celebrating the Culture of Black...

Zora Neale Hurston - Celebrating the Culture of Black Americans In her life and in her writings, Zora Neale Hurston, with the South and its traditions as her backdrop, celebrated the culture of black Americans, Negro love and pride with a feminine perspective that was uncommon and untapped in her time. While Hurston can be considered one of the greats of African-American literature, it’s only recently that interest in her has been revived after decades of neglect (Peacock 335). Sadly, Hurston’s life and Hurston’s writing didn’t receive notoriety until after her death in 1960. Hurston’s upbringing was pivotal in her unique sense of identity and culture. â€Å"Born in 1891, Hurston spent much of her childhood in Eatonville, Florida†Ã¢â‚¬ ¦show more content†¦Hurston eventually left the confines of familiarity of Eatonville, continuing her education in Baltimore, Washington, DC and New York. Hurston earned a high school diploma at Morgan Academy in Baltimore, Maryland. After Morgan, Hurston went on to receive her associates degree from Howard University, the institution she proudly called â€Å"the capstone of Negro education in the world† (Witcover 42). â€Å"Zora funded her education at Howard University by working as a maid and manicurist. Zora’s work as a maid for wealthy Black families in the city and as a manicurist in a Washington D.C. proved to be as educational as Howard University† (Zora Neale Hurston-The School District of Palm Beach County, Florida, Internet). Following her time in Baltimore and Washington DC, Zora went on to New York to obtain her bachelor’s degree in Anthropology at Barnard College studying under Franz Boas. Boas was a German-born scholar who worked against the trend, believing that all races shared the same potential. Boas believed Hurston was an â€Å"exceptionally gifted woman† and encouraged her to study cultural anthropology (Witcover 64). After receiving a bachelor’s degree from Barnard and dropping out of a Ph.D. program at Columbia University, Hurston won a Guggenheim Fellowship to study indigenous religious practices in Jamaica and in Haiti (Boyd 28). This is the place where Zora Neale Hurston wrote her acclaimed novel Their Eyes Were WatchingShow MoreRelatedThe Life of Zora Neale Hurston Essay1284 Words   |  6 Pages Zora Neale Hurston, known as one of the most symbolic African American women during the Harlem Renaissance in the 1930’s. Hurston was known as a non fiction writer, anthropologist and folklorist. Hurston’s literature has served as a big eye opener during the Harlem Renaissance, celebrating black dialect and their traditions. Most of her published stories â€Å"depict relationships among black residents in her native southern Florida, was largely unconcerned with racial injustices† (Bomarito 89). Read MoreThe New Negro of Harlem Essay495 Words   |  2 Pagesthousands of African Americans uprooted from their homes in the South and moved North to the big cities in search of jobs. They left the South because of racial violence and economic discrimination. Their migration was an expression of their changing attitudes toward themselves, and has been described as quot;something like a spiritual emancipation.quot; Many migrants moved to Harlem, a neighborhood on the upper west side of Manhattan. In the 1920s, Harlem became the worlds largest black community; alsoRead MoreFemale Empowerment By Zora Neale Hurston And Their Eyes Were Watching God1874 Words   |  8 PagesFemale Empowerment in Zora Neale Hurston and Their Eyes Were Watching God Their Eyes Were Watching God was a book that presented the world with a new look on writing novels. Zora Neale Hurston’s experience in what she has seen through research was embodies in this novel. She demonstrates what data she has collected and intertwined it into the culture within the novel. While being a folklorist/anthropologist, and inspired by her life experiences, she developed a character who dealt with the issuesRead MorePlum Bun: A Novel With A Moral1448 Words   |  6 PagesJessie Redmon Fausets novel, Plum Bun, is a story of African American self-hatred told through the life of the protagonist, Angela Murray and her family, who are divided by color. Plum Bun was set in the 1920s, which was a time of tremendous change in America in many areas including technology, economics, and civil rights. During that decade, people were moving from farms and rural areas into cities where they began to focus on education in the school systems and civil rights. Cities like New YorkRead MoreThe Negative Impacts of the Harlem Renaissance1169 Words   |  5 Pagesa celebration of Black culture, but rather a regurgitation of White ideals. To these African-Americans, the Harlem Renaissance represented conformity and submission to the White culture. Yet there were also those who were not even given the opportunity to be a part of the Harlem Renaissance. The poor Blacks in the South never received any of the racial tolerance up north. They lived in a world of racism and the Ku Klux Klan. The Harlem Renaissance did not redefine African-American expression. ThisRead More The Negative Impacts of the Harlem Renaissance Essay1132 Words   |  5 Pagesa c elebration of Black culture, but rather a regurgitation of White ideals. To these African-Americans, the Harlem Renaissance represented conformity and submission to the White culture. Yet there were also those who were not even given the opportunity to be a part of the Harlem Renaissance. The poor Blacks in the South never received any of the racial tolerance up north. They lived in a world of racism and the Ku Klux Klan. The Harlem Renaissance did not redefine African-American expression. ThisRead MoreThemes In Zora Neale Hurstons Spunk1845 Words   |  8 Pages Zora Neale Hurston breathes life into â€Å"Spunk† by contrasting African American slang with the formal, educated tone of the narrator to emphasize adversity and express culture in the South. Hurston’s most memorable moments in her childhood were a result of â€Å"Skillful story-tellers [that] could hold their listeners spellbound for hours, with tales that combined elements of African tradition, the hi story of slavery, and current events,† (Bily). Oral storytelling was a news source and form of entertainmentRead MoreExploring African American History : The Harlem Renaissance1521 Words   |  7 PagesTi’Anna Smith Period 1 AP World History 12-14-15 Exploring African American History: The Harlem Renaissance The Harlem Renaissance originally known as the New Negro Movement was an important part of African American culture and history, which helped African Americans express themselves and celebrate their heritage. Between the years of 1890-1920 close to two million African Americans traveled from the rural southern states to the northern cities. They traveled to these northern cities in hopesRead MoreThe Civil Rights Of The Harlem Renaissance2363 Words   |  10 PagesSitting on the bus, an African American woman was viciously barked at by the white bus driver to give up her seat to a white man. The woman was Rosa Parks and this event sparked the beginning of the first large-scale demonstration against segregation in the U.S and labeled her as the â€Å"first lady of civil rights.† For years, Parks and people of color were seen as detestable in the eyes of white Americans. They were forced to work dehumanizing jobs and follow rigid social predestinations. Women, inRead MoreLangsto n Hughes Research Paper25309 Words   |  102 Pagessegregation and racial injustice in the United States. As the manager of an electric company and owner of a ranch and mines, Jim expressed contempt for black Americans who continued to submit to segregation and live in poverty. Langston Hughes, 1933 (Library of Congress) Langston was not ashamed of being a black American. He had already written poems celebrating his heritage. He felt connected to the oppressed brown people of the world and hated his father for mistreating his Mexican employees. Witnessing

Fast Food Healthy Or Not - 1772 Words

Uyen Mai English 1A Professor Jennifer McGuire June 29 2016 Fast Food: Healthy or Not Nowadays, with developing of society, people seem to be not having time to care about meals. There are many kinds of foods for their choices. Fast food becomes a popular choice, and helps them solve their time issues. Eating fast food becomes a favorite habit that most people who are young and teenager really enjoy to taste. McDonald, Popeye, Burger King, and KFC are the most brand names in the world. I like fast food, especially KFC because it is cheap, delicious, and convenient for saving time. According to Wikipedia, fast food restaurant was known as a quick service restaurant within the industry, and the first fast food restaurant was founded in the United States with AW in 1919 and White Castle in 1921 (â€Å" Fast Food Restaurant†). Nowadays, KFC and McDonald are the best fast food chains which almost multinational companies with many places around the world. It is so easy to find fast food chains spreading everywhere. Obviously, people give fast food a love because of s ome reason such as: saving time, cheap, and convenient. In contrast, Fast food also contains some disadvantages which will lead to diseases such as: heart attacks, obesity, and getting harmful chemicals to health. We will consider both sides some benefits and disadvantages of fast food. The first reason why people like to eat fast food is that it can help people saving the time. The time is so important because we can useShow MoreRelatedHealthy Fast Food1003 Words   |  5 Pagestelevision or radio and not be hit with advertisements introducing the latest fast food trend Ââ€" fresh and healthy food options. More often, the media bombards us with slogans such as Subway s common pitch to eat fresh or McDonald s million-dollar advertisement campaign to try the new fruit and walnut salad. Attention has made an abrupt turn from the greasy, deep-fried originals at the fast food chains to more health conscious food choices. Even a documentary of a man named Morgan Spurlock made headlinesRead MoreFast Foods And Healthy Foods1995 Words   |  8 Pages Fast Foods Verses Healthy Foods Healthy foods are considered in the definition of Segen’s Medical Dictionary (2012) as any food believed to be ‘good for you’. Fast foods are considered in the definition of Merriam-Webster Dictionary (2015), as relating to, or specializing in food that can be prepared and served quickly at a fast–food restaurant that is designed for ready availability, use, or consumption and with little consideration given to quality or significance. Problem Statement The purposeRead MoreFast Food Vs Healthy Food Essay1120 Words   |  5 PagesFast food has been an extremely evident food supplier in the past 10 years, so I have decided to investigate further into the fast food world. I am looking into the â€Å"battle† between fast food and healthy food, and why fast food is so cheap compared to healthy food. There’s something about fast food, I have just been so passionate about it, and have always wondered what’s in fast food and why is it so inexpensive. I feel like fast food ingredients and prices should be expressed to the public, in whichRead MoreFast Food Restaurants Are Not A Healthy Choice Essay812 Words   |  4 Pages Fast food restaurants are common trend and fashion in people’s life style. Most of the fast food chains such as McDonald’s, KFc are perfect in the business and in the fast food industry. Colorful decorations, icons, and advertising tips give people attraction the business. The new gene ration of the fast food restaurants are trying to provide healthier choices for customer, but most of people still believe that fast food is unhealthy. Many fast food restaurants are trying to using healthier wayRead MoreEssay about Healthy Fast Food908 Words   |  4 Pagestelevision or radio and not be hit with advertisements introducing the latest fast food trend – fresh and healthy food options. More often, the media bombards us with slogans such as Subway’s common pitch to â€Å"eat fresh† or McDonald’s million-dollar advertisement campaign to try the new fruit and walnut salad. Attention has made an abrupt turn from the greasy, deep-fried originals at the fast food chains to more health conscious food choices. Even a documentary of a man named Morgan Spurlock made headlinesRead MoreEssay on Healthy Fast Food in America1865 Words   |  8 Pagesfor their order. It’s the sad truth about fast food. The market is chock-full with hungry consumers on extremely tight schedules with â€Å"instant gratification† mindsets. One variable, the fast food market never could have predicted was a â€Å"healthy American†. Everything is now sorted into increments of one hundred calories conveniently put into separate packages for the new health-conscious men and women of the twenty first century. In the beginning, fast food markets preyed on a booming new market hungryRead MoreFast Food Vs Healthy Homemade Meals Essay1293 Words   |  6 PagesFast Food vs Healthy Homemade Meals In today’s society, most people plan their daily meals around their busy schedules. Food plays an important role in our lives and most just rely on fast food because it is quicker and easier. However, devouring fast food is one of the worst choices you can make. In order to maintain proper health and prevent numerous illnesses and diseases, consuming healthy homemade meals is definitely a more ideal choice. According to a recent study, â€Å"when people cook mostRead MoreFast Food Vs. Healthy Homemade Meals Essay1321 Words   |  6 PagesFast Food vs. Healthy, Homemade Meals In today’s society, most people plan their daily meals around their busy schedules. Food plays an important role in our lives and most people prefer what is quicker and easier on a day-to-day basis. However, devouring fast food is one of the worst choices you can make. In order to maintain proper health and prevent numerous illnesses and diseases, consuming healthy homemade meals is definitely a more ideal choice. According to a recent study, â€Å"when peopleRead MoreThe Healthy Mediterranean Diet Will Be Under Siege By Fast Food1608 Words   |  7 Pages(Jones). This indicates that the healthy Mediterranean diet will continue to be under siege by fast food which could see the healthiest people in the world become fat and more prone to diet-based diseases. As noted earlier, the problem of health and culture go together not only in Europe, but also in the Asian markets. Various countries in Asia have seen very similar results of what is happening in the Mediterranean. Many Asian nations have been invaded by the fast-food industry and have seen theirRead MoreFast Food Restaurants, Childhood Obesity, and Healthy Eating Habits3327 Words   |  13 Pages Fast Food Restaurants, Childhood Obesity, and Healthy Eating Habits Today, fast food restaurants are often blamed for childhood obesity. This is however a simplistic point of view, there are a number of factors that contribute to the current epidemic of childhood obesity. When all is said and done, the responsibly of teaching children healthy eating habits and encouraging regular exercise to mitigate this problem lies with parents. It is estimated that as many as one in five Americans is obese

Elements Comprising The Global Financial Crisis Essay Example Pdf - Free Essay Example

Sample details Pages: 11 Words: 3276 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Let us recap the previous chapters, we had cheap global debt searching for high returns and this search was channeled into a deregulated market by the innovation of complex financial instruments based on the elements of uncertainty, compounding interest and speculation. Subprime mortgage crisis was the result of a market that was too prone to transact in debt based transactions rather than equity based transactions. Ultimately this activity automatically spread through the process of globalisation all over the globe. Debt and compounding interest in its nature is open invitation to crisis but this situation was worsen by the securitisation of transaction which were not accurately reviewed for the risk they were carrying. Use of faulty finance models and equally faulty credit ratings increased the devastating effects of the Subprime mortgage crisis. When all these elements combined together: here we were in the middle of a perfect storm. The Subprime mortg age crisis exposed vulnerability of various regulatory frameworks working in the financial markets. Without vigorous financial and economic conditions in the world markets contagious risks are very common, and market expansions in such circumstances are a definite threat to the economic system.  [1]  Islamic economists frequently referred the Subprime crisis as a result of compounding interest rates (Riba). Imbalance between the equity and debt based transactions, excessive expansions of the firms through debt borrowings, payment deficits, and inadequate regulations by the financial market; all is linked to the Subprime mortgage crisis.  [2]  In 2008, injection of $250 billion of taxpayer money as capital into major banking organizations by US Treasury was an attempt to reinstate the consumer confidence in the banking system. More than three trillion dollar bail out and liquidity injections to crisis did not come out of blue there are number of causes. Robert Priester, Head of Department Banking Supervision and financial Markets observed; ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ Crisis was due to the combination of three levels: First level: Sub prime loans in US were regulated by institutions which were not regulated by the Fed and lending conditions were based on the unrealistic projection on real estate prices evaluation and completely over looked the borrowers repayment capacity. Second level: CDOs were not easily understoodÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦and Third level: Imprudent behavior of the banksÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ On one hand banks were selling Money when there was no actual money in existence and Assets before their existence. While on the other hand they allowed the debt to grow unchecked. This unchecked Excessive and imprudent lending worsen by excessive derivative and speculative transactions on the capital market and resulted in unavoidable default causing the capital market to crash, further destabilizing banki ng market which brought another episode of financial crisis harming real economic sector. Edward Estlin once said Im living so far beyond my income that we may almost be said to be living apart. and this was what exactly happening in our real economy. While observing too much interest of conventional financial system (CFS) towards Debt bases financing in comparison with Equity based financing Wolfgang Munchau in Financial Times states that ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ The US market was overprized with 40 to 50%. People took loan after loan and you have reports that people in US having 25 credit cards, taking mortgages that are 20 times more than their incomes, 130% of the Value of the houseÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ Under the pressures of reviving economy government supported the Too Big to Fail, and one after another of the major banks and other financial institutions has received government assistance. This chance of receiving regulatory forbearance is making big o rganisations to go beyond the boundaries of prudent financial transactions and pushes them to the limits of recklessness. With big position comes a big responsibility but these organisations have used this position to black mail governments for their voracious and self-interested drives, as if governments let them fail they fear that there failures would cause havoc to the real economy.  [3]  Islamic financial system strikes a balance between flexibility and oversight. Such situations of credit crunch could not happen under Islamic financial system because this system is based on partnership between the client and the banks or a social commitment within the Islamic banking and financial market. The financial crisis has proven very clearly that the apparent strength of modern financial markets was illusionary. The happy-go-lucky mood vanished instantly, with the write down of losses accompanied by the sackings of executives and followed by more rigorous lending for the real victi ms of the credit crunch. Moreover, this financial crisis also gave rise to inflation as the unbalanced situation caused the demand for oil and food pushed prices up globally. This crisis has stunned the economies through out the globe. The modern financial economy differs from Islamic economics in many critical respects.  [4]  But one thing is very apparent that the elements that caused the global crisis are the elements completely prohibited under Islamic financial system. We do recognise that although Islamic financial system is new and obviously requires time to develop against it rival but indeed provides perfect set of basic principals on which new alternate financial instruments can be developed to avoid further crisis. Current Subprime crisis  [5]  can be evident as a crisis of failed morality giving rise to a relationship created by voracity of investment originators and ended up on exploitation of investors who where unaware of the risk they were investing in. As a consequence we have witnessed a sharp decline in equity markets through out the globe, collapse of numerous financial institutions and rescues by central banks and governments by investing trillions of tax payers money on bailouts, liquidity injections, and by reducing interest rates in order to Increase liquidity and avoid recession to revive the financial market and to restore assurance in the monetary system. But in reality a prudent and rational solution for further avoidance of financial crisis is not possible without following the basic guidelines advocated by Islamic financial system Economic and monetary crises are not strange to financial history, from the Mexican currency crisis (1994) to Asian currency crisis (1997), Russian sovereign default (1998) and LTCM bailout (1998) till devastating dot-com (2000), and very recent housing (2006) and commodity bubble burst (2008) they always have showed indicating signs of the bigger problems ahead influencing the world eco nomy at large.  [6]  The panic that began in US mortgage sector rapidly spread through out the globe. Since the experience of Great Depression 1930 the Current crisis has exposed the world economy to a worse and very long period of economic slowdown. This default and failure of financial market has brought down a notable spill in financial world.  [7] In principle impacts and causes of the present catastrophe were not different from other significant crisis in financial history. Mainly this time, the credit risk assumed by lenders in US on Subprime clients was overlooked. The transactions were not balanced between debt and equity based transactions stressing on debt based transactions ultimately ended up in entering into a recession spreading the economic slowdown and panic through out the globe. People acquired debt which they were unable to pay back. Debt was not the problem; the crunch was caused by the compounding interest which people were unable to pay. There is nothi ng wrong in borrowing money the problem comes when there is too much money borrowed by the borrowers on interest rate (which is not fixed). As early stated after the Great Depression in 1930s the current financial crisis is the greatest one that hit the world economy making the speculative explosion a reality. Charlie McCreevy Commissioner for the Internal Market and Services, European Commission in his speech states that the only way to prudently lend money is on the basis of a realistic assessment of the capacity of the borrower to repay- not from crystal ball gazing about the prospects of finding some one to refinance but from the borrowers sustainable cash flows. In the US much of the market moved towards the assumption that one could indefinitely rely on mortgage refinancing with increase debt on the back of rising asset values and an environment of permanently low interest ratesÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ fragility of this system became clear once falls in US house prices were followed by inevitable high default levels among over leveraged borrowers. Exposure to these losses was transmitted partly via the securitization markets to financial intuitions around the world, trading of these underlying financial instruments on over the counter markets made these loses hard to locateÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ . As market confidence fell, problem started to appear in other credit markets and default spread to higher quality segments of the US market, to credit card debt and to car loans. In the monetary world maximisation of income and wealth is the highest measure of human achievement and banks also wish to maximize their profits by extending more credit resulting in high profits. It is high leverage which enables excessive lending. Excessive lending, however, leads to an unsustainable boom in asset prices Followed by an artificial rise in consumption and speculative investment. The higher the leverage the more difficult it is to unwin d it in a downturn. Unwinding gives rise to a vicious cycle of selling that feeds on itself and leads to a steep decline in asset prices followed by a serious financial crisis, particularly if it is also accompanied by overindulgence in short sales.  [8] Almost all crises like Stock market crash of 1987, the Long-Term Capital Management (LTCM) collapse in 1998, and the Dot.com bubble burst in 2000 etc are the result of excessive and imprudent lending by banks  [9]  that can not only damage their own long-run interest structure but can blow-off the balance of whole economic system. Mr. Bernanke, Chairman of the Board of Governors of the Federal Reserve System, stated in one of his speeches that far too much of the lending in recent years was neither responsible nor prudent. in addition, abusive, unfair or deceptive lending practices led some borrowers into mortgages that they would not have chosen knowingly (Bernanke, 2008, p.1).  [10] The interest on lending operati ons is the major source of profit in the conventional financial system by banks, but the bad episode of loss starts when banks are unable to recover these loans with interest. Hence it is very prudent to think that banks would carefully analyse their lending operations to avoid loss. But two scenarios prevail in real world where they assume their immunity from losses. The Indispensable and Unavoidable Collaterals stand in front for managing the risk of default. Collateral when exposed to a valuation risk can be impaired by the same factors that diminish the borrowers ability to repay. And then comes the Too Big To Fail concept that provides protection and ensures their survival  [11]  and proved to be encouraging negligence to undertake a careful evaluation of loan applications ultimately resulting in unhealthy expansion in the overall volume of credit, to excessive leverage, and above all unsustainable speculative investment that gives rise to financial fragility and d ebt crises and builds instability into the fiscal structure.  [12]  False sense of immunity and assurance against losses provided bankers with such a safety net which is like incentive to take greater risk than what they otherwise would in normal circumstances. Because as soon the big banks and borrowers are threatened by the default they are immoderately bailed out by IMF or central banks or the governments. This kind of free subsidy proved to be very harmful for the financial system this is Rewarding Greed and Stupidity not the Ingenuity of the Market.  [13] For example in the present scenario the excessive and imprudent mortgage lending by financial institutions like Washington Mutual to many high-risk home purchasers boomed the defaults of Subprime mortgages in the United States in 2007. Let us analyze the crisis step by step. The lenders paid certain amount of service fees to Washington Mutual in return of the sale. Mutual securitized this lending and sold to mortga ge guarantee institutions (Fannie Mae and Freddie Mac) to earn more funds. The guarantors pooled and packaged the mortgages into instrument called Mortgage backed Securities (MBS). MBSs were sold to the Wall Street. After that, the Wall Street re-packaged the MBS into another derivative instrument called as Collateralized Debt Obligations (CDOs) and sold them to some investment banks, e.g. Lehman Brothers. The investment banks mixed prime and subprime debt to pass the entire risk of default of even Subprime debt from mortgage originators and sold the instruments to the ultimate purchasers who due to this disguise packaging could not see the inherent risk of the financial instrument they bought against their default. The high ratings and higher yields on CDOs, made it easier for mortgage originators to pass the risk of default to the ultimate purchasers. Unscrupulous lenders also used deceptive tactics to sell adjustable rate mortgages (ARMs) to promote the sale of debt t o unsophisticated borrowers. Loan volume accordingly gained greater priority over loan quality and the amount of lending to Subprime borrowers and speculators increased steeply. This bundle of doughy debt became structured investment vehicle (SIV). In the end they structured no risk but crisis. This camouflage created uncertainty in creditors and they sought for protection against default by buying derivatives like Credit Default Swaps (CDSs). They paid premium to hedge funds for the compensation they will receive in case the debtor defaults. An additional dilemma was that the hedge funds did not only sell the CDSs to creditors, they also sold the derivatives to a large number of others who were willing to bet on the default of the debtor, and those speculators further resold those instruments to others. Consequently, the default of hedge funds and investment banks to pay such promised incentives to the instrument buyers brought them to unavoidable bankruptcy and those buyers to ext remely high investment losses.  [14] Generally the securitization enables the banks to transfer the risk of default to the other purchasers by selling the debt and use the proceeds for further loans and increase their profit. Under the above scenario a rational purchaser would be willing to buy the prime debt but reluctant to buy the Subprime debt. So a camouflage of collateralized debt obligations (CDOs) was created to hide the issue. Prime and Subprime debts were mixed and securitized by trenching them into different groups with varying degrees of risk and maturity. Since complex models were difficult to understand, this made their purchasers rely on rating agencies, which issued ratings on the basis of information that was provided to them without verifying its exactness. Credit rating companies were paid by the companies they were rating plus they had business interest in encouraging companies to multiply off balance sheet vehicles which they have to rate. They emerged as f irst villains of the crisis as they had actively contributed to the real estate bubble by over-rating senior trenches in special purpose vehicles. Moreover, it also appeared that they faced serious conflict-of-interest problems as discussed above because they not only rated the products, but also gave advice on how to structure them . Ratings agencies are special entities, however, and there were only few that counted in the crisis. The two largest ones, SP and Moodys, are said to control 80% of the global market. Their ratings played a quasi-formal role in markets. A downgrade by a rating agency has immediate and dramatic consequences for a firm, or even a country. Lehmans fate for example was sealed when its credit rating was cut to junk status on Friday, September 12th.  [15] The lack of transparency and information asymmetry led to adverse selection, of transactions resulted from inadequate information, which ultimately led to unreasonable compression of credit spreads in t he financial market. Assessments that were based on complex modeling did not provide a clear picture of tail risks or liquidity risk and this put creditors to have a heavy reliance on rating agencies. The set-up was so unclear that After august 2007 when London market went down a well know city firm Lake Street Global Market issued a statement saying: Market participant dont know whether to buy on rumor or sell on news, do the opposite do both or do neither depending on which way the wind is blowing. This brings us to a conclusion that the current financial crisis is self created by the market system under the huge influence of greed. Advocates and the opponents of both who believe in government intervention and free market economies have failed to deliver a practical long-term solution to the crisis. The break down of old relationships of depositors and borrowers for sources of funds moved to capital markets through Securitization process. This ultimately created a web of Innova tion driven new risks by creation of complex and opaque financial instruments of Hedging and Speculation for transfer of risk that were not well understood by the investors resulting in crisis of financial markets. This phenomenon on one hand caused the financial institutions to suddenly lose significant proportion of their value and on other unexpectedly affected the Investors to lose substantial amount of their investments causing constraint to the flow of credit to families and businesses bringing adverse effects on the real economy. CFS promoted derivatives to transfer one kind of risk, but created newer risks through complex securities which being novel in their nature were difficult to assess. Investors were unable to know the exact nature and inherent risks of assets underlying these securities. All this defacing of financial system was originated by excessive profit-motives driving the creation of complex instruments and operations and deregulation of system which invited th e nightmares of default in the reality of Financial Crisis.  [16] On one side these complex tools of Derivatives increased the systemic risk during the current crisis which brought not a different result from 1930s depression portraying a very mortal picture of the relationship between derivatives and liquidity. While on the other side, many members of financial institutions boards have proved to be too ignorant and incompetent to serve as directors, as they were unable to understand leverage or the implicit risks behind derivatives. A well known Swiss bank which prompted the Governments aid had only one member of the board with experience in derivatives, and the Lehman Brothers board included the head of US Red Cross and a well known Broadway play writerÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ experience in derivatives and risk was sacrificed at the expense of diversity.  [17] One of the most important lessons to be learnt from the present crisis is that the financial sector beca me too removed from the real world economy. Many financiers were very detached from the originating transactions due to activities such as securitization, repackaging of assets, utilization of CDS and over-reliance on credit rating agencies, such that the management of risks was inadequate. Islamic financial System (IFS) can make a valuable contribution I n repairing the present crisis.  [18]  IFS techniques if applied and executed properly create a much closer nexus between the asset, the customer and the financier. IFS prohibits the creation of debt through direct lending and borrowing, hence prohibiting excessive leverage, which is a root cause of the crisis. The creation of debt, through the sale or lease of real assets (via the Murabahah, Ijarah, and Salam or Istasnah modes of financing) is permitted subject to the conditions. The crisis has proven that IFS is a credible alternative system that is free of the major weaknesses found in the conventional system briefly a major reason of CFS default was its too much involvement in Debt Based Financing instead of Equity Based Financing which is opposite in IFS as IFS encourages the Equity Based Financing and discourages the Debt Based Financing against it. The current crisis shows up the soundness of a trade and investment-based financial system as advocated by the IFS. The strengths of Islamic finance are derived from its adherence to ethical finance and socially responsible investment.  [19] Don’t waste time! 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Richard Cory And The American Dream - 973 Words

Richard Cory by Edwin Arlington Robinson represents a life we all strive to achieve. The narrator describes Cory as, â€Å"Richer than a King†, â€Å"gentleman from sole to crown†. Richard Cory not only possess the wealth, his characteristic of being a gentleman makes him even more admirable. The narrator also views Richard Cory’s life as exemplary and states, â€Å"In, fine we thought that he was everything to make us wish that we were in his place†. However, as the poem comes to an end Cory commits suicide showcasing the irony that wealth does not bring happiness as so many of us often believe it will. This story relates to the American dream because we constantly strive to achieve a better life with a career, jobs, good finance and happiness. To†¦show more content†¦They arrive at the store and realize the price of objects there are really high for example the paperweight for four hundred eighty dollars. While, Junebug states, â€Å"I don†™t even have a desk, â€Å"I don’t even have a desk†. Later in the story Sylvia talks about a toy that she describes as, â€Å"tricky toy† and it costs thirty-five dollars. However, she thinks about what her mother would say as she states, â€Å"Thirty-five dollars could buy new bunk beds for Junior and Gretchen’s boy. Thirty-five dollars and the whole household could visit Granddaddy. Nelson in the country. Thirty-five dollars would pay for the rent and the piano bill too.† From this statement it is clear that there is a financial disparity between Sylvia and people who are able (financially) to afford thirty-five dollar toys. Even though, initially Sylvia was opposed to anything that Ms. Moore was trying to teach towards the end of story Sylvia states, â€Å"Miss Moore looks at me sorrowfully, I’m thinkin. And something weird is going on, I can feel it in my chest† This statement shows that Sylvia understood what Ms. Moore was try ing to teach all along this trip that there is a disparity in finance between her and people who buy toys worth thousands dollars. This story shows the economic inequality that exists between the poor and the rich, which can be bridged with the education that is provided in America. The American dream gives an equal chance to have a better life. A and P by John Updike isShow MoreRelatedThe Reality of the American Dream: The Poem Richard Cory by Edwin Arlington Robinson999 Words   |  4 Pages As Americans, many of us believe in this principle of the American Dream. The American Dream, in its simplicity, is the notion that anything, especially career wise, is achievable. We usually associate this concept with obtaining material things, such as cars or a fancy house. But, even if you achieve your American Dream, complete with a car and fancy house, does that really mean you achieved happiness? The poem â€Å"Richard Cory† by Edwin Arlington Robinson is a testament to this idea that althoughRead MoreEssay about Richard Cory: Comparing Paul Simon and Edwin Robinson623 Words   |  3 Pages Richard Cory poems are a traditional type of poetry found all throughout different time periods. The poems range from the original to song variations, all contributing their own perspectives on what Richard Cory symbolized, and each takes their own distinct form. Richard Cory poetry usual contains the distinct ending of Richard Cory taking his own life, but each poem adds its own variations to this repetitive theme. Throughout the poems, there are also many similar themes, which portray a consistentRead MoreThe Dysfunctional American Dream in Death of a Salesman by Arthur Miller1231 Words   |  5 PagesThe Dysfunctional American Dream in Death of a Salesman by Arthur Miller In the American society, it is thought that if you work hard, no matter what circumstances, you can become rich and powerful. You can overcome deep poverty to become the richest man alive. This superhuman absurdity is what is referred to as the American Dream. Day after day, Americans struggle to achieve fame and prosperity, only to find failure and heartbreak. The American Dream in todays society is dead and isRead MoreCritical Analysis Of Richard Cory820 Words   |  4 PagesThe poem â€Å"Richard Cory† is Robinson’s famous poem about a man named Richard Cory who was outwardly wealthy and admirable to many. The poem adopts an overly narrative style. Through this style, the poet is able to detail of the life and timesof Robinson Cory as a loner of the upper social class in America. It is a tale of internal conflict and dissatisfaction experienced by a man who everybody admired. The personadescribes him using finest terms such as ‘gentleman’ to denote of how people of the lowerRead MoreGreat Gatsby Compared to Richard Cory794 Words   |  4 Pagesâ€Å"Richard Cory† written by Edwin Arlington Robinson is about a man who appears to be admirable on the exterior but no one is familiar with his interior, which is suffering badly. The narrator talks Richard Cory up by stating, he was richer than a king,(line 9) admirably schooled,(line 10) we thought that he was everything to make us wish that we were in his place.(lines 11-12) Until an abrupt ending to the poem, one calm summer night, went home and put a bullet through his head.(lines 15-16)Read MoreCritical Analysis Of Richard Cory By Edwin Arlington Robinson1069 Words   |  5 PagesRichard Cory I chose to write about the poem Richard Cory by Edwin Arlington Robinson. I chose to write about this poem because it interested me, the way the setting and the personality of the protagonist lured me into writing about it. What I liked about this poem was its mysterious ending. This poem relates to our world today because many people are seen as perfect or nearly as perfect, but in their own eyes, theyre in reality, miserable. The poem Richard Cory is about a rich man thatRead MoreAnalysis Of Homer s Poem Barbie Doll 871 Words   |  4 PagesIn Marge Piercy’s poem â€Å"Barbie Doll,† the protagonist, a young girl, has all of her imperfections pointed out, while in Edwin Arlington Robinson’s poem â€Å"Richard Cory,† the protagonist, a successful man named Richard Cory, has his seemingly perfect life set as the main focus. However, in both poems the protagonist quite apparently and shockingly commits suicide. Piercy and Robinson also utilize diction and literary elements in different ways to convey a similar feeling for the reader. The subjectRead MoreDreams Deferred And Pleas For Help Unheard : The Effects Of Racism991 Words   |  4 Pages Dreams Deferred and Pleas for Help Unheard: The Effects of Racism Langston Hughes’s poem â€Å"Harlem† and William Faulkner’s â€Å"That Evening Sun† both provide unique and impactful takes on systematic racism in the post-slavery United States. Neither piece explicitly confronts or names the racism depicted in them, illustrating how casual racial prejudice and its effects on its victims are often viewed as inconsequential or innocent – and therefore are dangerously insidious. Both â€Å"Harlem† and â€Å"That EveningRead MoreThe Great Gatsby By F. Scott Fitzgerald1182 Words   |  5 Pagesworks The Great Gatsby by F. Scott Fitzgerald, â€Å"Money† by William Henry Davies, and â€Å"Richard Cory† by Edwin Arlington Robinson, the mutual theme is that greed for money corrupts the general person and tears out all slivers of morality. We see in â€Å"Money† and The Great Gatsby the indication that money brings fair-weather friends, and also that poor people are more jubilant than rich people. Complementary, in â€Å"Richard Cory† and The Great Gatsby, it is suggested that outsiders view the rich as having noRead MoreEssay on Reaching for a Dream in Literature1381 Words   |  6 PagesSelfish Dream Everyone has their dreams and whoever puts all his or her efforts and determination in pursuing that goal is the one who will succeed. However, there are dreamers who have misconceptions about the art of dreaming. In three pieces of literature I have encountered: â€Å"The Achievement of Desire† by Richard Rodriguez, â€Å"A Raisin in the Sun† by Lorraine Hansberry and â€Å"Fences† by August Wilson, its characters fight for their dreams regardless obstacles in their life. Nevertheless, they expose

Essay about Sin and Virtue in the works of Freud and Dante

Religion is arguably most influential when concerning politics, society, and individuality. This belief system provides most people with somewhat of a guideline on how to live their lives on a daily basis, depending on which religion one follows. One of the major underlying aspects of religion, Catholicism or Christianity in particular, is to show guilt or sorrow to God for ones own sins and to ask for forgiveness on Earth so when Judgment Day comes the gates of heaven will open. A follower of Christianity is expected to follow the divine doctrine (e.g. The Ten Commandments) and any deviation requires repentance. If one does not ask for forgiveness for his sins, the common belief is that he will be sent to Hell upon death, spending an†¦show more content†¦(36). Religion constricts an individual?s ability to explore different paths to happiness, thereby mentally situating him in a state of ?unconditional submission?. Civilization also puts enormous expectations and restrictions on individuals and these are in the form of examples such as art, beauty, sexuality, customs, taboos, law, order, and justice. The rule of law is placed above individual instincts and causes man to suppress his instinctual urges in order to coincide with society. As Freud states it is impossible to overlook the extent to which civilization is built up upon a renunciation of instinct (52). This causes sublimation in the human mind, or channeling primal urges to other psychical or physical activities. Freud claims that man?s primal instinctual behavior is aggression and this aggression could disintegrate civilization, therefore it is highly repressed by society and consequently, the mind. ?His aggressiveness is introjected, internalized, it is?sent back to where it came from?his own ego. There it is taken over by a portion of the ego?as super-ego (84). This aggression harbored in the super-ego is then channeled toward the ego creating feelings of guilt. Freud declares that a sense of guilt is the direct result of the conflict between the need for the authority?s love and the impulse towards instinctual satiety, and if this instinctual need cannot be satisfied aggression will ensue (100). A sense of guilt is arisen within whenShow MoreRelatedCleanth Brookss Essay Irony as a Principle of Structure9125 Words   |  37 PagesClass Consciousness Preface THE collection and publication of these essays in book form is not intended to give them a greater importance as a whole than would be due to each individually. For the most part they are attempts, arising out of actual work for the party, to clarify the theoretical problems of the revolutionary movement in the mind ,of the author and his readers. The exceptions to this are the two essays Reification and the Consciousness of the Proletariat and Towards a Methodology ofRead MoreHomosexuality in Victorian and Elizabethan Literature.6608 Words   |  27 Pagesweakened, it still affects people in todays society. It even dates back to the Renaissance days, and is presented by Dante Aligheri is his Inferno. And for this reason doth the smallest round/ Seal with its signet Sodom[...]†. Sodom is a city known for crude sexual acts, which is where sodomy gets its name from. Since the Inferno is a world created by Dante, he believes that sodomy is a sin that is worse than suicide, and d ecides to put it just before the entrance to the Eighth Circle of Hell. In Dracula

Integrated Ethics Education on Accounting †MyAssignmenthelp.com

Question: Discuss about the Integrated Ethics Education on Accounting. Answer: Introduction: The situation presented in the question is that the concerned firm named Mortdale Accounting firm did execute many auditing procedures of the companies that are public in nature in the last accounting year. The issue lies in the fact that the firm now provided these documents of audit to Penhurst Accountants because they were performing a task of conducting a quality review of the auditing procedures executed by Mortdale Accounting, but the firm did not previously inform the clients of this happening. This definitely does not meet with the ethical requirements of APES 110. The ethical principle of Confidentiality has been breached. This is because Mortdale Accounting should have never provided the document of audit without taking prior permission from its clients (Townsend 2014). The situation presented in the question is that Jan Dungog does apply to a local public accounting firm of Chartered Accountants in the want of a position but the issue lies in the fact that it requests the accounting firm in which she applies to refrain from contacting her current employer and then the situation becomes such that she is hired by the accounting firm without contacting her current employer. This definitely does not meet with the ethical requirements of APES 110. The ethical principle of Professional Behavior has been breached. This is because Jan should have been hired after providing relevant information to her employer (Townsend 2014). The situation presented in the question is that Wendal Sailor conducts audits of firms and in the due process often connects with the firms whose audit is being executed suggesting of the other required services before establishing the audit opinion finally. This definitely does not meet with the ethical requirements of APES 110. The principle of Integrity has been breached. This is because the firm does not follow a true and fair method for auditing the firms, instead it influences the client firms to commit fraud (Townsend 2014). The issue presented in the situation is that Judith Durham is a part of the audit team of a non-profitable charitable organization and is also associated with the Board of Directors of the same organization but its a honorary position and she is not consulted in any kind of functions related to management. This is not a breach of the ethical requirements of APES 110 until and unless Judith provides certain crucial information or influences the result of audit. If she does that then surely it would be a breach of the principle of Objectivity. This is because the audit results would not reflect a fair view of the financial condition of the organization (Martinov-Bennie, and Mladenovic, 2015). The situation presented in the question is that a certain firm of chartered accountants keeps its records stored in various computers of its office. In order to accommodate the obtained records of the Branch company it uses the computers in its office that is a certain portion of the accounting records of the Branch company are maintained in the computers of All good Chartered Accounting firm. This definitely does not meet with the ethical requirements of APES 110. The principle of Confidentiality has been breached as the crucial information of the client is not safeguarded and maintained without proper security (Martinov-Bennie, and Mladenovic, 2015). References Townsend, S.R., 2014. The regulation of auditor ethical behaviour in Australia: the problem of conflicts of interest and proposal for structural reform. Martinov-Bennie, N. and Mladenovic, R., 2015. Investigation of the impact of an ethical framework and an integrated ethics education on accounting students ethical sensitivity and judgment. Journal of Business Ethics, 127(1), pp.189-203.

Music Appreciation Text Questions Unit Essay Example For Students

Music Appreciation Text Questions Unit Essay A Sonata is a piece written for a solo instrument, most of the time being a piano or keyboard instrument. A symphony is a musical piece composed for an entire orchestra, and is often an extended writing. 5. What is form in music? Form is the framework a composer uses to write a piece of music. It consists of all other musical elements. Critical Thinking Questions 1 . Music has sometimes been referred to as a universal language. Why has this description been applied to music? Do you agree or disagree with this assessment? Why? This description has been placed because music is found around the world, and there is a universal way that music is read. I agree with this assessment because music in Germany can be read easily in Japan, or music written in the U. S can easily be read in Africa. 2. Why is musical notation important? What benefits do musicians and others receive from being able to write down and note aspects of a musical piece? Musical notation is important because it allows someone to put their feelings about a piece of music, and convey that to other people. This allows musicians and there to know what can be changed to make the music better. 3. In the first part of the unit, we discussed how music is everywhere in society. What are some of the ways that we use music? How do you use music in your own life? Music is used to enhance the mood of a scene in a movie, or advertisement, its used to grab attention of otherwise distracted people, and it is used for personal entertainment. Music is used for me used to distance myself from the people around me who otherwise try to distract me from my work or annoy me. 4. Music can help influence the mood or leaning in a place by the way in which it is played. What is a specific example of this that you have experienced? Discuss the experience (what was the song? How was it played? How did the mood/feeling change? ). For example, you might discuss an experience at a concert, religious service, or another place where music played a part in creating the mood. Music played in the background of a horror movie, it enhances the dramatic effect of fear by a creepy tone, an increasing tempo, and a growing intensity through dynamics. Music Appreciation Text Questions Unit 1 By incandescence