The Financial Crisis and its effects on the world economy Essay

The Financial Crisis and its effects on the world economy - Essay Example Subprime Lending Subprime involves the credit status of the borrowers of subprime loans and does not correspond to the interest rates of such loans. Any type of loans offered to the subprime borrowers which do not satisfy the prime guidelines of a loan are termed as subprime loans. It is a process of lending money to a group of borrowers who are classified as subprime borrowers and they do not qualify for obtaining loans at market interest rates because of the fact that their credit ratings are too low (Duhigg â€Å"Pressured to Take More Risk, Fannie Reached Tipping Point.†). However, the underwriting standards were relaxed by the mortgage lenders because during the phase of strong competition, the availability of the creditworthy borrowers was limited. So the mortgage became risky because they were allowed to less creditworthy borrowers. A crisis situation created in the subprime mortgage market of United States intensified during 2007 and led to global recession (Labaton â €Å"Agency’s ’04 Rule Let Banks Pile up New Debt†). Housing Bubble It has been noticed that from 1997-2006, the housing price in USA has increased by 124 percent. In 2006 the housing prices in USA was very high, which started declining considerably in the year of 2006 and continued in 2007 too. In 2008, the Case-Shiller home price index revealed that the highest drop in the housing prices was seen in 2008 (Schmuecker). This resulted in the subprime crisis due to the obligation created by the Alt-A collateralized debt, Hedge funds, credit, and other mortgages. It heavily affected the new construction, as about 1,283,000 American families sold off their houses, in comparison to 609,000 during 1990-1995. Mortgage finance is one of the most important components in the property debt market. In the year 2008 the US government did offer special loans of about $900 million to rescue the country from housing bubble, but the amount of loss was already far beyond this amou nt (Barker 3). Weak Underwriting Practices The failure of the mortgage underwriting principles was prevalent in USA, as stated by Tichard M. Bowen III, the chief underwriter of Citigroup. He himself stated that among 1600 mortgages by Citi, about 60 percent of the mortgage loans were defective in nature (Morgenson â€Å"Raters Ignored Proof of Unsafe Loans, Panel is told†). This means that the underwriters did not perform their duties based on the policies. Apart from this, the Financial Crisis Enquiry Commission also scrutinized about 900,000 mortgages that were issued from 2006-2007. They found that barely 54 percent of the mortgage loans met the required underwriting standards. Among them about 28 percent mortgage loans even did not met the minimum standards of borrowing (Olin). Collapse and Boom of the Banking System There are various evidences that the risky mortgages were financed by the banking systems. The superfluous pressure from the showed banking system also led t he financial institutions lower their underwriting standards and support the initiation of risky loans. The CEO of the Federal Reserve Bank directly blamed the parallel banking or shadowed banking system for freezing the credit market. During 2007, the securitization market which was supported by the parallel banking system started to collapse and shut down by 2008. In this situation, the private credit market was not available to

Corruption in the Corrections System Research Paper

Corruption in the Corrections System - Research Paper Example In my study, I came up with the best solutions to minimize corruption in these units and include punishing the vote brokers and vote sellers during the judicial voting and annual assessment of the public officials. Others include; conducting regular surprise examination for all the correction system officers, a timely governmental audit by COA or an independent audit firm, strict regulations of the entire correctional system and demolishment of private prisons. A correctional system, sometimes referred to as panel system, is a connection between different agencies with the prime role of providing a jurisdiction’s prison as well as other community-based initiatives such as parole and probation boards. A correctional system forms a major crucial and important part of the macro criminal justice system, which to extent includes other processes of policing, making prosecutions and the general court system. There are some forms as well as types of this system including; Power Factor Correction Systems, Community Correction Information Systems, AccuSine Power Correction System and the Trajectory Correction System, among others. All these different types of correctional system have the same objectives, goals, and aims, which make them, stay focused towards the achievement of the best standards of providing jurisdiction’s prison to the public. However, corruption has diminished the quality of service provision by these systems, leadin g to partial failure on some of them towards the realization of their mission statements. In this research paper, I am going to identify some of the corruptions of this system and discuss the possible tactics that can get used to solving some of these problems. Corruption refers to all the activities leading to abuse of power by the public officers with the prime purpose of private and individual gain. It may also be an organized, independent processes and mechanisms. This is whereby a

Psychiatric Disorders, Diseases, and Drugs Essay Example for Free

Psychiatric Disorders, Diseases, and Drugs Essay In the time span of only one year, roughly seven percent of Americans suffer from some form of a mood disorder (Mood Disorders, n. d. ). The typical person is able to experience moods on all levels but those that suffer from mood disorders get â€Å"stuck† into a certain mood (Mood Disorders, n. d. ). There are different mood disorders and each one can have differing levels of how much one suffers from it. Anxiety disorders are when anxiety is the predominant feature or the avoidance of the anxiety causes abnormal behavior (Morris, 2010). Anxiety disorders are the most common mental disorder. There are many categories, or subdivisions, of anxiety disorders including specific phobias and panic disorders (Morris, 2010). Schizophrenic disorders are very serious disorders in which the individual experiences a disturbance in thoughts, emotions, communications, and can also experience hallucinations and delusions (Morris, 2010). Bulimia nervosa and tourettes syndrome are also psychological disorders that can be helped through medication. Bipolar disorder is a mood disorder in which the individual is experiencing bouts of both mania and depression in an alternating cycle (Morris, 2010). There can be bursts of normal feelings interspersed between these bouts of mania and depression. Studies have shown that bipolar disorder affects both men and women equally unlike depression which favors the women. Studies have also shown that bipolar disorder is not as common as depression (Morris, 2010). While depression and mania on their own can be linked to outside factors, bipolar disorder is certain to be a biological disturbance, usually genetic, and therefore medication is most likely needed to treat it (Morris, 2010). To treat this form of depression there are four classes of medication that can help (Pinel, 2009). Monoamine oxidase inhibitors, such as Iproniazid, increase the levels of monoamines in the body, alleviating the mood of the patient (Pinel, 2009). The problem with medications such as these is that there are many side effects and some can be quite serious. The most serious being the deactivation of tyramine in the body which can lead to surges in blood pressure which, in turn, cause a stroke in the patient (MAOI’s: Side Effects, n. d. ). Tricyclic antidepressants are another medication route that those suffering from bipolar disorder can take. These medications are much safer than monoamine oxidase inhibitors (Pinel, 2009). Tricyclic antidepressants may, in the beginning of taking the medication, cause the individual to have problems with sleeping, to feel tired more than usual, and can cause nausea (United States National Library of Medicine, 2012). Up until recently, the medication of choice to help those with bipolar disorder was lithium (Pinel, 2009). Lithium is not an antidepressant but rather a mood stabilizer that aids in the transition between mania and depression (Pinel, 2009). Unfortunately there are many side effects that can come from taking lithium which can include loss of appetite, indigestion, swollen lips, hair loss, stomach pain, joint and muscle pain, and many other minor side effects (United States National Library of Medicine, 2012). There are also many serious side effects that may occur. Loss of coordination, seizures, slurred speech, blackouts, hallucinations, and crossed eyes are only some of the more serious side effects that may occur when using lithium (United States National Library of Medicine, 2012). Selective monoamine-reuptake inhibitors are a fourth type of medication that those who suffer from bipolar disorder may use. These types of medication aid in raising serotonin levels in the body. Side effects from these types of drugs include nausea, tremors, drowsiness, dizziness, sexual side effects, and, in rare cases, cardiovascular problems may arise (Ferguson, 2001). Panic disorder is a branch out of anxiety disorder and those who suffer from it have recurring panic attacks where they experience sudden and unreasonable extreme fears or terrors (Morris, 2010). When having a panic attack the individual may experience chest pains, sweating, fainting or dizziness, difficulty breathing and swallowing, feelings of something horrible about to happen or of losing control, and can even fear that they are dying (Morris, 2010). Medications that can be used to help those suffering from panic disorders include benzodiazepines, serotonin agonists, and antidepressant drugs (Pinel, 2009). Benzodiazepines help by relaxing the individual but do carry side effects like tremors, nausea, sedation, problems in motor activity (Pinel, 2009). Serotonin agonists are not fully understood how they help but it is known that anti-anxiety feelings without causing a rebound anxiety episode (Pinel, 2009). Common side effects of this drug include nausea, insomnia, headaches, and dizziness (Pinel, 2009). Antidepressants, as described earlier, can also help with panic disorders and carry the same side effects in the individual as when taken for depressive disorders. Schizophrenic disorders are very serious disorders in which the individual experiences a disturbance in thoughts, emotions, communications, and can also experience hallucinations and delusions (Morris, 2010). Disorganized schizophrenia is when an individual shows signs of often bizarre and childlike behaviors (Morris, 2010). The cause of this disorder is still unknown but it is known that it typically begins before the age of twenty-five (Schizophrenia-Disorganized Type, 2010). There are many symptoms of this disorder and they include difficulty feeling pleasure, speech that does not make any sense, any motivation, delusional beliefs, hallucinations, committing strange and sometimes silly behavior, and inappropriate or bizarre emotional responses (â€Å"Schizophrenia-Disorganized Type, 2010). Treatment is limited but when experiencing an episode of disorganized schizophrenia it is imperative that the individual is hospitalized for the safety of his or herself and the safety of others. Treatment can consist of antipsychotic medications, clozapine medication, and support groups or programs (United States National Library of Medicine, 2012). Those who suffer this disorder suffer from it for life. Bulimia nervosa is when an individual will binge eat and then force themselves to rid of the intake by forcing themselves to vomit. While there is no specific known cause of bulimia nervosa there are some theories of what may cause this disorder in an individual including culture, families, life changes, stress, personality, and even biological factors. To treat bulimia nervosa there has been only one drug approved by the Unites States Food and Drug Administration and that is the use of some antidepressants as this has shown to aid in reducing binging and purging as well as aid in improving eating habits (Bulimia Nervosa Fact Sheets, 2009). Tourette’s syndrome is a fairly common disorder that has the individual suffering from it having uncontrollable tics such as blinking, coughing, and, on rare occasions, blurting out inappropriate words (Pinel, 2009). There is no known cause for this syndrome and, while it usually forms in childhood, many individuals will outgrow it over time (United States National Library of Medicine, 2012). Treatment can include antipsychotics which can help in reducing the tics. However, side effects of this include developing tardive dyskinesia, a movement disorder that affects the lower part of the face (Treatment, 2011). While there are thousands of individuals that suffer some sort of psychological disorders all over the world, there is help out there for those in need. While most medication carries some side effects it is up to both the individual and the prescribing doctor to determine if the benefits of using the medication outweigh the side effects that might occur.

Dangers of Drinking and Driving for Teens

Dangers of Drinking and Driving for Teens America is a wonderful place where anyone can travel to have a nice vacation, but they can not do that safely if someone is drinking and driving. Drinking and driving can prevent many accidents while causing someone their life. Driving is an everyday routine for many people in the United States but driving while being intoxicated is becoming a fatal routine. Teenagers are typically inexperienced drivers when they get their first drivers license. Adults are more experienced drivers while being intoxicated but teenagers are more accurate of crashing while being intoxicated. The article Crash types; Markers of Increased. identifies, alcohol-related crash types for which teen drivers were at a greater risk compared with adults. This proves to teens that drinking and driving is a dangerous situation because it can cause serious injury or death. Decreasing the problem of drinking and driving for teenagers would decrease the death of lives. Most car accidents happen because of drunk drivers. If teens drink any type of alcohol it extends the risk of them putting their own selves in danger. According to the article Teens Drinking and Driving Less, Teens were responsible for approximately two point four million episodes of drinking and driving in a month in 2011. This proves that teens take an action of being irresponsible when it comes to drinking and driving. According to the authors (Beck, Shattuck, and Raleigh), The need to increase parents capacity to impose and enforce driving restrictions on provisionally licensed teen drivers is indicated. To prevent any type of car fatal crashes due with teens is that parents need to be involved and make rules when their child is driving on the road. Teenagers are not always mature enough to make their own decisions thats why parents need to be involved with their childs driving style. Parents who look out for their child are good parents because they need to get involved with their driving skills. Parents have the right to know where their child is at all times and the teenager needs to know what their parents expects from them. According to the article (Relation of Parent- Teen) it states, To determine the relations among parent-teen discordance for restrictions on driving conditions, driving rules, and consequences for rule violations at licensure and subsequent risky teen driving. This is the reason why teenagers should take a big responsibility while driving especially when they have a passenger in the seat. Parents who influence their child about having a safe strategy to drive will reduce teen car crash rates. Drinking and driving is not the right decision to make the consequences that come with it is not worth it. Killing innocent lives and injuring them as well will put others in a situation that they dont want to be in. People are allowed to drink but its always safer to have a designated driver to drive them home. To prevent drinking and driving everyone needs to let the world know the outcome behind it and how its a bad decisions. Teenagers can be very stubborn about this subject but its for their own good to get educated about it. It an issue for teenagers to drinking and drive because their reaction on the road at the moment is lowered and a greater risk of them getting into an accident. Knowing on how to save peoples lives and also not endangering them would bring a good awareness towards others. They dont really understand the hazards of drinking and driving as they consider themselves being untouchable to the society. Most minors may not think they are the only ones that get affected by being intoxicated while driving but the person who gave it to them or sold it gets in trouble as well. Each single harm or death caused by drinking and driving can be completely avoidable. The possibility of a teen driver being involved in a fatal crash rises significantly with a BAC (Blood Alcohol Content) of zero point five percent and even more rapidly after zero point eight percent. People need to be aware of what alcohol can cause and do to others. Its not only teenagers who have a problem with drinking and driving but alcohol affects a persons thought of train which likely makes them to make bad decisions, such as seating behind a wheel. There are several crowds out there to prevent this problem of drinking and driving. The two crowds are called M.A.D.D. (Mothers Against Drunk Driving) and S.A.D.D.s (Students Against Destructive Decisions). According to the authors (Loewit-Phillips, Patricia Melody) they state So effective has this organization been, that it is estimated that 94% of all Americans recognize MADDs name and are familiar with its purpose of changing national attitudes concerning driving while impaired or intoxicated This proves that the program influenced many people lives about drinking and driving. Most mothers care for their childs safety as the regards of driving sober or not. Taking this information from experienced drivers will impact anyones live if they accept it? In addition to that drinking and driving should not be allowed and everyone should be responsible and take careful actions upon themselves. Especially when you can put your own life in danger as well as others. Therefore, if someone drinks have a designated driver to prevent them to cause in accident. The main consequence that can go on someones record can be by drinking and driving is driving under the Influence (DUI). So everyone should be well educated enough to prevent not to have any type of alcohol related charges on them. In conclusion, drinking and driving is still a problem amongst teenagers which needs to be dealt with it now and in the future. Work Cited Beck, KH, T Shattuck, and R Raleigh. Parental Predictors Of Teen Driving Risk. American Journal Of Health Behavior 25.1 (2001): 10-20. CINAHL Complete. Web. 9 Feb. 2017. Beck, KH, JL Hartos, and BG Simons-Morton. Relation Of Parent-Teen Agreement On Restrictions To Teen Risky Driving Over 9 Months. American Journal Of Health Behavior 30.5 (2006): 533-543. CINAHL Complete. Web. 9 Feb. 2017. Bingham, CR, et al. Crash Types: Markers Of Increased Risk Of Alcohol-Involved Crashes Among Teen Drivers. Journal Of Studies On Alcohol Drugs 70.4 (2009): 528-535. CINAHL Complete. Web. 9 Feb. 2017. Teens Drinking And Driving Less. American Nurse 44.6 (2012): 7. Academic Search Complete. Web. 9 Feb. 2017. Loewit-Phillips, Patricia Melody, and Abbie Goldbas. Mothers Against Drunk Driving (MADD): History And Impact. International Journal Of Childbirth Education 28.4 (2013): 62-67. CINAHL Complete. Web. 20 Feb. 2017.

Internet Pornography and Teens Essay -- Cyberporn Essays Research Pape

Internet Pornography and Teens      Ã‚   This essay discusses the social impact of exposing teens to internet pornography.    In a report, "Generation Rx.com: How Young People Use the Internet for Health Information," the Kaiser Family Foundation says that seventy (70%) of teenagers (defined as ages 15-17) "have accidentally come across pornography on the Web." Fifty-seven percent of the teens said "being exposed to pornography would have serious impact on kids under 18," while 41% teens responded that such exposure is "no big deal."(Generation)    Clearly, there is a major failure of adult responsibility when almost three out of four teens report they have accidentally come across pornography on the Web. The biggest failure of responsibility lies with federal and state prosecutors who turn a blind eye to obscenity on the Internet. If obscenity laws were being vigorously enforced, the last thing hardcore pornographers would want to do is draw attention to their vile wares by engaging in reckless marketing methods. If vigorously enforced, there would also be much less pornography to accidentally stumble across.    But prosecutors aren't the only ones at fault. Some ISPs provide parents with an option to filter out the pornography, but they refuse to block access to even illegal pornography unless a parent requests filtering. Some on-line services have rules against pornography, but they refuse to actively monitor use of their services for violations.    Many libraries and schools refuse to install screening technology -- arguing that rules and monitoring computer use can protect children from Internet porn. Even assuming such means discouraged teens from actively seeking pornography, how do they protec... ...icates pornography as precipitating 'a cascade of changes in the body that have an impact on health.' This supports former Surgeon General Everett Koop's diagnosis of pornography as a 'crushing public health problem.' Gary Lynch, University of California at Irvine neurologist corroborates these assessments. Brain research, he explains, reveals that what one sees in three-tenths of a second, 'has produced a structural change that is in some ways as profound as the structural changes one sees in [brain] damage.' It can 'leave a trace that will last for years.'(Psychopharmacology)    WORKS CITED: "Generation rx.com"  Ã‚  Ã‚   http://www.kff.org/content/2001/20011211a/AgendaFINAL.pdf New Jersey Family Policy Council.  Ã‚  Ã‚  Ã‚   http://www.njfpc.org/research_papers/ "Psychopharmacology of Pornography"  Ã‚  Ã‚   http://drjudithreisman.org/Michell's%20brain,%20Jan%203,2002.htm

Sheriffs Aims in Journeys End :: R.C. Sheriff Journeys End Literature War Essays

Sheriff's Aims in Journey's End What were Sheriff’s aims in writing Journey’s End and how successful was he in achieving those aims? Drama has been popular for ages because it is very entertaining. Another important feature of a drama is that they provide a message. ‘Romeo and Juliet’ is one of the most popular dramas in the world and is of a romance genre. It was written by the great writer, Shakespeare in 1595. ‘Journey's End’ is a play which portrays a picture of life in the First World War trenches. R C Sheriff’s main aim was to provide a moral message and to show an effective piece of drama. The drama also entertained the audience. Sheriff has been very successful in providing a moral message to the audience. He uses different ways to portray the message. One of the ways is that he uses the characters, how they feel being in trenches, with all the pressure and the bombarding. All the characters have the 'war fever', they don’t like living this way for too long, they are all frightened and would prefer being home with their families. We can see the fear clearly in the character of Hibbert when he says to Stanhope "Go on, then, shoot! You won't let me go to hospital. I swear I'll never go in those trenches again. Shoot! – and thank God -" One of Sheriff's main aims was to entertain the audience. He entertains the audience by recounting his experience in the trenches and the war. We also are educated as we are entertained. He also uses black humour, which is entertaining for the audience. The humour is used by the characters to forget about the real horrors of the war. Sheriff also uses sound effects in a very effective manner, most of the time it is silent, then suddenly you can hear the loud noises i.e. bombarding. Sheriff also uses complex characterization to make the play successful. The characters are different in every manner and this adds to the entertainment. The audience realizes that there is no glory in war and in reality; it is an evil which ultimately destroys every person. The play uses plenty of literary jargon, such as "dug-out, bit of line, minnies, boche, trench fever and topping etc." All the military terms used portray the effect of war and the sense of realism. The language used in the play is mostly formal, as in when they use "cheero, Righto, rugger etc". This is just the language used by the upper-class people of the time. They are also using formal language because the play is set in 1910.

Life of Bob Marley

Gabrielle Coelho ENC 1101 Informative Essay Bob Marley â€Å"Who are you to judge the life I live, I know I'm not perfect and I don't live to be, but before you point fingers make sure your hands are clean†, one of my favorite Bob Marley quotes; I know it by heart. This quote is perfect to me because I know I'm not perfect and I don't allow anybody to judge my lifestyle or decisions especially if they have or made the same or worse decisions. I grew up listening to Bob Marley's music because of my dad. Nobody loves reggae or Bob Marley more than my dad.So ever since I've been little I've had a love for Bob Marley. Bob Marley, born Robert Nesta Marley, is a singer, song writer and musician. He was the most widely known reggae performer and was a great aid in spreading Jamaican music and the Rastafari movement. Marley first began his career as the lead singer of the music band â€Å"Bob Marley and the Wailers†, making songs such as â€Å"I Shot the Sheriff† and â⠂¬Å"Get Up Stand Up† which are still known today. The Wailers later broke up while each of the members continued to pursue solo careers.Marley later had his first international hit, outside of Jamaica â€Å"No Woman No Cry†. Marley was also very much involved with the social and political issues going on in Jamaica. He held rallies and free concerts, which some turned violent where Marley was shot, but fully recovered after. Bob Marley had many children; two from is wife Rita Anderson, two adopted from Rita's previous relationship and several others from different women, according to the Bob Marley official website. Bob also has many grandchild, a few I personally know myself from middle school.Most of Marley's children and grandchildren reside in Miami now. Bob Marley continued to make the best lyrical and influential reggae music, with songs like â€Å"One Love†, â€Å"Jamming† and â€Å"Redemption Song†. In July 1977, Marley discovered a type of melanoma under his toe, which was a symptom of already existing cancer. Doctors told Marley that he should get his toe amputated, but refused because of his religious beliefs. Despite his illness Marley continued on with his world tour up until his final show in at the Stanley theater in Pittsburg.Marley became very ill and the cancer spread through out his body. After fighting the cancer for eight months without success Marley died on the morning of May 11, 1981, in the Cedars of Lebanon hospital in Miami. All in all, Bob Marley introduced the world to the mystic power of reggae. His influential music is loved by everybody all over the world. His music was educational, lyrical and very positive. Bob Marley always stood up for what he believed him which is why I adore him too. Marley is still very popular after his death and his legacy still lives on today.