Time To Change With Time Essays - Cultural Appropriation

Time To Change With Time Time To Change With Time Change starts when someone sees the next step. ~William Drayton Native Americans are trying to take that next step. For the past 100 years Americans have stolen their sacred names and used them for mascots of high school, college, and professional sports teams. The National Education Association is one of the first to step to the plate by passing, Article I-41, which advises use of Prejudicial Terms and Symbols The National Education Association deplores prejudice based on race, ethnicity, religion, sexual orientation, gender, age, disability, size, marital status, or economic status and rejects the use of names, symbols, caricatures, emblems, logos, and mascots that promote such prejudice. (92,94) By having these practices they believe the rights of Native Americans are protected. Native American Mascots in sports need to change to protect and uphold the rights that are granted to them from the constitution. If we started all over before any names were made and altered these names towards other races how would people react? Lets take the Cleveland Indians for example. What would happen if we had used the Jews, Blacks or Chinese as this political cartoon suggests. Every race involved would have been in an uproar when the caricature came out. They would feel that their constitutional rights were being ignored. But, when Chief Wahoo of the Cleveland Indians, runs about drunkenly at baseball games1 they feel that it is ok to disregards the Indian name, heritage, and ritual. Taking in the psychological considerations for the Native Americans dehumanization, as the word implies, is a psychological process that reduces a person or group to a sub-human level. One way in which this process is deployed is by suggesting the subject of the dehumanization is like an animal. Because animals of various types and Indians related mascots are those most frequently used, it can be observed that this practi ce places Native Peoples on a par with wild beasts.2 The people or person who decided to use the name the Indians was not thinking of the long-term controversy it was going to cause. As a group of professional mental health providers, we are in agreement that using images of American Indians as mascots?is damaging to the self-identity, self-concept and self-esteem of our people. These names might seem powerful and forceful but in the long run they have put a culture down and made the fell less of a person. Not only using the name of Indian is wrong but using Redskin is also degrading. The Washington Redskins have used the name redskins for the last 67 years, and maybe the sports fans have just been accustom to the word. Maybe they should just learn what the word means. Merriam Webster's Collegiate Dictionary defines the word redskins in the following manner: American Indian, usually taken to be offensive. The word originated in the 1600's when bounty hunters exchanged the dead bodies of Native women, children and men for money. Since the bodies were too much trouble to transport, the bounty hunters started skinning their victims and exchanging the skins for money. Thus the term redskins were invented. The unified voice of American Indians has been effective. Most recently, a federal trademark panel ruled to revoke the Washington Redskins' federal trademark protection, because the trademark was considered disparaging to the American Indian people?3 When the Redskins have to change their name maybe they will think about the Yellowskins. Since most of the population is Caucasian why couldn't we have the name changed. If we have been using the Redskins, which degrade the American Indians, while we don't think so, why shouldn't we use the Washington Yellowskins? This change would not only cause uproar in society, but may even cause a major boycott. But why should this change of name cause a boycott? Because Americans only care about one person and that is themselves. Americans believe in protecting their own constitutional and or civil rights, not to help smaller minorities. Lame Deer hits the nail on the head when he states Desire killed that man, as desire has killed many before and after him. If this earth should ever be destroyed, it will be by desire, by lust of pleasure

2008 enhanced national, regional and international efforts to improve systemic stability in banking The WritePass Journal

How the global financial crisis of 2007/2008 enhanced national, regional and international efforts to improve systemic stability in banking Introduction: How the global financial crisis of 2007/2008 enhanced national, regional and international efforts to improve systemic stability in banking Introduction:Basel  IPillar one  Pillar two:Pillar three:   II.  Why regulate banks:III.  The Financial Crisis: what happened?IV. An evaluation of Basel II as a uniform system of International banking regulation:1. Shortcomings of Basel I1.1. Procyclicality: 1.2. Unfair competition:1.2.1. Compliance Cost1.2.1.1.  Ã‚  Lack of supervisory uniformityV. Conclusion:ReferenceRelated Introduction: The global financial crisis of 2007/2008 has enhanced national, regional and international efforts, to improve the monitoring of systemic stability in banking. It exposed the weaknesses of the current regime the Basel I; thus leading to increase pressure for a tougher uniform regulation in the banking system. This paper briefly discusses the importance of banks and why they should be regulated; and the causes of the financial crisis. It then goes on further to discuss and evaluate in detail Basel II and the weaknesses of such a uniform system of International banking regulation. Basel  I Following criticisms of Basel I and the increasing complex and global nature of bank operations; the Basel Committee on Banking Supervision hereon ‘the Committee’, published Basel II in 2004. Basel II is an international regulatory framework on capital adequacy of internationally active banks. It is an international standard for national regulators to follow when setting standards for minimum capital. For some, Basel II is one of the most successful uniform regulations, at least in the commercial field[1]. It has been signed by 12 countries and the wake of the financial crisis has led emerging markets and countries such as those in the Asian Pacific region to adopt some of its provisions. Despite its popularity amongst some, many banks still preferred to adopt Basel I because of the complex nature and cost of compliance associated with Basel II; which is feared will be transferred to borrowers through higher capital charges.[2] Though a soft law, it can be argued that Basel II is being adopted by banks not only to encourage international reciprocity, but also because of the benefits it has to offer. It offers an opportunity for banks to improve their sustainability and competitive advantage because it aims at securing financial stability through aligning capital closely with risks.   Unlike Basel I, Basel II achieves this through securing sophisticated approaches to calculating credit and market risks and now operational risks. Others[3] have questioned the practicality of the minimum regulatory capital under Basel II. This is because banks tend to hold more capital due to market forces and national regulation may demand higher capital than Basel II. Whilst the above statement is true, one argues that an international standard of this nature is a necessity justified by the need to prevent systemic risk and to control banks from engaging in excessive risks. Thereby creating market discipline and inherently safeguarding the safety and soundness of the international banking system. Basel II operates on a three pillar approach: Pillar one addresses capital requirements and risks management. Pillar two addresses the supervisory review process. Pillar three addresses market discipline.  Ã‚  Ã‚   Pillar one It proposes three compliance methods for minimum capital based on the complexity of the bank. These include the standard approach and the Internal Ratings Based (IRB) approaches. Smaller banks are encouraged to adopt the standard approach and the larger banks the IRB approaches. Under the standard approach, assignment of risk weights are handled by external credit rating agencies, a commendable move as each bank’s risks will be defined more accurately.   Nonetheless, this approach raises concern as it does not eradicate the risk of capital arbitrage nor complacency since it is not subjected to supervision unlike the IRB approach[4]. Moreover, the IRB approaches even though banks worry about compliance cost, is more likely than the standard approach to increase banks safety and soundness; simply because it empowers banks to understand and estimate their potential risks.   Yet, how reliable is this approach? It is too complex and provides a bank with a lot of discretion which may be abused through creating risk models for regulatory purposes (regulatory arbitrage).[5] Nonetheless, this risk appears to have been reduced by pillar two which authorises supervisors to monitor and approve these models. However, it is believed that the IRB approaches could led to inconsistent regulatory application and treatment of risks by banks. A standardised approach on the other hand, eradicates such inconsistencies though it reduces the willingness to enhance risk controls[6]. Despite its weaknesses, pillar one seeks to promote stronger risk management practices amongst the banks, and therefore its main attraction. Although its name depicts it as a mere improvement of Basel I, Basel II does not incorporate a ‘one size fits all’ approach to risk management as that would hardly reflect the true nature of the borrower’s risk[7].   Pillar two: This pillar provides supervisors the power to review bank risk models and provide constructive feedback. It maintains control over bank practices and harmonises supervision. The discretion it offers is critical given the international scope of Basel II in order to fit into national regulations, differing bank practices and unforeseen innovations. Notwithstanding, there is no provision within the pillar for the extent of these supervisory powers or enforcement actions towards poorly managed institutions,[8] making the discretion too wide.   Therefore, not only could such a wide discretion strain the relationship between the banks and supervisors; it could distort consistent regulatory application as supervisors can in effect enforce these standards however they see fit.[9] Consequently, this creates an unbalanced levelled playing field at an international level. Moreover, the Committee appears to have failed to give much thought to effectively linking pillar 1 and 2. Whilst banks ar e encouraged under pillar one to adopt banking strategies, pillar 2 significantly curtails this freedom. It is for these reasons that it is believed to be the weakest pillar of all and unlikely to promote soundness and stability[10]. Pillar three: Pillar three compliments the first two pillars and pays particular focus on enhancing transparency and prudential banking. Banks are required to publicly disclose information such as capital structure and capital adequacy.   As a result, greater bank discipline will be achieved and consequently, economic efficiency. However, it fails to demand the disclosure of essential information in areas relating to credit risks and internal and external ratings by major banks. Additionally, banks may not be willing to disclose information where capital ratios are falling;[11] consequently, this pillar is only a ‘first step towards providing a foundation for market discipline’[12]    II.  Why regulate banks: Basel II cannot be discussed in isolation without reference to banks and the role they play, because banks are the sole reason for the existence of Basel II. Banks are central to the economic activities of every society, what Cohen refers to as the ‘oil that lubricates the wheel of commerce’[13].   Moreover, they are vital source of sustenance of every economy because they provide finances for various commercial purposes as well as access to payment.   Their activities have a huge impact on society and failure could result in dire consequences. In 2007, setbacks brought about by failure of Northern Rock resulted in systemic bank failures and eventually a recession in the United Kingdom (UK) economy. Society has had to bear the burden of sustaining the economy through spending cuts, redundancies, unemployment and increase in prices of goods and services. Additionally, banks are more reluctant to give out loans and people are less willing to spend and leading to a decl ine in economic growth. This partly explains why there are numerous on going debates on banking regulation. Banks have been described differently by different people. For some a bank is inherently a dangerous institution that will generate crises from time to time.[14]   Banks are fragile and one bank failure could spread systemically with devastating results on society[15] and the international banking system as discussed in the previous chapter. Cranston[16] argues that a failure could cause customers in other banks to rush in to withdraw their savings; causing a liquidity crisis. Whilst there may be a real risk of this happening, it is argued that it is not always the case.   Customers of other UK banks, for example, did not rush to withdraw money from their banks because of the failure of Northern Rock. Rather its collapse seemed to have raised public concern and awareness on the fragility and susceptibility of banks to collapsing.   This confirms the perspective that bank failure and fragility does not mean that the financial system is failing but rather that it should be handle d carefully[17]. Additionally, consumer protection is necessary to prevent abuse of power by unscrupulous bankers who may encourage consumers to enter into financial transactions that may be unbeneficial to them. What is more is that, regulations should not only protect customers but also ensure that public confidence in the stability of the financial system is enhanced and protected.[18]These explain why banks need to be regulated so that their activities do no increase systemic risk, spread to other jurisdictions and plunge the economies into financial crisis like the case of 2007/2008. All in all, the underlying reason for regulating banks is to ensure bank soundness and stability both nationally and internationally, and to prevent systemic risks. III.  The Financial Crisis: what happened? Similarly, Basel II cannot be discussed without a mention of the financial crisis, because, due to the crisis, the debate on Basel II and its role in the financial crisis has been intense. The recent financial crisis, â€Å"arguably the greatest crisis in the history of financial capitalism†[19]   has raised a lot of political and academic debate on its causes including the following: Inadequate regulatory framework and supervision[20] Macro-economic imbalances and housing policies in the United States (US)[21] Poor risk management[22] The financial crisis has undoubtedly revealed inadequacies with current banking regulations. The international framework at the time, Basel II[23], was not adequately designed to prevent or deal with the global financial meltdown. However, should not be completely responsible for the collapse of the banking system. Many of the factors that led to the crisis were in place long before the establishment of Basel II[24]. Nevertheless, one would have expected Basel II to be designed to curb these known practices, inherently preventing or mitigating the crisis. It was inadequate and focused a lot on capital requirements with no guidance for liquidity management, an issue that is now to be addressed by Basel III[25]. For example, the Northern Rock crisis was not as a result of inadequate capital but a lack of a strong asset base[26]. Furthermore, at a domestic level, the UK’s banking regulation operated on a less invasive, less strict basis for fear of forcing out lucrative International banks to other countries.[27]This system may have worked for years, but it failed when it was most needed.   The Financial Services Authority (FSA) failed to ensure adequate supervision of banking system, inherently failing to prevent the crisis or mitigate its effects[28]. This is evident in the fact that it: ‘focused excessively on risks at the level of the individual firm, rather than the aggregate picture, as well as placing an over-emphasis on conduct-of-business regulation rather than its prudential responsibilities’.[29] The FSA failed to take over Northern Rock during early stages; this is partly why the Special Resolution Regime[30] was introduced to give it powers of early intervention. Nonetheless, given the nature of the regulations in place and the global nature of the financial crisis it is doubtful that the FSA could have prevented systemic risks. In addition, to the origin of the crisis from the sub-prime markets in the US, the US economy was consuming more than it was producing as reflected in its large deficit.[31] Besides, there has been plenty of talk in the media about bankers being the cause of the crisis; with bankers such as Sir Fred Godwin at the forefront of the firing squad.[32] These bankers were recklessly engaged in affordable credit facilities and excessive remuneration. Financial innovation led to the creation of complex products and excessive risk taking by the banks that lacked adequate capital to safeguard against failures. However, the pitfalls in the banking system should not rest solely with bankers and the regulators but also with the consumers.[33] Consumers’ insatiable desire for high living standards and the economic growth of previous years also contributed to the recklessness and complacency of bankers.   Whilst consumerism has been great for social growth, its negative impact on the econo my cannot be underestimated and should be partly blamed for the financial crisis[34]. IV. An evaluation of Basel II as a uniform system of International banking regulation: With an understanding of the origin and the aim of Basel II, this section will now closely examine and asses Basel II as a uniform system on international banking. Basel II meets the requirements of a uniform regulation through providing rigorous and detailed guidance on capital requirements applicable to all banks. It takes into consideration differences in bank sizes and operations. Moreover, its three compliance methods for capital requirements respectively apply uniformly to all banks depending on their size.   Therefore, this reassures member countries and non-member countries that banks within their country and other countries are sufficiently safe and sound financially; and unlikely to create systemic risk or worsen an international financial crisis[35]. Hence, such reassurance helps to prevent banks from being perceived by the international community as dangerous, unattractive or left isolated in the international financial sphere. Moreover, its menu of approaches to capital requirements such as the standard approach is suitable for both developed and developing countries as well as small and large banks. Basel II reduces regulatory burden by ensuring that banks operating in more than one country comply with only one and similar financial regulation. If for example, a bank like HSBC with global operations has to comply with different banking and financial regulations in different countries, it might experience confusion due to the regulatory differences, which might lead to waste of valuable time and increase compliance cost which could be reinvested into other profitable areas. The result may be that, banks may refrain from international operations because the costs may outweigh the benefits. If this occurs, it could have dire consequences for some economies. Additionally, Basel II creates a level playing field where single set of rules and a standard level of supervision are uniformly applicable to all banks.   For example, its capital requirements ensure that all banks hold a minimum regulatory capital and as such domestic banks cannot have lower capital rates in comparison to foreign banks. Implying that, domestic banks cannot hold less capital whilst investing the other into profitable ventures which may in turn increase their market share, thereby enhancing their competitiveness at the expense of foreign banks. Consequently, Basel II eliminates legal barriers and barriers to fair competition and by so doing, promoting efficiency, uniformity and prudential international banking[36]. Whilst Basel II has the ability to act as an instrument of fairness and uniformity in International banking, nevertheless, it has a number of shortcomings including procyclicality and unfair competition which will be discussed further below. 1. Shortcomings of Basel I 1.1. Procyclicality: As a uniform system of International banking, Basel II can create pro-cyclicality and disproportionate capital requirements which can lead to huge consequences on macroeconomics. It does not promote consistency throughout an economic cycle, an important component of banking stability. Under Basel II during a boom, banks will appear better capitalised, more likely to lend and make risky investment. However, when the value of assets starts dropping; these banks will appear to be below the minimum capital requirements. For example, the IRB approach is too sensitive to macroeconomic variations and will enhance pro-cyclicality unlike the standard approach which is designed with focus on the credit worthiness of the borrower throughout the economic cycle[37]. Ratings are updated annually under IRB approaches, therefore, during a recession a high risk borrower will reflect a higher probability of default, leading to higher capital charges. This over reliance on risk sensitivity distorts reg ulatory capital when banks are in need of it. The larger risk weights and strict regulatory capital requirements could lead to banks refusing to lend money during a recession and excessive lending during a boom. This could also have a significant impact on developing countries who may suffer a reduction in international lending or a significant increase in their borrowing cost; as they will be reflected as high risk borrowers with a high probability of default.   Nevertheless, some argue that this will not be the case since banks price using economic not regulatory capital[38]. Supporters of Basel II argue that allowing banks to have their own risk model reduces the effect on pro-cyclicality.[39] Additionally, it is not entirely clear that Basel II will aggravate procyclicality because pillar one requires banks to stress-test their credit portfolios and rate borrowers according to their ability to pay back with a recession in mind. Additionally, pillar two requires supervisors to take into account procyclicality during the review process where the bank fails to do so.[40] Therefore, the procyclical effects of Basel II cannot be fully justified given the mechanisms in place under pillar one and two. Moreover, a certain degree of procyclicality is inevitable and appropriate if a bank’s capital is to be closely aligned to its risks for prudential purposes[41].Albeit this, Basel II is bad economics in its attempt to use market prices to predict market failures. It is procyclical, something a uniform regulation should avoid and that may explain why the Ba sel III aims to reduce procyclicality by demanding that banks hold a countercyclical capital buffer of 0% 2.5% by January 2019[42]. 1.2. Unfair competition: Enhancing uniformity and competitive equality is one of the main aims of Basel II. However, it is often difficult to draft rules that will take into account institutional and legal differences and yet apply similarly to all. However, Basel II in its attempt to move away from the ‘one size fits all’ approach may create a breeding ground for unfair competition because there are winners and losers. As it stands, larger banks are favoured because as a result of the nature and complexity of their operations they are more likely to qualify for the IRB model. Hence, they will enjoy a 2% 3% reduction in capital which may be invested in other profitable ventures. For example, in the EU, Basel II is applicable to all banks irrespective of their size or geographical location. This might give larger banks an unfair competitive advantage as the anticipation of lower regulatory requirements can cause them to manipulate risk portfolios and take on excessive risks. This may occur at th e expense of financial stability and smaller banks; that through the standard approach may have the quality of their portfolio worsen[43], causing them to lose market shares. Additionally, because of the wide supervisory powers under pillar two, supervision amongst countries may not be uniform and this may place other countries in a better competitive position than others. For example, countries that are stringent in the application of Basel II rules may be at a competitive disadvantage than countries that do not[44] because their banks may have more capital to invest in other areas. Moreover, Basel II does not apply to non-deposit taking lenders but who nonetheless compete in the financial market. Accordingly, they are placed in a better position, since they comply with lower capital rates than banks that have to comply with Basel II. 1.2.1. Compliance Cost The cost of introducing such a uniform system of regulation such as Basel II may be very high, placing an unnecessary burden on some. For example, the lack in uniformity of capital requirements may have a significant impact on emerging economies and markets as the risk management systems will be costly to introduce. Therefore, the balance of the cost and benefits for introducing and implementing it may be disproportionate.[45] On the other hand, more advanced and developed markets and economies are placed at an advantage. Largely because, aside from the benefit enjoyed by larger banks, the more developed economies and countries are more likely to be equipped and well-resourced to effectively supervise their banks.[46] Consequently, they are in a better position to enjoy the benefits of Basel II than the emerging economies or developing countries. Additionally, where these emerging economies and developing countries fail to implement Basel II they could become unattractive. Nonetheles s, these countries can start by introducing the less complex standard approach and then progress as the economies grows. 1.2.1.1.  Ã‚  Lack of supervisory uniformity As a uniform system the effective implementation Basel II is dependent on voluntary cooperation, yet the discretion and independence of supervisory powers and abilities under pillar 2 are too wide. This could create conflict where the home and host countries follow different schemes of regulations, for example a host country may impose in the place of the IRB approaches the standardised approach for a bank that follows the IRB in its home country in order to avoid lower capital requirements and competitive advantage over domestic banks. Additionally, Basel II formalises the role of external credit rating agencies in assessing bank risks. Whilst they play an important role, their record especially in the recent Asian crisis, raises concern because they are not regulated like the IRB models. The absence of a standard of ratings could lead to capital arbitrage caused by banks shopping for favourable ratings. Hence, encouraging unfair competition amongst agencies as well as intensifying procyclicality of bank lending[47]. This lack of uniformity in the regulation of rating standards and supervision could raise serious concerns in achieving its aim of soundness and stability. An organisation responsible for regulating these rating agencies should be created to ensure that they adhere to the same level of supervision as the IRB models.[48]   This issue is now being tackled by Basel III by requiring the registration and supervision of credit agencies[49]. V. Conclusion: It is without a doubt that Basel II has contributed to prudential banking both at an international and national level; through its three pillars on better risk management, greater transparency and greater supervision. Through its pillars, Basel II offers many great opportunities for banks such as the ability to improve sustainability and competitiveness through closely aligning their risks with capital. It also reduces regulatory burden and to some extent creates a level playing field as it seeks to ensure that the same rules are applicable to all banks. A uniform international banking regulation is greatly desirable and needed as a result of the increasing global operations of banks and constant development in the financial sector. Regardless, Basel II does not fulfill the requirements of a uniform system. Its three pillars although developed with a great vision in mind, fail to make it a desirable piece of uniform regulation. Basel II as a uniform system of banking regulation focuses a lot on capital requirements, ignoring other important areas of banking such as liquidity management. As a result, it failed to prevent or mitigate the financial crisis and its effects. A harmonising international standard that seeks to achieve consistency yet is highly flexible such as Basel II is more than likely to fail. Basel II is over detailed, complex and vague as such relies a great deal on domestic supervisors for effective implementation, which will in effect fail to achieve consistency and uniformity, hence its main weakness. Whilst an international banking regulation is needed, Basel I is highly flawed, hence the reason for the new Basel II Accord. Reference [1] R Bollen, ‘The International financial system and future global regulation’ JIBLR (2008) 23(9), 462 quoting from Felson and Bilali, ‘The role of the bank’ (2004) http://login.westlaw.co.uk/maf/wluk/app/document?src=rlsrguid=ia744c0970000012fd01158ecc34d593cdocguid=I53D96EE057A211DDA3BBFE4B3DB72F6Bhitguid=I53D96EE057A211DDA3BBFE4B3DB72F6Bspos=8epos=8td=15crumb-action=appendcontext=37resolvein=true accessed 21st April 2011 [2] FJ Carden de Carvalho, Basel II:   A critical assessment (March 2005) 1-4 ie.ufrj.br/eventos/seminarios/pesquisa/basel_ii_a_critical_assessment.pdf accessed 26th April 2011 [3] DK Tarullo, ‘Banking on Basel: The future of International Financial Regulation (1st edn, The Peterson Institute For International Economics, 2008) 141-143 [4] D Coskun, ‘Credit-rating agencies in the Basel II framework: Why the standardised approach is inadequate for regulatory capital purposes’ (2010 )JIBLR 157-169, 164 http://login.westlaw.co.uk/maf/wluk/app/document?src=rlsrguid=ia744d05f0000012fd08ca524199ce1a6docguid=IB858F4F230AC11DF9C83BB18AACF6BDBhitguid=IB858F4F230AC11DF9C83BB18AACF6BDBspos=1epos=1td=1crumb-action=appendcontext=6resolvein=true accessed 21st April 2011 [5]D K Tarullo, ‘Banking on Basel: The future of International Financial Regulation (1st edn, The Peterson Institute For International Economics, 2008) 170 [6] A A Jobst, ‘Regulation of Operational risks under the new Basel Capital Accord critical Issues’, (2007) JIBLR 22(5) 264 http://login.westlaw.co.uk/maf/wluk/app/document?src=rlsrguid=ia744d05f0000012fd0b2f898199ce260docguid=I25B9EA20E3D211DBB19ABA1496637E01hitguid=I25B9EA20E3D211DBB19ABA1496637E01spos=10epos=10td=24crumb-action=appendcontext=36resolvein=true accessed 21st April 2011 [7] G LIND, ‘Basel II – the new framework for bank capital’   Economic Review 2, 2005, 23 riksbank.com/upload/Dokument_riksbank/Kat_publicerat/Artiklar_PV/Lind.pdf accessed 16th April 2011 [8] D Vanhoose, ‘Market Discipline and Supervisory Discretion in Banking: Reinforcing or Conflicting Pillars Banking’ (Networks Financial Institute, Indiana State University) 2007 WP 06,26 networksfinancialinstitute.org/Lists/Publication%20Library/Attachments/56/2007-WP-06_VanHoose.pdf accessed 15th April 2011 [9] F J Cardim de Carvalho ‘Basel II:   A critical assessment’,(March 2005) 19 [10] D Vanhoose, ‘Market Discipline and Supervisory Discretion in Banking: Reinforcing or Conflicting Pillars Banking’ (Networks Financial Institute, Indiana State University) 2007 WP 06, 25 networksfinancialinstitute.org/Lists/Publication%20Library/Attachments/56/2007-WP-06_VanHoose.pdf accessed 26th April 2011 [11] D K Tarullo, ‘Banking on Basel: The future of International Financial Regulation (1st edn, The Peterson Institute For International Economics, 2008) 178 [12] D Vanhoose, ‘Market Discipline and Supervisory Discretion in Banking: Reinforcing or Conflicting Pillars Banking’ (Networks Financial Institute, Indiana State University) 2007 WP 06, 24-25 [13] BJ Cohen, ‘In Whose Interest? International Banking and American Foreign Policy’ (New Haven, CN: Yale University Press 1986) cited in O JACOBSOHN, ‘Impact of Basel II on the South African banking system’ (2004) Magister Commercii in Business Management Rand Afrikaans University, 72 http://ujdigispace.uj.ac.za:8080/dspace/bitstream/10210/273/1/Dissertation7.pdf accessed 1st May 2011 [14]House of Commons Treasury Committee, ‘Banking Crisis: regulation and supervision’, 2008-09 available at parliament.the-stationery-office.co.uk/pa/cm200809/cmselect/cmtreasy/767/767.pdf accessed 15th April 2011 [15] This is commonly referred to as systemic risk. [16] R Cranston, Principles of Banking Law (2nd edn OUP 2002)   66-67 [17]MJB Hall and GG Kaufman, ‘International Banking Regulation’ (2002), 8 www.luc.edu/faculty//InternationalBankingRegulation7-12-02.doc accessed 15th May [18] This is also objective 2   of regulators laid down in s.4 of the Banking Act 2009 [19] A Peel, ‘The Turner Review’ (2009) 33 CSR 9, 70,1 lexisnexis.com/uk/legal/results/docview/docview.do?docLinkInd=truerisb=21_T11911683585format=GNBFULLsort=PUBLISHED-DATE,D,H,$PSEUDOLOSK,A,HstartDocNo=1resultsUrlKey=29_T11911683589cisb=22_T11911683588treeMax=truetreeWidth=0csi=280148docNo=1 accessed 15th April 2011 [20]   C Chambers, ‘The Reforms: A Political Safe Haven or Political Suicide – is the Labour bubble bursting?’ (2011) JFRC 19(1), 2 http://login.westlaw.co.uk/maf/wluk/app/document?src=rlsrguid=ia744c0970000012fcff20386f488fee9docguid=I6213C8F246DF11E0A6ECC01597E875E2hitguid=I6213C8F246DF11E0A6ECC01597E875E2spos=2epos=2td=15crumb-action=appendcontext=17resolvein=true accessed 15th April 2011; Deputy K Ekholm, ‘Some lessons from the financial crisis for monetary policy’ (4th December 2009) bis.org/review/r091214c.pdf accessed 15th April 2011 [21] F J Cardim de Carvalho ‘Basel II:   A critical assessment’,(March 2005) 19 ie.ufrj.br/eventos/seminarios/pesquisa/basel_ii_a_critical_assessment.pdf accessed 26th April 2011 [22] IH-Y Chiu, ‘Legislation, regulatory and governance reforms in financial regulation: reflections on the global financial crisis’ Editorial, Comp Law,(2010) 31(6), 165 http://login.westlaw.co.uk/maf/wluk/app/document?src=rlsrguid=ia744cc630000012fcfffcb546e891311docguid=IECBD4B406ACE11DFB49F99FD3B90BEF9hitguid=IECBD4B406ACE11DFB49F99FD3B90BEF9spos=15epos=15td=262crumb-action=appendcontext=30resolvein=true accessed 17th April 2011 [23] Basel II: The International Convergence of Capital Measurement and Capital Standards A Revised Framework, 2004 [24] E Fournier, ‘How Basel Should Change’ 28 IFLR 16 (2008-2010), 20 http://login.westlaw.co.uk/maf/wluk/app/document?src=rlsrguid=ia744c09a0000012ffaeb98dabae8321bdocguid=I57126030E6A411DDB056C665510274F9hitguid=I57126030E6A411DDB056C665510274F9spos=1epos=1td=1crumb-action=appendcontext=7resolvein=true accessed 21st April 2011 [25] International Regulatory Framework for Banks, 2010 [26] R Bollen, ‘The International financial system and future global regulation’ JIBLR (2008) 23(9), 470 http://login.westlaw.co.uk/maf/wluk/app/document?src=rlsrguid=ia744c0970000012fd01158ecc34d593cdocguid=I53D96EE057A211DDA3BBFE4B3DB72F6Bhitguid=I53D96EE057A211DDA3BBFE4B3DB72F6Bspos=8epos=8td=15crumb-action=appendcontext=37resolvein=true accessed 21st April 2011 [27] Economics online ‘Banking regulation’ economicsonline.co.uk/Business_economics/Banking+regulation.html accessed 15th April 2011 [28] ‘Bank regulation failed – Lords Committee’ (moneyfacts 2nd June 2009) http://moneyfacts.co.uk/news/economy/bank-regulation-failed-lords-committee/ accessed 16th April 2011 [29]   DK Tarullo, ‘Banking on Basel: The future of International Financial Regulation (1st edn, The Peterson Institute For International Economics, 2008) 141-143 [30] Introduced the Banking Act 2009 [31] F J Cardim de Carvalho ‘Basel II:   A critical assessment’,(March 2005) 19 ie.ufrj.br/eventos/seminarios/pesquisa/basel_ii_a_critical_assessment.pdf accessed 26th April 2011 [32] The Times Online, ‘Bankers to blame for the economic â€Å"mess† ‘   (The Sunday Times 28th   February 2008) http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5820951.ece accessed 16th April 2011 [33] ‘Causes and costs of a global financial crisis’ (The Sunday Times 2nd October 2008) timesonline.co.uk/tol/comment/letters/article4862921.ece accessed 16th April 2011 [34] F J Cardim de Carvalho ‘Basel II:   A critical assessment’,(March 2005) 19 ie.ufrj.br/eventos/seminarios/pesquisa/basel_ii_a_critical_assessment.pdf accessed 26th April 2011 [35] D K Tarullo, ‘Banking on Basel: The future of International Financial Regulation (1st edn, The Peterson Institute For International Economics, 2008) 178 [36] E Ferran, K Alexander, ‘Can soft law bodies be effective? The special case of the European Systemic Risk Board’ (2010) ELRev 35(6),   761 http://login.westlaw.co.uk/maf/wluk/app/document?src=rlsrguid=ia744d05e0000012fd0dd7691146455a0docguid=I1E797CE008C611E0A451F66F817AC0EEhitguid=I1E797CE008C611E0A451F66F817AC0EEspos=1epos=1td=4crumb-action=appendcontext=9resolvein=true accessed 26th April 2011 [37] D K Tarullo, ‘Banking on Basel: The future of International Financial Regulation (1st edn, The Peterson Institute For International Economics, 2008),178 [38] O JACOBSOHN, ‘Impact of Basel II on the South African banking system’ (2004) Magister Commercii in Business Management Rand Afrikaans University, 72 http://ujdigispace.uj.ac.za:8080/dspace/bitstream/10210/273/1/Dissertation7.pdf accessed 1st May 2011 [39] J Vinals ‘Procyclicality of the Financial System and Regulation’ Speech at the conference on Managing Procyclicality of the Financial System, Hong Kong, (22nd November 2004) bankofspain.org/webbde/es/secciones/prensa/intervenpub/archivo/vinals/relaci221104.pdf accessed 20th April 2011 [40] International Monetary Fund, ‘Will Basel II help prevent crisis or worsen them?’ Finance Development (June 2008), 30 imf.org/external/pubs/ft/fandd/2008/06/pdf/saurina.pdf accessed 1st May 2011 [41] International Monetary Fund, ‘Will Basel II help prevent crisis or worsen them?’ Finance Development (June 2008) 31 imf.org/external/pubs/ft/fandd/2008/06/pdf/saurina.pdf [42] The Basel III Accord basel-iii-accord.com/ accessed 6th May 2011 [43] E Feess and U Hege, ‘The Basel II Accord: Internal Ratings Approach and Bank Differentiation’, CFS Working Paper no 2004/25, 27 ifk-cfs.de/fileadmin/downloads/publications/wp/04_25.pdf accessed 5th May 2011 [44]   F Roger Jnr, ‘Basel II: discussion of complex issues’. BIS Review 08/2003 bis.org/review/r030623a.pdf accessed 5th May 2011 [45] O JACOBSOHN, ‘Impact of Basel II on the South African banking system’ (2004) Magister Commercii in Business Management Rand Afrikaans University, 73 http://ujdigispace.uj.ac.za:8080/dspace/bitstream/10210/273/1/Dissertation7.pdf accessed 30th April 2011 [46] R Lall, ‘Why Basel II failed and why Basel III is doomed’, (October 2009),GEG Working Paper 2009/52, 10 globaleconomicgovernance.org/wp-content/uploads/GEG-Working-paper-Ranjit-Lall.pdf accessed 21st 2011 [47] D Coskun, ‘Credit-rating agencies in the Basel II framework: Why the standardised approach is inadequate for regulatory capital purposes’ (2010 )JIBLR 157-169 [48]E Fournier, ‘How Basel Should Change’, 28 IFLR 16 2009-2010, 17 [49] J Kollewe and G Wearden ‘Basel III: the main points’ (guardian.co.uk 13th September 2010) guardian.co.uk/business/2010/sep/13/basel-iii-the-main-points accessed 21st 2011

A study and importance of extra curricular activity

A study and importance of extra curricular activity Extra-curricular activity is a non-academic activity. It is as part of developmental modules which can make the students think from a rather plain point of view of themselves and the world around them. This can be obtained by their learning process and experiences from the activities that they had joined. Nesan D., as been mentioned in the article of Co-curricular activities in school (2009) stated that, more specifically, from joining these extra-curricular activities, students can perform better in the internal and external skills such are self acceptance, self esteem, sexual orientation, career goals and others. A.Rahman Z. Ahmaed M. (n.d) in the article of Curriculum planning, development and reform by the country’s educational goals are manifested in the Malaysian National Education Philosophy (NEP),said that, â€Å"Education in Malaysia is an on-going effort towards further developing the potential of individuals in a holistic and integrated manner so as to produce ind ividuals who are intellectually, spiritually, emotionally and physically balanced and harmonious, based on a firm belief in and devotion to God. Such an effort is designed to produce Malaysian citizens who are knowledgeable and competent, who possess high moral standards, and who are responsible and capable of achieving a high level of personal well-being, as well as being able to contribute to the betterment of the family, the society and the nation at large†. Mostly when talk about extra-curricular, what came out from our minds are activities that related to the extra-curricular that we had been forced to join during our primary, secondary school such as Cadet Police, Puteri Islam and others. Unforgettable during our university life, we have been provided with one day which was named as extra-curricular day. At that day, all activities such as hockey club, swimming club, equestrian club and many more are been carried out. But, we have to realize, because extra-curricular is not limited to the activities that are only related only to clubs and uniformed bodies. Societies such Students Representative Council, Committee of College Students and so on are also categorized as extra-curricular. Even when you are active in certain particular clubs under college you are involve in extra-curricular. Actually there are three main types of co curriculum, first is society. Society can be classified as an organization or club for students who have specifically interest in specific activity. Second is uniform bodies, as I have mentioned above, is an organization that involved same uniform that they wear as their identity. Last is sport and games, this is the most popular one which involved students to spend time for fun as can maintain a good health. Some students like to join many extra-curricular activities, but other students do not. Therefore, their level of involvement in the extra-curricular activities limited to the desired and willingness of themselves. Then, from here, we have to remember, there are also pro’s and con’s when you are being active in extra-curricular. Benefits when you are joining this extra-curricular activities such are you get a chance being a leader, you can test how far your management skills, other than that, you can know how smooth you manage your time, the ability to handle stress, task delegation, decision making , carrying out meetings and many more. A part from that, bear in mind that, in any advantages, there are always disadvantages, there for, problem such as failure in managed time will lead to imbalance on academic. Through this research, we can know how far being active students can affect your academic performance. Whether it give negative or positive impact towards your studies performance. Because, different students give different academic performance.

History and Organizations of Project Management Essay

History and Organizations of Project Management - Essay Example How did the PM go from 0 to the speed of light in the last few years? Well, technology has surely paved the way, but cooperation among PMs has been the key to understanding the critical need to communicate and integrate work across multiple departments and professions. One of the earliest uses of technology in the field of PM was the introduction of the Gantt Chart. This simple visual aid was introduced in 1917 while Henry Gantt studied the management of Navy ship construction during WWI (The history of project management). Gantt charts, still used today, were complete with task bars and milestone markers and were useful in the scheduling of project duration and manpower. Gantt charts remained a powerful mainstay of the PM profession and according to The history of project management have, "[...] remained virtually unchanged for nearly a hundred years.". Yet, throughout this period some other innovations were taking place. During the 1950s, the Cold War military was making huge demands on technology. Admiral Raborn of the U.S. Navy was responsible for getting the Polaris Missile program operational as quickly as possible (Theory of constraints, 2006). They turned to a man named Williard Fazar and with his help, they developed the Program Evaluation and Review Technique (PERT). PERT was an improvement on an earlier system called CPM that failed to manage random time variations that were critical to the Navy. PERT improvement was able to account for these complex variables and became a network model that allowed for randomness in activity completion times (PERT Chart, 2006). The next four decades were a little boring for Project Management. Some writers introduced radical new theories such as the 1960s book by Johnson, Kast, and Rosenzweig called The Theory and Management of Systems, which compared a modern business to a human organism (Theory of

Human Growth and development Essay Example | Topics and Well Written Essays - 250 words - 2

Human Growth and development - Essay Example Psychiatric evaluation of the parents of the infant should also be undertaken. History of behavioral problems such as delinquent behaviors, criminal cases, and substance abuse should also be checked in the family history since it had been determined that problematic behaviors are partly genetic. Determination of possible learning disabilities is also important to be able to be prepared for the time when the child needs to start education. There are other aspects that should be considered in adopting an infant such legal and social aspects. But the health and developmental factors related to the infant itself should be the primary consideration. In adoption of an infant, the adopting parents should have the proper attitude and preparedness. They should consider all the factors related to the health and capacity of the child. If they decide to overlook perceptible problems related to the health and behavior, based on family history, the future parents should be ready for possible conse quences since adoption is a lifetime decision.

Response for Case Datril Essay Example for Free

Response for Case Datril Essay 1) What course of action should Datril take? It should solidify its position in the analgesic market and gain share in the rapidly growing acetaminophen market. It should target both Tylenol Users and Aspirin Users. On one hand, it should explain to customers that Datril’s effect is identical to Tylenol and use low-price promotion. On the other hand, it should leverage Bristal-Myers’s name to facilitate its market penetration. Generally, it should focus on advertisement and promotion. 2) What are the pros and cons of targeting Tylenol Users? Pros: Datril is a substitute of Tylenol, but compared to Tylenol, it’s cheaper. Besides, Tylenol almost controls the market of acetaminophen and it controls nearly the whole potentials customers for Datril. Cons: Tylenol dominated the acetaminophen market for a long time. On one hand, many customers have strong loyalty to Tylenol. On the other hand, since it’s a new drug, many people neither know it nor trust it, Datril has to spend a lot of time and money in advertisement. Besides, its effect is identical to Tylenol, which means in quality it doesn’t have any advantages over Tylenol. In this way, low price becomes a big attraction for customers. But the low-price strategy means lower profit per unit. 3) What are the pros and cons of targeting Aspirin Users? Pros: Datril’s effective element is acetaminophen, which has the same function as Aspirin but less side effects. In contrast, acetaminophen analgesics raised the pain threshold and reduced fever without having the anti-inflammatory effect of aspirin, thus meeting the needs of people who suffered from upset stomach. The data shows that acetaminophen’s market almost doubles while Aspirin’s only increases by 9%. It means that more and more people prefer to use acetaminophen. Targeting acetaminophen users apparently is a very promising action. Cons: Datril, Bufferin and Excedrin all belong to Bristal-Myers. And Bufferin and Excedrin are both very successful leading brands in Aspirin market. Datril absolutely can borrow some positive association from these two brands if Bristol-Myers tries to leverage its name to facilitate Datril’s rapid market penetration.

President Woodrow Wilson Essay -- Biography Biographies Woodrow Wilson

President Woodrow Wilson Woodrow Wilson was the first Southerner to be elected president after the Civil War. Born on December 28, 1856 in Staunton, Va., he was the son of a Presbyterian minister who supported the Confederates. Wilson assumed the presidency after a whirlwind career as a college professor, university president and New Jersey governor. However, Wilson left the Oval Office just as heartbroken as the Confederate soldiers that returned home when he was a boy. Woodrow Wilson was born as Thomas Woodrow Wilson – the son of Janet Woodrow and Joseph Ruggles Wilson, a Presbyterian minister. Thomas began using the first name of Woodrow in 1881 to honor his mother’s side of the family. Although Wilson would become a talented writer and esteemed professor, he did not learn to read until he was 9-years-old and was a backward child. He was more interested in daydreaming than studying. He was admitted to Columbia’s First Presbyterian Church in 1873 – the same year he entered Davidson College in North Carolina. Wilson was deeply religious throughout his life. He enrolled at The College of New Jersey (now known as Princeton University) in the autumn of 1875. There, he pursued an interest in debating and journalism, becoming managing editor of the Princetonian in 1876. He became the paper’s chief editor and was also elected to athletic associations. Wilson came into his own during the magical years at Princeton and was interested in politics even then. In an article entitled "Cabinet Government in the United States" that was published in The International Review when Wilson was a senior, he wrote, "Congress is a deliberative body in which there is little real deliberation. A legislature which legislates with no real discus... ...the Senate refused to accept the Treaty of Versailles. Wilson, for his part, refused to resign because of his sickness. Despite America’s refusal to sign the peace treaty, Wilson was awarded the Nobel Peace Prize of 1919. He finished his term and left the White House on March 4, 1920, moving to a nearby home on S Street. Despite his poor health, Wilson did what he could to lobby for the league in retirement. In May of 1923, he sent in essay entitled "The Road Away from Revolution" to the Atlantic Monthly. He described it as an "essay in the form of a challenge." It addressed capitalism and the Russian Revolution and was enormously painful for him to write. Surprisingly, Wilson outlived his successor, President Warren Harding, who died while in office. Wilson died on February 3, 1924. He remains one of the most controversial presidents the United States has ever had.

Life, Liberty, and the Pursuit of Happiness

? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? 17109201 ? ? ? ? ? ? ? ? ? ? ? ? ? 2012. 1. 5 Life, Liberty, and the Pursuit of Happiness ——A Probe into the Character of Emily A Rose for Emily is a short story written by American author William Faulkner first published in the April 30, 1930 issue of Forum.It describes the tragedy of a typical southern lady, Miss Emily, who is deeply victimized in her character and mind by the conventional system of the South and patriarchy; thus even though she wants to fight, she still fails to confront and deal with the changes caused by the shock of northern industrialization all by herself and finally leads to destruction and self-destruction on the way of pursuing happiness.This essay concentrates on exploring the character of Emily with the efforts she has made for her life and especially the reasons for her failure in â€Å"fighting† from the three aspects as Life, Liberty, and the Pursuit of Happiness, (the well-known phrase applied from the United States Declaration of Independence). 1. The Backup of Early Life As a descendent of the southern conventional noble family, Emily was born in the environment full of the thought of feudalism and hierarchy which makes her acquire not only the attitude of arrogance and indifference to common people, but, most importantly, the habit of obedience to her father.Before her father dies, he is the only one Emily could rely on in her family. Therefore, there should be no blame to her that she depended on her father when she was still young, just as most of us would depend on our parents during our childhood and youth. However, the fact the she gets to be thirty and is still single reveals the abnormality of the dependence. Actually, it is no longer pure dependence on her father. Instead, the dependence has developed into over obedience which then is taken advantage of by her father to control her completely under the constraint of the old southern tradition.The control is ju st described by William Faulkner as the tableau, â€Å"Miss Emily a slender figure in white in the background, her father a spraddled silhouette in the foreground, his back to her and clutching a horsewhip, the two of them framed by the back-flung front door†. The father, a typical symbol of patriarchy, clutching a horsewhip, acts as a tyrant. It’s him who holds the Griersons always a little too high for what they really are and uses his horsewhip, which exactly symbolizes patriarchy, to beat off all of the young men who come to make proposals to his daughter, Miss Emily, believing that no one is quite good enough for her.In fact, in his opinion, none of the young men are quite good enough not for his daughter, but for the old southern tradition and its dignity. He never regards Emily as an independent individual. On the contrary, he regards her as the tool to maintain their dignity in the conventional system. However, Emily has been regarding her father as the whole b ackup of her life since she was born. What’s more, she has been in this state for more than thirty years. She has long been used to this dependence and even allows this kind of dependence to conquer her strong desire for free life and love. To her, this dependence is just her whole life.Therefore, when her father dies, she cannot accept the fact because her father is her whole dependence and the dependence is just her whole life. Her father’s death has also deprived all the hope of her life. Her father and the old tradition her father represents are the root of Emily’s tragedy; thus, her father’s death should be regarded as the chance for Emily to free herself from the constraint of the conventional system. It’s the beginning of Emily’s fighting for her own life, liberty and happiness. 2. Liberty Getting rid of her father’s control is just like releasing from a prison.After a long time of being sick, she is seen again with hair cut sh ort and looks like a girl, which declares the beginning of her liberty. However, Faulkner describes her as resembling to those angels in colored church windows—sort of tragic and serene. The word of â€Å"tragic† seems to have indicated the sad ending of Emily’s life even though she has the chance to gain liberty. And the reason lies on Emily’s wrong interpretation of liberty. From the description by Faulkner, after her father’s death, the character of Emily appearing before the readers is still such an arrogant and indifferent person typically symbolizing the old tradition.It is clearly known by the readers that actually Emily never frees herself from the fetter of the conventional system even though she has gotten rid of her father’s control. However, Emily sees her liberty from a different angle. To her, liberty means to live in a way she has long been used to at her own will. Since her father died, nobody and nothing can ever take her un der control any more. Therefore, she ignores all the others’ denouncing the smell of her house, vanquishes the new generation’s demanding her taxes and rejects the newer generation’s attaching a mailbox.She still carries her head high enough—even when others all believe that she is fallen, because the way of living she has been used to is just to maintain dignity as much as she can in the environment of the old southern tradition. She refuses to free herself from the conventional system because it’s the very place she feels relatively free. In contrast, the new world with all those changes caused by the shock of northern industrialization is where she will feel unsafe, uneasy and uncomfortable.Similarly in the film The Shawshank redemption, the two people, the old log, Brooks, and one of the protagonists, Red, have much difficulty in adjusting themselves to the life outside after they get their parole from decades of imprisonment. Brooks even commi ts suicide and Red can never pea unless asking for permission. And Emily has also been imprisoned for more than thirty years which has made her long ago assimilated by the old tradition. Emily has made efforts for her life and liberty after her father’s death. Unfortunately, she interprets her liberty in the way which is against the development of the new world both in aterial and spiritual aspects. And her false interpretation is still due to the over thirty years’ imprisonment of patriarchy and the conventional system of the South. 3. The Pursuit of Happiness Even though the living style has been assimilated by the convention, there is still something that everyone is born with including Emily. That is the desire for happiness. Emily lives in her own old world but all alone. She earns liberty but lacks happiness. Therefore, when Homer Barron shows up, she believes that he is the source of her happiness and makes up her mind to grasping the slight of hope.However, the chance of gaining happiness is ruined again by the conflict between her old world and the shock of northern industrialization. What’s worse, finally she leads to the road of destruction and self-destruction by her extreme desire resulting from patriarchy and the old tradition’s severe oppression Homer Barron, a Yankee, comes from the north and symbolizes the northern industrialization, which is definitely against the old tradition and even some basic principles of Emily’s own old world such as the feature of dignity. But on the other side, he seems to Emily the hope for her happiness.As a woman oppressed by spiritual loneliness for such a long time, the desire for love and happiness is strong enough to for Emily to conquer the continual restraint of conventional hierarchical thought. As a result, she goes out of the old house, which symbolizes the convention, with her head high and together with Homer Barron with his hat cocked and a cigar in his teeth, reins a nd whip in a yellow glove driving in the glittering buggy on Sunday afternoons. She even decides to marry him by buying a complete outfit of men’s clothing regardless of all the objects and conflicts.During this period, she has gradually become deeply trapped in the love and happiness with Homer Barron. She has been oppressed by patriarchy and the southern convention for more than thirty years, and now the love she is experiencing is so unique and incomparable that it has become the whole happiness of her life and that it is impossible for her to let it go. If Homer Barron isn’t going to leave her, then the love and happiness will certainly continue. However, as the symbol of northern industrialization, Homer Barron holds a completely opposite attitude towards the relationship with Miss Emily.He just regards it as a pure way of entertainment without any responsibility, which is a sharp conflict between not only Homer and Emily, but also the morals of northern industria lization and the old southern convention. Under the pressure of the conflicts and the long-term victimization by patriarchy and the convention, Emily’s character and mind has been completely deformed. In the end, to prevent the happiness from disappearing, Emily takes drastic measures as killing Homer and let the body stay with her forever so that her love and happiness will also never leave.This measure finally destroys her whole life and leaves her a complete tragedy as well as Homer Barron. In this extraordinary short story, the character of Emily William Faulkner created has made some efforts to earn her own life and liberty and even persist in the pursuit of happiness. However, her life is based on patriarchy and the conventional system of the South for more than 30 years; the liberty she goes after is still trapped in the old tradition; and her pursuit of happiness comes across the conflicts between the southern old tradition and the shock of northern industrialization. All of these negative factors lead to the final tragic destruction. References Olga W. Vickery. The Novels of William Faulkner: A Critical Appraisal [M]. Baton Rouge: Louisiana State University Press, 1964 Fang Yigui [ ]. [J]. ,2007 1 Liu Aiying [ ]. [J]. ,1998 2 Liu Zhuo [ ] & Peng Changliu [ ]. : [J]. ,2004 5 Wang Minqin [ ]. ?< > [J]. ,2002 2? ,? 66-69 Xiao Minghan [ ].  ·. : ,1997?

Admission to a Doctorate of Psychology

If necessity is regarded as the mother of invention, I consider necessity as the driving force that inspires and awakens us to be a man for others. We fail to open the doors of our hearts and listen to the woes of those in need due to our inability to decide on the things that we can do to improve the lives of people around us.Our reluctance to extend any assistance may also be a result of our failure to consider the value of the things that we are capable of doing. Life is not solely dependent on the material resources that we can give. The act of extending our selfless love, time, talents, skills and other resources are too valuable to ignore.One of my renowned accomplishments manifested my organization skills, self-confidence, ability to work under pressure and meet challenges, and to remain optimistic in achieving a goal.While I was in the Marine Corps, I was tasked to be the Pay Chief. Although the position requires a person to have at least ten years of work experience, I was t rusted to be the head of the section while working for only two and half years in the military. When I was assigned in the department, I discovered that the pay-roll auditing task was behind by three years.When a pre-inspection was made in our department, we were informed that there is a need to update the current records to reflect all the payroll transactions that were made during the last three years for 4,000 Marines. Normally, the completion of the task would require three years of forty-five minutes to eight hours of work each day by each person who was assigned in the department.However, we were only given eighteen months to complete the task. Initially, we all felt that accomplishing the task would require a miracle. However, I managed to motivate my people and to exemplify hope amidst our insurmountable challenge. We all worked overtime and maintained our focus to reach our goal.At the end of the eighteenth month period, we were able to update the payroll record and meet th e expectations of our superiors. My hard work was also rewarded when I was given the Navy and Marine Corps individual achievement medal for going beyond and above the call of duty of the U.S Marine Corps, Navy and U.S. government. This award was usually given as a unit award to most Marines and Sailors.My weakness is reflected in my inability to extend my patience to people whom I could only talk to over the phone. It is easier for me to settle disputes or to handle people as long as I meet them in person. Although a person may be reserved or silent, one can easily interpret a facial expression or body language.Unlike in most phone calls that I have handled as a Customer Care for Wyndham Hotel Group, I could only read a person’s feeling through the tone of their voice. In my current job, I deal with owners and managers of hotels. Most of them call and complain about issues that they are already fully aware of based on the information that are posted in the website. Since the owners of the company are practicing transparency, it is my task never to conceal nor withhold any information from the franchise investors.As a customer care representative, I counsel owners and managers about the hotel’s day to day operation and keep them updated on the current status of the hotel. The job has taught me to understand and empathize with the owners whose main concern is to know where their hard earned money is going and if their investments will yield a good return of investment.My array of blue and white collar jobs have prepared me to acquire the skills that will allow me to be flexible and compassionate to people who came from all walks of life. It is also in my exposure that made me realize the need to help the men and women in uniform who have risked their lives in fighting for our country.My passion to be of service is too strong to resist. Hence, I organized my life and decided to take a Bachelor’s degree in Psychology in spite of my lucrative b usiness venture in real estate. After getting my college diploma, I intend to take a Doctorate degree in Clinical Psychology and specialize in the treatment of Post Traumatic Stress Syndrome. Since I have directly witnessed the trauma and stress that my uncle has experienced as a result of the war in Vietnam, I can empathize with the soldiers and their families who are also suffering from the effects of their battle in a war zone environment.When I become a certified Clinical Psychologist, I will enlist in the U.S. Navy and address the need of people who are emotionally and psychologically suffering from the trauma of war and terrorism. Helping our soldiers heal from within will restore them into a life where they can be productive and fully functional in a war-free environment. Restoring the lives of our soldiers has a positive impact in our society in general and to the service members’ families in particular.When these people have recovered from the trauma and stress of wa r that are affecting their lives, they will be individuals who are capable of contributing to the growth of our nation. In addition to being able to work and raise their own families, their loved ones will be relieved from the burden of coping with the daily mental and psychological stress of a family member who has experienced the trauma of war.I believe that my optimism, empathy, determination, logical thinking ability, sensitivity to the needs of others, ability to pay close attention to what people are saying and my ability to cope with pressure and challenges will help me succeed as a clinical psychologist.

Symbols and Special Characters in Microsoft Word

Symbols and Special Characters in Microsoft Word Symbols and Special Characters in Microsoft Word Your average keyboard has enough letters, numbers, and punctuation marks for all your day-to-day typing needs. But what if you need symbols or special characters that aren’t on your keyboard? Well, in Microsoft Word, you have three main options: Use the Symbol menu. Learn some ASCII codes. Use Microsoft Word’s special character shortcuts. In the rest of this post, we’ll look at how to do each of these in your writing. 1. Using the Symbol Menu To see the Symbol menu in Microsoft Word, go to Insert Symbols on the ribbon and click the Symbol button (or Insert Advanced Symbol Symbols in the menu system in Word for Mac). Quick access symbols. This will open a quick access menu of 20 frequently used symbols to pick from. However, you can also access the full range of special characters in Microsoft Word as follows: Go to Insert Symbols and click Symbol to open the menu. Click More Symbols†¦ to open a new window. Scroll through until you find the symbol you want to use. Click Insert to add the symbol to your document. The full range of special characters in Microsoft Word. The symbol will then appear in your document at your cursor. Microsoft Word will also add it to the quick access menu, saving your time if you need to use the same symbol again. 2. ASCII Codes ASCII codes each indicate a different symbol, so you can use them to add special characters to a document quickly via the numeric keypad: Learn or look up the correct ASCII code for the symbol(s) you need. Turn on Num Lock on your keyboard to activate the numeric keypad. Hold down the Alt key and type the required code. The corresponding symbol will then appear at your cursor position. 3. Shortcuts for Special Characters For some special characters, your simplest option is to let Microsoft Word do the hard work! There are, for example, shortcuts available for the following common symbols: Special Character Shortcut Autocorrect Option Trademark symbol (â„ ¢) Ctrl + Alt + T Write â€Å"TM† in parentheses Registered trademark symbol ( ®) Ctrl + Alt + R â€Å"R† in parentheses Copyright symbol ( ©) Ctrl + Alt + C â€Å"C† in parentheses Closed Ellipsis (†¦) Ctrl + Alt + . Three full stops without spaces Euro (â‚ ¬) Ctrl + Alt + E â€Å"E† in parentheses You’ll notice we’ve included an â€Å"autocorrect† version for each symbol above. In these cases, Microsoft Word will automatically correct the specified text to create the symbol. For example, to add a trademark symbol to a document, we have two options: Hold down Ctrl + Alt + T at the same time. Write â€Å"(TM)† and let Microsoft Word change this to the symbol. These shortcuts are very quick and simple, so it is worth memorizing them if you use any of these symbols frequently. Similar shortcuts are also available for accented letters.

Progress report final assignment Essay Example | Topics and Well Written Essays - 2000 words

Progress report final assignment - Essay Example The net effect of this nervousness among lenders and creditors is to drive interest rates up in order to partly compensate for the higher risks involved (not getting repaid). Another consequence is people who have money would rather put or park their funds somewhere safe in super-safe Treasury Bills (or T-bills) guaranteed by the government instead of investing them. This lack of confidence in the economy and the future prospects of how well everyone will be doing are putting a squeeze on available credit. The credit crunch has worsened into a credit freeze in which it is now virtually impossible to borrow money. The net effect will be a continued slowing down of the economy and creates a vicious downward cycle in terms of the jobs lost, reduced tax revenues and so on. More ominously, a credit crunch affects everybody alike but the poor and working classes are adversely affected more than anybody. This results in a nation of people with reduced expectations about their standard of li ving. It means people will have to content themselves with less because a credit freeze leads to reduced economic activities which could have helped to spread and re-distribute wealth around. A credit crunch means negative consequences for almost everyone (Herbert, 2011:1). Table of Contents Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.......1 Discussion......................................................................................................................3 A. Different ways on how a credit crunch impacts on individuals....†¦Ã¢â‚¬ ¦....................4 A.1. Jobs and Employment Prospects†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....4 A.2. Higher Interest rates for Everything...............................................†¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 A.3. Reduced Savings and Pensions...............................................................................5 A. 4. Increasing Number of Home Foreclosures....................................†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 B. Brief Overview of the Asset Price Bubble Phenomenon†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.......6 C. Failure of the Free Market Economy..........................................†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...6 C. 1. Sudden Price Increases in an Asset Class......................................................†¦Ã¢â‚¬ ¦6 C. 2. Central Bank Approaches to Mitigate Asset Bubbles†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....7 D. Preparing for a Credit Crunch†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦................7 D. 1. Gather Enough Savings.................... ..............................†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....†¦Ã¢â‚¬ ¦7 D.2. Augment your Regular Income...............................................................................8 D.3. Look for Profitable Investment Ventures................................................................8 D.4. Be Financially Conservative...................................................................................8 D.5. Be Financially Literate............................................................................................9 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.......9 Bibliography..............................................................................................................10-12 Discussion Ordinary people may not know much what a credit crunch is about or

Human Resource Management Essay Example | Topics and Well Written Essays - 3000 words - 16

Human Resource Management - Essay Example Implementation of organization policies, employee activities, and decision made by HR managers affect outcomes. The outcome is thus determined by the ability of the human resource management to make appropriate decisions. This paper focuses on steps in the strategic human resource management process. The paper will use TESCO as an example to illustrate and discuss three theoretical perspectives on the nature of HR strategy and demonstrate how the contribution of people to the organization might be understood and enhanced. In the late 1980’s, organizations realized the crucial role of employees as a capital asset in achieving the organizational goal. This led to identification of human resource management practices such as recruitment, training, and career development as significant in enabling an organization to compete effectively. In the contemporary world, organizations are increasingly acknowledging the significance of strategic human resource management. Organizations are taking human resource management practices more seriously due to the realization of the importance of humans in organization success. Strategic human resource management entails creating an appropriate work environment to ensure that employees perform their best toward achieving the organizational goals. Strategic human Resource Management is part of HRM that focuses on issues that affect people working within an organization. Strategic human resource management is beneficial to an organization since it leads to increase in skills possessed by employees by equipping them with the knowledge to deal with problems that arise within and outside the organization but affect the organization. Moreover, it leads to increased competitiveness of an organization. Additionally, strategic HRM encourages organization to develop dynamic organization structures and create more complex business environment to continue competing