Subprime Crisis Essay Example | Topics and Well Written Essays - 750 words

Subprime Crisis - Essay Example In layman's terms, they use the supposed income from these mortgages as their collateral in their other investments. The banks were hoping that with the prime rate on the upward trend, they could make considerable gains on the basis of that hypothetical margin of profit. The problem began when the bubble burst and the prime rate skyrocketed so much to the point that the people were no longer capable of paying their mortgages. The financial institutions who were counting their immense profit lines on paper were suddenly left holding the bag, left saddled with numerous foreclosed properties that were both unloadable and prone to depreciation. Haunted by serious liquidity issues arising from this maelstrom, a lot of these lending institutions have been rocked to the very core. Some have even declared bankruptcy, the most notable being former investment powerhouse Bear Stearns, the 5th largest investment house in the nation. In the IMF's recent report, it is illustrated that the global level of aversion from an emerging market, macroeconomic, and credit risk standpoint has increased exponentially from the previous year. This is highly indicative of the ripple effect emanating from the U.S. housing crisis. In addition, the prices of U.S. mortgage-related securities have plummeted from a high of roughly $100 a share in 2006 to less than $20 in 2008, causing billions of dollars in equity losses. With no liquid equity, these institutions are hard pressed to back individual mortgages, which in turn perpetuates the crisis. The cold, hard facts do not paint a rosy picture on the global scale. Average housing market prices have tumbled accordingly, with the United States and United Kingdom embroiled in a rapid downward spiral. The rest of the Europe is holding, but even there the downward trend has already started over the past two years. Just when did the housing boom originate Fueled by a favorable prime rate and the advent of poorly underwritten, predatory loans, commercial mortgage borrowing reached historically high levels in the 2nd quarter of 2005. Over $400 billion worth of loans were underwritten, a good percentage of which has fell into default as of 2008. The effects of these massive defaults are momentous; during the 1st quarter of 2008 estimated losses from defaulted loans have already reached the $130 billion plateau for banks, and roughly $500 billion overall with no relief in sight. Over the next few years losses are expected to reach the $900 billion mark, and banks and financial institutions everywhere are scrambling just to keep their head above their water. While recent Federal Reserve initiatives to bail out financial institutions reeling from the crisis are admirable, its lukewarm reception can be attributed to a prevailing notion that it is just too little, too late. With mounting losses expected in the coming months, we can only hope that the country would survive this catastrophic downturn which has rendered even more losses than the infamous Asian financial crisis of the 90's.With capital markets running dry and a high propensity towards risk aversion, one can only hope that the government and the Federal Reserve will put forth dynamic stimulus programs to bail out this badly

How to Not Get Your Head Ripped Off By a Bear Essay Example for Free

How to Not Get Your Head Ripped Off By a Bear Essay Please be aware before you read that if you have already encountered a bear and had your head ripped off then this will be at no help to you and you should stop reading now. To those of you that are reading this for entertainment, I want to ensure you that bear attacks are a serious matter and many of you walk through the woods not knowing what dangers await you. The horrifying truths of the woods start with bear attacks. You may think they are rare now, but in reality bears are large hairy monsters just waiting for a chance to rip your head off and lurk through your trashcans. I hold right here the steps of survival and the tools you will need to not get your head ripped off. If you continue to read then please follow every step accordingly and do not wonder off or skip a step. The first thing you need to know is the tools to not get your head ripped off by a bear. The first thing you must never forget is a cool head. I am not saying to stick your head into a freezer for one hour and walk around in the woods. A cool head simply means to stay calm. When you see the ferocious bear you will want to run off screaming like a little girl, which will result in you tripping over your own two feet and getting your head ripped off. The second tool you will need is extremely good acting skills. If you can outsmart your dumbest friend, then you sure can outsmart a bear. If you need some help on your acting I am sure you can go to Books-A-Million and buy Breaking into Acting for Dummies for only about $16.00. The last tool you will need is a new pair of underwear. When even the biggest man faces this beast he will not be able to hold the pee in. Don’t be embarrassed of the new wet spot that surrounds that area, because it is completely normal and we all understand. Some optional tools you might want to consider is a killer right hook and a large, abnormal pet that can eat the bear. Now that you know the tools of not getting your head ripped off by a bear, you now need to learn the process. You are now walking through the woods and you look to your left and see a large bear. Luckily, he is too busy scratching its butt on the tree to notice you. You need to back away slowly and step very soft upon the leaves crushing underneath your feet. Make sure you also look behind you will walking backwards in case a tree limp inches itself in your way and trips you causing a loud noise. Once you are out of the bear’s sight, choose a comfy sitting spot and stay put for about thirty minutes. I recommend you singing Baby by Justin Bieber so that the bear knows you are there, and when it chooses to leave and it will most likely avoid you simply because you are singing that song. Also avoid eating at all costs. You may want those sweet and salty peanut butter crackers in your bag, but the bear will smell them and will charge after you wanting the food. This will result in you getting your head ripped off. If you think that the coast is clear and you are ready to resume your walk, stand up slowly looking around you. I recommend singing Friday by Rebecca Black just to make sure no bear while come within singing distance of you. Even the bears understand how repulsing that song is and will run away crying if the tune even rings in their ears. But even though you sang the song, you are the unlucky person on this day that runs into a bear still. In this particular situation, do not make eye contact. The bear will take the eye contact as a direct threat to his authority and he will rip your head straight off your body. This time he might even take the opportunity of ripping your arms off as well. Instead, back away from the bear very slowly and speak kind words. For example, try saying that he looks extremely handsome today or maybe try telling him that you are just an innocent person and do not mean any harm. I am sure he can hear everything you say perfectly. Remember to avoid eye contact. Tip: Now would be a great opportunity to make sure you are right with God. Oh no! The ferocious bear has started charging at you. Whatever you do, do not think you can outrun the bear. He may be 365 pounds of pure meat, but he will chase you down and automatically rip your head off. So the best thing you can do in this situation is to stand perfectly still like you have been frozen solid. When the bear hopefully stops charging, try backing away slowly and singing I Will Survive softly to the bear. If you have followed all these steps perfectly and for some reason this bear is out to get blood, then quickly curl up in a ball. Protect your head with your arms so that he cannot just swipe your head right off. Now this is when the optional tool of a killer right hook comes in. If you can, try using your special tool and knock that bear right in the nose. He will feel the authority you withhold and walk right on with his business, like catching fish or maybe even attacking another human or their trashcan.

Charles Yale Harrison’s Generals Die in Bed vs Colin McDougall’s Execut

Charles Yale Harrison’s Generals Die in Bed vs Colin McDougall’s Execution As with any genre, all novels termed ‘war stories’ share certain elements in common. The place and time settings of the novels, obviously, take in at least some aspect of at least one war or conflict. The characters tend to either be soldiers or are at least immediately affected by the military. An ever present sense of doom with punctuated moments of peace is almost a standard of the war novel. Beyond the basic similarities, however, each of these battle books stands apart as an individual. Charles Yale Harrison’s World War I novel, Generals Die in Bed is, in essence, quite different than Colin McDougall’s Execution. Coming years earlier, Generals can almost be seen to hold the wisdom one would expect see in an older sibling, while Execution suffers the growing pains that the younger child inevitably feels. Most war novels center on themes of valor and heroism. Some concentrate on the opposites of these virtues in an attempt to display raw realism. Harrison, right from the beginning of his novel, shows us both. The narrator of this first-person narrative paints a picture of a totally un-heroic bunch of soldiers preparing for debarkation. The drinking and debauchery are followed the next morning by a parade that the suffering soldiers must march through, while the people watch their ‘heroes’ leaving to bravely fight the good fight. While this clearly demarcates the innocent civilians from the savvy soldiers, it also shows the reader that the narrator is going to try to tell the real story. Execution starts with what is seemingly a journal entry, implying that it will be a first person narrative much the same as Ge... ... enough contrasts between them that allow them to stand out as completely individual from one another. Each of these novels, then, is able to both expand upon the other, while being free in its own expression at the same time. Works Cited Harrison, Charles Yale. Generals Die in Bed. Waterdown: Potlatch Publications, 1999. Lenoski, Daniel S. â€Å"Morning Glory: Execution and Romance.† American Review of Canadian Studies. Volume 23 (1993): 387 – 406. Mason, Michael A. â€Å"Execution: Heroism in a Modern War-Novel.† English Studies in Canada. Volume 5 (1979): 94 - 104. McDougall, Colin. Execution. Toronto: Macmillan, 1958. Thompson, Eric. â€Å"Canadian Fiction of the Great War.† Canadian Literature. Volume 91 (1981): 81 – 96. Vance, Jonathan. Death So Noble: Memory, Meaning, and the First World War. Vancouver: UBC Press, 1997.

Nursing beliefs/skills Essay

As my career through nursing school has progressed over the last two and a half years I have been blessed with the opportunity to participate in a multitude of clinical experiences. These clinical experiences have given me invaluable hands-on knowledge to facilitate with my coursework in the classroom. I believe that experiential learning is one of the main aspects of nursing school which distinguishes it from other majors. Through my clinical rotations I was able to acquire hundreds of hours in the clinical setting, allowing me to become better prepared for life after graduation. During my time in the classroom I learned valuable skills needed to excel in the nursing profession, but without my experiential learning I would not have had the opportunity to perfect these skills. Spending several hundred hours in the clinical setting gave me time to practice and master these skills to a level appropriate for a graduate nurse. As future advance practice nurse I am now, more than ever before, aware of how much I still have to learn. I believe that learning is not just the momentary acquisition of knowledge or skills but only successfully occurs when knowledge and skills become honed and manifest itself in every aspect of practice. Looking at my future as advance practice nurse, I hope that I will always have a critical awareness of all the different role functions in a variety of circumstances. I’ve learned that different people are good at different things so as I prepare for my own advanced career, I try to find for each different advance practice role, a fellow professional whom I may consider the epitome of that specific role. From one NP, I may learn how to be an expert clinician who seamlessly integrates knowledge into practice and from the next, more about how to be an advocate for a certain population. From the passionate, energetic physician’s assistant, I may learn how to present a practice issue in such a way as to effect clinical practice changes for the improvement of patient care. From the eloquent collaborating physician I may learn that being an expert does not mean that I know all the answers and that the best patient care actually flows from a team which works together for the benefit of their patients.

Financial circumstances Essay

The company was a well growing established retailer industry in the market, how ever due to the scandal charges against Wickes. This caused a lot damage to company itself, it gave Wickes a bad status in the market and also they were black listed which meant that the company had a poor financial history so therefore in the future they will be refused on credit products and any other kind of financial circumstances. On the same day the company got black listed which was on the 25th June 1996, the announcement of the scandal was exposed to the public. The announcement of the scandal instantaneously affected the company’s market value to 150 million pound and the stock was suspended from London market trading. So in order for Wickes to operate the business back to the way it was they refurbished its corporate management and also made emends with any shareholders and suppliers they had. This took the company a good two years of hard development. Bye the end of 1998 the company’s profits increased by 653 million pound so therefore sales rise by 27%. They instituted three new stores and redesigned locations to include ornamental and garden commodities. The fraud scandal could have been preventable in many ways, Wickes became aware of this incident when scandal exteriors and auditors thoroughly checked the books and notice the major extensive changes. How ever this could have been notice at an early stage. Wickes could carry out monthly or yearly check ups on transactions account to notice any changes or misappropriate mistakes occurred in the business. Wickes could employee internal audit; internal audit will improve the function of the organisation and consulting action which will be intended to add value to the business, along side meeting the company’s objectives. The organisations objectives will be achieved by bringing an efficient approach to evaluate and develop the efficiency of risk management, control and governance processes. Although to bring in an internal audit to check the operation of the business yearly will be expensive. In my opinion I personally think that Wickes will be able to pay for the expense of an internal audit as they are a fast established business which creates good profit. This will be beneficial for the business as a whole. Another suggestion to prevent the scandal could be to have good ethics and standards in place. The following charges which were made on the defendant were producing false statement and giving false information to the auditor (Arthur Andersen), so therefore Wickes could locate a system which contains a principle of governing morality and acceptable conduct. They could do this by producing a code of ethics which all the employees will have to fallow and can not be broken. Therefore the company will have strict rules and have control over their employees. This will help the business to be safe and prevent employee misbehaviour. An additional idea is to direct different position to different individuals; Henry Sweetbaum was the company’s former chairman and chief executive. So therefore Wickes could have given two individuals them to positions instead of just giving it to one individual. If they were two individuals directed for them positions then they would have had an inter link with one another jobs and would have been aware of what each one is undertaking. So therefore I personally think that the incident of the scandal would have occurred earlier than later if the former chairman and chief executive roles were given to two individual instead of just one. In conclusion I personally think that the fraud scandal which arose in 1996 for Wickes was a huge turn around for the company and now due to this incident they will be more careful now in the future. Wickes will be more alert and aware of how to minimise the risks and the prospect which occur in a scandal. Referencing  http://www.telegraph.co.uk/htmlContent.jhtml?html=/archive/1996/10/17/cwick17.html