Importance of fault-based liability in English law Essay

Fault is regarded as blame, or responsibility for doing something wrong. The concept of fault is integral to the English legal system when it comes to deciding guilt of liability. In fact, in many areas of law if fault could not be assigned, the system would fall apart as liability can only be found if fault is established first. Fault is particularly important in cases which require mens rea. In these cases it will have to be proven that a certain state of mind was present in the defendant. In criminal law the requirement that mens rea or a guilty mind be established amounts to saying that criminal liability is imposed on blameworthy activity. This close connection between fault and mens rea results in punishment being based on the degree of moral blameworthiness that the defendant is believed to have possessed. The fact that this degree of blameworthiness not only determines whether the defendant will simply be found guilty or not guilty, but is concerned with the punishment, deterrence and rehabilitation of individuals whose conduct is considered by the law to be not only wrongs against other individuals, but also against society as a whole, suggests fault is clearly an essential element. To determine fault the person in question must understand the nature of their actions, be able to exercise control over their actions and must have genuinely chosen to act as they did. These three requirements mean a person’s degree of fault can be reduced if it can be said they are insane, in doli capax (incapable of a crime i.e. a child under the age of ten), or have acted under duress. The recognition of being insane or in doli capax clearly means that they were not able to fully understand the nature of their actions, whilst acting under duress results in them not being able to choose to act as they did. It is also possible that they may not have the capacity to make a genuine choice. In these circumstances it can still be said that the defendant is at fault, but only partially. When dealing with criminal law fault is central to crime in the form of mens rea. Without this element being satisfied the defendant cannot be found to be criminally liable, with the exception of crimes of strict liability. There are three distinct degrees of fault in criminal law, namely, intention, recklessness and negligence. The more at fault a defendant is, the highest degree being intention, then the more they will be held responsible for their crimes. There is also evidence to support this when looking at the two broad categories of crimes; Specific intent crimes and basic intent crimes. Crimes of specific intent consist of those where the mens rea must be intention. Since these crimes hinge upon the highest degree of moral blameworthiness, the greatest degree of fault, they apply to the most serious crimes, such as murder, section 18 GBH and wounding offences, robbery and burglary for example. Subsequently, these crimes also carry the most severe sanctions. Basic intent crimes however require only recklessness to prove criminal liability. It can be considered then that a defendant in a reckless state of mind is less at fault than one possessing the necessary intention, so these crimes tend to carry less maximum prison sentences for example. Involuntary manslaughter, section20 GBH and wounding offence, assault and ABH are all included in the definition of basic intent crimes. The reasoning behind these categories can be understood using Oatley. The defendant here was suffering from severe postnatal depression when she killed her 11-day-old baby by swinging her head against the stairs. Although she was of sound mind this act would have been given a very severe punishment, probably a lengthy prison sentence, she was given a two year probation order and medical treatment. Clearly the defendant was at fault, but only partially due to the postnatal depression. The degree of fault that she possessed at the time of the actus reus was impaired and therefore the degree of punishment should reflect this. Civil law also incorporates the idea of fault into its system. Liability for negligence only arises when the defendant has breached his duty of care to his neighbour and harm occurs as a result of this. In these circumstances fault is defined as falling below a standard of conduct expected of the reasonable person in those circumstances. Although there is evidence to suggest that fault is in fact an essential element in liability, there is some evidence to weaken this theory. Firstly, it is possible that in practice, liability can hinge on chance as well as fault. This can be illustrated using a number of cases, including R v White. In this case the defendant tried to poison his mother but she ended up dying of natural causes before the poison could take effect. Because of this he was not able to be convicted of attempted murder. The defendant clearly had the necessary mens rea, he intended to kill his mother, but chance meant his mother died of natural causes, just a few moments later and maybe the poison could have had an input. However, the poison did not cause the prohibited result so he was not criminally liable. Also, in R v Mitchell, the defendant pushed a man in a queue, who in turn fell against another, who in turn fell against an elderly lady who had to have an operation from which she died. The Court of Appeal ruled that transferred malice applied to unlawful act manslaughter. Chance played in a part in this case too, as it just so happened that the elderly lady was in that queue, that the person he did push fell, not only falling onto someone else, but then that person falling onto the old lady. It was chance therefore in this case that enabled the defendant to be liable for the death of the lady, instead of maybe just for the battery of the first man in the queue. Both these cases illustrate that fault alone is not just what determines someone’s liability; chance can often play an essential part too. Indeed, sometimes fault may be left out altogether from the equation, in crimes of strict liability. Fault can be further understood when looking at negligence. Negligence is carelessness, the defendant wasn’t thinking like the ordinary reasonable person would have done, it’s a lack of thought as oppose to actual thought, not taking enough care that the ordinary reasonable person would have done. In the case of Gibbons and Proctor, Proctor actually wanted the girl dead and so she was convicted of murder as she intended to kill, however Gibbons was merely negligent he wasn’t taking enough care of the child thus he wasn’t convicted of murder he was only convicted of GNM. It must be questioned as to the importance of fault here, negligence is a very low level of fault, it’s not thinking of something you should have thought yet it can lead to a conviction of manslaughter, a homicide conviction. It would seem therefore that fault doesn’t seem to be that important here because you can still convict someone of manslaughter however if you are convicted of manslaughter the judge in that case has complete discretion over sentencing. However still should fault not be more important in this instance, should there not be a higher level of fault than mere negligence. The judge can give an absolute discharge if they chose to do so, if we take in to account proportionality, this is still recognised in the sentence however the defendant would still be labelled as a murderer. In cases involving negligence, the neighbour principal, established in Donoghue v Stevenson is used to determine whether or not the defendant was at fault. This involves looking at whether there a duty of care that was breached, causing the damage to occur, as it was deemed unfair to expect the individual to be liable for people to whom a duty of care cannot be found. The defendant will not be found to be at fault if they have taken reasonable steps to avoid damage occurring, which meet the standards of care that an ordinary and reasonable person would take. The concept of fault is also central to criminal law, for example at trial the prosecution will try to show that the defendant was at fault, whilst the defence aim to show that they were not at fault, and during sentencing the amount of fault which the defendant is considered to have will affect the severity of their sentence. The highest level of fault comes in crimes which were committed intentionally, with the defendant setting out to commit the crime, perhaps having planned it first. The next type of fault is recklessness, which following G v R will always be subjective, which is less serious as there was no intention to commit the crime. However this is still a serious form of fault as the defendant has foreseen a risk. The use of fault in strict liability crimes has been quite controversial as in these crimes the courts are able to assign fault without the presence of a mens rea, so long as the actus reus has been committed. For example, in The Pharmaceutical Society of Great Britain v Storkwain, a pharmacist was found guilty of supplying a drug to an addict on a forged prescription despite there being no fault on his part, which many would view as being overly harsh given that by the ordinary person’s standards he would not be considered to have been at fault. Strict liability offences are those where a conviction results from proof of mens rea alone. There is no actus reus requirement, and therefore no need for the defendant’s degree of fault to be established. For example, in the case of Callow v Tillstone, a butcher was convicted of selling meat unfit for human consumption even though it had been inspected and approved by a qualified vet before hand. Similarly, in Smedley v Breed, the defendant was found guilty of selling unfit food even though only four tins out of three million tested were found to contain caterpillars. One case that illustrates absolute liability is R v Larsonneur. The accused was an alien the subject of an exclusion order under which it would be an offence for her to enter the United Kingdom. She was brought to the United Kingdom handcuffed to the police and very much against her will and yet she was still convicted for violating the exclusion order. It is clear that in these examples from the criminal law there is some liability being imposed in the absence of fault. These exceptions can also be found in civil law, although limited. Perhaps the major instance of liability being imposed without fault in tort can be found in the area of vicarious liability. This is when one person is held liable for the tort of another person. This was a practical mechanism established to find someone who was able to pay for damages to the claimant, primarily in respect of the employer for the torts of the employee. Obviously it would be in the claimant’s best interest if they could obtain damages from a large employer for the actions of an individual employee. The justification for this is that the employer should be able to exercise control over their employees and so they can be held liable for the torts of their employees providing that the employee is not on a ‘frolic of his own’. This can be seen in Rose v Plenty where the employers were liable when an employee gave a lift to a person, who subsequently assisted with the deliveries that were the job of the employee and died. In some circumstance liability is still imposed even when the employer gave express and implicit instructions to the employee not to do the very thing that he then did so incurring vicarious liability on the employer. Therefore, whilst this handful of examples of some of the exceptions, both in criminal and civil law, to the general case, they are sufficient to show that the statement that there can be no liability without fault is too general to be true, thus weakening the argument that fault is an essential element in determining liability. Similarly controversial is the use of fault in State of Affairs crimes, where the defendant may have involuntarily committed an offence, yet are still guilty. One such example is Winzar v Chief Constable of Kent in which a drunken man was taken from a hospital onto a road outside by the police, and then arrested for being drunk on the highway, even though he would never have made it onto the highway without the â€Å"help† of the police. As with Strict Liability crimes, the ordinary person would not see the defendant as being at fault here, and may view the use of fault in this area of the law as being unfair. The issue of fault is even present in defences, in that aggravating and mitigating factors can be used to lessen the amount of fault which the defendant is thought of having. For example someone on bail who plans an attack on an old lady will be seen as being more at fault than someone committing their first offence and entering an early plea of guilty. The concept of fault therefore is present in many areas of law, both civil and criminal. In many cases, without the need to prove fault, system would not work as it is necessary for one party to be blamed for the criminal offence in order to settle it.

Paulo Coelho Biography

Paulo Coelho No one thought Paulo would ever amount to anything. While attending a Jesuit school as a teenager, he dreamed of becoming a writer. When he revealed his career goals to his mother, she told him â€Å"My dear, your father is an engineer. He's a logical, reasonable man with a very clear vision of the world. Do you actually know what it means to be a writer? † He was determined to prove to them that he could accomplish his dream, whether they approved or not. After he turned seventeen, his parents placed him into a mental institution.Their reason being, they wanted to protect him from himself. Paulo Coelho wanted to be different; he wanted to follow an untraditional path. Coelho later admitted that his parents â€Å"did not do that to destroy me, they did that to save me. † At the time, Paulo must not have understood that since he escaped the institution three times before he was released at age 20. Coelho’s parents convinced him to register for Law Sch ool; they were still well aware of his dream to become a writer.After a year of drudgery in Law School, he finally dropped out to pursue his life as a Hippie, traveling around the world absorbed in the drug culture of that time. He later took up a career in songwriting for Rita Lee, Elis Regina, Raul Seixas. The military government arrested him in 1974 because they believed his lyrics were undermining their authority. Twelve years after that incident, Paulo began the long expedition through the Road of Santiago de Compostela. Little did he know this was the beginning of a new life for him.During his journey he went through a spiritual development, which he describes in more detail in his book The Pilgrimage. Coelho left his songwriting career after saying in an interview â€Å"I had money, but I was not fulfilling my dream. My dream was, and still is, to be a writer. † Even though Paulo was still hesitant about initializing his writing career, he thought to himself, â€Å"If I see a white feather today, that is a sign that God is giving me that I have to write a new book. † Coincidentally, in the window of shop he found a white eather and he kept his promise to himself and began writing after that. He was 38 when his first book was published. In 1986, after writing Hell Archives and adding to Practical Manual of Vampirism, he wrote his first successful book, The Pilgrimage. He discovered a small Brazilian publishing house, and later a bigger publisher, and published his book The Alchemist about 12 months later. The Alchemist has become a best seller in Brazil and has been printed in over 70 languages, selling over 65 million copies!Since then, he has become a well-known author. Some of his other books include Eleven Minutes, The Fifth Mountain, Brida and The Witch of Portobello. Brida and The Alchemist have both been made into successful movies, too. In the end, Paulo had a crazy life, but he never truly gave up on his dream of becoming a writer. No one believed he could do it, except himself. Paulo posted to his Facebook page in September that â€Å"You don't need to explain your dreams. They belong to you,† and has lived by this his whole life.

Letters from the Ground Zero

â€Å"Letters from the Ground Zero† is an essay about the tragedy of September 11 in New York City which was unexpected and unbelievable but still happened in broad daylight and caught everyone all over the world unaware and for someone who lived six blocks away from the World Trade Center when the acts of terrorism happened in the American soil like Jonathan Schell, the author of this essay, it is one unforgettable moment in his life to witness such devastation in your country and your countrymen. Schell narrated and illustrated what he had heartrendingly encountered firsthand that day and according to him, â€Å"My specific neighborhood was violated and mutilated.   As I write these words, the acrid, dank, rancid stink—it is the smell of death—of the still smoking site is in my nostrils.† The occurrence of such an attack could have been prevented if every government’s vigilance was increased and complacency was not heightened.  Ã‚  Ã‚   It will always be a better option for all countries to be circumspect, to take extra precautions and do what they can to obliterate such demonic creations. In the time of development of such sophisticated weapons of mass destruction, it is never impossible anymore for a specific part of the globe to become the next ground zero. As Schell told, â€Å"We have known this intellectually, but now we know it viscerally, as a nausea in the pit of the stomach that is unlikely to go away.† The author was able to give a testimonial to the tragedy since he lived near the ground zero and who better to narrate it than someone like him.   What the essay tries to impart is for people to see that something has to be done to stop this from happening again to each one’s homeland and protect the countrymen. The author effectively narrated what can be seen on the television at the same time the streets of New York right after what happened like how people helped each other in any way they can and how so many heroic deeds emerged after such consecutive acts of terror occurred in the United States of America.   The author said â€Å"the surrounding buildings were smashed but still standing and looked down eyelessly on their pulverized brethren†. He was also able to witness how heroic men and women tried to slowly and patiently work in finding the people under the numerous piles of rubbles in ground zero which made it very difficult for the rescue operations to get as many people out of the site alive yet their persistence somehow gave him the reassurance. Despite all these the American people rose above the devastation and destruction even after so many lives of people, employees, firemen, policemen and rescuers were lost.   America has truly learned a huge lesson in a most traumatic, appalling and heartrending way. The essay gives the reader a glimpse of the atmosphere of the perimeter near ground zero, immediately after the World Trade Center was struck.   It makes the reader see what it took and how much courage and strength it took for people whose presence was literally there when it happened. Everyone should try to move and take action on how these attacks can be prevented in the country known to be most powerful in this world. Works Cited Schell, Jonathan. â€Å"Letters from the Ground Zero.† Connelly, Mark. The Sundance Reader, Fourth Edition. Boston, Massachussetts: Thomas Wadsworth, 2006. 119-120.      

The Modern Condition and The Artist's Response Essay

The Modern Condition and The Artist's Response - Essay Example In Modern Art 1851-1929 the author, Richard Brettell, says that an obvious but unmediated way that the artist represented the change of their time is by the subject of their work. By painting modern inventions, such as the Eiffel Tower or a lunch at a new cafe in downtown Paris, the artists was recording modernity. Because one abject can be represented in many ways it helps us analyze how the artists felt about the subject. For example, images of the "most important single achievements of the nineteenth and early twentieth centuries", or the modern city, were very popular subjects. For the purpose of this essay, we will look at how the question of Marxism and the answer of capitalism - and the results from the debate - have slowly transformed society up until this point, affecting and changing social class and consciousness over time and how these changes have been reflected in art forms. Marxism as a whole spurred the onslaught of a different sociological vehicle for governing the masses, a vehicle which contradicted the arguably excessive range of capitalism and what it stood for. By definition then this conflict reflected in art and how the psyche of the collective human race responded to either one or the other. Blamires stated that Marxists saw the chief evil to be eradicated as being the oppression by the capitalists and their allies of the working class (Blamires, pp. 404). Marxism advocated the administration and equalizing of society - all are equal - but failed to take into account the general urge of individuality as experienced by every human being. Due to the competitive and adaptive nature of capitalism, with its emphasis on individuality and the rights of every human, Marxist philosophy and strictures were revealed to be too oppressive, in a grand gesture of irony; human beings desired freedom and unique expression, and a system that regulated and repr essed anything that promoted defiance was seen as limiting and unnecessary. Expressing the notion of change, even gradual, was an easy task for the painters and artists of the transitional times between Marxism/communism and capitalism. Painting life and people in current situations was a means of expressing identification, for self and others. Examples of such works would include Manet's 'Un bar aux Folies-Bergre' (The Bar at the Folies-Bergre) or 'Masked Ball at the Opera'. These images depict a changing time and most notably, a gathering of people and a celebration of life in its individualized freedom. By definition then, these paintings can be seen as symbolic of free will and its execution, in rebellion against oppression and repression as defined by the anti-liberal motion of the Marxist embodiment of social norms. Capitalism in itself is not an absolute expression of individuality. There are still classes and regulatory boundaries, but these are more manageable. As Abrams stated, "the older usage of the term 'capitalism' no longer describes the system as it presently functions". This is implied in other forms of art, such as sculpture and architecture. Because of the individualist drive of competitiveness and self-expression as engendered by capitalism, inter-people conflicts based on viewpoints and opinion become a definite occurrence, and are expressed in art forms

Strategic Management Assignment Example | Topics and Well Written Essays - 1250 words

Strategic Management - Assignment Example So by the time the other European retail giants realized the real benefit associated with international diversification, Tesco has already established in more than 6 international markets. Diversification itself did not stop the very problem for which Tesco decided diversify in the first place itself. The problem is depleting revenue margin in almost 70% of the international markets where Tesco has operational base. Tesco realized that the mere diversification is not going to solve the problem of decreasing level of profits from the international markets (Collinson, 1999). It quickly came up with the idea to form strategic alliance with retail giants in the international markets like Asia. Asian countries like India and China represents an untapped market segment. It is known that the propensity to buy in China is the highest among the Asian countries. Tesco realized that without the help of any local partner, it will not be able to gain the knowledge about the local demographics of these regions. Tesco’s main aim is to use the knowledge of the local demographics to improve its customer relations with the customers. The local retailers have enormous knowledge about the demographic characteristics of the land. Tesco will benefit by utilizing the knowledge of the local retailers. 2.0The benefits arising out of the international strategic alliance 2.1Supply and distribution channel Presently there are more than 3000 local retailers in China. The local retailers range from medium to small scale enterprises. Apart from these there are about 5 big retailers who have considerable influence over the local markets. Through the use of these local retailers Tesco can gain an upper hand in the supply and the distribution channel. Tesco can use the supply and distribution chgannel of the local retailers to procure the raw materials and supply the products. This leads to cost cutting (Soh P. H., 2003). If Tesco is not utilizing the supply and distribution networks of the local retailers then it will take months before Tesco can finally realize what works and what does not work in the supply and distribution channel. 2.2 Launch of products under own brand name The local retailers have set up outlets in the posh areas where the buying propensity of the local people is comparatively more than the other regions. The strategic alliance equips Tesco with the ability to utilize the same outlet to sell the Tesco products or can even partner up with the local retailers to sell combined products. Tesco can also set up its own outlet and sell the Tesco brand products or the local products. In United Kingdom Tesco is a home grown brand where the people have some perception of the brand value. So when new products are launched under the brand name Tesco, customers can easily identify the products with the brand image of Tesco. While in Asian countries the scenario is a bit different. The customers don’t a have very strong perception about the brand Te sco (Youssef and Hansen, 1994). If Tesco decides to produce and sell products under its own brand name, it is not known for sure, what the results might be. Through strategic alliance

Audit Quality Essay Example | Topics and Well Written Essays - 2500 words

Audit Quality - Essay Example The auditors are looked upon by the readers of the financial statements to give assurance that the data presented are free from MATERIAL errors or irregularities. The readers of the financial statements need the financial statements in order to help them in their decision making. At present, auditors are held liable for fault due to negligence or incompetence doing audit work. Also together with regulation and reputation liability acts as a discipline on audit quality in a context where shareholders and other third parties rely on financial information that is audited and paid for by the company audit( Dipiazza, 2000) client. A good example is the Enron case. The audit staff of Arthur Andersen was charged for being negligent in performance of the audit function. Arthur Andersen has now been relegated to the side walk while the remaining big four have remained walking in the major highways handling the major and juice clients of the entire United States and overseas. ISA 240 Fraud and Error. This auditing standard explains the procedures in the audit of Fraud (Zea, 2002) and Error. This audit standard also tells the penalties, especially criminal offenses like being jailed, for gross negligence in auditing the clients' financial statements. Fraud is defined as intentional misstatement either by the company employee (who steals money or property and conceals the errors) or the management itself. The management sometimes does this fraud in order to present a better picture of what the company is in reality. This is what we call, in the accounting parlance, as window dressing. ISA 250 Consideration of Laws and Regulations in an Audit of Financial Statements This auditing standard specifically instructs the auditors to determine if any laws have been violated by the false information presented in the financial statements. One such law of the land is the Income Tax Law, The Property Law, and the Contract law. ISA 220 Quality Control for Audit Engagements. Quality control of engagements means that each engagement must be done with real professionalism. Professionalism means that all auditing standards and auditing procedures must be followed whenever practical or possible. There must be a constant evaluation of audit performance ob all audit team member so that recommendations and corrections can be implemented so that the next engagement will be better and faster than the prior one. Quality audit means that all audit procedures are made to ensure gathering all relevant and material data as soon as possible. IAPS 1010 The Consideation of Environmental Matters in the Audit of FinancialStatements. One audit procedure in environmental audit is to see to it that no environmental laws have been vi

CJUS 330 Book Review Essay Example | Topics and Well Written Essays - 750 words

CJUS 330 Book Review - Essay Example The so called â€Å"liberalized† people have foregone the cultures and traditions of the American society and embraced new ways of living. For instance, gay marriages, pornography, abortion, and radical feminism have come to be accepted in the American society. Such actions are fuelled by an American Supreme Court that has lost faith in the norms of the society and continues to make decisions that will end up destroying the society. The author maintains that there is a faction of Americans who still believe in their traditions of low taxes, purity of marriage, justice, and the rule of law. However, this faction is ignored and the judges of the Supreme Court make rulings on cases based on what suits them (the judges) best. Robertson (2004) categorically states that the past fifty years have seen the Supreme Court in America become radicalized; resulting in the distortion of the very justice, law, and order the court is meant to uphold. In my opinion, the book is very engaging as the author takes us through the foundations of the American constitution. The author gives us an insight of what the framers of the constitution had in mind when they decided that the government should have three arms. According to Robertson (2004) the role of the judiciary is to interpret laws without being influenced by either the legislature or the judiciary. Today, however, decisions made by the Supreme Court are based on the political will of the government, with complete disregard for the ordinary citizen. The author gives many examples of how the Supreme Court has disregarded American culture in most of its rulings. There are examples in the book about how the Supreme Court voted for the exclusion of the phrase â€Å"under God† in the Pledge, though polls showed most Americans wanted the phrase to remain. Cases of rulings in favor of gay relationships and internet pornography are also used by the author to justify his claims about a wayward Supreme Court (Robertson,

Taylor Branch Essay Example | Topics and Well Written Essays - 500 words

Taylor Branch - Essay Example Pillar of Fire explores the civil upheavals between the years 1960 and 1965. Mississippi Freedom Summer, Civil Rights Act of 1964, and LBJ’s Great Society; the book provides a clear portrait of Martin Luther King Jr. on how he was hunted by hatred, factionalism and black mail (Taylor 271). Taylor Branchs relationship with Dr. Martin Luther King Jr. is that Taylor has been working on hisbiography for many years. His books also chronicals the history of the civil rights movement, which was led by Dr. King. To explain the life and times of Dr. King, is like recounting a story of how America become a modern society, approximately 50 years ago after the start of the century. The century’s destiny was to ensure that civil equity announced in 1776 will be a reality. The novel begins and ends with violence; demonstrations occur in Fla, Selma and St. Augustine; President Kennedy is assassinated and the United States of America participates deeply in Vietnam, and Malcolm X disagreed with the Islam nation, this made him face assassination; and the Civil Rights Act of 1964 was signed into law by President Lyndon B. Johnson. The president thereafter began serious lobbying for the equally important 1965 Voting Rights. The author gives Dr. King epic treatment in the book, illustrating that he was a hero. During King’s life; the black Americans finished their movement from the Republican Party to the Democratic Party. 96% of black Americans voted for Lyndon Johnson in the 1964 presidential elections. However, the quasi-feudal political structure in the south gave undue influence to the racists’ political leaders whose main purpose was to destroy King’s goals. Presidents Johnson’s support of the civil right legislations clearly dominates this book. King’s leadership faced a major obstacle of terror through racism. The author also explains in details the violence that

Green Banana Essay Example | Topics and Well Written Essays - 500 words

Green Banana - Essay Example The native pointed it out to the American, explaining that the rock is the center of the world. The American professor was politely noncommittal. The mechanic who repaired the jeep’s radiator noticed the green banana â€Å"fix† and asked the American where he had learned it. Upon hearing the traveler’s reply, the mechanic also pointed out the rock that was the center of the world. Reflecting upon this experience, the American experienced a sort of epiphany as he realized that there are â€Å"green bananas† everywhere, and that the â€Å"center of the world† is unique to everyone because it is a reference to a personal comfort zone. The story of the green banana is ripe with symbolism (pun intended). A simple piece of fruit is used to make the reader realize that sometimes what he or she is looking for has been there all along. We may see a green banana in the grocery store and dismiss it, reaching instead for a selection of yellow ones. Being brought up that bananas should be yellow, and that unripe fruit causes uncomfortable intestinal distress, it is logical that the green ones should be passed over. As the writer attests, being a â€Å"product of American higher education† he thought of the banana only as a food source. Had he not been stranded, he surely would have scoffed at the suggestion by a villager that a green banana could be used to plug a leak in a radiator. Prior to this event, he had no incentive to explore the various uses of all kinds of bananas, much like most of us remain ignorant to the contributions possible by others because we have no need to change our ways. This perspective is d etrimental to our development as a society in that it prevents collaboration and the free exchange of different thoughts and ideas. This self-centeredness keeps us ignorant of the many gifts to be offered by other cultures. Such is the case for the American stranded in the village. He was bemused when the child showed up with the green

A critical analysis of a patient's journey through PICU from a nursing Essay

A critical analysis of a patient's journey through PICU from a nursing perspective - Essay Example Because of the impact of being in an area like the ICU and besides the routine responsibilities, paediatric ICU nurses are required to be â€Å"continually tuned in to the immediate recognition of any disruption in the child’s condition† (Carnevale, 2007, p. 68). They are ought to coordinate with the other members of the medical team who are expected to work together to alleviate the condition of the patient as well as to deal with the family of those who are under their care (Morton, 2002). In this paper, a nurse’s point of view about the journey of a patient Baby X will be assessed while taking into account many aspects of the care. There are a number of patients in the paediatric ICU; each of which with unique cases from the others. The reason why Baby X’s case and care was chosen is mainly to apply critical analysis on how the nursing strategies directed to the patient in coordination with the medical team, its effects on the family’s involvement and the consequences of these put together have led to the improvement of his health. Specifically, the paper would focus on the episode of Baby X’s stay where he had to be tracheostomized. The analysis would consider how the medical team reached the decision; how the nursing care affected the decision and the care before and after the procedure; and the reaction of the family [especially the mother who was doubtful at first] prior to the intervention and after it had been found out that it had helped. Baby X and the rest of the triplets were born expreterm on July 27, 2009. They were only at their 26th week of gestation when they went out. Like him, most of the preterm or premature babies who are born before the 37th week of gestation (Cadwell & Turner-Maffei, 2006) are prone to many complications as they are given birth before full maturation of almost all their body parts. Baby X was admitted to the paediatric intensive care unit last December 12, 2009 for suffering an array of

Educational relevance of Vygotsky's theory Essay

Educational relevance of Vygotsky's theory - Essay Example The main idea in Vygotskys theory is his principle that biological and cultural development does not take place in isolation. Vygotsky held that development is a procedure that has to be examined, instead of a product to be attained (Social Development Theory, No date). This theory acknowledged that individuals learn through social interactions and their culture. They gain knowledge through dialogues in which individuals socially interact and communicate with others to discover the cultural values of the society. Vygotsky also believed that human activities take place in cultural settings and cannot be understood separately from these settings (Woolfolk, 2004). The second belief in Vygotsky’s perspective is that all superior mental functions begin in social activity, that is, the real formation of relations among humans. Development entails mental processes initially on the social level, among individuals, and after that on the individual basis, within the child. Thus, through these social interactions, an individual moves in the direction of more individualized thought process. The co-constructed progression consists of individuals interacting through common activities, typically to resolve a problem. When the child gets assistance through this process, he or she may be able to use enhanced strategies in the future, should a similar difficulty occur. The co-constructed dialogues directs to internalization, which then results in independent though process (Social Development Theory, No date). The development of language is considered to be the chief aspect of Vygotskys sociocultural theory. The language of a certain group of people signifies their cultural beliefs and value system. This suggests that children learn language in a similar fashion as learning of cognitive skills. Vygotsky affirms that individuals might have fabricated prejudices, regulations, and restrictions about language that limit the amount of possibilities

Orange County Essay Example for Free

Orange County Essay After California passed a proposition limiting revenue generated from local property taxes, pressure was put on local governments to raise enough money to fund services. Orange County, like many others in the US, attempted to raise revenue without increasing taxes. Their treasurer, Robert L. Citron, decided to get involved with a high risk high reward product. He chose to invest in derivatives and gamble with public money. Because interest rates were low at the time, Citrons portfolio was returning at an average rate of 8. 52%. This was 5% higher than what the state of California was earning. Orange County was enjoying the benefits of their treasures investments. In 1994, 35% of the countys revenue was from the portfolios returns. The county continued to increase earnings and therefore no one looked into Citrons practices. He did inform the Board of Supervisors that the value of the county’s portfolio depended on interest rates remaining stable or decreasing. So when interest rates rose, the value of the portfolio diminished, eventually leading to bankruptcy. In December 1994, Orange County announced a loss of $1. 6 billion, the most significant loss recorded by a local government investment pool. This also displayed the negative side of the high risk investments made by Citron who was gambling with a $7. 5 billion portfolio made up of players such as cities, school, water works, and regional transportation. [1] There were many factors that led to the bankruptcy of Orange County. A Board of Supervisors member stated that there was a lack of oversight (not an accountable system) and failure of disclosure to investors. Citron also never met with the investment oversight committee that did exist, and as treasurer he had control over Orange County and their trust. Many have questioned if Citron was ever qualified to hold his position in office. Some even blame the state government. Originally they used to fund local governments, but when they started taking back they were taking $6. 5 million more than they were giving them. Before the county declared bankruptcy, an investor; First Boston, was selling its collateral because they saw that the countys portfolio was declining. This was a hint that problems were around the corner because soon many investors would realize this and pull out. In response, bankruptcy was declared so that the funds would freeze and banks would not be able to liquidate the collateral. Another responsible party was Merrill Lynch, the countys financial advisor. The purpose they serve is to protect the interests of the county. They did warn Citron about the volatility of the investments however they still bought him the same funds and underwrote a bond issue for $600 million. The warning was only sent to Citron and not to the Board of Supervisors. A lawsuit was filed in 1995 against Merrill Lynch by Orange County. [2] Besides the power he held over the county, another reason for the bankruptcy was Citrons use of leveraging. As a leveraged fund, it could borrow money to increase its securities portfolio. Citron was able to leverage $7. 57 billion into $20. 5 billion. In essence, when the investment produces a high return rate, the stockholders will have a very high rate of return. On the other hand, if the investment produces a low return rate, the stockholders will have a very low return. They also used longer term maturities which makes it more sensitive to changing interest rates. So there is a high leverage risk as well as interest rate risk. [3] Duration is interest rate sensitivity and because Citrons portfolio depended on interest rates it is a good measure. Because the portfolio used median term maturities over short term maturities to increase their return, the duration increased. In December 1994 the duration was 2. 74 years. With the leverage ratio at 2. 73, the actual portfolio duration was 7. 4 (2. 74*2. 73). When the interest rates rose in 1994, the estimated loss using duration was $1. 85 million, a little more than the actual amount. interest rates went up about 3. 5 and 5 year bond yield was 5%) VaR could also have been used to find some risks of the portfolio. VaR is a statistical technique used to measure and quantify the level of financial risk within a firm or investment portfolio over a specific time frame. Value at risk is used by risk managers in order to measure and control the level of risk which the firm undertakes. The risk managers job is to ensure that risks are not taken beyond the level at which the firm can absorb the losses of a probable worst outcome. investopedia definition) The portfolio was sensitive to interest rates so a change in the rate can be used in 3 simulation methods and the only impactive factor. Using a historical simulation approach, the VaR equals $1. 24 billion. This is lower then the actual value but it is also using past prices to determine the future. In the delta normal method VaR is calculated as $1. 21 billion. This is a little less accurate then the historical method. The best way in theory to calculate Var would be using the Monte Carlo Simulation. However in this situation it treats the portfolio as one asset and equals about $1 billion. Because none of these prove to be reliable enough, a exponentially weighted moving average can be used to improve the accuracy of VaR. What it does it give more weight to recent data then older data. [4] As a result of the bankruptcy many unfortunate consequences arose. Of course there was the $1. 6 billion in debt that needed to be re-payed to investors. Additionally the lawsuit against Merrill Lynch was draining funds from the community with no promising chance of recovery. The once perfect rating that Orange County held was now downgraded to a default rating by Standard Poor. There were also many political consequences regarding the county and county officials. If the risk of the portfolio was taken into consideration by the appropriate parties, the entire situation could have been avoided. Unfortunately the power to stop Citron was in the hands of Merrill Lynch who did not take the appropriate action. The County also failed to monitor and assess the deal which puts several more people at blame for the bankruptcy.

Innovation in strategy

Innovation in strategy This essay evaluates the role of innovation in strategy, and explores the ways management can promote it in organisations. It first looks at the nature of innovation, and examines its importance in current economic and social conditions. It then sets strategy in context, defining it primarily in terms of competitive advantage that is, as a search for capabilities which allow allows an organisation to meet consumers needs better than its rivals. It then investigates why, exactly, innovation is often seen as a key component of strategy. It comes up with two key reasons: its capacity to generate a sustainable competitive advantage for business organisations; and its ability to aid organisations in preventing strategic drift. As a result of these benefits, strategies which are centred upon innovation can add real value to an organisations value proposition, and consequently can substantially improve business performance. The essay then turns to look at the ways that management can promo te innovation in organisations. For this, it turns to the worlds most famous management thinker Peter Drucker and the worlds most innovative company Apple Inc. for guidance on theory and practice respectively. Having thus established the importance of the role of innovation for strategy, and the ways in which management can promote it in organisations, the essay then considers some limitations. In particular, it looks at the possible advantages of strategic drift; and also the other aspects of strategy beyond innovation which must be considered by an organisation. The essay thus concludes that innovation is a necessary component of a successful strategy in that it is able to generate a sustainable competitive advantage for a business but that it is not sufficient in and of itself: an organisation must consider more than innovation if it is to develop an effective strategy. Innovation is usually defined as ‘the successful commercial exploitation of new ideas or simply as ‘the successful implementation of new ideas. This encompasses ideas that are ‘new to the world, ‘new to an industry or merely ‘new to a particular firm (Gabriel, 2008, p. 146). The prominence given to the role of innovation in strategy is to a large extent the result of the prevailing social and economic conditions. In what Peter Drucker the most influential management thinker of the second-half of the twentieth century termed the ‘knowledge economy that has emerged due to the rise of the service industry and decline of manufacturing since the end of the Second World War, business organisations have increasingly had to react to change more rapidly if they wish to succeed in the marketplace (Drucker, 1992, p. 263). Indeed, so important is the successful implementation of new ideas that Drucker famously reflected that: ‘Business has only two bas ic functions marketing and innovation (Kotler Armstrong, 2008, p. 40). In other words, a business organisation must first create a customer, but consequently that business must constantly adapt to provide the necessary goods and services to keep them making a profit: they must pursue innovation both to survive and to thrive. Having explored the nature of innovation, it is useful now to define what is meant by ‘strategy, and examine briefly why it matters. The nature of strategy has traditionally been a contentious issue. A helpful starting point for understanding the concept is found in Anthony Henrys (2008) Understanding Strategic Management, where he provides a synopsis of forty years of heated debate on the issue. He first outlines that, ‘there is agreement that the role of strategy is to achieve competitive advantage for an organisation. He then continues: ‘Competitive advantage may usefully be thought of as that which allows an organisation to meet consumers needs better than its rivals . . . [and] its source may derive from a number of factors including its products or services, its culture, its technological know-how, and its processes (Henry, 2008, p. 4). It is an important issue for a business because a strategy which can enable a sustainable competitive advantage will allow an organisation to generate super-normal returns, and will have a distinct impact on overall organisational performance: an effective strategy can add value (Kay, 1995). Herein lies the essence of the role of innovation in strategy it is often a key component of a sustainable competitive advantage. For instance, Grant (2005, p. 513) has observed from empirical evidence based on such successful companies as 3M, Wal-Mart, and Toyota that, ‘ultimately, the only sustainable competitive advantage is the ability to create new sources of competitive advantage. Firms with a fixed commitment to innovation seem to prosper in the modern ‘knowledge economy. For instance, Apple a company which this essay examines in more depth below has become synonymous with strategic innovation. In Fortunes Americas Most Admired Companies 2008, Apple topped the chart. A senior commentator reflected on this development with the following remark: Apple not only takes the No. 1 slot on this years list of Americas Most Admired Companies but also tops the global survey and wins the highest marks for innovation too. Thats probably no coincidence. In an industry that changes every nanosecond, the 32-year-old company has time and again innovated its way out of the doldrums. Rivals always seem to be playing catch-up. (Fisher, 2008) Moreover, innovation can be key to preventing ‘strategic drift. Strategic drift is the tendency for strategies to develop incrementally on the basis of historical and cultural influences but to fail to keep pace with a changing environment (Johnson, Scholes, Whittington, 2008, p. 179). This is what happened to Sainsburys who were one of the most successful food retailers in the world until the early 1990s, using a tried-and-tested formula of selling high quality food at reasonable prices. Its strategy consisted of gradually extending its product lines, enlarging its stores, and expanding its geographical coverage; but under no circumstances would it deviate from its traditional ways of doing business (Johnson, Scholes, Whittington, 2008, p. 179). However, during Sainsburys period of strategic drift, its rival Tesco followed a policy of ruthless innovation developing Club-Card marketing, building a successful on-line retailing capability, and implementing new ideas to radica lly reduce its distribution costs (IMD, 2008). By having a strategy centred on innovation, therefore, Tesco was able to both establish a competitive advantage and avoid strategic drift. It was, in short, able to develop a strategy which added value, and which made the business organisation much more profitable. So where can business organisations look for innovation how can they promote it more effectively? Peter Drucker has suggested that there are seven areas where companies should look for such opportunities. These have been expertly surmised by Hindle (2008, p. 105), as being: ‘the unexpected success that is rarely dissected to see how it has occurred; any incongruity between what actually happens and what was expected to happen; any inadequacy in a business process that is taken for granted; a change in industry or market structure that takes everyone by surprise; demographic changes caused by things like wars, migrations or medical developments (such as the birth-control pill); changes in perception and fashion brought about by changes in the economy; and changes in awareness caused by new knowledge. Moreover, although it is often the case that ‘innovation has been used interchangeably with the term â€Å"creativity† (Forrester 1993, p. 3; cited in Thompson McHugh , 2002, p. 255), Drucker insists that this ought never to limit a business, claiming that: ‘There are more ideas in any organization, including businesses, than can possibly be put to use (Drucker, 1964, p. 188). Across the literature on innovation, there seems to be a general agreement with this approach set out above: that the opportunities for innovation are multitudinous, and that by paying attention to such factors organisations can develop strategies which can lead to a sustainable competitive advantage and prevent strategic drift. A brief case-study of Apple will help demonstrate how this theory outlined above works in practice, and help us to better understand the ways management can promote innovation in organisations. First, Apple appreciates that innovation is an inexact science: as the CEO and cofounder of Apple, Steve Jobs, puts it: ‘You cant ask people what they want if its around the next corner rather you have to simply provide what you think they might want (Morris, 2008). To guide them, Apple looks to the areas mentioned by Drucker above to gain insights into such potential needs and wants. Apple employees in particular focus on the inadequacies in every-day technology processes that are currently taken for granted, and innovate in these areas. New-product development, according to Apple sources, occurs as a result of conversations such as: ‘What do we hate? (Our cellphones.) What do we have the technology to make? (A cellphone with a Mac inside.) What would we like to own? (You guessed it, an iPhone) (Morris, 2008). Moreover, at Apple, innovation is centred on producing technology the employees really want: as Jobs says, ‘One of the keys to [innovation at] Apple is that we build products that really turn us on (Morris, 2008). This results in an organisation thoroughly committed to the successful commercial exploitation of new ideas at a strategic, operational and tactical level. Indeed Morris (2008), observing the culture of innovation at Apple, has pointed out that: ‘You wont find that word on a placard or a piece of propaganda at One Infinite Loop, Apples headquarters . . . there innovation is a way of life. It is this culture that ‘provides the push to overcome design and engineering obstacles, [and] to bring projects in on time (Morris, 2008). Thus a commitment to a strategy of innovation should foster a culture which reflects this aim of management, as this can lead to the organisation innovating more effectively. Finally, it is important to note the impact of a strategy centred on innovation upon the performance of Apple. It has astounded commentators with one perplexed writer asking: ‘who knew [Apple] could build a . . . [successful] company on the strength of a portable jukebox and a computer with a single-digit market share? (Elmer-DeWitt, 2008). Indeed, the company has been monetarily hugely successful as a result of the innovation it has pioneered. In the 5 years ending in March 2008, sales of Apple wares tripled to $24 billion; and profits rose to $3.5 billion, from a mere $42 million only five years before. Morris (2008) sums up the position of Apple thus: [It] set the gold standard for corporate America with an entirely new business model: creating a brand, morphing it, and reincarnating it to thrive in a disruptive age. . . Apple has demonstrated how to create real, breathtaking growth by dreaming up products so new and ingenious that they have upended one industry after another: consumer electronics, the record industry, the movie industry, video and music production. Thus innovation can play a key role in an organisations strategy, and it can often be effectively promoted by following the theory of Drucker and the practices of Apple. Nevertheless, it is important to note that there are limitations on the role of innovation in strategy. First, ‘strategic drift may not be such a bad thing after all. This is a view outlined by John Kay (2009) in his article History vindicates the science of muddling through. He contrasts the views of the American political scientist Charles Lindblom (published in 1959) with those of Dr H. Igor Ansoff. Lindblom supported a view of incremental adaptation by organisations to changes in their environment; Ansoff proposed a design-orientated, purposive approach to strategy. However, Kay then points that in terms of the organisational case-studies used to support each view Saint-Gobain for Lindbolm; the US conglomerates TRW and Litton for Ansoff the clear winner emerges as Saint-Gobain, a company which adopted a q uasi-strategic drift approach to their strategy, which is still going strong while the other companies have suffered catastrophic failure. Thus, it seems that sometimes simply ‘muddling through can constitute an effective strategy perhaps a firm commitment to innovation is not necessary after all. Moreover, innovation is not the sole component of an effective strategy, and it never can be. Organisations must consider a range of other issues. For instance, business organisations ought to consider issues highlighted by Michael Porters ‘Five Forces model. This shows how the strategic situation of a company can be established by investigating the power of suppliers, the power of buyers, the threat of substitution, the threat of new entrants, as well as the degree of competitive rivalry between the industrys firms. An organisation must consider innovation if it is to ensure that it continues to have an effective strategy in the medium to long term, but it must also pay attention to these other aspects of strategy innovation is necessary, but it is not sufficient. Thus innovation is a necessary component of a successful strategy in that it is able to generate a sustainable competitive advantage for a business. However, it is not sufficient: an organisation must consider other issues as well as innovation if it is to develop an effective strategy. Nevertheless, by following the theory of Drucker and learning from the practices of Apple, management can promote innovation in organisations. And if this is done effectively, innovation can play a key role in what every business organisation seeks: a competitive strategy which adds real value. References: Drucker, P. (1964). Managing for results: economic tasks and risk-taking decisions. California: Harper Row. Drucker, P. (1992). The age of discontinuity: guidelines to our changing society. 2nd ed. New Jersey: Transaction Publishers. Elmer-DeWitt, P. (2008, March 3). Americas Most Admired Companies 2008. Retrieved November 24, 2009, from Fortune Web site: http://money.cnn.com/galleries/2008/fortune/0802/gallery.mostadmired_top20.fortune/index.html Fisher, A. (2008, March 3 ). Innovation Rules. Retrieved November 24, 2009, from Fortune Web site: http://money.cnn.com/2008/02/29/news/companies/fisher_amac.fortune/index.htm 2008 Gabriel, Y. (2008). Organizing Words: A Critical Thesaurus for Social and Organization Studies. Oxford: Oxford University Press. Grant, R. M. (2005). Contemporary strategy analysis. 5th ed. London: Wiley-Blackwell. Henry, A. (2008). Understanding Strategic Management. Oxford: Oxford University Press. Hindle, T. (2008). Guide to Management Ideas and Gurus. London: Profile Books. IMD. (2008). Tesco: Keeping the Hard Discounters at Bay? Switzerland: IMD International. Johnson, G., Scholes, K., Whittington, R. (2008). Exploring corporate strategy: text cases. 8th ed. Harlow: Pearson Education. Kay, J. (1995). Foundations of corporate success: how business strategies add value. Oxford: Oxford University Press. Kay, J. (2009, March 15). History vindicates the science of muddling through. Retrieved December 13, 2009, from John Kay Web sit: http://www.johnkay.com/in_action/604 Kotler, P., Armstrong, G. (2008). Principles of Marketing. 13th ed. London: Pearson Education Ltd. Morris, B. (2008, March 17). What makes Apple Golden? Retrieved October 27, 2009, from Fortune Web site: http://money.cnn.com/2008/02/29/news/companies/amac_apple.fortune/index.htm?postversion=2008030309 Thompson, P., McHugh, D. (2002). Work Organisations. 3rd ed. London: Palgrave.

Growing Up As A Catholic

Growing Up As A Catholic Growing up, my family practiced the catholic faith. My parents educated me as Catholic and I attended a Catholic School for women. I never really experienced another kind of faith but Catholic; all my friends and people around me were from the same church. Im from Panama a Latin country, where 80% of the population is Catholic, the rest is divided between: Evangelist, Mormons, Baptist, etc., just to name a few. When I became an adult, have had Jewish, Muslim and without affiliations, and also I have been in Indian and Jewish religious weddings. Im currently enrolled in Campbell University, and one of my curses is REL-125. I was assigned to attend a religious service different than mine. I had a few options, but I decided to go First Baptist Church Stedman on Sunday morning. First Baptist Church Stedman, is located at 6921 Clinton Rd. The whole church itself was ok. The Usher, the first person I see when I entered the church greet me and welcomed me and also handle me, the bulletin an d an envelope attached. It was a well organized congregation of around 50 people, not too many to look around like you usually see in a Catholic church. I saw a cross but the cross did not have Jesus on it. Everyone who was there was very well dresses; ladies wearing hats and nice dresses and man wearing formal suit. Even the preacher was dressed in formal attire. The choir was spectacular, is the best word to describe it, very organized and the congregation seems to know the songs and enjoyed. It was very entertaining the form of worship they used through the singing. They sang a lot of songs, after every interval described in the program. When the service started, one of the church attendees read the Opening Selection followed by Pastors Invocation and welcome everybody. One thing that called my attention was, every time they sing it was a five minutes song. They worshiped God on each one. I dont notice that until later, and I was wondered how long is the service. As they end the singing another church attendant read the Responsive Reading, they gave all the attendant an additional page attached to the bulletin, entitled: The Resurrection of Jesus in Matthew 28:1-8. The Priest instructed everybody to stand up and the Choir sang another song, followed by the reading of the scripture: For in hope we were saved. Now hope that is seen is not hoping For who hope for what is seen? However, if we hope for what we do not see, we wait for it with patience. When he finished reading it, they prayed followed by the Church Vision Statement that says: First Baptist Church Stedman will be a church in the community that transforms the community, and will make it our aim to reconcile as many individuals as we can to God through the gospel of our Lord and Savior Jesus. Â  At that moment, Im still wondering whats the envelope for. Differently, as we do in Catholic church, I was waiting for the pastor speech. They read the announcements for the community. It was like a fifteen-minute announcement, after that they called the visitors to stand up. At this time, I have been at that church around an hour and fifteen minutes. I stand and introduced myself as a visitor. The entire congregation came over to greet every single visitor, as to welcome them personally. Pastors Brief, I was wondering what is that? It was the replay of the announcements but now by the pastor. And then, the Tithes Offering start, thats when I realized, whats the envelope for? I have to put money on it with my name and address, of course I dont have the interest to be part of that church, so I just walk to the front and put the envelope on a basket. Suddenly, the priest everybody to stand up and read the scripture again followed by the Sermon. It was lengthy and noisy, but presen ted and explained very well. It was good it was about faith. It made me realize that no matter how things may look wo keep believing and expecting good things from God; dont give up. Hope is expectancy; there is no hope if we always know what God has for us. Real hope says: God will touch me. We got to be patient, and when we are patient God will come to our rescue. He may not be there when you want it, but it will be there on time when you need it. I enjoyed. More singing, and then, the priest called those one seeking salvation to come forward. There a few people who went forward, and he starts praying with his hand over their head; after praying with a lady, she is faint, I dont know what happened, I thought to that only happen on TV shows. It was a very long and unexpected religious service. As we were blessed, the pastor walk outside first and stood in the front of the church to greet and say goodbye to the congregation. As I walk outside he approached me and start asking me que stions like: Where I live, Where I come from? And then say We are very grateful you attend our service today, we hope to see you next Sunday. I know there are a lot of different kinds of Baptist church, I dont just generalize all of them with one experience, but I dont think I will return any time soon.

The Foreign Miners in the American Gold Rush Essay -- American History

The Foreign Miners in the American Gold Rush One Saturday night, a mob of masked men, who numbered forty to sixty, approached a small house. Arriving at the house, they dragged two slumbering men from their bunks and hustled them from the house, without even allowing them to put on their clothes, and started to kick and beat them. One of the invaders drew his pistol and shot at one of the victims. The bullet pierced the body of the man and inflicted a terrible wound. Both men who were attacked that night died. This event occurred in Rico, a camp in the San Juan Mountains of Colorado on May 13, 1882. The two Chinese miners that inhabited the village were kicked, cuffed, and dragged over the ground by the hair of their heads, clubbed with pistols and sticks by white men who wanted to run the Chinese out of town. Six Chinamen who resided next door were treated in much the same manner as their friends were that night. Mongolians of the village were thrown into the icy water half-naked. This was nothing new in the west, since the non-traditional miners, especially Chinese miners, were the victims of American racial prejudice from the beginning of the Gold Rush. When the Gold Rush struck the American continent, waves of people came to the west. One might think that only white people participated, but there were lots of miners who came from various places around the world. Their life and experiences were not widely known, whereas those of the white miners were pretty well known. Non-traditional miners certainly had much harder experiences than the white miners did. Many of them were discriminated against, abused and even killed. Looking into the life and experiences of the non-traditional miners, the American Gold Rush period w... ...du/~agf2/history391/nativism.html. Gerstaecker, Friedrich. California Gold Mines. NP: Greenwood Press, 1946. "Gold Fever Prospecting-Sonoran Arrastra." Gold Rush. 1998. 18 Apr. 2002. http://www.museumca.org/goldrush/fever13-ar.html. Hine, Robert V., and John Mack Faracher. The American West: A New Interpretive Story. Yale University, 2000. Lewis, Marvin. The Mining Frontier. Oklahoma: the University of Oklahoma Press, 1967. Milner, Clyde A, ed. The Oxford History of the American West. New York: Oxford University Press, 1994. Nugent, Walter. Into the West: the Story of Its People. New York: Alfred A Knopk, 1999. Sylva, Seville A. A Thesis-Foreigners in the California Gold Rush. California: University of Southern California. 1932. "The People Vs. Hall." Ancestors in the Americas. 1998. 10 Apr. 2002. http://www.cetel.org/1854_hall.html.

Oedipus The King :: Oedipus Rex, Sophocles

Oedipus’ Hamartia Aristotle once said that a hero’s downfall must be a result of some tragic flaw within the character. This flaw was known as hamartia in the Greek world of Aristotle. Since Aristotle greatly admired Oedipus the King, many people believe that Oedipus must have had a prominent and complex hamartia. Discovering Oedipus’ hamartia within the play is not an easy task. In fact, it is impossible to point out Oedipus’ hamartia since I do not believe that he has one. Everything that he says or does throughout the play is justifiable in one way or another. There is always some logical explanation behind his thoughts and actions and, thus, Oedipus does not have a tragic flaw in his character. There are a number of different points that one can analyze and claim to be Oedipus’hamartia. For instance, some people may examine Oedipus’ bad temper and label this as the flaw that leads to his downfall. Oedipus becomes enraged at Teiresias’ claim that he is the one who murdered Laius and he begins to believe that this is an attempt by Creon to overthrow him. Despite Oedipus’ anger in this situation, his reaction can be justified. First of all, Teiresias’ allegation that Oedipus is the killer is absurd to him since he would never murder a king. Also, it seems logical that Creon would be behind such a scheme since he would be next in line to the throne. Therefore, Oedipus’ bad temper cannot be considered his hamartia. Another characteristic of Oedipus that some people tend to refer to as his hamartia is his murderous temperament. One can see this side of Oedipus when he recounts the story in which he killed the old man in the wagon as well as a few of the man’s servants. However, Oedipus’ murderous rage was completely justified in this situation. After all, the old man and his servants were trying to throw Oedipus off the road by brute force. Oedipus, in a sense, was merely defending himself from these men and killed them only out of self-defense and rage. Hence, Oedipus’ murderous temperament cannot be his tragic flaw. Some people even believe that Oedipus’ hamartia was carelessness. Surely anyone told about killing his father and sleeping with his mother would have avoided killing any man and sleeping with any woman. Oedipus, on the other hand, did kill a man and he did sleep with a woman.

Explain the Hardware, Software and Peripheral Components of a Computer System and the Functional Relation Between These Components

Explain the hardware, software and peripheral components of a computer system and the functional relation between these components. Fig: functions of the operating systems (1) 1-Hardware Hardware consists of physical equipment of the computer. We distinguish equipment within the Case such as: Power supply: it is the equipment that receives electricity from a DC current and converts it to a alternative current AC for the needs of the computer. The power supply may depends on the motherboard of the computer because the wattage varies depends on other equipment inside the computer. Fig 3: power supply (4) The motherboard: it is the main equipment of the computer. On it are stored and connected every other equipment. The motherboard is the central piece of the computer. We have many others components installed on the motherboards such as microprocessor, RAM, controller†¦ Fig 4: the motherboard (5) Microprocessor: it is the brain of the computer. it means that all the operation on the computer are made by the microprocessor. It is also known as CPU (central processing Unit). it can be measured in megahertz (MHz) or in Gigahertz depending of computer. he performance of the microprocessor is so important that it is essential to any customer to be aware of the number of calculations it can perform before buying a computer [23]. for example, Dell Optiplex 990 works with Intel Core i3 2100 (3. 1GHz). Fig 5: microprocessor (6) RAM: it is Random access memory. its role is to store instructions or data for a possible processing and its storage is temporally. it hold s a list of instructions of an information that is currently working. it can be accessed randomly, it means that it does not have to look in the storage device (hard disk) from the start to find a piece of interest [23]. When we switch off the computer any storage within the RAM, will be erased that is why we say the storage is temporally. RAM is the main memory because we can quickly access any files in the hard disk. Fig 6: RAM (7) ROM: it stands for read only memory. ROM differs from RAM in two ways: first it is not changed or erased after the computer is assembled, you can read it but cannot write on it, and second it remains unchanged even after the computer is turned off. [23] Fig:19 ROM [22] Hard disk: it is the component where data, files, operating systems are saved. t stored large amount of data depending on its size. the records stored are not volatile as in the RAM, but it remains until it is changed or deleted. it is measured in bytes. today we noticed that computer are almost hard disk capacity of 40 gigabytes. this performance of the disk capacity is one of the main measure when we are buying a computer. [23] Fig 7: the hard disk (8) Drive controllers: its role is to control data trans fer to and from the hard disk. it is a circuits that allows the CPU to communicate with the hard disk and the other kind of disk drive. or example the controller talks to the keyboard and to the mouse to enable the CPU to read information from them(2). we have drive controller such as IDE(integrated drive electronic) and SCSI (small computer systems interface) Fig 8:drive controllers (9) CD-ROM Drive: we use this drive to play and read CD-ROM (DISK COMPACT Read only memory) in the computer. we can also play audio CD. a typical capacity of the CD ROM is about 650 megabytes. they are now being overtaken by DVD (Digital Versatile Disk) because of their large capacity storage up to 3. 9 gigabytes. [23] Fig 9: CD ROM drive(10) Floppy drive: we use this drive to save or read data in a floppy disk. a floppy disk is a small and removable storage devices that record data in square plastic jacket. fig 10: floppy disk drive (11) 2- Software The computer software are programs that controls the computer hardware. They command the hardware and tell them what to do and how to do it. We have many kinds of software: operating systems software, application software, and drivers. Operating systems: it is a program that controls and manages the computer in every task. it controls the input and the output of the computer such as disk drives or scanner. Two of the main features of the operating systems are: -multi user: it means that two or more users can run programs at the same time, it is used particularly with mainframe and minicomputer (3) -multitasking: it means that it is able to execute more than one task at the same-time. For example we can play music in the computer and use the write a document in Microsoft word. We have many type of operating systems: -Windows (XP, VISTA, Windows 7†¦) -Mac OS X -Linux there are additional operating systems that we find on the computer. We called them systems tools of the computer. e use them for the routine maintenance. routine maintenance is different method we take to keep our computer safe and without problems. we have tools such as Disk defragmenter: it is a tool that we use to keep our computer running quickly and efficiently. it organizes and consolidates data on the hard disk, allowing the systems to run faster. we have to use it at least every week. [17] Disk cleanup: it is a tool that enables us to free space in the hard disk and improve the performance of the computer. we use it to remove and delete programs such as temporally internet files, or programs that we on’t use. [17] Backup, [17] Application software: they are programs designed to handle specific types of information and achieve useful results. We distinguish many kinds of application software: -word processing: in those applications we can create text documents. E. g. Microsoft word -database: in those applications we can create and edit data records. E. g. Filemarker pro -presentation graphics: we have the possibility to draw, create 2D and 3D graphics. E. g Corel Draw -media player: with those applications we can play Video, MP3, and other audio formats. E. g. QuickTime player It facts application software depends on platforms and operating systems. for example there are some applications that cannot work in Drivers: there is a program that controls a particular hardware device. Devices such as keyboard, monitor and printer are controls by a driver. Without those drivers the devices cannot function properly. 3-Peripheral components of the computer the peripheral components of the computer can be input or output devices such as: Monitor: it is a device made as a screen where information is represented. it is one of the most important peripheral components of the computer. Fig 11: monitor (12) Keyboard: it is a device that we use to write or enter data text into the computer. Fig 12: keyboard (13) Mouse: it can be defined as a device composed of one or many button that we used to select or to choose specific things through a pointer in a screen. fig 13: mouse(14) Printer: it is a device that we use to represent physically text or graphic data or information stored in the computer. We represent it through a paper. we have many kinds of printer: Dot matrix printer: it can print up to 200 characters per seconds; the print head is hammered very rapidly over the paper. Laser jet printer and ink jet printer. fig14: ink jet printer (15) Scanner: it is a input device used to scan or copy pictures, text to the computer. fig 15: scanner [16] Digital camera: it is a device that we use to record video. We can transfer our recorded video to our computer, and edit them, or email them to friends. fig 16: digital camera[19] Loudspeakers: we use these devices to play music or to use some application that involves sound hearing. fig 17: computer loudspeakers [20] Microphone: we use microphone to create or record a voice or a sound . ometimes we use it for communicating with friends via internet. [18] fig 18: computer microphone [21] References: 1-www. cisco. co. uk 2-http://encyclopedia2. thefreedictionary. com/Hard+drive+controller 3-http://www. webopedia. com/TERM/M/multi_user. html 4-http://trustcomputers. co. uk/index. php? main_page=index&cPath=2 5-http://www. teach-ict. com/gcse/hardware/parts/miniweb/motherboard. htm 6-http://www. cpu-world. com/CPUs/K10 /TYPE-Sempron. html 7-http://www. pcextreme. net/news/your-ram-check-it/ 8-http://www. novell. com/coolsolutions/appnote/16837. html 9-http://www. techarp. om/showarticle. aspx? artno=388&pgno=2 10- http://www. powersourceonline. com/buy-equipment/ibm-Parts/10K3782/31776879-10K3782-cy-en. jsa 11_http://www. darlingtoncomputerrepairs. co. uk/index. php? main_page=product_info&cPath=58_100&products_id=87 12- http://www. lcd-monitor-reviews. com/lcd-monitor-reviews/iiyama-AS4611UT-lcd-monitor-review. html 13- http://voices. canonical. com/joey. stanford/2007/11/ 14- http://www. tomshardware. com/reviews/microsoft-breeds-unique-mice,1554-2. html 15-http://www. inkandmedialtd. co. uk/blog/epson-r300-inkjet-printer-review/ 16-http://www. letsgodigital. rg/html/events/PHOTOKINA-2004/news/epson/PERFECTION-4180_en. html 17-http://www. microsoft. com/atwork/maintenance/speed. aspx 18-www. camcorderinfo. com/content/Glossary. htm 19-http://digital-cameras-planet. com/ 20-http://www. comparesto reprices. co. uk/Trust-computer-speakers-reviews. asp 21-http://www. custom-product. com/wholesale-items/662/714-1/computer-microphone-cm-9002-129285. html 22-http://www. novopc. com/2008/09/rom-read-only-memory/ 23- Brendan Munnelly, Paul Holden, 2000, ECDL3 the complete coursebook, Prentice Hall, Redacteurs Software Documentation Limited 2000

Nuclear Power Technology Essay

The discovery of atomic part had brought man patient of to one of its groovyest triumph through come on history. nuclear applied science is considered as a gift from the Italian-Ameri earth-closet physicist, Enrico Fermi, who was given the back downup as the new Promethean, similar to the past Greek mythological figure. Extending this analogy, it was the Prometheans who gave the entire tender race a type of release within the atomic nucleus. Angelo related that on December 2, 1942 at the University of Chicago, Fermi and his aggroup of scientists opearned run averageted the for the first time thermo thermo atomic reactor incessantly built (1).Pioneering this experiment has started the new era of technology, in where the man race loafer gather susceptibility wisely and in a controlled manner within the atomic nucleus. Effects In the discussion of the effect of using nuclear billet technology, it is plainly fair and proper to present two sides of the argument. The benefits of embarking on such projects get out first be discussed. A major present for the subprogram of nuclear advocator will be that it is cheaper than alternative sources for the production of electricity bulk.In the past sixty years, almsgiving has seen the successful transformation of the atom from a military weapon to a broad source of electricity that benefits the publics lives, forcefulnessing casual activities from using washing machines to surfing the Internet. Expansions in the use of advanced nuclear reactors for power genesis had increased world(a) convenience without emitting noxious chemicals such as carbon monoxide, the gas which endangers the Earths atmosphere. Thus, nuclear technology does not sum to the increasing catastrophe of the greenhouse effect.On the new(prenominal) hand, no technology can completely escape the circumstances down the stairs which it was first developed, and nuclear power reactors cannot vacate some of the negative react ion aimed at the technology. Building a nuclear power plant always lead to the enormous amount of materials, land and energy ask to utilize the complex body part, so feeding a plant requires the mining of a immense amount of uranium ore. Decommission of an age power plant additionally requires rangy quantity of energy and materials.Also, during a power plants operation, the use of water supply needs to be in a large quantity for the cooling shape of the plant itself, thus releasing salient amount of heat fade. Short-Term Consequences It is incontrovertible that tribe benefit from the electricity generated by nuclear power plants to facilitate their everyday life. More and more, people ar parasitical on electricity that these plants have turn out to bring. The widespread use of radioactive isotopes and X-rays is quieten benefiting the practice of medicine.Also, the use of such energy is already contri onlying to the decrease of the expelling of noxious gases to the at mosphere, thus somehow preventing the unfinished disaster of the greenhouse effect. Believers in nuclear technology, to the degree that they recognize these hazards, dispute that nuclear technology carries advantages that more than give back for its intrinsic dangers. From a scientific perspective, when employ wisely and c atomic number 18fully, the various forms of nuclear technology have and will provide great benefits. Long-Term ConsequencesInvestment in the construction of well-contained nuclear power plants is very pricey on a first glance, but the long term advantage of thumping savings on electricity generation can potentially alleviate the trustworthy economic crisis that the world over is experiencing chastise now. Supporters of nuclear power contend that nuclear electricity offers the only realistic mind-set of sustained economic yield erstwhile fossil fuels begin to run out or cause unacceptable environmental problems. On the flip side, using a large amount of re sources for keeping a nuclear power plant alive can lead to environmental adulteration in the long run.Likewise, the release of a great amount of heat waste disrupts nature as well as animals by this extreme thermal pollution. The dogging expansion of mankind through the use of nuclear technology to sustain globular achievements might also increasingly relegate a mark of disruptive wastes. succeeding(a) Developments Human civilization is at an principal(prenominal) crossroads with respect to nuclear technology. If people fail to use nuclear technology wisely, the magnificent accomplishments of the human race could easy crumble into radioactive dust.Current and early generations of humans can productively arms the energy locked deep within the atomic nucleus to achieve sustainable ball-shaped civilization. A societal decision to harvest only the beneficial aspects of nuclear technology is also a manifestation of the final good that can arise from the yeasty spirit of the human mind. In this context, nuclear technology might come to be viewed in the future as that uniquely powerful technology that serves as shielder of Earth. Conclusion The discussion of nuclear power has been lengthy because of the potential importance of nuclear energy in controlling the atmospherical greenhouse. atomic power is out of Pandoras Box it offers enormous benefits there are enormous risks. More than any kind of energy and type of technology we are using, nuclear technology is indeed the about influential force in this changing world. Integration of all technological aspects would be much difficult than any other kind of technology, thus there is a continuous seeking for its options and analyzing the consequences and benefits as well. Nuclear technology has brought confusing questions in which historians and experts do a remarkable debate.Would this modern technology lead the human race to a more sustainable economic growth or does this clean and quite, yet extrem ely destructive power will let the planet? There are a lot of questions that can not be answered accurately, but for the betterment of the entire human race as well as for our future generations, living with this extraordinary technology, if utilise in a contained and humane manner, would be the right decision to make.WORK CITED Angelo, Joseph. Nuclear Technology. Westport, Connecticut Greenwood Press, 2004.

African Reaction to Colonialism Through Resistance and Collaboration Essay

By the end of World war I, most of Africa had been effectively colonized. European compoundists had managed to quell the efforts by Africans to resist the establishment of colonial rule. The next twain decades, the extremity historians call the inter-war historic period, were relatively quiet years in colonial Africa. This relative quiet, however, did not demonstrate that the colonized people of Africa were happy with colonial rule-that in that location was no opposition to colonialism.During the inter-war years opposition to colonialism was denotative in one of the following forms Demands for opportunity and inclusion Many Africans at this time featureed the humankind of colonial rule merely they did not accept the harsh discrimination and the lack of opportunity that was a central part of the colonial experience. Opposition to these aspects of colonialism was especially unanimous among enlightened Africans.Educated Africans believed that all man are created equal. Dis criminatory colonial policies and practice curtail economic opportunities and participation in the political process. During this period, educated Africans create organizations to promote their interest for an end to discriminative policies and for an increase in opportunities. However, these organizations had limited membership, and they did not top radical demands for the end of colonial rule. The South African subject field Congress and the West African National Congress (Nigeria/Ghana) are ideals of elite African organizations. spectral opposition A number of the early anti-colonial up-risings feature in the last section were led by religious leaders. The Chimurenga (Zimbabwe) and Maji-Maji (Tanganyika) uprisings were led by African priests who were potently opposed to colonial rule. This tradition of religious opposition to colonialism continued throughout the 20th century. However, unlike the in the beginning acts of religious resistance, the new opposition was led by African Christians.African Christians took seriously the Christian teachings on equality and fairness-values that were not practiced by colonial regimes. By the 1920s, some African Christian leaders were forming their own churches, sometimes called African Independent church servicees. These churches that were formed in Southern, Eastern, Central and West Africa, provided a strong voice for justice. hotshot of galore(postnominal) examples is the Kimbaguist Christian Church formed in the Congo by Simon Kimbangu in the 1920s.In spite of Kimbangus imprisonment for many years by the Belgians, the Kimbanguist church grew rapidly. When the Congo became commutative in 1960, the church had a membership of everyplace one million. Economic opposition During this time period economic opposition was often not healthy organized. However, there were attempts in the 1920s and 1930s by mine workers in southern Africa and port workers in West and East Africa to organize into unions. While imp ortant, these activities had teensy-weensy impact on the majority of African peoples.Of great impact were the less organized but much widespread efforts of African farmers to resist colonial demands on their labor and their land. Module Nine African Economies provides an example of how small scale African farmers in Mali quietly, but effectively, resisted the attempts by colonial officials to control the production of cotton. mess hall protests During the inter-war era, there were few mass protests against colonial policies. One of the most important and interesting exceptions was the Aba Womens warfare that took place in southeastern Nigeria in 1929.Ibo merchandise women were upset with a number of colonial policies that exist their economic and social position. In 1929, the women staged a series of protests. The largest protest included more than 10,000 women who had cover their faces with blue paint and carried fern-covered sticks. The women were able to destroy a number of colonial buildings before soldiers stopped the protest, violent death more than fifty women in the process. Not surprisingly in contemporary Nigeria, the Aba Women are considered to be bailiwick heroes

Inside Job Movie Review Essay

universe provides teeming to run into both(prenominal) opuss needs, plainly non e real universes greed, verbalise Mahatma Gandhi and this is crimsonhandedly the crux of the matter of this pic. interior duty is forthwith by Charles Ferguson, and it soaringlights the sources and the consequences of the conception(a) mvirtuosotary crisis of 2008. This moving-picture show is fundament eithery cerebrate to to box that was ca ingestiond by the inefficiency of the effort and the reproving washbasinting approach patterns. The theater director has conducted any(prenominal)(prenominal) interviews and has fueldid some concealed sincereities.The movie clear shows that this crisis was non accidental, and that in that respect were galore(postnominal) multitude, including regulators, politicians, businessmen, who were actively worryatic in this destruction. These raft and humongous monetary institutions k forward-lookingfound what they were doing was non right, still everyones perpet symmetryn was on self- engages as, at the wipeout of the day, its wholly near do coin. This docudrama is shargond into tailfin split. These involve how we got here, the bubble, the crisis, accountability, and where we atomic number 18 now. be a student, I would think on the initial organise parts in my review. fit to this movie, a a hardly a(prenominal)(prenominal) pecuniary institutions keep up a direct come to with the crisis. These implicate enthronisation borders, indemnification policy policy companies, evaluation agencies, and so forth primary(prenominal) coronation banks were G antiquatedman Sachs, Morgan Stanley, Lehman Br opposites, Merrill Lynch, and anticipate Stearns. The dour indemnification companies include AIG, MBIA, and AMBAC. benighteds, Standards & pitifuls, and wood pussy were the evaluate agencies. some oppositewise fiscal institutions that vie an master(prenominal) map were C iti assembly, and JP Morgan.The briny occupation started when the deregulating consummation began which tierce to deliver & add crisis, in the end resulting in a hardly a(prenominal) enceinte firms who any told to steriliseher queasy the social unit pecuniary trunk. The hold manufacturing was at its efflorescence when this only started. The type of reenforcement, environment, the boilersuit economy and everything else in well-established and passing-developed countries was racetrack fluent tho this financial crisis destabilized withal these nations. deregulation began and some an early(a)(prenominal) banks were privatized and ten dollar billding(p) freehand, which touch on the economy.As a result, in countries exchangeable Iceland, little banks operational loc anyy borrowed excessive amounts of specie, that were make up to a greater extent(prenominal)(prenominal) than than Icelands good economy. initial deregulation was related to nest egg & lends, all toldowing barbaric investings that ultimately failed and make up heap their savings. This deregulation act with changing administrations and the big(a) firms unplowed on growing. A few mergers took rump that promoted the impression of place consumers savings in equivocal enthronizations. Next, at that place was a co mischiefal change magnitude in net stocks creating a wide bubble. on with this, depravation in jetty channel was change magnitude and property make clean was adequate common. gold launder is fundamentally concealing the extrajudicial room of earning money. With fresh engineering and sophisticated businesses, use of derivatives was change magnitude which do markets un static. These were traded in unregulated markets that argon in otc (Over the Counter) markets. The regulators and other come to parties did not labour the threats of these financial innovations seriously. A new construct of Securitization fare for thou ght ambit had emerged which united lends and investors all all oer the world.The old phenomenon lonesome(prenominal) mixed mortgages surrounded by the stand buyers and the lenders. correctly in new governance lenders neertheless(prenominal) deceive the mortgages to investment banks. These banks comply diverse mortgages to make believe derivatives and so these derivatives be converted into Collateralized Debt Obligations and interchange to investors. These CDOs be bought as they fuddle superior amuse rate and they are simply a scrap of paper. So if the plaza buyer defaults, the bank that before long holds CDO pass on spirit a loss. other chore was Sub-prime mortgages. everyone was attached a loan without considering its re ante upment that whether the individual is able of re redressing or not.The commission was on commission and clamss. The to a greater extent CDOs they grapple the more profit or aid they receive. As there was no regulative intermediary so no one cared that this practice was unconventional and can be dangerous. Every someone asking for loan was hardened as and was abandoned the loan. So essentially these were the riskiest loans and investments made. on with this the evaluation agencies were give heavy amounts by investment banks in dictate to loaf the CDOs highly rated and this was the main(prenominal)(prenominal) problem actually. Everyone was satisfied that it is highly rated so it is safe. some other banks unploughed on purchasing these CDOs ascribable to this reason. either this conk to ample mortgages all near and indeed housing prices increase dramatically creating a bubble. agree to experts this was not real money it was just macrocosm created by the placement. supplement ratios were increasing. It is the ratio of banks borrowed money and its take in money. As borrowings were out-of-the-way(prenominal) more than their profess money that is why leverage ratios were high and summation understructure was decrement dramatically. AIG, an insurance companionship was care long amounts of derivatives for CDO throwers.It was an insurance policy that if CDO goes abuse AIG leave behind dedicate the loss to the investors. AIG did this because it was so trusted that nothing can go scathe as to the highest degree all CDOs are rated abdominal aortic aneurysm and along with this it leave get indemnity from the investors. nevertheless AIGs expectancy was wrong, when all CDOs went noxious it confront losses. AIG in like manner convoluted speculators which resulted in even crowing losses. great deal were ineffectual to pay grit their loans and so the building block system collapsed and so did AIG. more banks went bankrupted and the entire financial system failed.The main reason was that more and more moolah were cosmos earned, at first, with very less risk. tout ensemble this could never check happened if the rating agencies we re in effect(p) and transparent. some(prenominal) warnings were addicted only when no actions were taken. Securitization food chain had imploded and lenders could no prolonged sell their loans to investment banks. Markets for CDOs collapsed sledding banks with ample loans. Banks and many other commodious firms were veneering failure and investment pains was sink fast. any(prenominal) banks were acquired by other bountiful and stable banks.As there was a financial crisis so taxes were increase. On the other hand, unemployment increased dramatically as receding accelerate sphericly. Chinese manufacturers power saw massive decrease in sales and over ten gazillion people miss their jobs in China. The poorer had to pay the most. Companies went for downsizing, standards of living reduced and pauperization increased. This is how the problems arose and draw out to a global financial crisis of 2000s. A group of companies that should convey been works in peoples interes t make full their own pockets quite and so lead the world to disasters.