The transformation in the banking system in the lead-up of the Global Essay

The transformation in the banking system in the lead-up of the Global Financial Crisis - Essay Example The paper tells that the Global Financial Crisis started with the collapse of biggest (in terms of financial status and business of these companies) financial companies of the world, including Merrill Lynch and Lehman Brothers. The crisis situation became worst in 2007 when financial intermediaries like banks of USA were in a position to announce themselves as bankrupts. In this time the US government intervened into the matter and provided the necessary financial support to these banks and financial intermediaries and slightly controlled the crisis situation. The financial crisis situation occurred because of the strategy of those financial intermediaries to provide various types of loans, such as house loans, car loans etc., to individuals and business organizations. The crisis situation became worst when these loans or hedge funds have been circulated to different layers in the banking transactions all around the world. Increase in the layers of providing loans to different sectio ns of the world economy has caused these financial intermediaries to suffer from greater risks of default of loans. The risk has been at high because default of one of the person or organization could have resulted in the default of the entire system of circulation of loans. In the mid-2007 this has actually happened and the entire financial system of the country collapsed. This crisis situation eventually transferred into several other countries of the world, including developed countries like United Kingdom, Australia, New Zealand, Japan, and developing countries like India and China (James, 2011, pp. 19-22). With significant disturbance in the housing markets of USA economic and financial systems of countries across the globe has been disturbed and financial companies started to reduce their economic as well as financial activities which in effect reduced the level of economic activities across the globe. In the beginning of 2008, greater liquidity crisis in the US financial mark et and in the US banking system caused countries across the globe to suffer from severe financial crisis situation. The reduction in housing prices and real estate prices across the US caused many large financial intermediaries and banks to suffer from loss of capital and funds. These have eventually reduced the amount of investments made in the process of developing world economies and hence countries started to suffer from severe financial crisis as well as debt crisis. During this time most of the effected countries tried to implement various policies and strategies to transform the banking system to reduce the effects of the Global Financial Crisis (Campbell, 2011, pp. 217-219). Transformation of banking in New Zealand: After the introduction of the Global Financial Crisis in the period of 2007 and 2008, many countries started to implement various macroeconomic as well as various microeconomic policies in order to reduce the intensity of the crisis to affect these economies. New Zealand also affected badly like other developed nations of the world by the Global Financial Crisis and hence, the government of New Zealand took several policies to transform the financial system of the country into more financially stable and operationally strong position. The financial system

The Fate of a Creative Person Essay Example for Free

The Fate of a Creative Person Essay The Fate of a Creative Person What is creativity? Who are creative people? What role do they play in our society? Creativity refers to the phenomenon whereby a person creates something new (a product, a solution, a work of art etc. ) that has some kind of value. According to this definition we may conclude that creative persons are those people who are able to produce something new that has some kind of value, both personal and public. On the one hand, many scholars are sure that people reveal their creative abilities only when they are surrounded by positive things, when they have a loving family, good friends. On the other hand, some researches show that many people can create something only when their life is full of hardships and difficulties. Many writers devoted their works to description of creative people’s life. Among them are William Somerset Maugham, Kazuo Ishiguro, Mary Shelly and Ernest Hemingway. To my mind this fact proves that the fate of creative persons has interested people since long ago. To watch how the above mentioned writers reflected the fate of creative people in literature we decided to analyze the protagonists’ characters of the three novels: â€Å"The Painted Veil†, â€Å"An Artist of the Floating World†, â€Å"Frankenstein† – and a short story â€Å"The Snows of Kilimanjaro†. All these characters have both similar and different traits: they devoted their life to different fields of science and art (Walter Fane – to biology, Masui Ono- to painting, Victor Frankenstein- to study of chemical processes and the decay of living beings, Harry-to literature), but the end of their life is the same (all of them, except Masui Ono, died at the end of the book). Now let’s have a deeper look at these characters. Walter Fane is one of the main heroes in the novel â€Å"The Painted Veil† by W. S. Maugham. He was a young, poor but giving great hopes biologist when he first saw Kitty and married her, thinking that he really loved her. As the novel progresses Walter starts to understand that marriage with Kitty was the greatest mistake in his life. At first he put all the blame for distraction of their marriage on Kitty. She wasn’t fair to him when started to have affairs with Charles Townsend. But later Walter realizes that part of the blame was on him, it was he who proposed to Kitty without getting to know her properly. Walter tries to find the escape from the problems in science. He convinces Kitty in Charles’s shallowness, cowardice and deception and persuades her to move with him to China where he will be curing people of epidemic disease. This trip became a crucial moment both for Kitty and Walter, from this moment they started to understand and respect each other. Days and nights Walter spends at the laboratory trying to find the cure. People treat him as a saint, only Kitty at first doesn’t notice that he is a very intelligent, kind person, devoted to his job. I think he would be also devoted to a family if he had a good one. May be Walter hoped even that everything can be good in the near future, he notices that Kitty changes, she becomes more thoughtful, more sensible. But Kitty destroys his hopes when she understands that she is pregnant, but on Walter’s question â€Å"Who is the father? † she says â€Å"I don’t know†. Shortly after that Walter dies, supposedly in the result of experiments that he carries out in himself trying to find the cure. But the reader doesn’t know whether all this happened by accident or whether Walter did it deliberately, as his hopes for happy life had been destroyed. The tragedy of Walter’s life is in his deep involvement in science. Being absorbed by it since youth he failed to make out between true feelings and Kitty’s desire not to lag behind her younger sister and marry someone as soon as possible. So, from the example of this hero we can see that sometimes people of great creative potential are too devoted to their occupation, they are very successful in their job, but suffer in everyday life, being unable to accommodate to it. Another example of a creative person in literature is Masui Ono, an elderly man who devoted his life to paintings. His creativity, his art had a destructing character. He and some other painters and composers during World War II propaganded Japan’s involvement in the war and German’s support by their works. When a young man, Masui depicted in his works â€Å"a floating world†: beauty of nature, beauty of women, night pleasures- all the things that were not forever. But later when he matured, when he realized that his country was in crisis, that poverty and famine were progressing, Masui decided to do everything he could to help people. This decision seems very generous, but the way he embodies his plans and the results of these plans change the reader’s mind. In his pictures he calls people to join the army and help Germany to lead the war, hoping that the win in it will help his country to overcome all the difficulties. On the one hand, we can’t despise him, because everything he did was realization of his sincere desire to help his country, and besides he also suffered as he lost his wife and his son in the war. But on the other hand, Masui and people having the same ideas, who were blind and couldn’t see the real political situation, led the country to even more critical situation, because the war brought nothing but ruins and dead bodies. In the period of reconstruction such people like Ono become outcast, some of them even commit suicide, some of them are too old and just spend their last years in loneliness. Ono in comparison with such people is not lonely, he has a family: two daughters and a grandson. He never stays at home alone, his elder daughter very often comes to visit him. But Masui isn’t lonely only on the surface, deep inside he is extremely lonely: his daughters don’t understand him, they watch at him like at an elderly man, all they feel is only pity. Masui’s past has influenced not only his own life but also lives of his children: his younger daughter couldn’t marry, because young men didn’t want to have any business with a family, that had contributed to the destruction of the country. So, the tragedy of such people like Masui Ono is that they failed to give their gift the right direction. People could have admired Ono’s works, but he didn’t manage to make out between art and politics, two things that are very rarely can be combined. The third novel tells us a story of Victor Frankenstein, a young man who became interested in science since the very childhood. His study at the university has inspired him to the terrific experiment-creation of a living being from dead people’s bodies. He becomes fascinated with the â€Å"secret of life,† discovers it, and brings a hideous monster to life. The monster proceeds to kill Victor’s youngest brother, best friend, and wife; he also indirectly causes the deaths of two other innocents, including Victor’s father. Though torn by shame and guilt, Victor refuses to admit to anyone the horror of what he has created, even as he sees that he loses control of his creature. As the novel progresses Victor turns from an innocent youth fascinated by science into a disillusioned man determined to destroy the result of his horrific experiment by all means. At first Victor doesn’t care about the results of his experiments, he cuts himself off from the society and carries his experiments out. He lacks humanity in spite of the fact that he was brought up in a big family, in which everyone loved and respected each other. He takes the responsibility of the God for making people alive, but can’t cope with the consequences. He realizes what he really had done only after the monster starts killing people who were close to him. The rest of his life Victor devotes to searching for the monster and killing him, but dies himself. His life and life of all his relatives-that is the price that victor payed for his thoughtless experiments. The example of this character, as well as the example of the character from the previous novel, one more time proves the fact that not always creative people know, how to use their gift. Instead of using it for peaceful purposes they are blindly wasting it or are directing it to dangerous innovations. Creation of the monster by Victor Frankenstein in the novel can be put on the same scale with creation of the atomic bomb. The protagonist of the short story â€Å"The Snows of Kilimanjaro† Harry is a writer, who during his travel in Africa infected his cut on the leg and is dying from gangrene. This character is as lonely in life as Masui Ono: he has a woman who loves him, but he doesn’t love her, she is reach and this is the main reason for Harry’s staying with her. In fact he was lonely all his life: he loved a lot of women but all of them left him because he was demanding too much. The problem of this character is that only at the end of his life Harry realizes that he didn’t manage to write about everything he wanted, that he did very little in this life. Lying on the stretcher in the last evening before his death, the hero recollects all the events he would like to describe in his books in details. Rich imagination of this person, imagination that wasn’t fully used, is revealed in the last minutes of the hero’s life: his death seems to him a flight on the helicopter to his destiny a snowy peak of Kilimanjaro. To make a conclusion I would like to say that a fate of a creative person has been quite a hot issue in literature for many centuries and is touched upon by many contemporary writers. Different writers took different protagonists for their books but many of them make such heroes unhappy outcast of the society. They can’t find their place in the world by different reasons: one of them are so absorbed by their ideas that can’t distinguish people’s true feelings, others can’t direct their creativity in the right way, others use only very small part of their talent and don’t perform their function in this world. If you have gift it means you were touched by God and you should create only good things using this gift. If your creativity brings destruction you will be punished by God.

Henrik Isbens A Dolls House Essay -- A Dolls House Essays

Ibsen's "A Doll's House" In Ibsen’s â€Å"A Doll’s House†, in Act Two Scene 6, Nora’s deceptive behaviour and desperation reaches its climax due to the arrival of the letter. This is because the letter contains the means she used to get hold of the money. During the time when the play took place, society frowned upon women asserting themselves. Women were supposed to play the role in which they supported their husbands, took care of their children and made sure that everything around the house was perfect. Work, politics and decisions were left to the males. Nora broke the law and decided to borrow money to pay for her husband’s treatment. She did not borrow the money in the ‘right’ way instead she forged her father’s signature. By doing this, she not only broke the law but also stepped away from the role society had placed on her, being totally dependent on her husband. In this scene, she faces the truth in the letter. The person from whom she borrowed the money, Krogstad, wants payment on the loan. He also blackmails her about influencing Helmer to give him a better job at the bank and hence increase his position in society. This causes Nora to try to keep the letter away from her husband; but what is the significance of the letter and what does it mean to Nora? Possibly, this letter catalyses how Nora acts and how she thinks and she has been deceiving Helmer for the whole of their marriage. This included all sorts of deceptions. One thing that a good audience can recogn...

Acre Wood Retirement Community Case Study Essay

The pool design was not in tune with the original design, so what was promised was not delivered. Funds allotted were not fully used. Sarah’s complaint in the newspaper would create another legal issue and would invite public outcry against the organization. Ethical issues: – The director was not concerned about the welfare of public even though the organization’s mission was to improve the quality of life of its residents both physically and emotionally. Lack of commitment to visit the pool and refusing to look into Sarah’s complaints were other ethical issues. A2.   The behaviour of director only promoted greed (underutilization of money), irresponsibility (refusing to visit the pool and not listening to the complaints), unethical practices (not concerned about public safety; totally against the organization’s vision) and partiality (promoting Gene who wasn’t complaining) A3.   A role model is some one who inspires, motivates and ultimately brings out the best in the follower by making him realize his own potential. Ethics are one of the key determinants of a role model. An ethical role model is one who puts his organization’s goal ahead of his personal goals, who does not promote malpractices, who is always ready to look in to matters which interest public health and welfare and one who is always ready to listen to his employees suggestion. The director had all the qualities missing which surely don’t make him an ethical role model.   

Black Civil Rights and Feminist Rights

During the twentieth century, both the Civil Rights and the Women’s Rights movements had a comparable ambition in mind. They both wanted to gain the rights and opportunities that others had. In this research paper my goal is to compare and contrast both movements and how they went about chasing each of their goals, and at the same time express some of my viewpoints.The Black Civil Rights was a movement that began right when â€Å"Reconstruction† ended in the late 1870’s which granted all Americans to equal treatment under the law, as provided by the Fourteenth Amendment (Sidlow & Henschen, 99) I will be discussing certain examples that marked this movement significantly. For example, in the landmark of Plessey vs. Ferguson decision in 1896, the Supreme Court upheld the racist policy of segregation by legalizing â€Å"separate but equal† facilities for blacks and whites (Sidlow & Henschen, 101).The court then sentenced blacks to more than half a century of social inequality. Along with this certain act, came many more prominent movements that shaped the world today. The Selma to Montgomery March, for example, was a movement that both MLK Jr. and the Southern Christian Leadership (SCLC) helped organized after the renowned Rosa Parks refused to move to the â€Å"colored section†. After being arrested and fined, many African Americans were spurred and began to organize a nine-year boycott (Sidlow & Henschen, 103).Through years of struggle the government proved unable to secure civil rights for Black people, and so activists started to take matters into their own hands in the early 1960s. The Black Civil Rights Movement initially fueled the Liberal Feminism Movement or also known as the Women’s Liberation. This movement refers to a series of campaigns promoting gender equality and at the same time, opposing the perpetuation of gender discrimination in all economic, political, legal and social structures.In 1966 the National Organization for Women (NOW) was founded by liberal feminists based on the NAACP with the aim of bringing civil rights to women where the legislation wasn’t being honored ( Sidlow & Henschen, 107). Furthermore, in 1969 the media caught on to the movement and brought a wider audience into it that in turn created more momentum to get their goals met alongside the goals of blacks. The movement, fueled by these successes, renewed a push for an Equal Rights Amendment (ERA) to the Constitution (Sidlow & Henschen, 107).The amendment was then adopted in 1972 and states began adopting it, but adoption abruptly halted two years down the road and ultimately failed. The work of the Liberal Feminism Movement started to merge with the work of the Civil Rights Movement, as both were movements seeking similar rights for their respective minority groups. Blacks were largely the group violently pushed back against, and the group for which Affirmative Action was initially formed, but both movem ents were met with similar opposition as they played out at the same time.These movements both had a goal as extensive as racial equality since gender equality with skin of the same color felt like a task of the same size to the feminists and although the Civil Rights Movement accomplished this goal in manageable steps, the ultimate goal was equality with whites and equality with all women. The Feminism Movement used many of the same strategies and methods as the Civil Rights Movement, Nonviolence, for example, was known to be the best tactic at the time (Sidlow & Henschen, 103). Although anger would have been detrimental, nonviolence was still the tool of choice.For the Liberal Feminism Movement there was some room for angered nonviolence, but to be on par with the Civil Rights Movement they used nonviolence like the tool of the minority as well. Both the women of the Liberal Feminism Movement and blacks were minorities, but blacks were by far considered a definite minority due to skin color. Feminist fall into the majority white population and are therefore protected to some extent from undue harm by authorities. In conclusion, The Black Civil Rights were fighting with people not of color, while the Feminist movement was fighting against men.They both used nonviolence methods to best achieve their goals and were ultimately willing to do anything possible to reach them. Sex and race have both been an issue for many years and both are still factors in the political spectrum now a days that determine what â€Å"side† you belong to. Cases like, Plessey vs. Ferguson and Brown vs. Board of Education, and Rosa Parks, are all examples that these two movements brought about, both aiming for the same thing. As well as school integration, busing, abortion, and wage discrimination were all issues that they had to fight through for so long, to ultimately get what they wanted which was equality.