GRE Sentence Equivalence Sample Questions

Murabahah Example

Essays on Murabahah Assignment Murabahah Murabahah is a common mode of financing used by Islamic financial intuitions to finance their (Hanif 167). Despite the fact that the transaction is conducted by financial institutions, the profit from Murabahah is different from the interest in conventional loans. In the case of Murabahah, the seller mentions the cost of the good under transaction, and if the buyer is willing to purchase it, the buyer adds a mark-up on the cost to achieve a profit. The other difference between the profit from Murabahah and the interest from a conventional loan is that the bank purchases the item on a cost-plus-profit benefit and later resells it to the buyer (Hanif 169). In this case, the banker discloses the cost of the item and the mark-up on the item. Instead of giving money to the borrower to buy an item, after which an interest is charged, the banker purchases the item on behalf of the buyer and sells it at a profit. From the Quran (30:39), interest on transactions is prohibited, since it does not increase the heavenly wealth of the individual involved, thus the need to state any profit from the Murabahah transaction before the transaction commences (Islamic Perspectives). On the position of entering into a Murabahah transaction with a client who has already pain earnest money to the original order of the goods, the Dubai Islamic Bank (54) states that it is necessary and mandatory to include any prior contractual agreements between the two parties. This means that before a Murabahah transaction is entered into between the bank and the client, the client needs to disclose any and all agreements between him and the original supplier of the goods being ordered. In this case, it is permissible to enter into a Murabahah transaction with a client who has paid earnest money (Hamish eljiddiyah) to the original supplier of the goods, provided that the client states all prior contractual relationships. Before a Murabahah contract is agreed upon, both parties in the agreement sign agreement where the banker agrees to sell the item and the buyer agrees to buy it from the banker (Usmani 25). According to Imam Malik (Fuqaha), all the parties in the Murabahah contract are legally bound by the contract that is signed to signal the commencement of the Murabahah agreement. Imam Malik states that any misdirection or failure of commitment by either party to the contract is subject to legal proceedings (Usmani 25). Other Fuqaha scholars state that the agreement is a religious obligation, so both parties must fulfill the agreement. However, Imam Al Shafai (Fuqaha) states that the contract between the two individuals in the transaction is not binding, and the sale only concludes when the buyer accepts to take possession of the goods. A Murabahah transaction cannot be securitized for creating a negotiable instrument to be sold and purchased in secondary market (Alsayyed 12). This is because, when a Murabahah transaction is made, the money and the good must be transferred at par value. In this case, the instrument in the transaction cannot be sold at a higher or lower price than the par value, and transacting a Murabahah paper with a third party cannot be sued to create a negotiable instrument. Works Cited Alsayyed, Nidal. Shari’ah Parameters of Islamic Derivatives in Islamic Banking and Finance, 2009. International Sharia’s Research Academy For Islamic Finance (ISRA) Dubai Islamic Bank. Murabahah to the Purchase Orderer, 2011. Dubai Islamic Bank, Islamic Sharia Department. Hanif, Muhammad. Differences and Similarities in Islamic and Conventional Banking. International Journal of Business and Social Science, 2011. Vol. 2(2). Pp. 166-175. Islamic Perspectives. Riba in the Qur`an: A Closer Examination of Relevant Issues, 2012. Web. Accessed May 29, 2012. Available at: Usmani, Maulana. Murabahah, 2003. Accountancy. Com.pk.

Legal Aspects for Law of Business Organization- myassignmenthelp

Question: Discuss about theLegal Aspects for Law of Business Organization. Answer: Case Description Issue: In the considered case situation; Plaintiff (Paul) is planning to sue to evict defendant (George) because according to him; he is the sole legal owner as per the applicability right of survivorship since rose died. However, the defendant will argue for an equitable interest in the cited property. Plaintiff: Paul Defendant: George Rules Equitable interest Definition: Property ownership can be split into two categories: legal interest and equitable interest (Penner, 2016). An equitable interest refers to an interest held by an asset of an equitable title that shows property s benefitted interest which will provide the owner the right to acquire legal title, or can make claims on the equitable ground like holding of interest by a beneficiary of the trust (Wang, 2016). Equitable interest is considered as a right in equity that might be secured by an equitable cure. Case: Chan Yuen Lan v See Fong Mun [2014] Brief fact In the cited case; associated parties is one married couple (octogenarians), Mr See and Mdm Chan, the concern of this dispute was a lodge home been purchased during 1983 for approx. $1.8 million (now valued at $20 million) and is registered by the name of Mdm Chan. The price for the purchase came from several sources. After thy purchased the bungalow, Mdm Chan implemented a legal representative for Mr See their son (eldest), giving them the responsibility to maintain the bungalow and put in to sell for such price as they see fit. In 2011, Mdm Chan cancelled the power of attorney as he thought that Mr See was selling the house. This provoked Mr See to ask for the announcement that he was beneficial party to the agreement. However, Mdm Chan counterclaimed that the bungalow was a present to her as per the assumption of advancement. Main outcome In Chan Yuen Lan v See Fong Mun [2014] SGCA 36, significant explanations were given by the Court of Appeal regarding the association between the resulting trust and common intention beneficial trust for the aim of determining beneficiary interest in the event of premise dispute. In this issue, which has involved many suppositions and was remained released in Lau Siew Kim v Yeo Guan Chye Terence [2007] SGCA 54 where the same court merely inveterate the sustained significance of the undistinguishable assumptions of resulting trust and advancement. Trust Definition: A trust is not related as a divided legal entity. On the other hand, by considering traditional understanding it can be said that trust is announced on the property, property title is divided into legal and equitable interest (Allen Kraakman, 2016). When the property is owned by the trust, a trustee had the legal title of the property, while the beneficiary holds the equitable title in the property (Singer, 2013). By making use of this method, it is the responsibility of trustee to manage the trust property, for example, making an investment in a trust fund also paying taxes and charges. In short, the trustee has the legal title whereas the beneficiary has a beneficial title. The present case is related to express trusts in which the legal owner had provided a declaration that they are holding the property for the benefit of indicated beneficiaries (Smith, 2016). Further; declaration in such trusts describes the proportion or manner in which they are to hold beneficial interest. This also covers provisions related to express declaration as it will override the ideologies of constructive or resulting trusts until and unless the assertion was obtained through mistake or fraud. Case: Mascall v Mascall [1984] Brief fact A father wants to grant land to his son. He prepared and provided him with a contract of transferring the land with a certificate of it. Later then they fell out and consequently, father changed his opinion of transferring the land. His son had not still left with the legal registration at Her Majesty's Land Registry. Therefore, the father claimed that the property is still in his name. Main outcome Lawton LJ and Browne-Wilkinson LJ provided a judgement stating that the premises belongs to the son, and was found on reliance for the son by his father, as the father made many efforts to make the transfer more effective. However, with no registration, and no transfer of legal title in equity, the father was not able to gain his agreement back. This case is supported by the principle of transfer of legal title to the trustee. This case implied that this necessity is applicable only in a situation where the legal owner has the intention to create an express trust through the transfer of legal title to a third party. In the cited situation; the declaration by an individual is not adequate for the formation of trust, as express trust will come into actuality where the transmission of the legal title is supported by registration or the instant that the act of transferee is in his supremacy to transferal of the legal title to the transferor. Estoppel Definition The promissory estoppels doctrine is characteristically described in two distinguished paragraphs. First one is that it is one of the primary principles that is engaged in all Courts of Equity, that in case parties have agreed to the separate and definite terms involved in legal results or forfeitures, then after with their own approval they enter in a negotiation course that has the outcome of leading any party to assume that rights taking place under the agreement will not impose, or kept secretly (Strong, 2016). An individual who may have imposed these rights will not be entitled to impose them in an inequitable state regarding the dealing that took place among the parties. The second paragraph says that if an individual is holding contractual rights in opposition to others inducing their conduct those not in favour of those having such rights to suppose that these rights would not be imposed or will be kept secret for a certain period of time (Hayes, 2017). Those individuals will not be entitled by Court of Equity to impose right till the specified time. (Halsburys Laws of Singapore vol 9(2) (LexisNexis, 2003) at para 110.277). Case: QBE Insurance (International) Ltd v Winterthur Insurance (Far East) Pte Ltd [2005] Brief fact During 1956, Mr Gillet dropped school at the age of fifteen for the purpose of working at the farm of Mr Holt. His parents desired that he would have continued his school and completed his levels of O and A. Mr Holt never married and had no kids. He liked the enthusiasm of Mr Gillet and started his training and assured to pass the business to him. He made various promises to him all along his working time-period that in near future the farm will be passed to him and had prepared numerous wills stating him as a beneficiary. In regards to these assurances, Mr Gillet agreed to work on a low wage for long hours and did not continue his education or look for work. In 1995, on the other hand, a dispute was raised; Mr Holt discharged Mr Gillet and further changed his will to eliminate Mr Gillet. Mr Gillet was dependant on proprietary estoppel. The trial judge declined the claim affirming that since a will can be altered, further there was no irreversible promise subsequent Taylor v Dickens. Mr Gillet appealed. Main outcome Therefore the appeal was entitled, MrGillet was allowed to the absolute tenure of the farm and the compensated amount of 100,000 the omission from the rest of the agribusiness. Robert Walker LJ In regards to the proprietary estoppels nature: At the initial stage, it is significant to consider proprietary estoppel doctrine is not treated as subdivided into three or four watertight compartments. Both of the sides accepted this, and at the time of oral dispute in this court it continuously became clear that the worth of relevant promises might impact the issue of trust, that trust and detriment are mostly tangled, and that if or of not there is dissimilar requirement for mutual understanding might rely on the forming and understanding of other elements. In addition to this, the basic principle that equity is taken into consideration to avoid reprehensible demeanour permeates all the elements of the doctrine. Licence Definition A special permission granted to do something on others property that, without the license, can be avoided legally or can increase legal actions in the trespass (Nel, 2014). The asset owner having obligations of statutory and legal rights to remain in good faith of beneficiaries, this is usually an authorized trust entity (Newman, 2015). A trust is brought in by a Settlement Deed implemented among the trustee and settler, generally, an expertise trustee authorized in the specified jurisdiction and transferring of assets in the trust while implementing Settlement Deed, settler must make a decision of these viable terms in the trust inclusive of Who are the primary beneficiaries? Whom to hire as a trust protector? Which authorities will be retained by settlor? Further; in the determination of legal entitlement Reimbursement of household bills, furnishings, and home improvements is not considered (Wood, 2017). Case: Burns v Burns [1984] Brief fact In the given case the plaintiff, Valerie Burns, had resided with the defendant for nineteen years but they never get married. The house in which they were residing had been purchased in the name of the defendant as they paid the purchase price in which there was no financial contribution by plaintiff making. However, she had acted as a homemaker as she was obliged for execution domestic duties. Although she had made monetary contributions in terms of household bills and refurbishing. Main outcome In the cited case; the court had provided judgement that initially plaintiff did not make any financial contribution for the purpose of acquisition to the property such as mortgage instalments thus as a consequence she does not hold any right related to beneficial entitlement for their family home. Cited decisions were affirmed by Lords Justice Waller, Fox and May in the Court of Appeal. Case: Pettitt v Pettitt [1970] Brief fact In the considered case Mrs Pettitt had inherited a house in which she resides with her husband. In-house; he spent 800 on upkeeps and renovation of the property. Later she sold that house in 1961 and bought other property in her name alone. In this sale transaction, some money was left from the sale so she gives the same to her husband for the purchase a car. They reside in the new house for 4 years and later they divorced. After divorce; her husband made the claim that he is having a beneficial interest in the cited property on the basis of improvements made by him to a new house. Main outcome In this case; the court had held that Mr Pettitt does not have any interest in the property because improvements made were not sufficient for the creation of an equitable interest in the property. Conclusion By considering the above-described provisions and analysis; conclusion can be drawn that with the death of Rose; George and Paul will be co-owners. Furthermore; Paul is not entitled to evict George as he has a legal interest in property due to his name on the title deed. It is because; in the considered case situation; Rose and Paul were having the agreement of joint tenancy due to which they are co-owners of the property. Further; Georges father sold their flat to generate funds for extension house of his son and money for the same was given to Rose and Paul. By considering this factor; George will be considered an occupier of the property and having equitable interest. References Books and Journals Allen, W. T., Kraakman, R. (2016).Commentaries and cases on the law of business organization. Wolters Kluwer law business. Hayes, M. S. (2017). Trust Law-Beneficiary's Interest in Open-Class Discretionary Trust Amounts to Mere Expectancy Despite Ascertainable Standard-Pfannenstiehl v. Pfannenstiehl.Suffolk UL Rev.,50, 367. Nel, E. (2014). An interpretive account of unconscionability in trust law.Obiter,35(1), 81-93. Newman, A. (2015). Trust Law in the Twenty-First Century: Challenges to Fiduciary Accountability.Quinnipiac Prob. LJ,29, 261. Penner, J. (2016).The law of trusts. Oxford University Press. Singer, J. W. (2013). Property as the Law of Democracy.Duke LJ,63, 1287. Smith, B. S. (2016). Statutory discretion or common law power? Some reflections on veil piercing and the consideration of (the value of) trust assets in dividing matrimonial property at divorcePart One.Journal for Juridical Science,41(2), 68-94. Strong, S. I. (Ed.). (2016).Arbitration of Trust Disputes: Issues in National and International Law. Oxford University Press. Wang, J. (2016). The Rise of Singapore As International Financial Centre: Political Will, Industrial Policy, and Rule of Law. Wood, P. R. (2017). What happened to the trust in financial law?.Capital Markets Law Journal. Cases Chan Yuen Lan v See Fong Mun [2014] SGCA 36 Mascall v Mascall [1984] EWCA Civ 10 QBE Insurance (International) Ltd v Winterthur Insurance (Far East) Pte Ltd [2005] 1 SLR(R) 711. Burns v Burns [1984] Ch 317, [1984] 1 All ER 244) Pettitt v Pettitt [1970] AC 777 House of Lords

Julius Caesar Essays (918 words) - Ancient Rome, 1st Millennium BC

Julius Caesar Julius Caesar Act I: The play opens with a little word play between Flavius, Marullus, and a few workers. The workers are on their way to see Julius Caesar who has recently returned from his victorious battle against Pompey. The reader immediately sees the dislike the tribunes have towards Caesar. However, the commoners seem to love Caesar. The scene moves to a large gathering where Caesar is the focus. As Caesar converses with Mark Antony, we learn that Caesar is superstitious. The belief in the supernatural and the forces of nature are very prevalent in the play, and Caesar's comment is but one example. To keep with the idea of the supernatural, a soothsayer speaks, warning Caesar to beware the Ides of March. He acts as though he is not concerned. After the exchange with the soothsayer, Caesar is offered the crown three times and refuses each time, even though the people are cheering for him to accept the empororship. At the same time, Cassius is trying to convince Brutus that Caesar is too ambitious and should be killed before being allowed to rule the Roman Empire. Brutus, always seeking to do what is right, says that he will not betray his honor and loyalty to Rome. That evening, there are strange and unusual natural occurrences--the weather is very strange and violent and fire falls from the sky. Most of the people believe that the weather is a bad omen, but Cassius disagrees. He uses the unusual weather to reason that it is only for evil men (such as Caesar) who need to be afraid. The plotting against Caesar continues. Act II: Brutus is convinced by Cassius that it is for the good of Rome that Caesar be killed. Some of the other conspirators want to kill friends of Caesar's, but Brutus feels that it is not necessary to kill anyone else. Only the person responsible for the downfall of Rome should perish according to Brutus. Caesar is contemplating on whether he should remain home during the Ides of March (which is March 15th). Calphurinia, Caesar's wife, tells Caesar of the horrible dream she had about his death and that the strange occurrences the night before are a prelude of his death. He agrees to stay until Decius, a conspirator, tells him her dreams were not of his death, but of him saving Rome. Thus Caesar leaves for the Senate despite his wife's pleas. Meanwhile, Artemidorus waits in the streets of Rome for Caesar to pass so he can give him a note warning Caesar of the conspiracy. Act III: Attempts are made to warn Caesar of the plot to kill him, but none are successful. Caesar is murdered in the Senate House. Brutus keeps the others from killing anyone else and they all believe that their deed will be celebrated throughout the ages. Antony enters and pretends that he agrees with the conspirators actions and is granted permission to speak at Caesar's funeral. Brutus speaks first at the funeral to explain their reasons for killing Caesar. The people seem to accept his explanation and then Antony speaks. Throughout his speech, Antony never really says anything bad about Brutus and the others, but he talks about Caesar being such a great and noble man willing to sacrifice all for his people. The listeners become angry and a mob runs through the streets in search of the conspirators; they even kill a man because he had the same name as one of the conspirators. Act IV: Battle plans are being made as well as a list of people supportive of Brutus and the conspirators. These people are to be killed. Octavius and Antony methodically pick people (even family members) who are to be executed. This next part somewhat confused me. Brutus and Cassius are arguing with each other because Brutus would not pardon a friend of Cassius caught accepting bribes. It is almost as if Brutus is mad at Cassius for convincing him to kill Caesar and uses this to vent his anger. I'm not really sure if this is true, so don't take it as gospel. Then they make up saying they weren't really in there right minds. As if

HW4 Solutions Essay

HW4 Solutions Essay HW4 Solutions Essay HW4 Solutions 1. The effect of a government tax increase of $100 billion on (a) government saving, (b) private saving, and (c) national saving can be analyzed by using the following relationships: National Saving = + [Government Saving] = [Y – T – C(Y – T)] + [T – G] = Y – C(Y – T) – G. a. Government Saving- The tax increase causes a 1-for-1 increase in public saving. T increases by $100 billion and, therefore, government saving increases by $100 billion. b. Private Saving- The increase in taxes decreases disposable income, Y – T, by $100 billion. Since the marginal propensity to consume (MPC) is 0.6, consumption falls by 0.6 Ãâ€"ï€  $100 billion, or $60 billion. Hence, Private Saving = – $100b – 0.6 ( – $100b) = – $40b. c. National Saving- Because national saving is the sum of private and public saving, we can conclude that the $100 billion tax increase leads to a $60 billion increase in national saving. Another way to see this is by using the third equation for national saving expressed above, that national saving equals Y – C(Y – T) – G. The $100 billion tax increase reduces disposable income and causes consumption to fall by $60 billion. Since neither G nor Y changes, national saving thus rises by $60 billion. d. Investment- To determine the effect of the tax increase on investment, recall the national accounts identity: Y = C(Y – T) + I(r) + G. Rearranging, we find Y – C(Y – T) – G = I(r) National Saving = I(r) The left-hand side of this equation is national saving, so the equation just says that national saving equals investment. Since national saving increases by $60 billion, investment must also increase by $60 billion. 2. a. Private saving is the amount of disposable income, Y – T, that is not consumed: = Y – T – C(Y – T) = Y – T – MPC(Y – T) = 5,000 – 1,000 – (250 + 0.75(5,000 – 1,000)) = 750. Public saving is the amount of taxes the government has left over after it makes its purchases: Public (Government) Saving = T – G = 1,000 – 1,000 = 0. Total saving is the sum of private saving and public saving, which will be 750. b. The equilibrium interest rate is the value of r that clears the market for loanable funds. We already know that national saving is 750, so we just need to set it equal to investment: S =I 750 = 1,000 – 50r Solving this equation for r we find r = 5%. c. When the government increases its spending, private saving remains the same as before (notice that G does not appear

George Orwells Use of Appositives in A Hanging

George Orwells Use of Appositives in A Hanging An appositive- a noun or noun phrase that identifies or renames another noun- is a handy way of adding details to a sentence. The term comes from the Latin word for placing close by, and an appositive usually appears right after the word or phrase that it renames. Youve just seen one example of an appositive- in the first sentence of this article. Here, from the opening of George Orwells essay A Hanging, are two more: We were waiting outside the condemned cells, a row of sheds fronted with double bars, like small animal cages.He was a Hindu, a puny wisp of a man, with a shaven head and vague liquid eyes. A few paragraphs later, Orwell lines up a pair of appositives to identify another character: Francis, [1] the head jailer, [2] a fat Dravidian in a white drill suit and gold spectacles, waved his black hand. In each of Orwells sentences, the appositive could be substituted for the noun it renames (cells, Hindu, Francis). Or it could be deleted without changing the basic meaning of the sentence. Set off by commas, such appositives are said to be nonrestrictive. In some cases, an appositive might be thought of as a simplified adjective clause (a word group beginning with who or which). This next sentence, for example, relies on an adjective clause to identify the subject, hangman: The hangman, who was a gray-haired convict in the white uniform of the prison, was waiting beside the machine. Now look at George Orwells original version of the sentence, with the adjective clause reduced to a more concise appositive: The hangman, a gray-haired convict in the white uniform of the prison, was waiting beside the machine. Viewed this way, appositives offer a way to cut the clutter in our writing. And that, youll have to admit, makes it a handy little device- a compact grammatical structure. NEXTFor a more detailed discussion of appositives, see How to Build Sentences with Appositives.

Effective Ethical, Moral, and Legal Leadership Term Paper

Effective Ethical, Moral, and Legal Leadership - Term Paper Example It is worth noting that nurses are considered the primary care givers and hence they directly impact on the quality and delivery of services. There are a number of factors that contributed to this problem. There was lack of involvement of nurses in making decisions regarding patients health issues by the physicians and doctors and hence there was no teamwork. According to Chiarella and Mclnnes (2008), "The factors which influence nurses ability to deliver quality patient care are: a multi-disciplinary team approach to patient care delivery, the ability to provide care which satisfies nursing and patient satisfaction, a formula to ensure reasonable workloads, and a work environment which fosters nurse autonomy and control over practice in order to provide safe patient care" (p. 79). These factors were not considered in this institution. The contributions of the nurses towards delivery of services and care were not respected nor considered in the course of treatment by the doctors. In a bid to make the necessary changes to improve the quality of nursing care, there was the need for involvement of nurses in the provision of care. There was also the need to respect and consider their contributions (Walsh, 2010). Subsequently, there are a number of traits that were necessary in the decision making process to ensure the involvement of nurses. Some of these traits included respect, persuasion abilities, compassion, engagement, collaboration, communication, and supportive traits. Ensuring engagement and collaboration translated to nurses, doctors, and other individuals involved in provision of care working as team and hence quality of care was significantly improved, Other traits such as effective communication, persuasion, and respect were important in communicating the need for change. Based on the above dilemma, it is imperative to consider whether effective leaders are born or made. Some people believe that they are born while

Discussion Question Assignment Example | Topics and Well Written Essays - 250 words - 21

Discussion Question - Assignment Example Southern people feared that the North would gain strength and push abolition of slavery. The regional conflict between the North and South affected the political environment. The Missouri Compromise of 1820 saw the Northerners getting from the Union and formed a new slave state called Missouri while Maine became a slavery-free territory. The stands of North and South on slavery also influenced the compromise of 1850 that gave rise to doctrine of states’ rights (Brands, Breen, Williams & Gross, 2012). Both divisions were pushing for a state that would have equal leaders from slave and Free states. However, the compromise led to a bigger conflict that divided the two regions even further than in the beginning. Anti-slavery call inspired Abraham Lincoln rise to presidency. The North backed his candidacy because his victory would automatically impose their will on South. The Southern states did not have him on the ballot, but he won and brought moderate rule on slavery. The Southern states believed that Lincoln was against them. However, Lincoln did not have plans of violating doctrine of states’ rights in a bid to deal with the tension between the North and the

Reasons for United States Possible Attack on Iran Essay Example for Free

Reasons for United States Possible Attack on Iran Essay The topic on the possibility of United States launching a military attack against Iran has dominated much news for several years since the Bush administration and during which some quarters speculated that such an attack would be ordered before the administration left office. As early as 2005, a number of articles had started revealing the imminent plans by Pentagon to order military operations against Iran. While people and the media may speculate and give their opinions about many aspects of the imminent war, the most important issue to understand is the reasons which may spark the attack. It is therefore the objective of this paper to discuss the reasons why US would engage in a military land war with Iran. 2. 0 The Euro-Based Oil Bourse This is one of the major reasons which revolve around the plan by Tehran government in 2005 and 2006 to start competing with the New York Mercantile Exchange (NYMEX), the largest physical commodity futures exchange in the world based in New York and the London based International Petroleum Exchange (IPE) by using the euro-dominated oil trading mechanism (Clark, 2004). The logic behind this is that by using this mechanism in international oil trades, the euro is going to take dominance and establish a firm ground which will serve to overshadow the strength of the U. S dollar in the global oil market. The U. S government therefore considers this a real threat by Tehran government which warrants intervention to protect the dollar from being toppled off from its long term monopoly in the critical international oil market. It is worth noting that lack of an oil pricing standard that is euro-dominated also referred to oil â€Å"marker† in the oil trading industry is one of the technical challenges facing the euro-based trading system in oil transactions. The oil markers currently in operation today are the U. S dollar dominated which include Norway Brent crude, West Texas Intermediate crude, and the UAE Dubai crude. In the spring of 2003, Iran laid down a requirement that all the transactions for its Asian and European oil exports be conducted using the euro currency though the pricing of oil was still predominantly controlled by the dollar. Following an official announcement in 2004 that Iran had intentions to develop an Iranian oil Bourse, it raised the concerns that a stiff competition would ensue between the Iranian oil bourse and the U. S owned NYME and the IPE (Clark, 2004). The macroeconomic implications of such a development would cause a shift in the international commerce in both Middle East and the European Union which is the largest importer of oil from OPEC producers. Consequently, the financial hegemony enjoyed by the IPE and NYMEX would be greatly challenged and thus the U. S is likely to avoid this through military action. 3. 0 The Ambitious Nuclear Program of Iran The Tehran’s nuclear ambition is another possible reason as to why the U. S may launch a land military attack on Iran. This has been seen from the latest series of sanctions on Iran by the Obama administration which mainly targets the Islamic Revolutionary Guards Corps which is the most powerful social, political and economic institution in Iran. The organization also has a large number of companies and banks and therefore makes it an appropriate target for these sanctions (LANDLER COOPER, 2010). However, the critical thing to focus on with regard to this issue is whether these sanctions have the capacity to compel Iran to halt its nuclear program. If the history of political and economic sanctions against countries is anything to go by, then Iran may not change its course despite the sanctions and this may lead to war. The reason for the sanctions is to â€Å"contain† Tehran which depicts a link which leads from diplomatic pressure to military action (Nadal, 2010). Tehran views this threat as real considering that its two neighbors to the west and to the east have a large number of U. S troops. 4. 0 Conclusion A possible military action on Iran by the US cannot be overlooked since the reasons surrounding this possibility would also have major effects on the economy and the security of the US. Considering the economic problems facing the US, the attempts by Iran to establish the euro-based oil bourse may seem as an attempt to suppress the dollar in the international oil market. The nuclear program also would threaten the security not only of the US but also of the world if it is not either regulated or completely halted. To aver the nuclear weapons development, Washington ought to try and alter the perceptions of threat harbored by Iran against America. References Clark, W. (2004). The Real Reasons Why Iran is the Next Target: The Emerging Euro-denominated International Oil Marker. Retrieved August 20, 2010, from http://www. globalresearch. ca/articles/CLA410A. html LANDLER, M. , COOPER, H. (2010). U. S. Eyes New Sanctions Over Iran Nuclear Program. Retrieved August 20, 2010, from http://www. nytimes. com/2010/02/10/world/middleeast/10sanctions. html? _r=1 Nadal, A. (2010). Sanctions against Iran and the Next War. Retrieved August 20, 2010, from http://www. campaigniran. org/casmii/index. php? q=node/10518

Subversion of Women in A Scandal in Bohemia :: Scandal in Bohemia Essays

Subversion of Women in A Scandal in Bohemia Doyle's "A Scandal in Bohemia" follows the story of the famous detective Sherlock Holmes on his adventures to retrieve a damaging photograph. In the society Watson describes, the apparent role of women is miniscule for emphasis focuses on one woman who is the object of Holmes' detective inquiries. In "A Scandal in Bohemia," society places women at a subordinate level pushing them to the background therefore never allowing us, the reader, to know them. Watson describes women as second-class citizens at the start of the story without directly saying so. When Watson says, "My own complete happiness, and home-centered interests which rise up around the man who first finds himself master of his own establishment were sufficient enough to absorb all my attention," (212) he declares outright that he wears the pants in the family, thus implying that his wife makes no important family decisions. Since Watson is the "master" or ruler of his own "establishment," he insinuates that the members of his family are his servants not his equals. Watson's wife is a trivial character, clearly evident because we never hear from her and never learn her name. On one occasion, Watson spends the night at Watson's house on Baker Street without once thinking to call his wife. Watson's behavior shows what little respect he has for his wife. This blatant disregard for his wife's feelings illustrates the insignificance of this woman. The King of Bohemia displays another example of the lack of respect given to women. His concerns do not center on his future wife becoming aware of this affair but rather tarnishing his own image. The King fears the revelation of this scandalous photograph for it lies on the hands of a woman. His interests to dominate this woman are evident in the callous actions the King directs towards Irene Adler. The King states, "Five attempts have been made. Twice burglars in my pay ransacked her house. Once we diverted her luggage when she traveled. Twice she has been waylaid. There has been no result" (218). This disregard for Adler's privacy questions the King's overall motives. Does he really want the photograph or do his actions focus on hurting Irene Adler? The King wants the upper hand on this beautiful, yet intelligent woman. The King's attitude towards his future wife and his former lover, Irene Adler fits into society's narrowly defined roles of women. In this society, women were the nurtures and the protectors of the children and what some deem as only monetarily valuable items. The female instinct to nurture reflects in the personality of Irene Adler.

The Hollow Men Analysis

â€Å"We are the Hollow Men, We are the stuffed men† In this poem by T. S. Elliot, he uses symbolism, mixed with a quick tempo at the beginning, moving to a slower one at the end to describe how a man’s life generally goes by. In the early stages of a man’s life, he is constantly being filled with information and qualities that society deems necessary and desirable. He will spend no time dwelling on the innermost insecurities that we, as humans, all have. He is a Hollow Man. As we go through the motions of life, we rarely spend time in our early years to contemplate and delve into the insecurities and emotions, the thoughts and feelings that make us who we are. We are content being ignorant to the deeper things; the things that make us think about the greater workings of the Universe, and the smaller workings of ourselves. We know those things exist; we simply don’t want to hear them, because, as we’ve all heard at one time or another, ignorance is bliss. â€Å"Eyes I dare not meet in dreams† As we move further into the journey of life, we begin to understand that something is missing. We begin to come to the realization that there are things about ourselves we don’t want to know. We are ashamed that we have gone this long, and have not sought out the greater meaning we inherently know is there. We know we’ve done wrong, but don’t want to face it. We fear what we will discover about ourselves. It is easier to look in a mirror and see your reflection just as being your reflection, and not contemplate the person you see. It is easy to say â€Å"This person has blonde hair, blue eyes, and pale skin. † It is difficult to say â€Å"This person has feelings, beliefs, insecurities, and a deeper meaning. â€Å"At the hour when we are Trembling with tenderness Lips that would kiss Form prayers to broken stone. † This stanza represents how at the end, we know that our lives of passion, where we have done nothing for a greater purpose than for our own personal comfort and entertainment, were insignificant. We know, maybe for the first time, that there was more to living than just existing. We know that we are nothing, and that we have nothing. We know that we are coming to the end, and we are willing to do anything to keep that end from coming. We pray, and beg, and plead, just wanting a chance to have done something truly worthwhile. â€Å"This is the way the world ends This is the way the world ends This is the way the world ends Not with a bang, but a whimper. † When that final end comes, it will not be in some grand event of chaos and hellfire, It will be much worse. It will be a personal revelation that what you have done did not matter. It will come as a quiet, internal battle, with nobody there to console you but yourself. You will have to face your life with a new sense of understanding that only comes with the end.

Importance of Computer in Schools Essay

Tara Dodrill began writing professionally in 1990. She is a travel writer and photographer working for print and online media, primarily covering Florida, ecotourism and off-the-beaten-path destinations. Her writing credits include RUMBUM, Yahoo News, Visit South magazine,and North Carolina Coastal Guide. She studied journalism and education at Ohio University and real estate at Hondros College. Computer classes in schools are important to a well-rounded education. Students are instructed on the basics of computer use as early as kindergarten. Educational software, often presented in a game-like format, entertains younger students while they learn key concepts. ? Technology Skills * The importance of computer study in schools goes beyond the reinforcement of classroom subjects and remedial assistance. Nearly all students will be faced with the need for technology skills when they attend college or enter the workforce. Keyboarding Classes * Keyboarding classes in elementary schools have replaced the old-fashioned typing classes once offered in high schools. Students learn at a young age how to use computers to generate reports, type essays and research homework assignments. * Career Preparation * Computer skills learned in middle school and high school will benefit students during higher education courses and their careers. Students as young as 12 learn how to create Power Point presentations, video projects and photo slideshows. Online Access * By learning how to use computers, students even in low-income areas have access to the world at large. Online learning courses, which were once a rarity at colleges, now comprise a large portion of many schools’ course catalogs. Adult Learners * Students who are introduced to computer courses at an early age adapt quickly to advances in technology, and typically do not fear additional training and new concepts as adult learners. Effect of Science and technology in our lives As what I understand about how Science and Technology affects our lives, That there are advantages and disadvantages. The Advantages are, it makes our lives simple by using equipment that can easily finish and do well the work or job. We can save more time and energy so that we can perform and do our other job. We can now easily communicate our love ones and relatives by using cellphone and internet, it can connect us even they are in the other part of the world and then with digital camera, we can see them just like they are in front of us. Technology now can give us more information about what are happening around the world that help us to get aware and prepare for disaster and calamity that might happen in our country or in our place. Science and Technology can cure our diseases, provide us shelter and foods for crowd people. Most of the people think that there are more advantages of science and technology as compare to the disadvantages. The major advantage of science and technology is that it has made our lives easier like invention of technology has decreased the manual work. The use of technology in agriculture has increased our productivity. Doing work at workplaces is easier because of invention of computers and notebooks. Development of technology in kitchens, beauty parlors, workplace, research labs and in all fields of life has become the necessity. Now we can study and understand our history,culture and society and by the help of Science and Technology we can share our stories of whats happening in our life, what we see and what we discover to by this way we can also help the children of the next generation. The major advantage of technology and science is to assist mankind in living well and more easily and in better health. There is also disadvantages on Science and Technology Many years comes our atmosphere slowly destroy because of the air pollution that came from the factory and it can cause Green House Effect (GHE) it is a process by which thermal radiation from a planetary surface is absorbed by atmospheric greenhouse gasses and is re-radiated in all directions. And it is harm for the people. Science and Technology make people lazy because people just depend on it and not do there work well. It will increased the anxiety of our lives, when technology goes in the wrong hand it can have an negative impact in our society it can create cyber crime, hacking, stealing of personal information and pornography websites. It also gives opportunities to the terrorist to make crime like bombing. As technology develops we forget our traditions style of living. it simply destroying our life styles. It also destroying our nature because of illegal logging, and mining and others, this is the cause of landslide and flood that can kill many people because nature cant stop it anymore.

An Old Fashion Dog Fight in the Big Apple essays

An Old Fashion Dog Fight in the Big Apple essays An Old Fashion Dog Fight in the Big Apple: The 1998 U.S. Senate race in New York is one of the most heated and competitive political battles in the country. New York has traditionally been a place where only the strong willed, and tough at heart could compete; a place where crafty tactics, extensive connections, and stocks of cash are essential aspects of political competition. This years combat field of a campaign has been no exception. The two primary candidates, 60 year old, incumbent, republican, Alfonse DAmato, and 47 year old, democratic challenger, Charles E. Schumer, have been pitted against each other, head to head, for much of the campaign. Both candidates have strong backgrounds and powerful messages while also pursuing rather abrasive, aggressive, and, in some instances, vindictive strategies. Most current polls have the two contestants neck and neck, with Schumer gaining a slight advantage in recent days. The fact of the matter is that DAmato is a strong politician that knows how to get things done; howev er, he also flaunts a capricious, and impulsive style. With Al D'Amato, what you see is what you get, and what you get is often vital, sometimes useful and always unpredictable.1 Schumer, on the other hand, offers the qualities of a serious lawmaker with more rooted values, sounder policy positions and a deeper commitment to the common good; in addition, a deeper compassion for the average citizen, and a professional tact and probity that each and every politician should exhibit. It seems that it is time for a change; New York needs to be able to supply the Senate and our nation with strong and balanced leadership. Leadership that best benefits, reflects, and represents the quite diverse and heterogeneous population of New York. It seems that the people of New York, might have just had enough with DAmato and his consistent embarrassing remarks and behavior on the floor of o...

How to Test Baking Powder and Baking Soda for Freshness

How to Test Baking Powder and Baking Soda for Freshness Baking powder and baking soda lose their effectiveness over time, which can ruin your baking. Heres how to test baking powder and baking soda to make sure they are still good. Key Takeaways: Baking Powder and Baking Soda Freshness Baking powder and baking soda have a shelf life. Over time, these kitchen chemical lose their ability to make baked goods rise.You can test baking powder by mixing a small amount with a bit of hot water. Bubbles should be produced.You can test baking soda by mixing it with a few drops of lemon juice or vinegar. It should produce bubbles.Store baking powder and baking soda in a sealed container. Exposure to humidity eventually deactivates them. How to Test Baking Powder Baking powder is activated by a combination of heat and moisture. Test baking powder by mixing 1 teaspoon of baking powder with 1/3 cup hot water. If the baking powder is fresh, the mixture should produce lots of bubbles. Be sure to use warm or hot water; cold water will not work for this test. How to Test Baking Soda Baking soda is meant to produce bubbles when mixed with an acidic ingredient. Check baking soda by dripping a few drops of vinegar or lemon juice onto a small amount (1/4 teaspoon) of baking soda. The baking soda should bubble vigorously. If you dont see a lot of bubbles, its time to replace your baking soda. Baking Powder Baking Soda Shelf Life Depending on the humidity and how well the container is sealed, you can expect an opened box of baking powder or baking soda to retain its activity for a year to 18 months. Both products last longest if they are stored in cool, dry locations. High humidity can lessen the effectiveness of these leavening agents much more quickly. Its a good idea to test baking powder and soda before using them, just to be sure they are still good. The test is quick and simple and can save your recipe!

Systematic Review and Synthesis Essay Example | Topics and Well Written Essays - 1250 words

Systematic Review and Synthesis - Essay Example presence of hypothermia on admission was correlated with worse outcomes including ICU LOS, functional outcomes (GCS and Glascow Outcome Scored-Extended), and death in their sample of brain injured patients Binks et al (2010) carried out a study to determine how many intensive care units in the United Kingdom were using Hypothermia as part of their post-cardiac arrest management. The study was conducted in all UK ICUs that were present in the 2008 UK directory of critical care. However, the information important to this study was obtained 243 intensive care units (98.4%). After carrying out the study, Binks et al (2010), found out that out of 243 investigated intensive care units, about 85.6% (208) had used therapeutic hypothermia for patients after suffering from cardiac arrest. Further, out of the ICUs using therapeutic hypothermia; 206 (99%) usually or sometimes considered the use of TH in patients who had an out of hospital VF/ Ventricular tachycardia (VT) arrest. In addition, 126 (61%) usually or sometimes used TH after patients had undergone pulse less electrical activity (PEA). Finally, 132 (64%) usually or sometimes used TH following in-hospital cardiac arrest. The study showed that the use of TH in the United Kingdom’s intensive care units had increased after the introduction of the international Liaison Committee on Resuscitation (ILCOR) recommendations. Several intensive care units across UK have decided to use therapeutic hypothermia to treat patients suffer from cardiac arrest. Clinical practice based on previous research (evidence based practice) has since shaped the way patients are being cared for. Clinicians had decided to use the available research on therapeutic hypothermia to treat cardiac arrest patients. According to Thompson, Catherine and Mitchell (2010), the presence of hypothermia on admission was correlated with worse outcomes including ICU length of stay (LOS), functional outcomes (GCS and Glascow Outcome Scored-Extended), and

Prosecutor report Term Paper Example | Topics and Well Written Essays - 1000 words

Prosecutor report - Term Paper Example While wearing masks, the offenders stormed the store. Offender B hit the guard with the butt of his gun in order to knock him down and held hostage two patrons in a small closet. Offender A went to the manager’s office threatened the manager and ordered her to fill their bag with money. In the process, offender A noticed an employee trying to trigger a silent alarm and shot the employees dead. The offenders left the parking lot with offender A driving the vehicle carelessly and at a high speed. A patrolling Montgomery County police officer noticed the carelessly driven car and tried to stop the car, but the offenders tried to escape resulting in a high speed chase. After the chase, the offenders escaped on foot and tried to resist arrest but were overpowered and arrested by the police. Basing on these facts, the two offenders committed multiple offenses that are punishable under the Maryland’s statute codes and the US law in general. Offender A Maryland Criminal Statuto ry Code Criminal Charge Facts relevant to this charge Maximum Criminal Penalty (Felony/ misdemeanor) CL  § 7-105 Motor vehicle theft .The defendant stole a Ford Explorer that he intended to use in robbing a liquor distributor store. The defendant is guilty of a felony and subject to a sentence of imprisonment not exceeding 5 years or a fine not exceeding $ 5,000, or both  § 3-403. Robbery with dangerous weapon. ... The defendant is guilty of misdemeanor and liable for a $10,000 fine or imprisonment of up to five years or both.  § 2-201. Murder in the first degree. During robbery, the defendant shot and killed a liquor distributor employee as he was trying to trigger a secret security alarm. The defendant is guilty of a felony and is subject to life imprisonment without a parole, death sentence or life imprisonment.  § 21-901.1. Reckless and negligent driving. The defendant was spotted by a patrolling Montgomery County police officer driving erratically and at a very high speed. The defendant is guilty of misdemeanor involving careless and high speed driving and is subject to a fine of $1000.  § 9-408. Resisting or interfering with arrest. After the robbery and while driving carelessly, the police attempted to stop the car using Sirens and emergency light, but the men evaded the police triggering a speed chase. The defendant ran the car into a guard rail and Fled. After a chase, they physi cally fought with the police officers who tried to arrest them. After the struggle, the men were arrested by the police. The defendant is guilty of misdemeanor for violating this section and should be subjected to a fine not exceeding $5,000,imprisonment that does not exceed 3 years or both imprisonment and fine.  § 7-104. General theft provisions. The defendant together with his compatriot were in possession of a stolen car that they used in robbery, escaped with it and abandoned it after it had rammed into guardrail. Since the truck exceeds $100,000, the defendant is guilty of a felony and is subject to a fine not exceeding $25,000 and imprisonment not exceeding 25 years or both. Offender B Maryland Criminal

Factors of Civic Disengagement Essay Example | Topics and Well Written Essays - 250 words

Factors of Civic Disengagement - Essay Example However, changes in social structures, economic needs, and order of priorities altered several social obligations. As what Robert Putnam (2000) pointed out, residential mobility, economic hard times, and busyness are prime factors of civic disengagement. To best suit the fluidity of lifestyle of today’s Americans, â€Å"thin, single-stranded... are replacing dense, multi stranded, well-exercised bonds† (Putnam, 2000, p. 184). These bonds are more informal which suit the kind of life they lead. One would say that American civic engagement is slowly declining but this is of course, because of several logical and valid reasons. In the striving economic situation and the frequent rise of price for basic commodities, working individuals are not to blame for disengaging from social activities; however, this is not to approve of it but rather, a more considerate point to address the growing economic needs of the family. On the other hand, Putnam (2000) contends that however th ese busy people work for better financial situation, â€Å"economic good fortune has not guaranteed continued civic engagement† (p. 194); busyness does not excuse them of disengaging from civic life. Another factor is residential mobility (p. 204). The Americans’ mobility largely depends on economy; where employment opportunity is dense, they would be willing to relocate.

Credit Risk Management in the UK Banking Sector

Credit Risk Management in the UK Banking Sector Background 3 Literature Review 7 Ascertaining why and how banking credit risk exposure is evolving recently 8 Seeing how banks use credit risk evaluation and assessment tools to mitigate their credit risk exposure 11 The steps and methodologies used by banks to identify, plan, map out, define a framework, develop an analysis and mitigate credit risk 13 Determine the relationship between the theories, concepts and models of credit risk management and what goes on practically in the banking world 17 Ascertain the scope to which resourceful credit risk management can perk up bank performance 19 To evaluate how regulators and government are assisting the banks to identify, mitigate credit risk, and helping to adopt the risk-based strategies to increase their profitability, and offering assistance on continuous basis 20 Research Methodology 21 Analysis 23 Ascertaining why and how banking credit risk exposure is evolving recently 23 Seeing how banks use credit risk evaluation and assessment tools to mitigate their credit risk exposure 25 The steps and methodologies used by banks to identify, plan, map out, define a framework, develop an analysis and mitigate credit risk 31 Determine the relationship between the theories, concepts and models of credit risk management and what goes on practically in the banking world 35 Ascertain the scope to which resourceful credit risk management can perk up bank performance 38 To evaluate how regulators and government are assisting the banks to identify, mitigate credit risk, and helping to adopt the risk-based strategies to increase their profitability, and offering assistance on continuous basis 40 Primary Survey 45 Conclusions 46 Recommendations 50 Bibliography 56 Background The sub-prime mortgage meltdown that hit the global banking sector in 2007, was a result of circumstances, actions and repercussions that began years earlier (Long, 2007). It, the sub-prime mortgage crisis, was based on unsound ground from its inception. Sub-prime mortgages represent loans made to borrowers that have lower ratings in their credit than the norm (investopedia, 2007). Due to the lower borrower credit rating, they do not qualify for what is termed as a conventional mortgage due to default risk (investopedia, 2007). Sub-prime mortgages thus carry a higher interest rate to off set the risk increase, which helped to fuel the United States economy through increased home ownership, and the attendant spending that accompanies it (Bajaj and Nixon, 2006). Implemented by the Bush administration in the United States to get the economy rolling after the recession fuelled by the September 11th air attacks, the entire plan began to backfire as early as 2004 as a result of the continu ed building of new housing without the demand (Norris, 2008). The new construction glutted the market bringing down house prices. This, coupled with a slowing economy in the United States resulted in layoffs, as well as many subprime mortgage holders defaulting on their loans, and the crisis ballooned. Some attribute the over lending of subprime mortgages to predatory lending (Squires, 2004, pp. 81-87) along with the underlying faults of using it as an economic stimulus package that did not control the limits on new housing (Cocheo, 2007). That set of circumstances represented the cause of the subprime mortgage crisis that spread globally as a result of the tightening of credit due to defaulted loan sell offs and restricted banking lending ceilings caused by the Basel II Accords (Peterson, 2005). The complexity of the foregoing shall be further explained in the Literature Review section of this study. The preceding summary journey through the subprime mortgage crisis was conducted to reveal the manner in which banking credit crunches can and do occur. The significance of the foregoing to this study represents an example to awaken us to the external factors that can and do cause banking credit crisis situations, thus revealing that despite good management practices such events can m anifest themselves. It is also true that poor or lax banking practices can have the same effects. Credit risk management represents the assessing of the risk in pursuing a certain course, and or courses of action (Powell, 2004). In addition to the foregoing U.S. created subprime mortgage crisis, the appearance of new forms of financial instruments has and is causing a problem in credit risk management with regard to the banking sector. As the worlds second largest financial centre, the United Kingdom is subject to transaction volumes that increase the risks the banking sector takes as so many new forms of financial instruments land there first. McClave (1996, p. 15) provides us with an understanding of bank risk that opens the realm to give us an overview of the problem by telling us: Banks must manage risk more objectively, using quantitative skills to understand portfolio data and to predict portfolio performance. As a result, risk management will become more process-oriented and less dependent on individuals. Angelopoulos and Mourdoukoutas (2001, p. 11) amplify the preceding in stating that Banking risk management is both a philosophical and an operational issue. They add: As a philosophical issue, banking risk management is about attitudes towards risk and the payoff associated with it, and strategies in dealing with them. As an operational issue, risk management is about the identification and classification of banking risks, and methods and procedures to measure, monitor, and control them. (Angelopoulos and Mourdoukoutas, 2001, p. 11) In concluding, Angelopoulos and Mourdoukoutas (2001, p. 11) tell us that the two approaches are in reality not divorced, and or independent form each other, and that attitudes concerning risk contribute to determining the guidelines for the measurement of risk as well as its control and monitoring. The research that has been conducted has been gathered to address credit risk management in the United Kingdom banking sector. In order to equate such, data has been gathered from all salient sources, regardless of their locale as basic banking procedures remain constant worldwide. References specific to the European Union and the United Kingdom were employed in those instances when the nuances of legislation, laws, policies and related factors dictated and evidenced a deviance that was specific. In terms of importance, credit risk is one of the most important functions in banking as it represents the foundation of how banks earn money from deposited funds they are entrusted with. This being the case, the manner in which banks manage their credit risk is a critical component of their performance over the near term as well as long term. The implications are that todays decisions impact the future, thus banks cannot approach current profitability without taking measures to ensure that decisions made in the present do not impact them negatively in the future (Comptroller of the Currency, 2001). A well designed, functioning and managed credit risk rating system promotes the safety of a bank as well as soundness in terms of making informed decisions (Comptroller of the Currency, 2001). The system works by measuring the different types of credit risk through dividing them into groups that differentiate risk by the risk posed. This enables management as well as bank examiners to mon itor trends and changes to risk exposure, and this minimise risk through diversifying the types of risk taken on through separation (Comptroller of the Currency, 2001). The types of credit risks a bank faces represents a broad array of standard, meaning old and establishes sources, as well as new fields that are developing, gaining favour, and or impacting banks as a result of the tightness of international banking that creates a ripple effect. The aforementioned subprime crisis had such an effect in that the closeness of the international banking community accelerated developments. The deregulation of banking has increased the risk stakes for banks as they now are able to engage in a broad array of lending and investment practices (Dorfman, 1997, pp. 67-73). Banking credit risk has been impacted by technology, which was one of the contributing factors in the subprime crisis (Sraeel, 2008). Technology impacts banks on both sides of the coin in that computing power and new software permits banks to devise and utilise historical risk calculations in equating present risk forms. However, as it is with all formulas, they are only as effective as the par ameters entered (Willis, 2003). The interconnected nature of the global banking system means that bank risk has increased as a result of the quick manner in which financial instruments, credit risk transfer, and other systems, and or forms of risk are handled. The Bank for International Settlements led a committee that looked into Payment and Settlement Systems, which impacts all forms of banking credit risk, both new forms as well as long standing established ones in loans, investments and other fields (TransactionDirectory.com, 2008). The report indicates that while technology and communication systems are and have increased the efficiency of banking through internal management as well as banking systems, these same areas, technology and communications systems also have and are contributing to risk. The complexity of the issues that arise in a discussion of credit risk management means that there are many terms that are applicable to the foregoing that are banking industry specific to this area. In presenting this material, it was deemed that these special terms would have more impact if they were explained, in terms of their context, as they occur to ease the task of digesting the information. This study will examine credit risk management in the UK banking sector, and the foregoing thus will take into account banking regulations, legislation, external and internal factors that impact upon this. Literature Review The areas to be covered by this study in relationship to the topic area Credit Risk Management in the UK Banking Sector entails looking at as well as examining it using a number of assessment and analysis points, as represented by the following: Ascertaining why and how banking credit risk exposure is evolving recently. Seeing how banks use credit risk evaluation and assessment tools to mitigate their credit risk exposure. The steps and methodologies used by banks to identify, plan, map out, define a framework, develop an analysis and mitigate credit risk. Determine the relationship between the theories, concepts and models of credit risk management and what goes on practically in the banking world. Ascertain the scope to which resourceful credit risk management can perk up bank performance. To evaluate how regulators and government are assisting the banks to identify, mitigate credit risk, and helping to adopt the risk-based strategies to increase their profitability, and offering assistance on continuous basis. The foregoing also represents the research methodology, which shall be further examined in section 3.0. These aspects have been included here as they represented the focus of the Literature Review, thus dictating the approach. The following review of literature contains segments of the information found on the aforementioned five areas, with the remainder referred to in the Analysis section of this study. Ascertaining why and how banking credit risk exposure is evolving recently. In a report generated by the Bank for International Settlements stated that while transactional costs have been reduced as a result of advanced communication systems, the other side of this development has seen an increase with regard to the potential for disruptions to spread quickly and widely across multiple systems (TransactionDirectory.com, 2008). The Report goes onto add that concerns regarding the speed in which transactions occur is not reflected adequately in risk controls, stress tests, crisis management procedures as well as contingency funding plans (TransactionDirectory.com, 2008). The speed at which transactions happen means that varied forms of risk can move through the banking system in such a manner so as to spread broadly before the impact of these transactions is known, as was the case with the subprime mortgage crisis debt layoff. One of the critical problems in the subprime crisis was that it represented a classic recent example of the ripple effect caused by rapid interbanking communications, and credit risk transfer. When the U.S. housing bubble burst, refinance terms could not cover the dropping house prices thus leading to defaults. The revaluation of housing prices as a result of overbuilding forced a correction in the U.S. housing market that drove prices in many cases below the assessed mortgage value (Amadeo, 2007). The subprime mortgage problem was further exacerbated by mortgage packages such as fixed rate, balloon, adjustable rate, cash-out and other forms that the failure of the U.S. housing market impacted (Demyanyk and Van Hemert, 2007). As defaults increased banks sold off their positions in bad as well as good loans they deemed as risks as collateralised debt obligations and sold them to differing investor groups (Eckman, 2008). Some of these collateralised debt obligations, containing subprim e and other mortgages, were re-bundled and sold again on margin to still another set of investors looking for high returns, sometimes putting down $1 million on a $100 million package and borrowing the rest (Eckman, 2008). When default set in, margins calls began, and the house of cards started caving in. Derivatives represent another risk form that has increased banking exposure. The preceding statement is made because new forms of derivatives are being created all of the time (Culp. 2001, p. 215). Derivatives are not new, they have existed since the 1600s in a rudimentary form as predetermined prices for the future delivery of farming products (Ivkovic, 2008). Ironically, derivatives are utilised in todays financial sector to reduce risk via changing the financial exposure, along with reducing transaction costs (Minehan and Simons, 1995). In summary, some of the uses of derivatives entail taking basic financial instruments as represented by bonds, loans and stocks, as a few examples, and then isolating basic facets such as their agreement to pay, agreements to receive or exchange cash as well as other considerations (financial) and packaging them is financial instruments (Molvar, et al, 1995). While derivatives, in theory, help to spread risk, spreading risk is exactly what caused t he subprime meltdown as the risk from U.S. mortgage were bundled and sold, repackaged, margined, and thus created a raft of exposure that suffered from the domino effect when the original house of cards came crashing down. Other derivative forms include currency swaps as well as interest rate derivatives that are termed as over the counter (Cocheo, 1993). The complexity of derivatives has increased to the point where: auditors will need to have special knowledge to be able to evaluate the derivatives measurement and disclosure so they conform with GAAP. For example, features embedded in contracts or agreements may require separate accounting as a derivative, while complex pricing structures may make assumptions used in estimating the derivative s fair value more complex, too. (Coppinger and Fitzsimons, 2002) The preceding brings attention to the issues in evaluating the risks of derivatives, and banks having the proper staffing, financial programs and criteria to rate derivative risks on old as well as the consistently new forms being developed. Andrew Crockett, the former manager for the Bank of International Settlements, in commenting on derivatives presented the double-edged sword that these financial instruments present, and thus the inherent dangers (Whalen, 2004) When properly used, (derivatives) can be a powerful means of controlling risk that allows firms to economize on scarce capital. However, it is possible for new instruments to be based on models, which are poorly designed or understood, or for the instruments to give rise to a high degree of common behaviour in traded markets. The result can be large losses to individual firms or increased market volatility. The foregoing provides background information that relates to understanding why and how banking credit risk exposure has and is evolving. The examples provided have been utilised to illustrate this. Seeing how banks use credit risk evaluation and assessment tools to mitigate their credit risk exposure. As credit risk is the focal point throughout this study, a definition of the term represents an important aspect. Credit risk is defined as (Investopedia, 2008): The risk of loss of principal orloss of a financial reward stemming from a borrowers failure to repay a loan or otherwise meet a contractual obligation. Credit risk arises whenever a borrower is expecting to use future cash flows to pay a current debt. Investors are compensated for assuming credit risk by way of interest payments from the borrower or issuer of a debt obligation. Risk, in terms of investments, is closely aligned with the potential return being offered (Investopedia, 2008). The preceding means that the higher the risk, the higher the rate of return expected by those investing in the risk. Banks utilise a variety of credit risk evaluation and assessment tools to apprise them of credit risk probabilities so that they can mitigate, and or determine their risk exposure. There are varied forms of credit risk models, which are defined as tools to estimate credit risk probability in terms of losses from banking operations in specific as well as overall areas (Lopez and Saidenburg, 2000, pp. 151-165). Lopez and Saidenberg (1999) advise us that the main use of models by banks is to provide forecasts concerning the probability of how losses might occur in the credit portfolio, and the manner in which they might happen. They advise that the aforementioned credit risk model projection of loss distribution is founded on two factors (Lopez and Saidenberg, 1999): the multivariate, which means having more than one variable (Houghton Mifflin, 2008) distribution concerning the credit losses in terms of all of the credits in the banks portfolio, and the weighting vector, meaning the direction, characterising these credits. As can be deduced, the ability to measure credit risk is an important factor in improving the risk management capacity of a bank. The importance of the preceding is contained in the Basel II Accord that states the capital requirement is three times the projected maximum loss that could occur in terms of a portfolio position (Vassalou, M., Xing, Y., 2003). Risk models and risk assessment tools form and are a structural part of the new Basel II Accord in that banks are required to adhere to three mechanisms for overall operational risk that are set to measure and control liquidity risk, of which credit risk is a big component (Banco de Espana, 2005). The key provisions of the Basel II Accord set forth that (Accenture, 2003): the capital allocation is risk sensitive, separation of operational risk, from credit risk, vary the capital requirements in keeping with the different types of business it conducts, and encourage the development and use of internal systems to aid the bank in arriving at capital levels that meet requirements An explanation of the tools utilised by banks in terms of evaluation as well as assessment will be further explored in the Analysis segment of this study. The steps and methodologies used by banks to identify, plan, map out, define a framework, develop an analysis and mitigate credit risk. The process via which banks identify, plan, map out, define frameworks, develop analyses, and mitigate credit risk represent areas as put forth by the Basel II Accord, which shall be defined in terms of the oversight measures and degrees of autonomy they have in this process. In terms of the word autonomy, it must be explained that the Basel II Accord regulates the standard of banking capital adequacy, setting forth defined measures for the analysis of risk that must meet with regulatory approval (Bank for International Settlements, 2007). This is specified under the three types of capital requirement frameworks that were designed to impact on the area of pricing risk to make the discipline proactive. The rationale for the preceding tiered process is that it acts as an incentive for banks to seek the top level that affords them with a lowered requirement for capital adequacy as a result of heightened risk management systems and processes across the board (Bank for International Settl ements, 2007). The foregoing takes into account liquidity (operational) risk as well as credit risk management and market risk. The risk management active foundation of the Basel II Accord separates operational risk from credit risk, with the foundation geared to making the risk management process sensitive, along with aligning regulatory and economic capital aspects into closer proximity to reduce arbitrage ranges (Schneider, 2004). The process uses a three-pillar foundation that consists of minimum capital requirements along with supervisory review as well as market discipline to create enhanced stability (Schneider, 2004). The three tiers in the Basel II Accord, consist of the following, which are critical in understanding the steps, and methodologies utilised by banks to identify, plan, map, define frameworks, analyse and mitigate risk (Bank for International Settlements, 2007): Standardised Approach This is the lowest level of capital adequacy calculation, thus having the highest reserves. Via this approach risk management is conducted in what is termed as a standardised manner, which is founded on credit being externally assessed, and other methods consisting of internal rating measures. In terms of banking activities, they are set forth under eight business categories (Natter, 2004): agency services, corporate finance, trading and sales, asset management, commercial banking, retail banking, retail brokerage, payment and settlement The methodology utilised under the standardised approach is based on operational risk that is computed as a percentage of the banks income that is derived from that line of business. Foundation Internal Rating Based Approach (IRB) (Bank for International Settlements, 2007) The Foundational IRB utilises a series of measurements in the calculation of credit risk. Via this method, banks are able to develop empirical models on their own for use in estimating default probability incidence for clients. The use of these models must first be reviewed and cleared by local regulators to assure that the models conform to standards that calculate results in a manner that is in keeping with banking processes in terms of outcomes and inputs to arrive at the end figures. Regulators require that the formulas utilised include Loss Given Default (LGD), along with parameters consisting of the Risk Weighted Asset (RWA) are part of the formulas used. Banks that qualify under this tier are granted a lower capital adequacy holding figure than those under the first tier. Advanced Internal Rating Based Approach (IRB) (Bank for International Settlements, 2007) Under this last tier, banks are granted the lowest capital adequacy requirements, if they qualify by the constructing of empirical models that calculate the capital needed to cover credit risk. The techniques, personnel and equipment needed to meet the foregoing are quite extensive, requiring a substantial investment of time, materials, funds, and personnel to accomplish the foregoing, thus this measure generally applies to the largest banks, that have the capability to undertake these tasks. As is the case under the Foundation Internal Rating Based Approach, the models developed must meet with regulator approval. Under this aspect of the Basel II provisions for this tier, banks are permitted to create quantitative models that calculate the following (Bank for International Settlements, 2007): Exposure at Default (EAD), the Risk Weighted Asset (RWA) Probability of Default (PD), and Loss Given Default (LGD). The above facets have been utilised to provide an understanding of the operative parameters put into place by Basel II that define the realm in which banks must operate. These tiers also illustrate that the depth of the manner in which banks identify, plan, map out, define frameworks, analyse and mitigate credit risks, which varies based upon these tiers. Under the Standardised Approach the formulas are devised by the regulators, with banks having the opportunity to devise their own models. Graphically, the preceding looks as follows: Chart 1 Basel II Three Pillars (Bank for International Settlements, 2007) Determine the relationship between the theories, concepts and models of credit risk management and what goes on practically in the banking world. The Basel Committee on Banking Supervision (2000) states that the goal of credit risk management is to maximise a banks risk adjusted rate of return by maintaining credit risk exposure within acceptable parameters. The foregoing extends to its entire portfolio, along with risk as represented by individual credits, and with transactions (Basel Committee on Banking Supervision, 2000). In discussing risk management theories, Pyle (1997)/span> states it is the process by which managers satisfy these needs by identifying key risks, obtaining consistent, understandable, operational risk measures, choosing which risks to reduce, and which risks to increase and by what means, and establishing procedures to monitor the resulting risk position. The preceding statement brings forth the complex nature of credit risk management. In understanding the application of risk it is important to note that credit risks are defined as changes in portfolio value due to the failure of counter parties to m eet their obligations, or due to changes in the markets perception of their ability to continue to do so (Pyle, 1997). In terms of practice, banks have traditionally utilised credit scoring, credit committees, and ratings in an assessment of credit risk (Pyle, 1997). Bank regulations treat market risk and credit risk as separate categories. J.P. Morgan Securities, Inc. (1997) brought forth the theory that the parallel treatment of market risk and credit risk would increase risk management by gauging both facets would aiding in contributing to the accuracy of credit risk by introducing external forces and influences into the equation that would reveal events and their correlation with credit risk. Through incorporating the influence and effect of external events via an historical perspective, against credit risk default rates, patterns and models result that can serve as useful alerts to pending changes in credit risk as contained in Pyles (1997)/span> statement that ended in due to changes in the markets perception of their ability to continue to do so. The Plausibility Theory as developed by Wolfgang Spohn represents an approach to making decisions in the face of unknowable risks (Value Based Management, Inc., 2007). Prior to the arrival of the Plausibility Theory, Bayesian statistics was utilised to predict and explain decision making which was based upon managers making decisions through weighing the likelihood of differing events, along with their projected outcomes (Value Based Management, Inc., 2007). Strangely, the foregoing this theory was not applied to banking. The Risk Threshold of the Plausibility Theory assesses a range of outcomes that may be possible, however it does focus on the probability of hitting a threshold point, such as net loss relative to acceptable risk (Value Based Management, Inc., 2007). The new Basel II Accord employs a variant of the foregoing that is termed as Risk Adjusted Return on Capital which is a measurement as well as management framework for measuring risk adjusted financial performance and for providing a consistent view of profitability across business (units divisions) (Value Based Management, Inc., 2007). The foregoing theory of including external events in a calculative model with business lines credit risks is yet to be fully accepted as the variables from external predictive models to result in scenarios along with credit risk models is a daunting set of equations. Ascertain the scope to which resourceful credit risk management can perk up bank performance. In equating how and the scope in which resourceful credit risk management can improve bank performance, one needs to be cognizant that credit risk represents the primary type of financial risk in the bank sector as well as existing in almost all areas that are income generating (Comptroller of the Currency, 2001). From the preceding it flows that a credit risk rating system that is managed and run well will and does promote bank soundness as well as safety through helping to make and implement decision making that is informed (Comptroller of the Currency, 2001). Through the construction and use of the foregoing, banking management as well as bank examiners and regulators are able to monitor trends as well as changes occurring in risk levels (Comptroller of the Currency, 2001). Through the preceding, management is able to better manage risk, thus optimising returns (Comptroller of the Currency, 2001). The improvement of credit risk management in terms of identification and monitoring, the process when operated effectively can improve bottom line performance through laying off risk identified as potentially being problematic in the future (KPMG, 2007). Zimmer (2005) helps us to understand the nuances of transferring credit risk by telling us: A bank collects funds and originates loans. It might only be able to attract funds if it holds some risk capital that finances losses and saves the bank from insolvency if parts of its loan portfolio default. If the bank faces increasing costs of raising external finance, CRT has a positive effect on the lending capacity of the bank. Providing the bank with additional risk capital, CRT lowers the banks opportunity cost of additional lending and increases its lending capacity. As has been covered herein, credit risk represents a potential income loss area for banks in that default subtracts from income, thus lowering a banks financial performance. The Bank for International Settlements (2003) advises that the principle cause of banking problems is directly related to credit standards that are lax, which is termed as poor risk management. The preceding reality has been documented by the The Bank for International Settlements (2003) that advises that poor credit risk management procedures and structures rob banks of income as they fail to identify risks that are in danger of default, and thus taking the appropriate actions. A discussion of the means via which resourceful credit risk management enhance bank performance in delved into under the Analysis segment of this study. To evaluate how regulators and government are assisting the banks to identify, mitigate credit risk, and helping to adopt the risk-based strategies to increase their profitability, and offering assistance on continuous basis. In delving into banking credit risk management in the United Kingdom, legislation represents the logical starting place as it sets the parameters and guidelines under which the banking sector must operate. The Basel II Accord represents the revised i

Personal Essay :: essays research papers

How could such a happy name inspire so much fear? Throughout the school, this name was dreaded, feared, cursed, and abused. At the beginning of the school year, there would always be a student weeping with hatred, crying out against his crazed science teacher, Mr. Joy. People thought of him as the embodiment of all evil possible in a teacher, a heartless dictator, a cruel old man. When he walked by, he often got stares, and whispers of â€Å"Hitler† behind his back. On that hot languid September morning, I sat in stony silence at my desk, hearing the warnings of upperclassmen echoing in my ears, waiting for Mr. Joy to appear.   Ã‚  Ã‚  Ã‚  Ã‚   As he walked in, I breathed a temporary sigh of relief. At least I am taller than him! A short wiry man with an almost military gait marched into the room. The hair on his slightly balding head was thoroughly brushed back, his clothes impeccably starched, and his shoes polished so well you could see your own reflection in them. His face seemed hardened by time and experience; he looked bitter, even a little sad. But the most striking feature about his face was his eyes: they seemed to shine with a fierce passion, a burning desire, but for what? As he talked to us about the extensive course requirements, his high expectations, and the heavy workload, we all fidgeted with nervousness in our seats. He spoke with a grim sense of determination, and we listened with a sense of impending doom. But then, suddenly, his voice changed, and his eyes glowed with more intensity than ever before. He told us about his love for biology, and how much he wished that he could impart it to us. He told us about the beauty of the complexity of life in every organism from a delicate butterfly to a steadfast giant sequoia. He was so excited about the recent developments in molecular biology and genetics, but his enthusiasm seemed sincere and real: it wasn’t just the over-caffeinated perkiness of a cheerful kindergarten teacher; it was a genuine love for learning and discovery. The assignments were long and difficult: in the first week itself we were required to memorize the entire periodic table and recite it to the class. Day after day, week after week, students faltered in class, and they were embarrassed: it seemed worse because he didn’t yell; he simply stared at you sternly yet sadly, and calmly called on the next person.

Case Analysis Texas V. Johnson

SUPREME COURT OF THE UNITED STATES ________________________________________ 491 U. S. 397 Texas v. Johnson CERTIORARI TO THE COURT OF CRIMINAL APPEALS OF TEXAS ________________________________________ No. 88-155 Argued: March 21, 1989 — Decided: June 21, 1989 This case analysis of Texas v. Gregory Lee Johnson was a Supreme Court case that overthrew bans on damaging the American flag in 48 of the 50 states. Gregory Lee Johnson participated in a political demonstration during the 1984 Republican National Convention in Dallas, Texas, where he burned the American flag.Consequently, Johnson was charged with violating the Texas law that bans vandalizing valued objects. However, Johnson appealed his conviction, and his case eventually went to the Supreme Court. Facts And Procedural History In 1984, the Republican Party convened in Dallas, Texas for their national convention. President Ronald Regan, seeking a second term in office, was to be officially delegated as the GOP (Grand Old Party) candidate for President. Scores of individuals organized a political protest in Dallas, which voiced opposition to Reagan administration policies, and those of some Dallas-based corporations.Among these protesters was a man by the name of Gregory Lee Johnson, who participated in a political demonstration, called the â€Å"Republican War Chest Tour. † As the demonstrators marched through the streets, chanting their message, a fellow protestor handed Johnson an American flag that had been taken from a flag pole at one of their protest locations. Upon reaching the Dallas City Hall, Johnson doused the flag with kerosene and set it on fire. In addition, Johnson and his fellow demonstrators circled the burning flag and shouted â€Å"America, the red, white, and blue, we spit on you. No one was hurt or threatened with injury by the act, but many who witnessed it were deeply offended. Therefore, Johnson was arrested, charged and convicted under Texas â€Å"desecration of a v enerated object† statue, sentenced to one year prison, and fined $2000. Moreover, Texas was not the only state to have anti-flag burning laws on the books, 47 other states also criminalized flag desecration (Joel, 2011. ) Principles to the case A principle to the case is mens rea accompanying â€Å"Symbolic expression â€Å"which is a phrase often used to describe expression that is mixed with elements of conduct (Cline, 2011. The issues argued were the 1st Amendment, and protest demonstrations. The Supreme Court has made clear in a series of cases that symbolic expression (or expressive conduct) may be protected by the First Amendment (Cline, 2011. ) However, of the approximately 100 demonstrators, Johnson alone was charged with a crime. Johnson appealed his conviction and his case eventually went to the Supreme Court. The principle to the case is burning a U. S. flag in protest was expressive conduct protected by the First Amendment.In determining the case, the court first considered the question of whether the First Amendment reached non-speech acts, since Johnson was convicted of flag desecration rather than verbal communication, and, if so, whether Johnson's burning of the flag constituted expressive conduct, which would permit him to invoke the First Amendment in challenging his conviction. The First Amendment literally forbids the abridgment only of ‘speech,’ but has long recognized that its protection does not end at the spoken or written word.If there is a bedrock principle underlying the First Amendment, it is that the government may not prohibit the expression of an idea; simply because society finds the idea itself offensive or disagreeable (Find Law, 2011. ) In addition, Johnson argued that the Texas flag desecration statute violated the First Amendment, which says â€Å"Congress shall make no law †¦ abridging the freedom of speech †¦ or the right of the people peaceably to assemble, and to petition the government f or a redress of grievances. † Consequently, the state of Texas argued that it had an interest in preserving the flag as a symbol of national unity.Analysis Of The Court Findings I agree to some extent with the ruling, since it claims that its interest in preventing breaches of the peace justifies Johnson's conviction for flag desecration. However, no disturbance of the peace actually occurred, or threatened to occur because of Johnson's burning of the flag. Johnson deliberately chose to burn the American flag in order to demonstrate his deep distress over the nation’s policies. His gesture was an attempt to cry out to the government for a redress of grievances, and not to commit an act of juvenile vandalism.The 1st and 14th amendments protect Johnson’s symbolic protest. Also, the only evidence offered by the state at trial to show the reaction to Johnson's actions was the testimony of several persons who had been seriously offended by the flag burning. This case sparked years of debate over the meaning of the flag, including efforts to amend the Constitution to allow for a prohibition of the â€Å"physical desecration† of the flag. The only evidence offered by the State at trial to show the reaction to Johnson's actions was the testimony of several persons who had been seriously offended by the flag burning.They rejected the claim that the ban was necessary to protect breaches of the peace due to the offense that burning a flag would cause. Burning a U. S. flag in protest was expressive conduct protected by the First Amendment. â€Å"The First Amendment literally forbids the abridgment only of ‘speech,’ but we have long recognized that its protection does not end at the spoken or written word†¦. If there is a bedrock principle underlying the First Amendment, it is that the government may not prohibit the expression of an idea simply because society finds the idea itself offensive or disagreeable. (Find Law, 2011. ) Another fact I find interesting is that Johnson was prosecuted because he knew that his politically charged expression would cause a â€Å"serious offense. † If he had burned the flag as a means of disposing of it because it was dirty or torn, he would not have been convicted of flag desecration under this Texas law; however, federal law designates burning as the preferred means of disposing of a flag â€Å"when it is in such condition that it is no longer a fitting emblem for display,† 36 U. S. C.  § 176(k), and Texas has no quarrel with this means of disposal (ACLU, 2011. Johnson was convicted for engaging in expressive conduct. The State's interest in preventing breaches of the peace does not support his conviction, because Johnson's conduct did not threaten to disturb the peace; nor does the State's interest in preserving the flag as a symbol of nationhood and national unity justify his criminal conviction for engaging in political expression. Therefore, the jud gment of the Texas Court of Criminal Appeals was affirmed. Conclusion To put it briefly, grunts and howls do not inspire laws banning them; owever, a person who grunts in public is looked at as being strange, but laws do not punish them for grunting instead of communicating in whole sentences. If people are irritated by desecration of the American flag, it is because of what they believe is being communicated by such acts. Thus, amending the Constitution to permit bans on flag burning is not just a solution in search of a problem. Instead, I believe it is also a â€Å"solution† which will likely serve to create the problem it is trying to solve in the first place. References ACLU (2011. Burn the Flag or Burn the Constitution? Retrieved September 1, 2011 from http://www. aclu. org/blog/tag/flag-burning. Cline, A. (2011) Can Flag Burning Send a Political Message Be Made a Crime? Retrieved September11,2011fromhttp://atheism. about. com/od/flagburningcourtcases/a/TexasJohnson. ht ml. Find Law (2011. ) Cases and Codes. Retrieved September 1, 2011 from http://caselaw. findlaw. com/wa-supreme-court/1102265. html. Joel, S. (2011. ) Texas v. Johnson. Retrieved September 1, 2011 from book Criminal Law, tenth Edition, Page47.

Hassan in The Kite Runner Essay

A perfect friend could be described as someone who is honest and trustworthy, they make you laugh, someone you enjoy spending time with, and most of all they know how to have a good time and pick you up when you’re down. The novel The Kite Runner written by Khaled Hosseini depicts the setting of a great friendship in the best and most thoughtful way but the definition does not seem to match with what others seem to think. Hassan and Amir show utmost loyalty and humility towards each other but with one event the course of both of their lives change and both sides of their friendship do not remain equal. In their childhood days in Kabul Hassan acts as a brave, humble, considerate and hardworking, young boy who only wishes for Amir to succeed and be happy, almost to the extent of being too good to be true. Hassan displays these qualities and attributes through a number of important and notable events. First, Hassan protects Amir in any situation even if it puts him in danger. Second, after retrieving the kite from Assef, Hassan doesn’t even mention what took place to Amir showing his utmost loyalty. Third, Even after he is betrayed by Amir, Hassan continues to lie for the person he considers his best friend. Through these sets of events it will be evident how Hassan shows his attributes and how he, as a character in the novel, might be considered as â€Å"too good to be true† Hassan and Amir were raised together, grew up with each other and lived together for a large chunk of their lives. Although Amir is the only one that goes to madrehseh, school, Hassan does a very good job of trying to keep up with Amir. In Afghanistan â€Å"school smarts† don’t get you that far in public life, situations arise where a young boy cannot merely â€Å"think† his way out of it. This sort of Situation arises between Hassan, Amir and a couple of boys who seemed to be up to no good. Assef, a notorious sociopath and violent boy, and his two friends Wali and Kamal mock Amir for socializing with a Hazara, which, according to Assef, is an inferior race whose members belong only in Hazarajat. One day, he prepares to attack Amir with stainless steel brass knuckles, but Hassan bravely stands up to him, threatening to shoot out Assef’s eye out with his slingshot Amir had bought him. Assef decides to walk away promising to be back. The fact that Hassan was only being bullied and not the one being threatened and still decides to stand up to Assef shows his absolute love and true loyalty to Amir. Even though this situation is early in the book, its significance is still that of utmost importance for the fact of it showing how Hassan will protect Amir in any and all situations even if it puts him in danger. The kite fighting tournament is an event that almost every child in Kabul participates in. For each child that flies a kite, there is one who runs and grabs the kite loosing kites as they fall. Amir and Hassan form a team and they work together every year to try to win the tournament, Amir flies and Hassan runs the kites down. Against all odds they win the competition and Hassan goes to run it down. Soon enough Amir finds Hassan with Assef once again. Too scared to intervene, Amir stands and watches his most loyal friend Hassan get raped. One of the many climaxes of The Kite Runner is this scene because for the rest of Amir’s life he lives with it on his conscience, that he did not do anything to help. Amir and Hassan never speak of that moment again but both of them know what had happened that day. Just like any other average person Hassan could have gotten very mad at Amir, but the fact that he chooses not to shows how humble, caring and considerate of Amir. Not only does Hassan later want to continue their relationship how it was before but he in fact looks to take the blame as he asks Amir later on what he had done wrong to upset him. All of Hassan’s actions are shown in the most loyal and confederate way. As our novel progresses Hassan and Amir become further and further apart from each other, to the point that Amir eventually decides he would no longer like to live in the same household as him. All this time Hassan has been trying to make things wright between them but Amir would refuse to listen. Amir’s frustration ultimately leads to him framing Hassan to get him to leave. In a confusing exchange of dialogue Hassan takes the blame and apologizes, Baba accepts but Ali insists on their immediate dismissal. Again we see Hassan’s sheer love for Amir as he does not want him to get into trouble. Taking all the blame seems to be one of the best ways that Hassan can show his friendship. Doesn’t seem like much, but having the courage and bravery to do it to this extent truly makes Hassan a literally unbelievable character. Although Hassan and Amir’s relationship does not match that which others believe to be true, it is much more. The reason their friendship isn’t the same as others is because they are not friends; they are and always will be brothers. Hassan character is a brave, humble, considerate and hardworking, young boy who only wishes for Amir to succeed and be happy. Hassan displays these qualities and attributes through a number of important and notable events. First, Hassan protects Amir in any situation even if it puts him in danger. Second, after retrieving the kite from Assef, Hassan doesn’t even mention what took place to Amir showing his utmost loyalty. Third, Even after he is betrayed by Amir, Hassan continues to lie for the person he considers his best friend His character is without a doubt too good to be true because of the fact that Khaled Hosseini puts him in the wrong position, Hassan is not Amir friend nor will he ever be. They are brothers for life.