Moral Hazard and the Financial Crisis Research Paper

Moral Hazard and the Financial Crisis - Research Paper Example In the present business phenomenon, moral hazards have emerged as a major issue of concern which needs enthusiastic initiatives to develop awareness among the industry participants. Moral hazards normally occur when people file more claims or stick longer to a particular claim irrespective of the consequences likely to occur due to such perseverance causing massive disruptions to the smooth functioning of the industry operations (Butler and Gardner 1). Contextually, it has often been argued that moral hazards have been one of the fundamental reasons for the recent financial crisis where various operations conducted by the financial institutions were observed to disregard their ethical responsibilities towards the various community groups. As stated by Dowd (1), policy measures adopted by financial institutions practicing free markets were the underlying causes to the financial crisis witnessed in 2008. Based on this context, the paper will intend to discuss the moral issues related w ith the occurrence of the financial crisis in 2008 signifying the importance of ethical concerns when designing and implementing policy measures at a country-level. Theoretical Explanation of Moral Hazards as a Cause of Financial Crisis Moral hazards are said to occur when the interests and rights of one party is compromised for the benefits or interests of the other party(s) engaged in the process In the current day context, critiques often argue that moral hazards have today become a persistent and unavoidable occurrence in the financial system of any country that in turn severely affects the stability of any economy. It is worth mentioning in this context that moral hazards are the apparent consequences of intentional or unintentional ethical misconducts by decision makers associated with the various business dimensions. However, in common instances, unethical behaviors conducted at the organizational level by company executive are scrutinized for the critical assessment of the f inancial and social positioning of a particular brand. Although in the context, ethical misconducts may also occur at country level policies fundamentally those which are directed with the intention to manage industry operations in monetary terms (Nowak and O’Sullivan 147-150). In the country-level assessment, occurrences of moral hazards have often been considered to play a prominent role in financial crisis situations. Historic evidences have also revealed that moral hazards within the policy making dimension have caused serious disruptions in the regular business functioning in a particular economy (Isard 193-200). These evidences can be further assessed from two perspectives, i.e. the social perspective of moral hazards and the economist perspective of moral hazards. From a social perspective, moral hazards are criticized as the fundamental causes of systematic risks in the business context. It is in this context that socialists have often depicted their concern towards t he role played by moral hazards in causing industrial threats for systematic risks which is recognized as an initial

File Management Essay Example | Topics and Well Written Essays - 1000 words

File Management - Essay Example This essay focuses on analyzing and describing of modern file management and it's systems that refers to the fundamental methods used in naming, storing and handling computer files. In many applications today, a file acts as a central element, with the exception of the real-time and other specialized applications where, virtually, all output is saved within a file to provide for long term storage for future use by either the user or other programs. The lifespan for the files is independent of any applications that use them for their input-output functions. Therefore, users must be in a position to create access, save and maintain the files content and integrity. These actions encompass the file management systems. A typical file management system, that is discussed in the essay comprises of system utility programs running as privileged applications. Files are manageable in different ways based on platform and the type of file manager. Despite there being different kinds of file manag ers, effective file management must entail proper organization, management and location of directories, files and folders. In summary, file manager enhances locating the files, organizing, storing and backing up files. In organizing the files, the applications are made easier to find through creation of the program file. It is suggested that the documents with same file extensions can be saved in their own folders to facilitate easier and quick retrieval. The user can create nested folders within the folders to prevent orphans and widows.

Discussion Board Assignment Essay Example for Free

Discussion Board Assignment Essay In biology a species is a group of animals that is able to mate and produce healthy offspring. According to the biology online dictionary, population is a group of organisms of one species that interbreed and live in the same place at the same time. This discussion is based on the Nile crocodile which is found in Africa. Its species is biologically known as Crocodylas niloticus. It can grow to length of seven metres, and although it mainly feeds on larger mammals including human beings it can also feed on fish. If we take the year 2000 as our time zero then we might see a great change in the size of the body of the Nile crocodile in coming years. The trait that will most likely change in this species is the size of teeth. As at now, the Nile crocodile has got big teeth which are used to crush the large prey it catches. This means that the main source of food will be fish. Since most of fishes available are small in size then it means that the big teeth will be of no use. The crocodiles which are big in the size of their bodies are going to die since the food available will be less and only efficient for the ones which are small in size. As time goes by and due to unavailability of enough food, you will find that small sized crocodiles will have a higher chance of survival as a result of natural selection. Due to environmental changes and human encroachment, in future wild animals (prey) will be fewer. Human beings are increasingly destroying the wild animals’ habitats in Africa, thereby, reducing the population of the wild animals which are the main crocodiles’ prey. It is also worth to note that, environmental changes like global warming which is causing severe droughts in Africa is affecting the populations of the wild animals (crocodiles’ main prey). REFERENCE Biology online, retrieved on 31st, October, 2008, available at http://www. biology-online. org/dictionary/Population Species of crocodilians, retrieved on 31st, October, 2008, available at http://science. jrank. org/pages/1867/Crocodiles-Species-crocodilians. html

Queen Elizabeth Essay -- Free Essay Writer

Queen Elizabeth I was the most remarkable leader in English history. She was born on September 7, 1533 at Greenwich Palace. Her birth was not celebrated; instead it was a bitter disappointment to her father King Henry VIII, who was highly anticipating the birth of a son. Her mother was executed for treason shortly after her birth, and as Aninna Jokinen states in her article, â€Å"Elizabeth lost all heredity to the throne† (Jokinen 1). After Henry VIII’s third wife Jane Seymour died, however, Elizabeth was placed back in the order of succession after Edward and Mary by act of parliament. When she came into power, Elizabeth I had to clean up the big mess that was left by her sister Mary’s five year reign. Mary had abruptly changed the national religion from Protestantism to Catholicism, and she was not going to hear any objections. She mercilessly hunted down and executed Protestants who refused to convert. After Elizabeth I took the throne, she switched back to Protestantism and, as Miriam Greenblatt says, â€Å"restored religious order in England† (Greenblatt 15). Greenblatt continues to say that â€Å"under Elizabeth I, religion and nationality were almost the same† (Greenblatt 19). Her first act as Queen was to form a loyal government: she replaced the Privy Council with qualified advisors such as nobles, lawyers, and businessmen (Greenblatt 15). Although she had an excellent board of advisors, she did not allow them to dominate her decisions (Alchin 1). Elizabeth was determined to set up a safe and stable government. During Queen Elizabeth’s forty-five year reign, England prospered considerably. â€Å"Her reign witnessed a wide increase in literacy and achievements in the arts† (Alchin 1). Famous writers such as Shakespeare, Edmund Spenser,... ...beth had survived through all this turmoil is very remarkable. Queen Elizabeth I had truly earned the love and devotion of her people. Before she was crowned, most people did not believe that a woman could take on the responsibility of ruling a country; Elizabeth proved them very wrong. Her accession day, November 16, even became a national holiday (Havelin 65). â€Å"Queen Elizabeth I developed her image of the devoted ruler who courted her subjects’ opinions and as Gloriana, the goddess around whom England revolved† (Greenblatt 15). Queen Elizabeth I was the strongest monarch in English history. Throughout her reign she proved that she really did care about her country and the people in it. She successful in keeping the country together and safe, as many before her had failed to do. Even after four-hundred years, the people of England still love and remember her.

Tooth and Claw

â€Å"Disguises† Every character and their relationships between them in â€Å"Tooth and Claw† by T. Coraghessan Boyle, disguise themselves in many ways, both consciously and unconsciously, all for different purposes. The author introduces us to four major characters in this story that all interact with each other and have some sort of mask over themselves hiding their true identities and motives. The main character James Turner Jr. as recently moved to California â€Å"So that I could inject a little excitement into my life and mingle with all the college students in the bars†¦Ã¢â‚¬  he lives by himself in an apartment which his aunt pays for even though he has a full time job. This apartment is extremely messy and unorganized. It seems to me that James is not living up to his full potential, he is running away and maybe even hiding from something the apartment is perfect example of just that. James has a full time job but was recently told to take some time off and now he does not know what to do with his free time. James is drawn to a bar named â€Å"Daggets,† â€Å"Daggets is the only place I feel comfortable. And Why? Precicely because it was filled with old men drinking themselves into oblivion. It made me think of home. Or feel at home, anyway. † James has moved halfway across the country to â€Å"Mingle with the college students† yet he frequently visits a bar that is surrounded with â€Å"old men. † He has been eyeing a waitress at â€Å"Daggets† named Daria, but â€Å"hadn’t worked up the nerve to say more than hello and good-bye to her. â€Å"Daggets† may serve as another mask that James is hiding beneath, it reminds him of his father (who died sixth months earlier) and he can also relate to Daria because of how close in age they are. A mysterious man enters the bar named â€Å"Ludwig† who begins to show falsehoods right from the start. He begins to flirt with Daria and orders two raw eggs from her, everyone believes he is going t o eat them but he does not. After James has had a few drinks Ludwig convinces James to play him in a game of dice but doesn’t tell him what they are playing for. Ludwig surprises everyone and brings in a large cage with an African wild cat nside it, to everyone’s surprise this is what they will be playing for. James doesn’t have the courage to back down and â€Å"I couldn’t back out without feeling the shame rise to my face—and there was Daria to consider, because she was watching me, too. † It seems as though Ludwig sort of a con artist, he brings an exotic animal that he wants to get rid of to a bar where almost every person in there is judgment impaired. This was Ludwig’s plan, go to a bar, convince some drunk people to play a game, and dump this animal on them and leave. James is intoxicated enough to fall right into his plan, not knowing what hit him until it was too late. James wins the game of dice, winning the cat and immediately after Ludwig disappears and James is trying to figure out what has just happened. Daria witnesses this and immediately shows interest, excitement, and curiosity. â€Å"Daria rose and came to me with a look of wonder. ‘Don’t do a thing till I get off, O. K.? ’ and in her favor she took hold of my arm. ‘I get off at nine, so you wait, O. K.? ’† Daria is falsely identifying herself to James (unconsciously or consciously) she begins to lead him on. James believes she is interested in him but she is really interested, excited and curious about the cat and the moment, she is in for the ride. Daria has her own motives, it seems she does not really care about James. They go shopping together to buy essentials for the cat, Daria in control of the situation and in complete disregard for James. â€Å"I watched Daria march up and down the aisles seeking out kitty litter and the biggest cat pan they had†¦Ã¢â‚¬â„¢I’ve only got ten bucks,’ I said†¦she reached back to slip the band of her ponytail so that her hair fell glistening across her shoulders, a storm of hair, fluid and loose, the ends trailing down her back like liquid in motion. She tossed her head impatiently. ‘You do have a credit card, don’t you? ’† Daria is subtly flirting with James; she is leading him on again so that she will get what she wants. She does not care whether he has any money; she is so interested and curious about the animal that she will do anything to get what she wants. The next two days Daria stays at James’s house and they occasionally talk and have long conversations but becomes clear that she is only there for the concern and interest in the cat. The first day she leaves and says â€Å"Take care of our cat now, O. K.? † It seems as though she is implying that they are together and the cat is both of theirs. This seems to confuse James, he doesn’t know exactly what she meant by that. Replying to this he shows another falsehood by not showing exactly how he feels, â€Å"I shrugged in a helpless, submissive way, the pain of her leaving as acute as anything I’d ever felt. ‘Sure,’ I said. † She then pulls him in for a kiss and calls him â€Å"sweet. Every time she enters the apartment she goes right to the cat and every time she wakes up she immediately says â€Å"We have to feed the cat. † Soon Daria’s ride is over, her interest is lost in the cat and in James (if there was any real interest to begin with) and so is her curiosity. She soon figures out James’s real personality, how he is basically a loser and whatever interest she may have had with him, has been lost. After she has spent the last three days with him she ends up telling him that she has a boyfriend and that she doesn’t want to give him the wrong â€Å"impression. Whether she realizes it or not she leads him on this entire time and already did give him the wrong impression, she was falsely identifying herself and her actions towards James. James does not know what to do with himself after what Daria informs him. He formed a dependence on her, â€Å"I felt lost without her. † He becomes angry and hostile with the manager at â€Å"Daggets,† his boss, and himself. After he is asked to leave the bar for drinking too much and insulting the bartender, James faces the cat and essentially attempts to commit suicide. He goes back to his apartment, â€Å"Pulled open the door, and slipped inside. And then—and I don’t know why—I pulled the door shut behind me. † Every character in this story misrepresents themselves in one way or another with the way they act towards each other and with what they have people believe. Even the giant African cat misrepresents itself, it does not belong in a bar, nor does it belong in an apartment. The characters in this story hide behind masks, physically or theoretically all to gain something or to hide something.

The Future In Technology Essay - 617 Words

Can you imagine a machine so big it dwarfs entire planets? Can you imagine a machine with a single goal, a single purpose? Can you see it, hovering in space, blotting out the stars, so big it bends thought? Can you imagine a machine so complex that no human has ever even tried to understand it, and yet the machine exists because humans built it in the first place? A machine consisting of entire worlds, entire ecosystems powered by chemicals and energy regulated by computers that build and program themselves. Imagine these worlds connected by transport and communications systems, always kept up to date automatically, and modified as needed by the people who live in these habitats. Can you imagine a machine that makes money obsolete,†¦show more content†¦Can you see the hundreds of spheres being suspended in perfect harmony, each sphere containing an atmosphere with a functioning food chain and energy-tree, genetically perfect, everything held in place by massive computers. All this simply because a member of the human race desired such a world to live on. An entire Eco-sphere designed, built, genetically engineered to fulfill the needs of a single human. Do you want a desert environment, with light rains in the mornings, or do you want an ocean world, with crystal living quarters twenty miles under water that glows in the dark? Whateve r you want, this machine will design it for you, creating new technology and materials where necessary if necessary. Can you imagine how many needs a trillion humans have each day, how many needs this machine is forced to fulfill simply because its programmed to? Can you imagine the strain this machine is under? Can you imagine the minerals and energy needed to keep such a system working? Can you imagine the computer at the core of all this, the master that drives all this, the computer that controls everything this machine has ever done? This master computer contains a single line of code. Can you see all this in your mind? Can you imagine what this code must look like? What kind of genius wrote this code? He wasnt a genius, and the code is simple enough for a five-year-old to understand. quot;Make Humans Happyquot;. This entireShow MoreRelatedThe Future Of Technology And Technology1633 Words   |  7 PagesPrey Report Earth: a place of rapidly-evolving, diverse organisms with technology so advanced that it is frightening to most people. It is truly crazy that the technology that powers robots and tangible devices/machines are as powerful as it is. In the current technological world, complex machines, including humanoid robots for example, are designed to move and do human actions. Alongside humanoid robots, there are hundreds upon hundreds of new technological advancements that make abilities of machinesRead MoreTechnology And Technology : The Future Of Technology861 Words   |  4 PagesTechnology is the application of scientific knowledge for practical purposes, especially in an industry. Technology is probably the most evolved form of work known to businesses and people alike. We have seen us going from floppy disks to flash drives; from typewriters to keyboards capable of backspacing without having to start over and probably one of the most innovative changes have been the brick like phones and phones alike to the main use of sleek iPhones. The main idea and purpose for phonesRead MoreFuture Of Technology704 Words   |  3 Pages Technology is a part of our past, present, and future. Without technology who knows where our society would be right now. As we find new technology and improve current technology, it changes our future. The future is very uncertain, but the one thing we do know is that technology will continue to become more advanced and change our lives. Looking back in the early days where technology was very limited, to where our society is astonishing. The telephone was a huge technology jump. Alexander GrahamRead MoreThe Future Of Technology828 Words   |  4 Pages1. Tech Giants, Once Seen as Saviors, Are Now Viewed as Threats- Oct. 12, 2017 Technology companies such as Facebook, Google, and Amazon were once seen as the pinnacle of innovation for not only the U.S, but the entire globe; This image has changed. 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The Organization Behaviors Of Enron Essay - 1390 Words

The Organization Behaviors of Enron Introduction Enron is considered America’s largest corporate failure in history and is a story about greed, fraud, and human tragedy. In 1986, Houston National Gas and Internorth, a natural gas pipeline company, merged to create Enron with Ken Lay as the chair and chief executive officer (CEO). Lay transformed the company into a high tech global operation that traded water, energy, broadband, and electricity. In less than a year, problems arose of fraud and an investigation confirmed inaccuracies with the companies accounting records. In 2000, Enron’s gross revenues exceeded $100 billion, yet no one really knew how Enron was making its money (Stein Pinto, 2011). In September 2001 when bankruptcy was imminent, top executives secretively took their stock options worth millions while encouraging employees to keep theirs in the company. Three months later, more than 20,000 employees lost their jobs, insurance, and pensions when Enron announced bankruptcy. The movie Enron, The S martest Guys in the Room, is about how management, leadership, and organizational structures failed and caused unnecessary harm to many people (Gibney, 2005). This paper will look at how organizational behaviors including; ethics, culture, and leadership styles of top executive leaders caused the debacle of Enron. Ethics The three most notable executives at Enron were Jeff Skilling, Ken Lay and Andrew Fastow. Jeff Skilling believed that the only thing thatShow MoreRelatedEthical Issues Faced By Enron Should Have Be Aware Of Certain Risk Factors1301 Words   |  6 PagesEthical Problems Head On Enron should have be aware of certain risk factors can lead to unethical behavior. Top management must adhere and emulate the highest ethical standards. In order to stop unethical behavior within an organization, there must be a way employees to discuss their experiences with someone outside the organization. This creates a firewall between employees and management where fear of retribution for their actions does not exist. Addressing unethical behavior quickly and thoroughlyRead MoreEthics Reflection Paper1094 Words   |  5 PagesEthics Reflection Paper STR/581 July 26, 2010 University of Phoenix Ethics Reflection Paper Before WorldCom and Enron, many organizations unconditionally placed social and ethical responsibility with administrative legal and compliance obligations, regulations and rules. Today, a company’s ethical behavior is vital to the success of the company. Consumers not only expect but demand that a company is visible in their practices and are held accountable for their actions; be itRead MoreWeek 2 Essay747 Words   |  3 Pageschanging economy. Organizations around the world are penalized for failing to follow the new laws or sanctioned by the security exchange commission. The precautions are put in place to help protect the organizations shareholders and investors.   Ã‚  Ã‚  Ã‚  Ã‚  One of the largest known corporation’s entities years ago was known as Enron. The downfall of Enron occurred because the organization failed to train his or her business executive’s how to investigate company information and operations. If Enron had practicedRead MoreHow Ethics Influence Behavior in Organizations1010 Words   |  5 PagesHOW ETHICS INFLUENCE BEHAVIOR IN ORGANIZATIONS In reality, there are some specific regulations governing our lives. However, regulations do not restrain everything. In some aspects, ethics play a much more important role than regulations. Ethics is â€Å"the code of moral values or principles that governs the behaviors of a person or group with respect to what is right or wrong† (Daft amp; Armstrong, 2012, p.369). Unethical behavior is very common in organizations. When people need to make a decisionRead MoreA Discussion On Ethics And Law Essay1635 Words   |  7 Pages Enron, a Discussion on Ethics and Law Leadership’s Role in Ethical Dilemma As documented in a promotional video for Enron, Kenneth Lay states: â€Å"Enron is a company that deals with everyone with absolute integrity. We play by all the rules. . . We want people to leave a transaction with Enron thinking they have been dealt with in the highest possible way, as far as integrity and truthfulness and really doing our business right.† (Enron Vision and Values, 1998, 3:32) Whereas this message was intendedRead MoreBusiness Failure Paper1045 Words   |  5 Pagesthe largest energy companies in the world, Enron Corporation. I will discuss the leadership, management, and organizational structure of the company and how this failure could have been prevented. Company Overview Enron Corporation was an American energy company in downtown Houston, Texas. Enron employed more than 22,000 workers and was one of the largest companies dealing with electricity, natural gas, and communications. In the year 2000, Enron claimed revenues of over $100 billion. ByRead MoreThe Reprehensible Story Of The Enron Corporation1680 Words   |  7 Pagesreprehensible story of the Enron Corporation’s rapid rise to success followed by their consequential disgraceful fall is one that has captivated the attention of the public for more than a decade. Not only was this scandal highlighted largely due to the widespread publication of the Enron Corp’s actions in the newspapers and television but must notably their substantial contradictory actions against not only basic ethics but Enron’s published Code of Ethics. Outlining the reputation of Enron, Kenneth Lay, ChairmanRead MoreOrganizational Culture : The Demise Of Enron1489 Words   |  6 Pagescorporations but some, like Enron operate parallel to the all the good they portray but in a vacuum they operate with only their selfish desires and greed. Organizational culture can be difficult to define in a sense because it’s not a palpable concept. For example, culture is more like a tradition, belief, or something cultivated; surely it can be felt, but it can’t be grasped. Thus this paper will examine the definition of organizational culture, the demise of Enron, and discuss ways the leadershipRead MoreThe Ethics Of The Enron Collapse Of Enron1366 Words   |  6 PagesCulture of Enron Before Enron bankruptcy it was one of America’s most powerful and successful energy companies. The company thrived and pushed to be number one no matter the circumstance, in this company’s case if it meant doing it illegally. Fraud accounting, auditing, energy trading, and illegal finance was the company’s downfall leading to corruption and most of all greed. Enron was aggressive and a competitive environment. The documentary was just not giving the name â€Å"The Smartest Guys in theRead MoreOrganizational Culture : The Smartest Guys Of The Room1649 Words   |  7 Pagesdistinguishes the organization from other organizations† (Robbins 249). A strong organizational culture is one whose organization’s core values are both intensely held and widely shared. After viewing Enron: The Smartest Guys in the Room, it is obvious that Enron had not only an organizational culture that was strong, but one that was extreme and aggressive. This aggressive and str ong organizational culture discouraged both teamwork and ethical behavior and in the end it only plagued Enron until it eventually