Analysis of OECD Principles of Corporate Governance

Investigation of OECD Principles of Corporate Governance Foreword The OECD Principles of Corporate Governance were embraced by OECD Ministers in 1999 and have since become a global benchmark for strategy creators, financial specialists, partnerships and different partners around the world. They have propelled the corporate administration plan and given explicit direction to authoritative and administrative activities in both OECD and non OECD nations. The Financial Stability Forum has assigned the Principles as one of the 12 key norms for sound monetary frameworks. The Principles likewise give the premise to a broad program of collaboration among OECD and non-OECD nations and support the corporate administration segment of World Bank/IMF Reports on the Observance of Standards and Codes (ROSC). The Principles have now been completely explored to assess late turns of events and encounters in OECD part and non-part nations. Strategy creators are presently progressively mindful of the commitment great corporate administration makes to money related mar ket soundness, speculation and financial development. Organizations better see how great corporate administration adds to their seriousness. Financial specialists particularly aggregate venture foundations and annuity finances acting in a trustee limit acknowledge they have a task to carry out in guaranteeing great corporate administration rehearses, along these lines supporting the estimation of their speculations. In todays economies, enthusiasm for corporate administration goes past that of investors in the presentation of individual organizations. As organizations assume a urgent job in our economies and we depend progressively on private area establishments to oversee individual investment funds and secure retirement wages, great corporate administration is critical to wide and developing fragments of the populace. The survey of the Principles was attempted by the OECD Steering Group on Corporate Governance under a command from OECD Ministers in 2002. The audit was upheld by a thorough study of how part nations tended to the distinctive corporate administration challenges they confronted. It additionally drew on encounters in economies outside the OECD zone where the OECD, in co-activity with the World Bank and different patrons, sorts out Regional Corporate Governance Roundtables to help local change endeavors. The survey procedure profited by commitments from numerous gatherings. Key universal foundations took part and broad counsels were held with the private division, work, common society and agents from non-OECD nations. The procedure additionally profited extraordinarily from the bits of knowledge of globally perceived specialists who took part in two elevated level casual social events I assembled. At long last, numerous helpful proposals were gotten when a draft of the Principles was ma de accessible for open remark on the web. The Principles are a living instrument offering non-restricting measures and great practices just as direction on usage, which can be adjusted to the particular conditions of individual nations and locales. The OECD offers a gathering for continuous discourse and trade of encounters among part and non-part nations. To remain side by side of continually evolving conditions, the OECD will intently follow improvements in corporate administration, recognizing patterns and looking for solutions for new difficulties. These Revised Principles will additionally fortify OECDs commitment and responsibility to aggregate endeavors to reinforce the texture of corporate administration around the globe in the years ahead. This work won't kill crime, however such action will be made increasingly troublesome as rules and guidelines are received as per the Principles. Significantly, our endeavors will likewise help build up a culture of qualities for proficie nt and moral conduct on which well working markets depend. Trust and honesty assume a fundamental job in financial life and for business and future success we need to ensure that they are appropriately remunerated. OECD Principles of Corporate Governance The OECD Principles of Corporate Governance were initially evolved in light of an assemble by the OECD Council Conference at Ministerial level on 27-28 April 1998, to create, related to national governments, other important universal associations and the private division, a lot of corporate administration measures and rules. Since the Principles were concurred in 1999, they have framed the reason for corporate administration activities in both OECD and non-OECD nations the same. Also, they have been embraced as one of the Twelve Key Standards for Sound Financial Systems by the Financial Stability Forum. As needs be, they structure the premise of the corporate administration part of the World Bank/IMF Reports on the Observance of Standards and Codes (ROSC). The OECD Council Meeting at Ministerial Level in 2002 consented to review advancements in OECD nations and to survey the Principles considering improvements in corporate administration. This undertaking was endowed to the OECD Steering Group on Corporate Governance, which contains agents from OECD nations. Likewise, the World Bank, the Bank for International Settlements (BIS) and the International Monetary Fund (IMF) were onlookers to the Group. For the evaluation, the Steering Group likewise welcomed the Financial Stability Forum, the Basel Committee, and the International Organization of Securities Commissions (IOSCO) as specially appointed eyewitnesses. In its audit of the Principles, the Steering Group has attempted complete counsels and has arranged with the help of individuals the Survey of Developments in OECD Countries. The meetings have included specialists from countless nations which have taken an interest in the Regional Corporate Governance Roundtables that the OECD arranges in Russia, Asia, South East Europe, Latin America and Eurasia with the help of the Global Corporate Governance Forum and others, and in co-activity with the World Bank and other non-OECD nations too. Besides, the Steering Group has counseled a wide scope of invested individuals, for example, the business area, financial specialists, proficient gatherings at national and universal levels, worker's guilds, common society associations and worldwide standard setting bodies. A draft adaptation of the Principles was put on the OECD site for open remark and brought about countless reactions. These have been made open on the OECD site. Based on the conversations in the Steering Group, the Survey and the remarks got during the wide extending meetings, it was reasoned that the 1999 Principles ought to be modified to consider new turns of events and concerns. It was concurred that the amendment ought to be sought after with the end goal of keeping up a non-restricting standards based methodology, which perceives the need to adjust execution to differing lawful monetary and social conditions. The amended Principles contained in this record subsequently expand upon a wide scope of experience in the OECD region as well as in non-OECD nations. Preface The Principles are expected to help OECD and non-OECD governments in their endeavors to assess and improve the lawful, institutional and administrative system for corporate administration in their nations, and to give direction and recommendations to stock trades, speculators, companies, and different gatherings that have a job during the time spent growing great corporate administration. The Principles center around traded on an open market organizations, both money related and non-budgetary. Be that as it may, to the degree they are considered relevant, they may likewise be a valuable apparatus to improve corporate administration in non-exchanged organizations, for instance, secretly held and stateowned undertakings. The Principles speak to a typical premise that OECD part nations consider fundamental for the improvement of good administration rehearses. They are planned to be brief, justifiable and available to the global network. They are not expected to fill in for government, s emi-government or private area activities to grow increasingly point by point best practice in corporate administration. Progressively, the OECD and its part governments have perceived the cooperative energy among macroeconomic and basic strategies in accomplishing major strategy objectives. Corporate administration is one key component in improving financial effectiveness and development just as upgrading speculator certainty. Corporate administration includes a lot of connections between a companys the board, its board, its investors and different partners. Corporate administration additionally gives the structure through which the targets of the organization are set, and the methods for achieving those destinations and checking execution are resolved. Great corporate administration ought to give appropriate motivators to the board and the executives to seek after destinations that are in light of a legitimate concern for the organization and its investors and should encourage compelling observing. The nearness of a successful corporate administration framework, inside an individual organization and over an economy in general, assists with giving a level of certainty that is fundamental for the best possible working of a market economy. Subsequently, the expense of capital is lower and firms are urged to utilize assets all the more productively, in this way supporting development. Corporate administration is just piece of the bigger monetary setting in which firms work that incorporates, for instance, macroeconomic approaches and the level of rivalry in item and factor markets. The corporate administration structure additionally relies upon the lawful, administrative, and institutional condition. What's more, factors, for example, business morals and corporate familiarity with the natural and cultural interests of the networks in which an organization works can likewise affect its notoriety and its drawn out progress. While an assortment of components influence the administration and decisionmaking procedures of firms,

Tourism Definitions free essay sample

They are examined regarding beneficiary benefits and insufficiencies, and afterward any associations with the focuses raised by Leaper (1979). The travel industry Tourist Definition Identification The six definitions are underneath, with significant conversation and association with Leaper (1979) after; 1. The travel industry ought to be characterized theoretically as those parts of relaxation time conduct and their outcomes which happen because of impermanent excursions from the home condition and which are inspired solely by a worry for amusement matters. (Behaved, 1980) 2. Vacationer as somebody going for any reason with the exception of driving to and from work.. . (Chase Laymen, 1991)] 3. The travel industry seems, by all accounts, to be turning into an adequate term to uniquely portray the action of individuals removing trips from home and the Industry which has created in light of this action. [ (Hunt Laymen, 1991)] 4. The Most well known method of characterizing vacationer was by the reason for the movement, with joy or excursion being pervasive terms, albeit explicit sorts of designs were likewise expressed, for example, visiting companions and family members, shopping, going to an occasion or fascination, or other than business. We will compose a custom paper test on The travel industry Definitions or on the other hand any comparable theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Regardless of whether respondents considered a business fire related crime a vacationer is begging to be proven wrong, as some revealed they were travelers and some announced that they were definitely not. [ (Amasser, 1998)] 5. The meaning of the travel industry Includes three basic components: 1. Development of individuals between at least two spots (cause and goal) 2. Time allotment of development (impermanent) 3. Reason [ (Headman Jackson, 2003) ] 6. Vacationers are brief guests remaining more than 24 hours in the nation visited, whose Journey can be categorized as one of the accompanying classes: relaxation, entertainment, occasion, sport, wellbeing, study religion: or business, family, companions, strategic. [ (Headman Jackson, 2003)] Definition conversations and importance to Leper (1979) . This meaning of the travel industry plainly Identifies that there are Industrial Impacts, and doesn't only depend on the conduct of the traveler to characterize the travel industry. It distinguishes that traveler (the conduct divide) can impact the goal locale; it doesn't anyway address the way the Influence Is figured it out. Untouchables Tourist System forms an a lot more grounded, powerful meaning of the travel industry as It represents the impact, through the industrialization qualities. . The speculation of this meaning of a visitor implies that about any individual who enters neighborhood mall to attempt the week by week food supplies would be viewed as a vacationer under this definition. This is essentially not a worthy definition off vacationer and it would be close to difficult to depict, or make any suppositions about a visitor or the travel industry when all is said in done utilizing this definition off traveler. 3. Again this is a much summed up meaning of a tourist.It does anyway think about the modern viewpoints as talked about by Leaper (1979) and which structures some portion of his comprehensive definition f The Tourist System. Again is fills almost no need on a scholastic sense, in spite of the fact that it has more noteworthy particularity regarding whom the definition fits. It at any rate thinks about that as an individual must be away from home, however doesn't offer any generous help to different elements of the traveler. 4.This meaning of a traveler is real very practical as far as having the option to unmistakably distinguish and in this manner assemble measurements for investigation. This considers conduct viewpoints and supports the investigation of this capacity of Leaper (1979) Tourism System. 5. This definition covers he specialized meaning of the travel industry, taking into consideration the measurable perspectives as talked about by Leaper (1979). It covers the three components of the standard interior definition: separation voyaged, length and purpose.It underpins and permits an unmistakable definition for measurable purposes however has constrained pertinence to business related conversation as far as any monetary or business impacts that may result from the people undertaking the action as characterized. Also Leaper (1979) has issue with this absolutely factual way to deal with characterizing the travel industry as it doesn't consider the modern angles that outcome room the travel industry and the traveler. 6. The explicitness of this meaning of a traveler underpins just the information gathering for a specific reason.

The Major Goals of Psychology

The Major Goals of Psychology Basics Print The Major Goals of Psychology By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Reviewed by Reviewed by Amy Morin, LCSW on October 28, 2019 facebook twitter instagram Amy Morin, LCSW, is a psychotherapist, author of the bestselling book 13 Things Mentally Strong People Dont Do, and a highly sought-after speaker. Learn about our Wellness Board Amy Morin, LCSW on October 28, 2019 More in Psychology Basics Psychotherapy Student Resources History and Biographies Theories Phobias Emotions Sleep and Dreaming Psychology is the scientific study of the mind and behavior. While you might understand what psychology is, many people are not quite so sure about what psychology does. What purpose does psychology serve? What are its goals? Lets take a closer look at the major goals of psychology, what psychologists strive to accomplish, and how psychology is used to solve real-world problems. Illustration by Emily Roberts, Verywell Psychology Describes Behavior One of the first goals of psychology is simply to describe behavior. Through describing the behavior of humans and other animals, we are better able to understand it and gain a better perspective on what is considered normal and abnormal. Psychology researchers utilize a range of research methods to help describe behavior including naturalistic observation, case studies, correlational studies, surveys, and self-report inventories. Researchers might start by observing human behavior and then describing a problem. By understanding what is happening, psychologists can then work on learning more about why the behavior happens and even how to change it. For example, imagine that researchers want to learn more about consumer behavior. They might begin by observing what is already happening in a population. Market research surveys, direct observation, and other data collection methods would then be used to gather information on what people are doing when they shop. This gives researchers greater insight into what is really happening in a particular population. Psychology Explains Behavior As you might imagine, psychologists are also interested in explaining behavior in addition to merely describing it. Why do people do the things they do? What factors contribute to development, personality, social behavior, and mental health problems? Throughout psychologys history, many theories have emerged to help explain various aspects of human behavior. A few examples of such approaches including classical conditioning and attachment theories. Some theories focus on just a small aspect of human behavior (known as mini-theories) while others serve as all-encompassing theories designed to explain all of human psychology (known as grand theories). In the previous example, researchers wanted to get a better understanding of what consumers are purchasing and why. Data was previously collected on purchasing behaviors. Psychologists would then conduct research to understand why certain things are happening. They might ask questions about why people purchase certain items or what factors motivate them to make certain purchases. Psychology Predicts Behavior Not surprisingly, another primary goal of psychology is to make predictions about how we think and act. Once we understand more about what happens and why it happens, we can use that information to make predictions about when, why, and how it might happen again in the future. Successfully predicting behavior is also one of the best ways to know if we understand the underlying causes of our actions. Prediction can also allow psychologists to make guesses about human behavior without necessarily understanding the mechanisms underlying the phenomena. For example, if researchers notice that scores on a particular aptitude test can be used to predict high school dropout rates, that information can then be used to estimate how many students in a particular group might drop out of school each year. In the previous example looking at consumer behavior, psychologists would use the information they have collected to try to make predictions about what consumers will purchase next. Businesses and marketers often employ consumer psychologists to help them make such predictions so that they can create products that will appeal to buyers. How Consumer Psychologists Study Buying Behavior Psychology Changes Behavior Finally, and perhaps most importantly, psychology strives to change, influence, or control behavior to make constructive and lasting changes in peoples lives. In our previous example, researchers might take what they know about the link between scores on an aptitude test and dropout rates and use the information to develop programs designed to help students stay in school. From treating mental illness to enhancing human well-being, changing human behavior is a huge focus of psychology. Marketers and businesses often use the understanding gained from psychological research to try to influence and persuade buyers to behave in certain ways. For example, they might design advertising campaigns designed to make a message appeal to a target audience. By tailoring their messaging to specifically appeal to a certain type of buyer, those individuals are often more likely to respond. A Word From Verywell So as you have learned, the four primary goals of psychology are to describe, explain, predict, and change behavior. In many ways, these objectives are similar to the kinds of things you probably do every day as you interact with others. When dealing with a child, for example, you might ask questions like What is he doing? (describing), Why is he doing that? (explaining), What would happen if I responded in this way? (predicting), and What can I do to get him to stop doing that? (changing). Psychologists ask many of the same types of questions, but they utilize the scientific method to rigorously test and systematically understand both human and animal behavior. What Are the Steps in the Scientific Method

How to Use a French Dual Flush Toilet

What is so special about a restroom in France? If you come from Japan, French toilets are going to be a piece of cake, but for everybody else, they may pose a challenge. Now that youve mastered the delicate question and etiquette about how to politely ask for the restroom in French, lets talk about what youll face when going to the bathroom in France. Dual Flush Newer toilets in France now have two buttons for the flush: a big one and a smaller one. Alternatively, there may be two buttons that have different icons: one with one drop, another with several drops. These buttons control the water amount being flushed. These toilettes à   double chasse  are designed to save water, and they do—about 69.000 liters (18,200 gallons) per year for a family of four, according to Ecovie.com, so its quite a good move for the planet. Other Quirks Very old toilets on the contrary, such as those you might find in a countryside house, have their own character.  These fixtures would have a handle hanging directly from the water reservoir, close to the ceiling. To flush, just pull on the handle. Its quite simple, but still surprising when youve never seen anything like that! In many private homes, there is no sink in the water closet—the room with the toilet. This is just something you are going to get accustomed to if you move to France and be prepared with some antibacterial hand wipes. Some toilets in restaurants or cafà ©s are sometimes, though rarely, equipped with a rolling seat cover. If you encounter these, they are often motion activated, but there is sometimes a button you can push. Public Restrooms The public restrooms in France are infamous. Unfortunately, public restrooms in France are sometimes a little too public, as there is a cultural tendency to urinate au dehors (outside).

Similarities and Differences in Shirley Johnsons The...

The short stories â€Å"The Lottery† by Shirley Johnson and â€Å"Just lather, that’s all† by Hernando Tellez both portray similar situations even though they are two entirely different stories. The two stories both illustrate human feelings and behaviors mostly in reference to fear, violence, unfairness and pride. These two stories, even though they have some things in common, still have some differences and represent some ideas in different fashions. The similarities and differences between these stories have been critically reviewed and will be discussed in the essay. The two stories are both centered on a particular person in the story. â€Å"The Lottery† was centered round Tessie Hutchinsen who happened to be the unlucky one to have picked the†¦show more content†¦In â€Å"Just Lather, That’s All†, as well as â€Å"The Lottery† we can view unfairness from a particular person’s perspective. The violence, as well as cruelty in the two stories is seen from the way Captain Torres treated his prisoners in â€Å"Just Lather, That’s All† and also from the way the members of the community treated themselves in â€Å"The Lottery† with no sense of publicized guilt or conscience. Captain Torres was a murderer who did not care about the way he brutally killed his prisoners. Even from the barber’s conversation with him, the man shows no form of sympathy for those he killed but only expresses a sort of thirst for killing more people. The people of the community in ‘The lottery’ also participate in the tradition of stoning to death innocent members of the village with no apparent grief or remorse all in the name of it being a traditional practice. The two stories reveal violence in a raw and barbaric manner. Furthermore, the systems of government in the two stories differ. As we see in â€Å"Just Lather, That’s All† the system of government can be seen to have been a dictatorship because Captain Torres had total power over the affairs of the whole community and no one could question his authority. He killed people as he pleased just for his pleasure and nobody could complain or fight against his action. However, we see in â€Å"The Lottery† that they went by a democratic government system. Every member of the community was a part of the decision to keep the tradition

Collapse of the Housing Market. Free Essays

Collapse of the Housing Market. The purpose of self-governing is to make government work better by allowing people to help govern themselves. And the people do that by electing Representative to talk for them, to protect life, liberty and personal properties. We will write a custom essay sample on Collapse of the Housing Market. or any similar topic only for you Order Now â€Å"The absolute rights of individuals may be resolved into the right of personal security, the right of personal liberty, and the right to acquire and enjoy property†¦ and that consists in being protected and governed by laws made, or assented to, by the representatives of the people, and conducive to the general welfare† (James Kent, Commentaries on American Law, Lecture XXIV). Yes I believe that the congress lived up to protect life, liberty and personal properties, because they used â€Å"†¦Federal financial supervisory agency to use its authority when examining financial institutions, to encourage such institutions to help meet the credit needs of the local communities in which they are chartered consistent with the safe and sound operation of such institutions†¦Ã¢â‚¬  (Community Reinvestment Act, October 12, 1977) They did this so everyone could get a house. They also wanted to get more people into house so the economy could move. Because of that the demand for houses increased and so did the prices and most people were not able to afford and could not get a loan form the bank. Because of that the government â€Å"†¦in 1995 gave the CRA serious teeth: regulators could now deny a bank with a low CRA rating approval to merge with another bank—at a time when the arrival of interstate banking made such approvals especially valuable—or even to open new branches. Complaints from community organizations would now count against a bank’s CRA rating. † (Lawrence H. White, â€Å"How Did We Get into This Financial Mess? † Cato Institute, November 18, 2008). HUD also â€Å"actively pushed Fannie Mae and Freddie Mac into backing the enormous expansion of the nonprime mortgage market†¦. To fund their enormous growth, Fannie Mae and Freddie Mac had to borrow huge sums in wholesale financial markets. Institutional investors were willing to lend to the government-sponsored mortgage companies cheaply †¦ because they thought that the Treasury would repay them should Fannie or Freddie be unable. † (Lawrence H. White, â€Å"How Did We Get into This Financial Mess? ,† Cato Institute, November 18, 2008). Congress tried to help the people by putting out more funds like The American Dream Down payment Initiative (ADDI). ADDI helped first time house buyers by paying their down payment or the closing cost. This helps more people to buy a house. â€Å"The American Dream Downpayment Assistance Act authorized up to $200 million annually. Funds were appropriated for fiscal years 2004-2008†¦. ADDI helped first-time homebuyers with the biggest hurdle to homeownership: downpayment and closing costs† The original purpose of the president was to carry out any decisions that congress made, but the president was not independent of Congress. Congress still remained completely in charge of how their decisions were carried out. The president is part of the executive who was to look up to congress so there is not a person making all the decision. All the powers of government, legislative, executive, and judiciary, result to the legislative body [in the Virginia Constitution of 1776]. The concentrating these in the same hands is precisely the definition of despotic government. It will be no alleviation that these powers will be exercised by a plurality of hands, and not by a single one. 73 despots would surely be as oppressive as one. † (Thomas Jefferson, Notes on the State of Virginia, Query 13, 1784). But when it came to the housing market the president/ executive department and agencies did not live up to their purpose in their actions in the area of housing. For example â€Å"President Bill Clinton’s HUD agreed to let Fannie and Freddie get affordable-housing credit for buying subprime securities that inclu ded loans to low-income borrowers. The idea was that subprime lending benefited many borrowers who did not qualify for conventional loans. † (Carol D. Leonnig, â€Å"How HUD Mortgage Policy Fed the Crisis,† Washington Post, June 10, 2008). In 1999 the Clinton administration viewed Fannie Mae as a hazard trying to prevent the housing bubble and collapse. â€Å"Treasury Secretary Lawrence Summers issued a warning, saying, â€Å"Debates about systemic risk should also now include government-sponsored enterprises, which are large and growing rapidly. ’ It was a signal moment. An administration official had said in public that Fannie Mae and Freddie Mac could be a hazard† (â€Å"How Washington Failed to Rein in Fannie, Freddie,† Washington Post, September 4, 2008). The Clinton administration really didn’t like Fannie because they tried to â€Å"discouraged Fannie and Freddie from buying predatory subprime loans. Department of Housing and Urban Development called for Congress to enact legislation to â€Å"prohibit the purchase by each of these entities of predatory loans. † Fannie Mae was designed to help people. The sole purpose of them were to get banks to sell loans to people that would not always be able to get loans and then Fannie and Freddie would buy those loans form the bank giving back the money back to banks. The U. S. government had created Fannie Mae in 1938 to buy mortgages from banks that loaned money to homebuyers†¦. It was a Depression-era creation designed to ease financing costs for borrowers still recovering from the economic devastation of the 1930s† (Gretchen Morgenson, Reckless Endangerment, 13). To bring compotation and have verity the government created Freddie Mac so more loans could be bought and more people would invest. â€Å"†¦from an agency of the government into a partially private entity that issued common stock to public investors†¦. The president’s idea was to get the company’s liabilities off the government’s balance sheet† (Gretchen Morgenson, Reckless Endangerment, 13). To get Fannie and Freddie get going on it own, they would sell stock where people would be able to by one of loans that Fannie and Freddie would buy form the banks, but the good thing was if the person was not able to pay back to Fannie and Freddie, the person who bought the loan would get paid back form the government. That got more people to invest in Fannie and Freddie. To fund their enormous growth, Fannie Mae and Freddie Mac had to borrow huge sums in wholesale financial markets. Institutional investors were willing to lend to the government-sponsored mortgage companies cheaply †¦ because they thought that the Treasury would repay them should Fannie or Freddie be unable. † (Lawrence H. White, â€Å"How Did We Get into This Financial Mess? ,† Cato Institute, November 18, 2008). Around 1999 Fanni e and Freddie became so big that the government was losing more money then making money. The treasury did not like that they had to pay back to the people who invested in Fannie and Freddie. They went in public saying that they are â€Å"hazard†. â€Å"In the fall of 1999, Treasury Secretary Lawrence Summers issued a warning, saying, â€Å"Debates about systemic risk should also now include government-sponsored enterprises, which are large and growing rapidly. ’ It was a signal moment. An administration official had said in public that Fannie Mae and Freddie Mac could be a hazard† (â€Å"How Washington Failed to Rein in Fannie, Freddie,† Washington Post, September 4, 2008). After this one could see how strong Fannie and Freddie has become and more people decided to investigate but were never able to bring it up and who did were sued and lost a lot. â€Å"Gensler and other Treasury officials feared the companies had grown so large that, if they stumbled, the damage to the U. S. economy could be staggering. Few officials had ever publicly criticized Fannie Mae and Freddie Mac, but Gensler concluded it was time to urge Congress to rein them in†¦. The bill failed† (â€Å"How Washington Failed to Rein in Fannie, Freddie,† Washington Post, September 4, 2008). When the economy downturn in 2001 due to lots of mortgages not paid and more foreclosed houses, the Federal reserve tried to bring it up by expanding the U. S. money supply the goal was to bring up the economy by putting money into the economy and people start spending. â€Å"In the recession of 2001, the Federal Reserve System, under Chairman Alan Greenspan, began aggressively expanding the U. S. money supply†¦. The expansion was accompanied by the Fed repeatedly lowering its target rate for the federal funds (interbank short-term) interest rate. The federal funds rate began 2001 at 6. 25 percent and ended the year at 1. 75 percent. † † (Lawrence White, â€Å"How Did We Get into This Financial Mess? ,† Cato Institute, November 18, 2008). But this did not help, low interest rates affect the behavior of investors. They stopped buying bonds and The Federal Reserve Board’s decision to slash interest rates to propel the economy was hurting investors who lived on the income generated by their holdings. In 2001, mortgage lenders †¦ understood that the low interest-rate environment was driving investors to securities that yielded more than Treasury bonds and other relatively conservative fixed-income instruments. † Due to less people-buying bond, the federal reserve made the interest rate low but they had to raise the house price to balance it. That way people sa w this as in opportunity to buy a house with low interest rate. Example form 26D. In 2005 federal reserve desperately made the discount form 4. to 6. 5 to help get the house market rolling again. â€Å"In August [2005], the Federal Reserve Board increased its discount rate to 4. 5 percent, up from 2 percent the summer before. The Fed was finally trying to tap on the brakes of a runway real estate market† (Gretchen Morgenson, Reckless Endangerment, 286) What the feds tried to fix by getting more blacks to buy because of people getting on them form being racist kicked them in the butt when more than half had there house foreclosed. In October 1992, â€Å"Mortgage Lending in Boston: Interpreting HMDA Data† was published by the Boston Fed. Its authors were [Alicia H. ] Munnell, Lynn E. Brown, and Geoffrey M. B. Tootell†¦. Racial bias by mortgage lenders, Munnell and her colleagues wrote, not only existed it was pervasive. The HMDA data showed that black and Hispanic l oan applicants were far more likely to be rejected by banks than were whites. The rejection ratio for minorities was 2. 8 to 1 compared with white applicants†¦. There was only problem. The methods used by the Boston Fed researchers to prepare their report were flawed†¦. The analysis did not consider whether an applicant met a lender’s credit guidelines† I was happy that congress wanted to help anyone who wanted a house, there intensions were good by creating Fannie and Freddie but when people figured out that they can buy loans form Fannie and Freddie will be payed back when they know the owner of that mortgage will never be able to pay back. More community lost there value due to this. How to cite Collapse of the Housing Market., Papers

Sexism in the Workplace free essay sample

But the street is not just one way; sexism is an equal-opportunity discriminator. In today’s culture in the United States, women are still fighting for equality in the workplace. Today women are more successful than in the past. But, according to Ph. D. Heather Haveman, a professor at U. C. Berkeley, the gap between women that hold upper management positions compared to men that hold upper management positions is a cultural issue. She also states: â€Å"If the root cause of the vertical gender gap in management is culture, then corporate or public policies that seek to reduce this gap must focus on culture. In general, to change culture, you have to change peoples hearts and minds. Therefore, culture is arguably the hardest thing to change through policy (Beresford). † She also talks about how people are unwilling to pay for something if they are not going to benefit from it. The current status will continue to perpetuate, and expand, upon itself continuing to hold women back while men succeed. We will write a custom essay sample on Sexism in the Workplace or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The Equal Rights Amendment, ERA, was introduced into every session of Congress between 1923 and 1972, when it was passed and sent to the states for ratification. The seven-year time limit in the ERAs proposing clause was extended by Congress to June 30, 1982, but at the deadline, the ERA had been ratified by 35 states, leaving it three states short of the 38 required for ratification. It has been reintroduced into every Congress since that time. In the 110th Congress (2007 2008), the Equal Rights Amendment has been introduced as S. J. Res. 10 (Sen. Edward Kennedy, MA, lead sponsor) and H. J. Res. 40 (Rep. Carolyn Maloney, NY, lead sponsor) (Francis). Yet, this article still stands as that: an article, and to date has not gotten through Congress. But it is once again been introduced, this time by Senator Robert Menendez (Gray). If our leaders, and laws, do not recognize women as equals then how can corporate America be expected to view men and women as equals. Women are often overlooked when benefits are awarded. In talking with Mary Jane Riva, current CEO (Chief Executive Officer) of the Pizza Factory Franchise, the females that work for her in the office as secrataries and department heads are overlooked when the suppliers have tickets to professional sporting events or concerts. These tickets are given to companies that are in good standing with the suppliers and are an added benefit. But not when only half of the company is allowed to utilize them. MJ went on to further explain that her male department heads and male sales representatives were keeping these tickets for themselves and not sharing in these benefits with the female employees. When she found out about what was going on with her company, she gathered all of the women working in the corporate office and took them to the San Fransisco 49ers game. She has also implimented new procedures to ensure that the ‘good old boy network’ can no longer manipulate their suppliers and isolate the tickets away from the women that they work with (Riva). While this is a small company, they currently boast less than 200 franchised stores located mainly on the west coast, it is one step in the right direction; placing men and women on a level playing field where they are both equal. Now, men favoring and promoting men can not be all bad, can it? Men are supposed to be the money makers. They assume power and are accustom to being in charge. Does this stereotype mean that only a man can be in charge? Or more precisely a woman can not be in charge? Why does it matter who is in charge? Heavy is the head that wears the crown. It isn’t written heavy is the man’s head or heavy is the woman’s head. It is simply heavy is the head. Yes, being in charge does provide a sense of respect. But mostly it places that person’s head on the line if there is a problem. Being in charge, being responsible for successes and failures does not fall to men, or women. Responsibility for success, or failure, should fall to the most qualified person for the job. Qualifications are the only basis that should be looked at when hiring or promoting, the only reason that a person’s sex should be concidered is for public bathroom utilization. Tracking of female CEOs according to Fortune magazine’s top 500 companies and their top 1000 companies is done by many different websites. Catalyst. org is one such site and states that in 2012 women held the CEO position in twenty-one of Fortune 500 companies, and an additional twenty-one of Fortune 1000 companies. The list includes such notable companies like Hewlett-Packard, International Business Machines (IBM) and PepsiCo. These numbers are up from the 2006 list that had ten women listed as Fortune 500 CEOs and an additional ten in the Fortune 1000 list. Put in a different way, the numbers have doubled in the last six years, doubled to 4%. For females to be taken seriously as CEOs more Fortune 500 and 1000 companies need to lead the way and promote, deserving, females to their companies highest post. Works Cited Francis, Roberta W. Equal Rights Amendment. 2013. 24 April 2013 . Haveman, Heather A. and Beresford, Lauren S. If Youre so Smart, Why Arent You the Boss? Explaining the Persistent Vertical Gender Gap in Management. The Annals of the American Academy of Political and Social Science 639 . 114 (2012): 114-130. Gray, Kaili Joy. Daily KOS. 7 March 2013. 24 April 2013 . Merriam-Webster . 2013. 24 April 2013 . Oakley, Judith G. Gender-based Barriers to Senior Management Positions: Understanding the Scarcity of Female CEOs. Journal of Business Ethics (2000): 321-334.