Global Financial Crisis Essay - 550 Words

Global Financial Crisis (Essay Sample) Content: Global Financial Crisis (subprime crisis)Students NameInstitution IntroductionGlobal financial crisis was a period of wide spread economic catastrophe, which impeded financial and capital among other markets across the world. The crisis started in 2007 where it began with the breakdown of the United States financial system and extended spontaneously to other nations across the World. The instant cause of the global financial crisis began when the prices of basic commodities such as fuel, food, and fertilizers started to rise. This paper is systematic analysis-covering questions 6 and 9, which deals with issues associated with the 2007 global financial crisis.Question 6Lehman Brothers bankruptcyWith the short-run widespread of the global financial crisis, where prices of basic commodities began to skyrocket housing prices declined. This is because financial institutions gave loans to commercial property developers at low interest rates. Coupled with the low interest ra tes many loans were approved to investors and in the long run construction of real estates increased leading to a higher supply than the demand for houses. Consequently, prices for houses declined and this dampened the housing market and investors were unable to pay the loans. In connection to this, Lehman Brothers had acquired several mortgage subprime lenders such as BNC Mortgage and Aurora loan Services which specialized on Alt-A lending criteria. Initially, the Lehman Brothers acquisition seemed profitable and the revenues from the sale of real estate made Lehmans capital market portfolio to grow. However, as the 2007 financial crisis began to experience cracks, loan defaulters increased and Lehman Brothers experienced financial turmoil that led to bankruptcy as Alt A criteria did not provide enough documentation thereby making it difficult for the bank to follow up its debtors. In addition, Lehman Brothers bankruptcy occurred due to their hedging strategies that backfired. Repo ts reveal that Lehman Brothers had intended to raise $ 6 billion in capital where two thirds was expected to come from sale of common shares at a predetermined price of about $ 28 per share (Ellis, 2009). However, the New York Investment bank incurred a loss of $2.8 that led to its bankruptcy.Question 9Primary reason for AIG needing a bailoutDuring the global financial crisis, AIGs role was to provide insurance services to investors who bought multifaceted debt securities. AIG main aim was to cover losses suffered by the buyers of insurance contracts in case of defaults. The major reason for the American International Group (AIG) needing a bail out was overconfidence and risk measures such as credit risk that were executed to meet unrealistic expectations. This made the Insurance Company to sell insurance policies to investors and assured them of treatment to their losses to an extent, which is not required by insurance policies. With this, AIG lacked internal understanding of corpo rate decision-making. When investors defaulted due to the housing price crisis, AIG was caught in a hook of billions of dollars worth of risky securities that were initially considered safe. After the government realized the weakness displayed by insurance companies such as AIG, and Freddie Mac among others, there was a need to intervene to bail out and nationalize...

A Secret Weapon for Essay Topic Sample

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Using the Best Toefl Essay Samples

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William Shakespeare s King Lear - 946 Words

In the beginning of Shakespeare’s play â€Å"King Lear,† the Duke of Albany is very gray. If the reader were to look up the definition of â€Å"sitting on the fence† in the dictionary, there would be a picture of Albany next to it. Although the character Albany begins the play as a complacent character, his character matures greatly throughout the play. By the end of the play, he is one of the only characters left alive and he becomes king of England. Shakespeare’s character Albany in â€Å"King Lear† shows questionable character traits in the beginning; but in the end, he shows his worthiness to rule the kingdom. One of the more questionable character traits Albany shows in the beginning would be submissiveness. With no effort to show any leadership, Albany has a total of nine lines through the first three acts of the play. Why does he have so little? Many people would argue that his lack of dialogue is because of his mild tempered attitude, but he does not say anything because he is â€Å"blind†Ã¢â‚¬â€meaning he does not see and understand what is happening around him. This trait of submissiveness in Albany is further emphasized by the fact that three scenes out of the first act happen at his castle and he does not even speak except for a couple lines. And even when he does speak, his speech is simple one-liners such as, â€Å"Now, gods that we adore, wherof comes this?† or â€Å"What’s the matter, sir?† Albany does not understand the gravity of the situations going on around him. He just does what he isShow MoreRelatedWilliam Shakespeare s King Lear1550 Words   |  7 PagesINTRODUCTION: By facilitating the growth of evil within William Shakespeare’s King Lear, it is evident that the tragedy’s protagonist, King Lear can be held accountable for his own victimization and ultimate downfall. The most notable aspects of this self-induced victimization include Lear’s own lack of practical wisdom and divergence from the natural order, combined with the neglect of kingship, that enables Lear as a tragic hero to create the conceptual framework in which the ulterior motives ofRead MoreWilliam Shakespeare s King Lear1564 Words   |  7 PagesWilliam Shakespeare is universally known for his literary output both in poetry and drama. Whether through his laugh-invoking comedies or his heart-wrenching tragedies, Shakespeare’s plays have changed the course of literature. Many of his plays about love are widely praised by all, but Shakespeare s King Lear differs from the rest due to its definition of love. King Lear serves as an battleground between decept ion and compassion, between flattery and honesty. Rather than focusing on romantic loveRead MoreWilliam Shakespeare s King Lear3086 Words   |  13 PagesJerion Young Ms. Woods English IV 4 March 2015 King Lear William Shakespeare uses several literary elements in his writing, elements which are especially apparent in his play, King Lear. Shakespeare uses excellent creativity and description when writing this tragedy. â€Å"Neither has Shakespeare placed in the mouth of any other character in this play such fatalistic expressions as may be found in King Lear and occasionally elsewhere†(A.C. 2003). The way King Lear talks in this play is very evil compared toRead MoreWilliam Shakespeare s King Lear1611 Words   |  7 Pagesexperience life-changing events that jeopardize our sense of identity and make us question how we value ourselves. Our perception of our worth can change with what we learn through our existence, much like the characters in the play King Lear by William Shakespeare. 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Lebar EN4UN-04 13 July 2015 King Lear Blindness by definition, according to dictionaries, is â€Å"unable to see and lacking the sense of sight† by which King Lear, the classic tragic play written by William Shakespeare, illustrated the concept of blindness amongst his characters as the leading theme. King Lear and Gloucester were the characters that have been conflicted by this â€Å"blindness† that may or may not change their personalities in the very end of the play. Gloucester becomesRead MoreWilliam Shakespeare s King Lear1546 Words   |  7 PagesTwo Sides to Every Person There are two sides to every story; that of the protagonist and that of the antagonist. As shown in the Shakespearean play King Lear, there is very little difference between the two. Edmund, who appears to be a villain, is more than meets the eye. His evil is a rebellion against the social order that denies him legitimacy. His villainy does not come from innate cruelty but from misdirected desire for familial love. 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Shakespeare’s play ‘King Lear’, depicts the main protagonist’s ‘gradual descent into madness’ as a result of the forces of evil acting in the play for Lear has, to an extent, have sinned though it can’t outweigh that he has been sinned against. This is confirmed through Lear’s injudiciousness to see through his two eldest daughter’s internalRead MoreWilliam Shakespeare s King Lear 1306 Words   |  6 Pagesâ€Å"All...shall taste the wages of their virtue...the cup of their deservings. (5.3.317-320)† King Lear is frequently regarded as one of Shakespeare’s masterpieces, and its tragic scope touches almost all facets of the human condition: from the familial tensions between parents and children to the immoral desires of power, from the follies of pride to the false projections of glory. However, one theme rings true throughout the play, and that very theme is boundless suffering, accentuated by the gruesome

Album The Devil and God Are Raging Inside Me Essay Example For Students

Album The Devil and God Are Raging Inside Me Essay The Devil And God Are Raging Inside Me is the third studio album by the American alternative rock band Brand New. It was released on November 20, 2006, through Interscope Records. The album’s name came from a conversation that Jesse Lacey, the lead singer of Brand New, had with a friend regarding the musician Daniel Johnston, who suffers from schizophrenia and bipolar disorder. The album cover was discovered by the band at Nicholas Prior’s â€Å"Age of Man† art show. The photograph is titled â€Å"Untitled #44. Brand New consists of Jesse Lacey (lead vocals, rhythm guitar), Vincent Accardi (lead guitar, backing vocals), Brian Lane (drums), Garrett Tierney (bass guitar, backing vocals), and Derrick Sherman (keyboards, guitars, backing vocals). The band’s influences range from pop and classic rock bands such as The Beach Boys, Squeeze, and The Cars; to more contemporary acts such as Weezer, Foo Fighters, and Radiohead. Frontman Jesse Lacey is also known for his fondness of The Smiths and Morrissey. Though Brand New cannot be put into any one genre, they are most often described as alternative rock, indie, and emo. Brand New has evolved their sound since their first album, Your Favorite Weapon. Their sound went from teenage-angst with a slight twist of maturity, to extremely mature and dark, to unrefined and deep. The Devil And God Are Raging Inside Me (The Devil And God) was a different approach to music than Brand New had taken with either of their previous two albums. Instead of recording a normal album, they used their album to bridge the gap between personal grief and public entertainment. Although its often attempted, its rare to see such a personal album be so well received by a mass audience. The majority of Brand New fans agree that this album is lyrically the best even if they do not consider it their favorite. The Devil And God seems like and excuse for Jesse Lacey to channel his inner demons, rather than to produce an album just to make the fans happy. The Devil And God includes a new level of passion and aggression that would be almost impossible to duplicate because of how personal it is. The emotion in The Devil And God Are Raging Inside Me is tangible from the very start. In the first track, â€Å"Sowing Season,† Lacey is heard despairing over the loss of his friends. What starts out as a calm, soothing rhythm turns into an explosion of guitars and aggressive drumming. The instruments help to create the feelings of loss and helplessness that Lacey is trying to convey through his lyrics. â€Å"Millstone,† while still demonstrating the sound of this album, will appeal to older fans with its classic ear-catching chorus. This song contains a reference to Matthew 18:6 (â€Å"A milestone around my neck Be my breath, theres nothing I wouldnt give†), continuing the theme of religion which is obviously hinted at in the name of the album. In â€Å"Jesus Christ,† which is the biggest look into the mind of Jesse Lacey, we hear him question death and his faith. â€Å"Degausser† is probably my favorite song of the whole album just because of its sound and the overall meaning. It is the only song on the The Devil And God that more than two band members had a hand in writing. A â€Å"degaussing tool† is used to de-magnetize a tape-head in order to avoid problems of background noise in analog recording devices. In the song, it is used as a metaphor for de-magnetization of a relationship. Limousine (MS Redbridge)† is probably the most interesting and gruesome song of the The Devil And God. It tells the true story of the death of 7-year-old Katie Flynn. Each verse of the song is from a different perspective. The first verse is from Katie’s mother’s perspective. She refers to Martin Heidgen, the drunk driver responsible for Katie’s death, as the man who has â€Å"volunteered with grace† to end Katie’s life. The second verse was written from the guilt-ridden perspective of Heidgen (â€Å"Can I get myself out from underneath this guilt that will crush me†). .u696809e806eb10d11105d1b69d216f3b , .u696809e806eb10d11105d1b69d216f3b .postImageUrl , .u696809e806eb10d11105d1b69d216f3b .centered-text-area { min-height: 80px; position: relative; } .u696809e806eb10d11105d1b69d216f3b , .u696809e806eb10d11105d1b69d216f3b:hover , .u696809e806eb10d11105d1b69d216f3b:visited , .u696809e806eb10d11105d1b69d216f3b:active { border:0!important; } .u696809e806eb10d11105d1b69d216f3b .clearfix:after { content: ""; display: table; clear: both; } .u696809e806eb10d11105d1b69d216f3b { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u696809e806eb10d11105d1b69d216f3b:active , .u696809e806eb10d11105d1b69d216f3b:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u696809e806eb10d11105d1b69d216f3b .centered-text-area { width: 100%; position: relative ; } .u696809e806eb10d11105d1b69d216f3b .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u696809e806eb10d11105d1b69d216f3b .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u696809e806eb10d11105d1b69d216f3b .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u696809e806eb10d11105d1b69d216f3b:hover .ctaButton { background-color: #34495E!important; } .u696809e806eb10d11105d1b69d216f3b .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u696809e806eb10d11105d1b69d216f3b .u696809e806eb10d11105d1b69d216f3b-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u696809e806eb10d11105d1b69d216f3b:after { content: ""; display: block; clear: both; } READ: Stress: Meditation and Music EssayTowards the end of the song, is Katie’s perspective, which Lacey portrays as trying to be thankful that she will not ever have to deal with the loss of anyone that she loves (â€Å"Well never have to buy adjacent plots of earth Well never have to rot together under the dirt Ill never have to lose my baby in the crowd Well I should be laughing right now†). The lyrical meaning in this track is easily the most powerful of all the songs. â€Å"You Won’t Know† has been interpreted in many different ways. Some say that it is a continuation of Heidgen’s perspective; others say it is about an abortion or a past r elationship of Lacey’s. All of those interpretations make sense, though I believe it was a continuation of Hiedgen’s perspective. â€Å"Welcome to Bangkok† and â€Å"Untitled† are the two purely instrumental songs on The Devil And God. They act as transition pieces and help you be able to really think about what you have heard. â€Å"Not the Sun† is supposedly about a man proposing to a woman. She says â€Å"no† because and tells the man repeatedly that he is â€Å"not the sun,† which hints at the fact that he thinks that world revolves around him (the sun). Luca† is a reference to Luca Brasi from the novel The Godfather, who is drowned with a pair of cement boots to ensure that he’ll sink and never float up and be discovered (â€Å"So weve fixed you with cement galoshes And no one can save you now†). â€Å"The Archer’s Bows have Broken† is the only constantly fast-paced track on The Devil And God. It is the adrenaline rush that you needed at this point. The transition from â€Å"The Archer’s Bows have Broken† to the last and slowest song of the album, â€Å"Handcuffs,† is a surprisingly easy transition. Handcuffs† is honest and does its job of summing up The Devil And God beautifully because of its theme of trying to be â€Å"the better man†, and having the realization of how hard it is to be one. The Devil And God Are Raging Inside Me ’s meaning gets deeper with each listen, and I am taken into a dark but incredibly moving place. This album will forever be one of my favorite albums of all time simply because it has the same profound effect on me, if not more, since the very first time I heard it. I could listen to it a thousand times and the meaning would never be lost.