Mortgage Crisis Essay Example | Topics and Well Written Essays - 500 words

Mortgage Crisis - Essay Example Subprime borrowers, with low rates of 7% to 8%, will see rates reset at numbers like 11%. Prime borrowers are seeing rates jump to 20% and more causing them to come near to defaulting on their loans. This increase in rates will create a domino effect altering most of the financial markets. The mortgage crisis is simply one side of the coin. With the failing economy mortgage lenders and banks are finding it hard to find the cash to support the foreclosures. With the low house demand and the growing defaults companies like American Home Mortgage Investment Corp. and Delta Financial Corp., filed for Chapter 11 bankruptcy protection. Bigger banks are suffering losses as they write down their losses with even a company like Merrill Lynch posting its largest loss in 94-years. With the drop in employment rates and the economy in one of its worst positions for more than a decade a recession seems to be on the way. How bad the crisis will be and how it will alter the consumers lifestyle is what has to be determined as the mortgage crisis takes the country by storm. Being a mortgage collector I have the opportunity to review some of the ARM's, interest only and flexible payment/negative amortization loans. I have found that they are all positioned as tools to help the borrower afford the house for a moment.

Derrick Jones, Former Albion Prison Inmate, Wins $312,000 Jury Verdict Article

Derrick Jones, Former Albion Prison Inmate, Wins $312,000 Jury Verdict for Negligent Medical Care - Article Example The doctors gave him narcotics and crutches. The next day he fell from stairs, but was not given an MRI. The second case study is that of Dennis Austin, who was convicted of rape, and died of bed sores. The article’s information and the case studies raise awareness for health care organizations. The message is for the health care communities, to raise their efficiency of health care provision and quality of care. Hospitals and health care agencies must comply with the code of ethics, so that no individual remains deprived of proper and timely health care. There is need for steps taken by health care organizations to provide timely and quality health care to citizens. The Affordable Care Act is one such law that ensures affordable and high quality health care provision. This legislation was passed by Congress, and the President signed it into law on March 23, 2010. The article made me feel sorry for the health standards provided in state prison. I feel that the prisoners must be provided proper health care, since negligence regarding provision of health care is not part of their penalties. It is their right. Lohr, D. (2012). Derrick Jones, Former Albion Prison Inmate, Wins $312,000 Jury Verdict For Negligent Medical Care. Huffpost Crime. Retrieved May 6, 2013, from

Effects of Globalization on Accounting Concepts

Effects of Globalization on Accounting Concepts Haiyan Lin Increasing global business competitiveness. Globalization results in more opportunity and threats, as well as more competition and customers for many countries and organisations. Business need to improve their competitiveness. To realize product differentiation and cost controlling or provide better products or services to customers, deliver responsiveness are most of firms goal. To realize business competitiveness goal led organisation to take new management accounting systems and techniques such as Activity-based cost systems and Activity-based budgeting systems. Activity-based cost system is more accurate to calculate the cost of goods, services, customers and other activity within organisation and also shareholder values, as well as business budgeting. Activity-based budgeting is also more accurate technique to forecast firms future costs and better benchmark to compare actual costs. (Langfiled-Smith, 2012) Raising global mobility of labour Globalization is also raising mobility of labour all over the world. Organisations especially as IT companies have more shortage in IT talent. So they are more possible to recruit employee from other countries. The famous case in New Zealand is Wellingtons BRING IT A WOLRD OF TECH TALENT TO WELLINGTON plan. Government support Wellingtons organisation to recruit world high tech talents which pay 100 candidates flight tickets and accommodation when candidates come to interview with their potential employers in Wellington. Increasing pressures for accountability, involving ethical and governance issues. Management accounting use techniques such as inventory management and time management to realize accountability. The inventory management is effective method to reduce supplier costs, manufacturing costs and production costs. Just-in-time philosophy is important inventory methods using in manufacturing, Toyota is famous example. Profession ethical codes need to be applied to accountant. As management accountants, they have obligation to themselves, their colleagues and their organisation to follow high standards of ethical codes. Increasing awareness of sustainability issues, especially climate change. Environment became worse when economic is developing fast. The most serious environment issue is global warming. So for sustainable global developing, many businesses try to use environment friendly materials or reducing CO2 emission and use of some other scarce resource such as water. Example: both Australia and New Zealand reduce or reduce greenhouse gas emission no more than 1990 levels. (Langfiled-Smith, 2012) Conclusion: Business environment will change continuality in the future, management accounting should be adjust, improve and develop new techniques, structure and systems all the time. Uses of information Management accounting: the users are internal users such as managers and employees at all levels. Managers need management accounting information to make strategies and decisions. Financial accounting: the users are external such as shareholders, creditors, bank, stock exchange, and government agencies. Banks use financial statements to decide whether to lend loan to the business; potential shareholders use financial statements to consider whether to invest in the business. Regulations Management accounting: there are no external rules or accounting standard. Managers generate information for the purpose of their management. Financial accounting: there are accounting standards and corporation laws to regulate the content of external financial reports such IFRS. Source of data Management accounting: the sources are come from both external and internal, as well as financial and non-financial data. The internal data is from physical and operational data from production systems. External data is from market, customer and economic database. Financial accounting: data almost from internal- organisations core transaction-based accounting system. Nature of the information Management accounting: subjective; relevant; timely; past, current and future-oriented; supplied for all level to satisfy managers needs. Financial accounting: not timely; not always relevant; past; reliable; highly aggregated. (Langfiled-Smith, 2012) Issues of privacy and ownership in the personal information industry. How to protect employees or customers privacy is important issue for the business. Business need to consider whether or not to reveal employees or customers information to the unrelated parties. For example: bank send their customers information to policies as policies requested but there was no permitted from their customer. The result was bank was sued by their customer. Issues of computer security refer to accuracy and confidentiality. Computer security systems are aim to prevent fraud and other unauthorised users to access the protected confidential database. However, the higher security system still can lead to other problems such as used to spy on legitimate users. For example: the secure computer system for Unitec, all students and staffs have their own account name and password to access to online Portal. It is more convenient for their work and study. Online Portal has their personal information such phone number, home address and passport copy. That is why portal need to separate student and staff login to protect student personal information from unauthorised person. The ownership of property. What can organization or individual own? Laws are designed to protect rights of ownership for properties, such as software. The question is whether individual and organisation should be restricted for using or access to this Intellectual property. For example: copyright laws protect those people who developed software from being copied. However, there is question whether copyright right or wrong, because many people believe there is more harm than good to have copyright laws. The problem is whether need to pay if to see or touch softcopy. The purpose of copyright laws is to encourage developing new software or arts, but in fact copyright may have opposite impact. Issues of equity access involving culture, economic status and safety. Example: if documents are prepared in one language and poor translated. Individual and organisation need to acquire technology equipment based on their economic ability. And the access of equity also need to consider safety of pregnant women or the minors. Environmental issues. It is easy to print because of computer and printer, however, print large amount of paper will result in disappear of tre Strategies: Sarbanes-Oxley Act (SOX) and Section 406 require company to have ethical code applied to CEO, CFO and controller. Section 406 require ethical codes: The process to deal with conflict of interests. To provide full, fair, accurate, understandable and timely disclosure in documents and financial reports. Legal compliance: require employees to follow governments laws, rules and regulations. Organisations mechanism to report permit prompt ethical violations. Accountability: the ethic procedure should effectively take action when ethic violation appear. 1) Strategic planning Strategic planning is long term planning usually for three to five years, wide range and made by senior manager. Strategic planning is including corporate and business strategy decisions corporate strategy decisions are about the types of businesses or markets. Business strategy decisions are about how the businesses to realize their particular market. (Langfiled-Smith, 2012) 2) Operational planning Operational planning is short term planning, more details and narrow range than strategic planning and made by under senior managers. The main purpose for operational planning is to set detail process to complete their vision. 3) Linkage between strategic and operational planning Operational planning is process to make strategic planning come true. Every goal on operational planning should link one or more strategic planning, otherwise, there is no meaning of operational planning, and company will waste their time and resources. For example, if a manufacturing want to set second factory, their employees will spend more time in what it is not priority for their second factory if there is no strategic planning. References A. Hall, J. (2016). Accounting Information Systems. Bostan, MA, USA: Cengage Learning. Langfiled-Smith, K. (2012). Management Accounting: information for creating and managing value. Sydney, NSW 2113, Australia: Rosemary Noble. McDonnell, S. (n.d.). links between strategic and operational plans. Retrieved from Azcentral: http://yourbusiness.azcentral.com/links-between-strategic-operational-plans-25572.html

Comparing Grendel and Oedipus Rex :: Comparison Compare Contrast Essays

Parallels between Grendel and Oedipus Rex      Ã‚  Ã‚  Ã‚   A messenger hurriedly arrives at a palace to tell king Oedipus, that his father, Polybus, the king of another town, has died at an old age of natural causes. The message's receptor and his queen, therefore, assume that Oedipus has escaped his fate as told by the oracle at Delphi that he should murder his father and marry his mother. There is reprieve of worry until it is revealed that the man who died was merely Oedipus' adoptive father and that Oedipus had indeed once killed his father and was married to his mother. Oedipus was not the king of his fate.    "'Pointless accident,' not pattern, governs the world, says Grendel, who, as a consequence, adopts an existentialistic stance," explains Frank Magill in Critical Review of Short Fiction. This point has been expressed in numerous critical papers by various essayists. One may wonder, however, whether this is the only way to interpret an incredibly ambiguous story in which no question is ever clearly answered nor clearly formulated. One may wonder, actually, whether the author meant for his work to be analyzed in this way at all. The author, John Gardner, spins a tale of a monster held viscously to his destiny of an unnatural death. No matter what Grendel does, his death is predetermined. Though he tries to disprove fate to himself by believing in existentialism, the belief that actions create the future, he never validates that point of view. John Gardner's purpose in writing Grendel was to express that the future is completely unavoidable.    Grendel may be paralleled to Sophocles' "Oedipus Rex" which describes the story of Laius and Jocasta, the king and a queen of Thebes, who are told by the oracle at Delphi that the fate of their newborn son is to someday kill his father and marry his mother. They believe that they can change that destiny by killing the child but their plan backfires when, unannounced to them, the child grows up far away and fulfills his destiny by eventually murdering Laius and marrying Jocasta, neither of whom he knows is his parent. "Oedipus Rex" is analogous to Grendel because in both stories the main character has a fate which is exceptionally clear but he simply does not believe it, quite on the contrary, he believes that his actions will create his future, but he is tragically mistaken.

Creative Title: Critical Analogist

In The Yellow Wallpaper, various factors fostered a sense of isolation in the protagonist's psyche, which eventually drove her into insanity. The Narrator experiences isolation in numerous ways that include intellectual isolation, physical isolation, and emotional isolation, and each brings The Narrator closer the deterioration of her sanity. Charlotte Perkins Gilman’s character John, and his behavior, explain why the corrosion of The Narrator’s health took place. John’s insistence on remaining at the isolated home, his inability to accept the opinion of The Narrator and his belief in his knowledge as a physician leaves the Narrator feeling shut out from society, triggering her insanity. The Yellow Wallpaper portrayed life in the ____, where men had complete authority over the opposite sex deeming the opinions and emotions felt by females insignificant. This allowed men complete control over the social and personal aspects of life, including matters such as women’s health, friendships, and sex life. †¦but John would not hear of it†(75), is implied throughout the entire story. All her opinions about her own health, what she concluded would assist her to overcome her sickness, all discarded without a second thought. This intellectual isolation rapidly deteriorates the emotional connection to her husband and quickly causes tension between the couple. â€Å"‘Better in body perhaps-’ I began, and stopped short , for he sat up straight and looked at me with such a stern, reproachful look that I could not say another word†(82). John cannot comprehend that The Narrator would understand her body more so than a scholar with a degree in medicine. Nancy Woloclh explained in her document Women and the American Experience, the likelihood of a proficient physician at that time period, â€Å"The professionalization of medicine did not ensure its competence†¦not only were well-trained doctors unlikely to be very effective, but few were well trained,†(Woloclh 1996:77). Although we do not have knowledge if John was such a doctor, we can only suspect from what The Narrator expressed in her ournals; journals filled with comments like, â€Å"John is away all day, and even some nights when his cases are serious† (76) and â€Å"John is kept in town ever often by serious cases†¦Ã¢â‚¬  (79) suggests that John was having an affair and not actually staying out late like a professional of medicine would. The intellectual isolation experienced by the Narrator, as her thoughts and feelings about her healt h are ignored, the emotional intimacy and connection felt between husband and wife is diluted. John, being a male, is able to seek intimacy through other women, while The Narrator cannot seek out any because of her isolation from society. The Narrator’s physical isolation is additional factor that allows insanity to enter her mind. Living miles away from society, she is denied the social interaction needed for females. Her bed â€Å" is nailed down,†(79), her windows are â€Å"barred for little children†(76). Several times she tried to get John to permit her to visit

General Giap Essay

General Vo Nguyen Giap is perhaps the most important figure in the early history of communist Vietnam with the exception of Ho Chi Minh. General Giap’s skills and expertise of were an essential element of the French defeat in 1954. However General Giap cannot be held solely responsible, the political skills of Ho Chi Minh (the leader of the Viet Minh independence movement) cannot be underestimated. There were many reasons for the French defeat in Vietnam, abundant mistakes were made and the Viet Minh were lead by two of the greatest leaders of the 20th century. Giap rchestrated the defeat of the French and was particularly important in the battle of Dien Bien Phu. Ho Chi Minh was an experienced revolutionary and passionate nationalist infatuated by a single goal: independence for his country. He was a central fgure in the movement to free Asia from the restraints of colonialism. Ho Chi Minh was ultimately working towards the liberation of Vietnam from French colonial rule and â€Å"unity of views between the army and the people†. Ho Chi Minh was a founding member of the Indochinese Communist Party (ICP). The goals of the ICP included the overthrow of the French; establishment of an independent Vietnam uled by a peoples’ government; â€Å"help people in production, anti-literacy, sanitation and disease prevention†. General Giap was the Commander and Defence Minister of North Vietnam from 1944-1980 and was an integral component in the unravelling of French control in Vietnam. Previously, on the outbreak of World War II, Giap fled to China to Join Vietnamese Communist leader Ho Chi Minh, which led to the formation of the Vietnamese Independence League, abbreviated to Viet Minh. In 1945, armed propaganda teams under Giap’s command became the People’s Liberation Army. Subsequently in 1945, Giap served as interior minister in Ho Chi Minh’s revolutionary government created to defeat the French. Giap’s strength lay as a military commander and his scrupulous attention to organisation, which were vital elements in the French downfall. The Vietnamese opposition to the French began almost as soon as the French began to rule. The Vietnamese traditionally have resisted foreigners. Their defeat of China previously gave them a reputation of being one of the most feared nations in South East Asia, meaning that it took the French an extended amount of time to gain overall control. Prior to the 20th century, resistance to the French was constant and violent. The resistance was traditional and localised, involving isolated attacks which were easily contained by the French. Furthermore, World War One gave impetus and momentum to the growth of nationalism, the strong wish for growth, freedom and independence of one’s country and patriotism for Vietnam. Many Vietnamese men were forced to serve in France during WW1 and those who returned brought with them the revolutionary concept of nationalism and as a result the nature of the resistance changed to a more national approach rather than regionally focussed. Additionally, in 1905, Japan became the first Asian power in modern times to efeat a European power during a large naval battle. The Vietnamese determination and motivation were boosted, demonstrating that they could potentially defeat the French, one ot the most intluential European powers at the time. Following the reoccupation of Indochina by the French at the end of World War Two, the Viet Minh rebelled against the French and this became known as the first Indochinese war. French lack of knowledge of Vietnamese geography made it difficult for them to defend themselves. â€Å"The army trained the people in†¦ † guerrilla tactics that were highly successful as they were unlike any approach in the Western world. The unpredictable nature of the guerrilla tactics also minimised the losses of the Viet Minh’s army, making it stronger. The French army began to wear down, decreasing the men’s morale and eventually leading to an easier fght for the Viet Minh. Initially the French underestimated Vietnamese ability; unbeknown to the French they were numerically disadvantaged with 13000 Frenchmen fghting a 35000 strong Viet Minh People’s Army. Prior to the war it was acknowledged that Ho Chi Minh’s original name, Nguyen Tat Thanh, was widely known as many people had heard that he had been a ajor supporter of peasants and workers rights, who in turn supported him. This meant that if he needed a place to hide, the local peasants happily helped, making the Viet Minh virtually untraceable. The widespread support of Ho Chi Minh also meant that people trusted the movement towards independence and nationalism; giving the Viet Minh the political edge over the French. Back in France, the French public were beginning to realise that the conflict in Vietnam was not worth the effort; therefore support for the conflict was lessening. In addition, the Vietnamese determination and strength could not be matched by the French; the Viet Minh had ne thing that the French did not, a goal. The Viet Minh and Giap had learnt invaluable lessons from previous conflicts and mistakes, whereas the French had not. Dien Bien Phu was the longest confrontation and most furious battle of the French Expeditionary Corps. It was the final undoing of the French. In 1953, as both sides prepared for peace talks in the Indochina War, French military commanders selected Dien Bien Phu as the location for a fght with the Viet Minh. Viet Minh guerrillas and troops from the People’s Army of Vietnam surrounded Dien Bien Phu during the build up of the garrisons. The Viet Minh concealed artillery and supplies in camouflaged caves on the mountain face. The Viet Minh’s initial assault on the French almost immediately proved the vulnerability and flawed defence of the French. The French supplies and weapons were flown in by plane; however, this usually led to the shelling of the aircraft. The Viet Minh used local peasants to bring in supplies and weaponry, through dense forests, an entry the French had written off as impassable. As source A suggests â€Å"The Army established a good relationship with the people and relied on the people to fight and defeat the enemy’. Giap used the element of surprise by skilfully employing supporting operations which deceived the French. Giap easily identified the French’s critical vulnerability and used their mistakes to his own advantage. The work of a great strategist. One crucial decision that Giap made was when he moved his own headquarters to the Dien Bien Phu battle site. This allowed him to personally oversee the conflict, and clear up confusion or misunderstandings straight away. General Giap was able to carefully dictate time and place engagements throughout his meticulously planned operation. The heavy