Friday, June 5, 2020

The Global Financial Crisis And Debt Securitization Finance Essay - Free Essay Example

Introduction The present global financial crisis is the worst financial crisis world has witnessed since the great depression of the 1930s. In this essay, I attempt to critically review the role played by capitalism in causing this crisis. I shall concentrate the causal events that happened in United States of America, though there were similar events to lesser extents that happened elsewhere in the world, especially in developed countries. Such related causal events in other countries are not unexpected, given the significance America has in the global economy, as well as the fact that comparable ideas were used by politicians and financial institutes across the globe. In the first part of the essay, a brief history of debt securitization is given, followed by various details on how the system of CDOs (collateralized debt obligations) used to function. In the latter part, the effects it had on the whole financial system is analyzed as well as what went wrong and the reasons behind it. The essay concludes by critically reviewing the whole system and linking it to the principles of Capitalism, that was found to be the root cause of this systemic failure. A brief history of debt securitization The current system of securitisation of house mortgages started in the eighties. Though many have tried to present this system as an innovative technology initiated by private companies to spread their risk, the reality is different. It was a result of the US Federal reserve in 1979 controlling growth of money to reduce inflation. Hence financial companies were forced to chase risky high return mortgages. However, the aftermath of this was that these financial companies had to transfer these risky assets from their books. Thus the system of securitization was born. Many economists realized the high potential of this system. Mortgages and other assets were grouped into various risk classes, and the prices of each of these were varied depending on the risk covered. Buyers of these packaged assets could pick the ones that matched with their risk appetite. These financial companies charged fees for the originating these loans, as well as for evaluating the risk and further charges a se rvice fees. The capital market would then sell these sliced and diced packages as CDOs (collateralized debt obligations) to fit the demands of the potential investors. This whole system was hailed as a major democratic movement because this helped many middle class people to get into home ownership. Initially, the banks and other financial institutions thought that they will not be affected by any interest rate risks. This also brought two additional possibilities. Firstly, CDOs and packaged debt assets could be easily traded anywhere in the world, and were free from any national borders. Post world wars, and the subsequent growth that happened across the developed countries (and most of developing countries), there was huge amount of investors with money, who were in search of high returns. Hence the risk appetite of these investors were high. Hence, these packaged assets were very sought after by these investors. It did not take much time before the value of these securitized d ebts overtook the value of US Federal debts market Minsky. Also was the advantage that these assets were denominated in dollars (1987). Secondly, the significance of banks declined in comparison to capital markets. So much that the share of banks trading financial assets declined from fifty percent to twenty five percent in the years from 1950 to 1990. There were experiments conducted by the policy makers favouring unregulated capital markets. For instance, for the banks to function profitably, they had to have a 450 points spread between the assets interest rate and liabilities interest rate. This was essential to profitably cover the profits including the return on capital, customer service costs as well as the costs to meet strict government regulations. In contrast, the capital markets operate under much relaxed rules such as exemptions from capital and reserve ratios, and hence could afford a lower spread. To overcome these tough regulations, banks started charging for the o rigination of these loans, but moved these loans outside their books so as to get away with the reserve requirements as well as capital requirements. Then it was the job of the investment banks to purchase these mortgages, package them based on the risk profile into various CDOs and sell them to the investors. Various stakeholders responsible for the crisis According to Minsky (1987), these large multinational investment banks will then pay credit ratings agencies and get good credit ratings. Economists were also hired by them, to show that the earnings will be much more than the risks associates. Hence these credit rating agencies and economists, effectively acted as if they were credit enhancers, helping these investment banks by certifying that the potential risk of default on these subprime mortgages were not too different from that of other traditional mortgages, thus helping these CDOs to get investment grade rating that are looked upon by pension and insurance fund managers. Also, other enhancements such as early repayment penalty and guaranteed buybacks in case of exceedingly large number of foreclosures and defaults, were added to these packages. The buybacks later became significant because when the financial crisis happened, these buyback guarantees came to haunt these backs, because the risk was transferred back to these b anks. Also, these securities were insured by companies such as CFIG, AMBAC, MBIA, FGIC Corp etc. These investment banks would have found it extremely difficult to sell these securities had there been no good credit ratings and no affordable insurance (Gutscher and Richard 2007). When the financial crisis started, ratings for these very insurers got degraded, thereby affecting the securities they had insured. One of the root cause of the problem can be pinned down to the incentive structure that was in place. After the 2000 stock market crash, alternate profit avenues were in demand from the investors. Because the Fed followed a low interest rate regime, the conventional markets did not present them the required returns. They wanted to chase high return high risk investments. Also, the brokers got excellent incentives for persuading the mortgage borrowers to agree to extremely adverse terms and conditions, in the process increasing the securities value. Also, hybrid variety of ARM s were also promoted. These risky mortgages were even approved by Greenspan, the Fed Chairman. Some studies reveal that out of the total subprime loans of $2.5 trillion performed, most borrowers got a bad deal than they were eligible for. Wrong incentives and credit enhancers For instance, many borrowers with good credit scores who would have been eligible for traditional loans, were persuaded to take these high risk sub-prime mortgages. Most of them were at least eligible for better terms and conditions. The root cause of this problem was the incentive plans which rewarded these brokers immensely (in comparison to traditional loans) for promoting these high interest high risky loans (Simon and Brooks, 2007). Brokers and originators also were not persuaded to ensure proper documentation and the borrowers capability to repay these mortgages, because they did not have to worry since the originators will not be holding on to these mortgages. This was like an assembly line in which the brokers and banks were profiting by the income they got from fees and service charges, and not from interest rate spread. Hence they were rewarded more by the quantity of mortgages they promoted. Thus in reality, most of these affordable mortgages werent what they promised , because when the borrower had to reset these loans, they had to pay service charges for various agents and early repayment penalties. The bankruptcy laws made it almost impossible for the borrowers to escape from the mortgage debt. These laws were passed by the US Congress, and it acted as another form of credit enhancer to these invest banks, who later sold these assets. Comparison with conventional banking Hence, the whole package of these CDOs with all these incentives and enhancements made it extremely easy for the investors to buy these very risky assets without much reluctance. While traditional banks stressed a lot on the features of the mortgage borrower (age, assets, income, profession, credit history etc), this new system meant that there was infinite amount of money available to invest in these extremely risky CDOs, with no incentive to assess the repayment ability of these borrowers. Thus extremely risky debts were grouped and divided into different groups again, and were sold to various investors, who bought them based on their risk appetite. As with any debt, the senior tranche will be the first priority for repayment, and the junior tranche only after the seniors are paid. However, it is almost astonishing to notice that some of these junior tranches were grouped again and again, thereby converting some of those extremely risky debts as highly rated investment-grade seni or debt. All this made the whole system extremely fragile. High leverage ratios This new system of securitization into CDOs also increased the leverage ratios, and it was not uncommon to see leverage ratios as high as fifteen-to-one or even more. The hedge funds and other investors put only a small amount of their own capital into these securities. Thus the economic stability promoted creativity and innovations, however by stretching and increasing the leverage ratios and easy availability of credit, making the whole system inherently unstable and fragile. What encouraged the financial companies to increase leverage ratios is that for whatever expected losses, ROE (return on equity) is raised by higher and higher leverage ratios. This was fuelled by the fact that the house prices or real estate prices (the underlying assets in this case) kept on increasing because of demand fuelled by this easy availability of credit, thus the new loan amounts kept increasing and further encouraging financial companies to keep on increasing the leverage ratios (both loan amoun t-to-borrower income and loan amount-to-loan value. The logic (or assumption) used was that these houses can be either sold or refinanced later at a much higher value if at all any unexpected trouble occurred. Minsky stated that the capital markets and the whole system will undergo three stages: 1.) hedge stage 2.) speculative stage and finally 3.) Ponzi Stage. All these stages required the price of these underlying assets to appreciate in order to confirm it. Hence, owing to this virtuous cycle, it was very hard to prevent the Ponzi stage from happening. Wrong assumptions According to Chancellor (2007), the risk management methodologies used in modern times makes use of data on historical volatility, as a substitute or alternative to risk. If volatility declines, subsequently the risk is also supposed to decline, thus encouraging financial companies to enhance the leverage ratios. Bernanke in 2004 described the period as great moderation, which basically suggested that since volatility is permanently less, it was encouraged to have higher leverage ratios. Thus, Chancellor states that a fund (eg: hedge fund) with just  £1 million of its own funds was allowed to have a leverage of as high as  £85 million of CDOs, an astonishing 85 to 1 leverage ratio! Problems with the system The newly formulated system of debt securitization was very little regulated by policy, and was not flexible enough to change as things went bad. Rather than being a highly controlled industry, housing finance was very much a highly unsupervised, speculative and highly leveraged industry. The whole Ponzi scheme will stop only when asset prices declined or stopped rising, or if interest rates rose. Both of these scenarios were almost impossible to avoid, because they were both correlated dynamically since Federal rate increases will result in a decline in speculation, and will ease the increasing housing prices and will result in a rising risk spreads. The aftermath What happened after the start of this crisis were completely unexpected. The losses on these highly risky highly leveraged sub-prime surpassed expectations which were all based on historical data. This resulted in the prices of asset prices to decline drastically, creating a panic across the markets. Problems in one market spread rapidly and increasingly to other markets, which includes the commercial paper, mutual funds and money markets. The commercial banks were now extremely risk averse, and did not even lend for small time periods. Because of the very high leverage ratios, extremely huge losses were suffered by money managers, many times much more than their capital. They had to quickly respond to this crisis, and they did it by deleveraging by selling the assets on their books, which inevitably put a lot of negative pressure on those assets prices. The rippling effect Following the subprime mortgage market collapse, the panic and qualms broadened to similar and dissimilar asset-collateral security markets, which included municipal bond and real estate bond markets. Markets realized the extent and significance of the systemic faults with the system, particularly that of the credit rating companies credit ratings. The markets also understood, though very late, that insurers would have tremendous losses, if all these asset-backed securities were riskier than understood earlier. This resulted in the severe downgrading of these insurers credit ratings. Since the financial position of these insurers became extremely bad, the assets those insurers had insured became valueless thus the security and bond ratings were severely downgraded. In a lot of instances, to make things even worse and regrettably, the worst securities were also held by these investment banks, and had either held positions in some of these insurers, or had guaranteed taking back these mortgages. To improve the terrible condition the capital markets and the global financial markets were in, the United States government had to come out with massive bail outs of its various bank and insurance companies. Some of them went bankrupt, but some of them were too big for them to be allowed to fall. Till Jan 2009, almost one trillion dollars of bad debt was completely written off by those financial institutions combined, assisted mostly by those government bailouts. Conclusion Till 2009 January, the US Treasury had provided almost four hundred billion dollars of assistance, mostly by purchasing the assets, and in certain cases taking equity positions. The actual cost of supporting the financial system is expected to be much more, at least some trillions of dollars. It is worth noting that the whole securitized debt market was only around ten trillion, and the share of the sub-prime mortgages were more than 2.5 trillion dollars. From all these facts explained above, one thing is evident and clear. The series of events that caused this financial crisis would not have happened had the markets been more regulated, and most importantly, had the policy makers not believed and followed the tenets of capitalism so blindly. The extremely heavy losses and bankruptcies that have happened, and those that are yet to happen are not just the case of bad housing loans offered to poor home loan borrowers for them to purchase luxury manors which they did not have the capa city to repay. But instead, this is clearly a case of failure of the so called neo-liberal capitalism, which believed in unregulated markets, markets will decide for itself what is good for it, regulation means bad for businesses and economy, Its all about creating shareholder value etc. There has been a systemic failure, and sadly those people who were responsible for the whole sequence of events have gone scot-free, and the millions who are terribly affected are the very same low-income or middle class people (including pension funds and other social security funds), who were deceived by those responsible for it all. It is high time that governments who come to power repossess finance from the completely unregulated capital markets, and bring in necessary regulations to make the system more equitable and stable. This will also help bring some order back to the system, and regain some control from the Wall Street.

Sunday, May 17, 2020

Single Working Mothers A Long Lost Memory - 2922 Words

Single Working Mothers Growing up in today’s society, are the youth still retaining the same values? Are they aware of current events and the difference between what they should do and what they want to do? With every passing year, society seems to move at a faster pace where families do not find time to sit and talk to each other. It is a more and more rare occurrence when children get to see their parents. Dinner tables now contain unhealthy fast food and family outings are a long lost memory. A mother is responsible for strengthening the roots of the child so that they bloom into productive and responsible individuals. But what if mothers do not monitor their children’s activities? Does it always lead to them being weak in aspects of†¦show more content†¦Something similar happened to me. As a child of a single working mother, I played all through my adolescent years, thought my studies would yield nothing and chose to give importance to dating until I realiz ed how my mother was struggling to give us a single meal. She would work twelve long hours, which left us with no other alternative but to eat fast food. She was disappointed with her inability to fulfill her child’s needs in terms of education, behavior and health. This made her realize that she was spending less time nurturing us. From then on, she spent every night teaching us how to interact with people and also how to tackle difficult situations. She switched her day hours to nights, worked full time and also gave us attention. This interaction and support molded us into courteous and polite individuals, taught us basic cooking skills, encouraged us to indulge in outdoor activities and set certain ethical rules we had to follow. It is not about restricting the mother from working, but encouraging her growing child into a dignified person; this is the challenge. Interaction There are intersecting tensions in families because of long working hours of women. According to United States Census Bureau, the number of single mothers living with children younger than 18 years of age in 2010 is 9.9 million, which is an increase from 3.4 million in 1970 (Losoncz and Bortolotto 122). As the numbers of women are growing in the labor market, their families are

Wednesday, May 6, 2020

High Divorce Rates - 1469 Words

Family Institution (High Divorce Rates) Have you ever been to a traditional wedding? They are the most beautiful breath taking experience that you have ever seen; many symbols like the exchange of rings, uniting candle, flowers, bride’s maids and best man, and the bride in a beautiful white dress. Also weddings are a lot of fun too. They are the start of a family institution. On the flip side they are expensive and stressful for the couple at hand and the odds of staying together are only one out of every five marriages ended divorced within the first five years. Nowadays unlike the past more people are living together without getting married. According to the Associated Press the divorce rate was down to the lowest at 3.6% (per†¦show more content†¦In the United States, no-fault divorce is now available in all 50 states and the a District of Columbia-New York, the last state to still require fault-based divorce, passed a bill this year (2010) permitting no-fault divorce. According to Time magazine w omen are simple happier with out men and father are not necessary. Media has a high impact on the belief that shows like Sex and the City are the new shape of society. Women are financial stabile and don’t need men for financial stability. Family Institution (High Divorce Rates) Have you ever been to a traditional wedding? They are the most beautiful breath taking experience that you have ever seen; many symbols like the exchange of rings, uniting candle, flowers, bride’s maids and best man, and the bride in a beautiful white dress. Also weddings are a lot of fun too. They are the start of a family institution. On the flip side they are expensive and stressful for the couple at hand and the odds of staying together are only one out of every five marriages ended divorced within the first five years. Nowadays unlike the past more people are living together without getting married. According to the Associated Press the divorce rate was down to the lowest at 3.6% (per 1000) sinceShow MoreRelatedHigh Divorce Rates1163 Words   |  5 PagesWhy is the Divorce Rate So High? Intro to Sociology April 25, 2006 A question that has been plaguing sociologists for years is the issue of high divorce rates. Since the 80s there has been an extremely high rate of divorce in our country. In statistics I found from 2004 the percentage of divorce was at 47(NCHS). This question has been studied vigorously, sociologist have looked in every direction for one solid reason that our divorce rate is so high, even compared to other developed countriesRead MoreA High Rate Of Divorce Essay892 Words   |  4 Pagesâ€Å"When you look around this building [district office], you will see a high rate of divorce. I’m certain that significantly more than 50% of district administrators here are divorced. I am part of this statistic. At this level of leadership, there are many tolls on personal relationships. We are discussing a 24-7 job with high and very public expectations.† –P3 Marital trajectories found within couples who are dominated and led by a strong women are often alarming. Participant 3 described thisRead MoreHigh Divorce Rate in Egypt1936 Words   |  8 PagesHigh Divorce Rate in Egypt Social Sciences 5th semester Soha Ihab Elsewerky 19-1343 | PD 1 Research: Introduction: Since we were kids we were brought up to believe that we live all our lives waiting for a happily ever after. Your mother, friends and the society always pushing you and focusing on you having a husband. From your early age you’re taught to take care of your looks and posture, always making yourself pleasing. Media surrounded us with fairy tales stories that grew our expectationsRead MoreThe Divorce Rate Of Japan996 Words   |  4 Pages Divorce Ever since the 1950’s, the rate of divorce has been increasing immensely to a degree that it is becoming socially acceptable. It is losing its stigma as well. Most divorces in the world have similar reasons and statistics as to why divorce is becoming more common, but also have some differences. For instance, Japan’s divorce rate is at 27% whereas Russia has a higher divorce rate around 60% due to some of the same controversial reasons. Japan’s divorce is still fairly lower than theRead MoreDivorce Rate And Divorce Rates1224 Words   |  5 PagesDivorce rate also known as divorce demography, which is the study of demographic factors that impact divorced as a social phenomenon, the divorce demography can clearly evaluate and reflect the marriage stability and happiness index of certain countries or area and that is the reason why data statistics of divorce rate is important. According to ONS (Office of National Statistics), the divorce rate has not been that lo w since 1974, when it was 0.9%. The number of divorces in 2014 was declined toRead MoreThe Divorce Rate Of America959 Words   |  4 PagesDivorce Rate Throughout time, practices that were once never used, become more common. In the 1600s divorce was a forbidden practice or a last resort. Since then, laws have changed, and so hasn’t the stigma related with divorce. The guilt and fault that divorce once carried has vanished. According to the book Should I Keep Trying to Work it out, â€Å"In the United States, researchers estimate that 40%–50% of all first marriages will end in divorce or permanent separation. The risk of divorce is evenRead MoreWhy Has The Divorce Rate Of The Uk Change Over The Past 30 Years?1181 Words   |  5 PagesWhy has the divorce rate in the UK change over the past 30 years? Contents Introduction.................................................................................................................................... 2 Main Body†¦........................................................................................................................................... 3 Conclusion.............................................................................................................Read MoreEffect Of Divorce On America826 Words   |  4 Pagesdecreasing. The online database â€Å"The Effects of Divorce In America† connects to how many children will grow to see there parents divorce before the age of 18. â€Å"Mounting evidence in social science journals demonstrates that the devastating physical, emotional, and financial effects that divorce is having on these children will last well into adulthood and affect future generations†. This problem that is occurring with children being involved in divorces is causing the world to be kept at a low withRead MoreThe Effects Of Divorce On Children And Females1554 Words   |  7 PagesTristina Arellanes Mrs. Hanson English 12 4 November 2014 Effects of Divorce The human species has evolved to make commitments between males and females in regards to raising their offspring, so this is a bond (Lancaster). This means that humans were not meant to be with one mate their whole life. People only stay by this tradition so that children can grow up with the bond of both parents and not have to leave full responsibility on one parent. Couples without children, however, stay togetherRead MoreThe Divorce Rate Of Divorce1123 Words   |  5 Pagesrelationship, therefore they choose divorce, which is one of the solutions to cope with problems between husband and wife. Furthermore, most people think carefully before they get marriage. However, the divorce rates trend to continually increase nowadays, thus it might be argued that divorces can be taken place easier than the past. In the United States, researchers estimate that 40%–50% of all first marriages, and 60% of second marriages, will end in divorce. Divorce has always been present in Ameri can

Tuesday, May 5, 2020

Dyslexia Essay Example For Students

Dyslexia Essay DyslexiaDYSLEXIAGeneral informationImagine if my report was written like this: Dyslexia is wehn yuor midn gets wodrs mixde pu. If you were dyslexic, thats how you might read my report. The word dyslexia is derived from the Greek dys (meaning poor or inadequate) and lexis (word or language). Dyslexia is a learning disability characterized by problems in expressive or receptive, oral or written language. It is characterized by extreme difficulty learning and remembering letters, written or spoken words, and individual letter sounds. Extremely poor spelling and illegible handwriting are common symptoms. Problems may emerge in reading, spelling, writing, speaking, or listening. Dyslexia is not a disease, therefore it doesnt have a cure. Dyslexia describes a different kind of mind, often gifted and productive, that learns differently. During my extensive research of this topic, I have become very interested and sympathetic for people who have it. Dyslexia is not the result of low intelligence. The problem is not behavioral, psychological, motivational, or social. It is not a problem of vision; people with dyslexia do not see backward. Dyslexia results from the differences in the structure and function of the brain. People with dyslexia are unique; each having individual strengths and weaknesses. Many dyslexics are creative and have unusual talent in areas such as art, athletics, architecture, graphics, electronics, mechanics, drama, music, or engineering. Dyslexics often show special talent in areas that require visual, spatial, and motor skills. Their problems in language processing distinguish them as a group. This means that the dyslexic has problems translating language to thought (as listening or reading) or thought to language (as in writing or speaking). Dyslexics sometimes reverse letters and words (b for d, saw for was). In speech, some dyslexics reverse meanings (hot for cold, front seat for back seat) or word sounds (merove for remove). Here is a test to see if you have any signs of dyslexia. Few dyslexics show all the signs of the disorder. Here are some of the most common signs:* Lack of awareness of sounds in words, sound order, rhymes, or sequence syllables* Difficulty decoding words single word identification* Difficulty encoding words spelling* Poor sequencing of numbers, of letters in words, when read or written,e.g.; b-d; sing sign; left felt; soiled solid; 12-21* Problems with reading comprehension* Difficulty expressing thought in written form * Delayed spoken language * Imprecise or incomplete interpretation of language that is heard * Difficulty in expressing thoughts orally * Confusion about directions in space or time (right and left, up and down,early and late, yesterday and tomorrow, months and days) * Confusion about right or left handedness * Similar problems among relatives * Difficulty in mathematics often related to sequencing of steps or directionality or the language of mathematicsWho ha s dyslexia?The National Institute of Health estimates that approximately 15% of the U.S. population is affected by learning disabilities. Of the students with learning disabilities who receive special education services, 80-85% have their basic deficits in language and reading. Every year, 120,000 additional students are found to have learning disabilities, a diagnosis now shared by 2.4 million U.S. school children. Many children are never properly diagnosed or treated, or fall through the cracks because they are not deemed eligible for services. Dyslexia occurs among all groups, regardless of age, race, or income. Well-known dyslexics who learned to cope include Nelson Rockefeller, Albert Einstein, Thomas Edison, and Winston Churchill, . At Harvard, dyslexics are allowed to take their examinations on a typewriter, which for some reason significantly helps their scores. Recently, national attention was drawn to Ennis Cosby (son of Bill Cosby), who was also dyslexic. His father ( Bill Cosby) remembers watching in frustration as his son studied and studied but got nowhere with his grades. Ennis managed to enter Morehouse College in Atlanta, but he continued to struggle with his schoolwork. His mother Camille told Jet Magazine in 1992, We didnt know that Ennis was dyslexic until he went to college. However, Ennis enrolled in a short program that quickly prepared him to deal with his dyslexia and to fully master reading. Soon after he made the deans list. He then headed for graduate school in New York City to become a teacher of children with learning disabilities. Ennis was also a good singer and actor and shortly before he was killed, he promised a photo shoot with Fila. .u6801600680cf77ce77eee2036face034 , .u6801600680cf77ce77eee2036face034 .postImageUrl , .u6801600680cf77ce77eee2036face034 .centered-text-area { min-height: 80px; position: relative; } .u6801600680cf77ce77eee2036face034 , .u6801600680cf77ce77eee2036face034:hover , .u6801600680cf77ce77eee2036face034:visited , .u6801600680cf77ce77eee2036face034:active { border:0!important; } .u6801600680cf77ce77eee2036face034 .clearfix:after { content: ""; display: table; clear: both; } .u6801600680cf77ce77eee2036face034 { 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; } .u6801600680cf77ce77eee2036face034:active , .u6801600680cf77ce77eee2036face034:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u6801600680cf77ce77eee2036face034 .centered-text-area { width: 100%; position: relative ; } .u6801600680cf77ce77eee2036face034 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u6801600680cf77ce77eee2036face034 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u6801600680cf77ce77eee2036face034 .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(; position: absolute; right: 0; top: 0; } .u6801600680cf77ce77eee2036face034:hover .ctaButton { background-color: #34495E!important; } .u6801600680cf77ce77eee2036face034 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u6801600680cf77ce77eee2036face034 .u6801600680cf77ce77eee2036face034-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u6801600680cf77ce77eee2036face034:after { content: ""; display: block; clear: both; } READ: Ww1 From Begining To The Us Enters EssayMany successful people are dyslexic and many dyslexic people are successful. Recent research has established that dyslexia can run in families. A parent, brother, sister, aunt, or grandparent may have had similar learning difficulties. One consistent fact is that 80% of dyslexics are male. Scientists believe the answer to this mystery can be found in the chromosomes. They believe, however, it is possible that dyslexia is caused by a defect on Chromosome 15. What can be done?There are several ways to discover and successfully cope with a learning disability such as dyslexia. One method is to have the dyslexic person take a visual examination by a behavioral optometrist. Here is how one person learned to cope with dyslexia: A man that was examined had problems in eye tracking. He couldnt follow a line across a page smoothly, and his eyes were operating independently. Extensive vision therapy was begun. He came to the offices two and three times a week. No special reading training was suggested. Within a year he was reading at three or more years above his class level. His grades jumped from low scores to the top of the class. He was pleased with himself academically, and no longer found it necessary to walk out of class when he was agitated in other words, he didnt get that upset anymore. Dyslexia is easier to prevent than to cure. Individuals with dyslexia need special programs to learn to read, write, and spell. Traditional educational programs are not always effective. Individuals with dyslexia require a structured language program. Dyslexia does not usually go away of its own accord, and it can follow otherwise a bright individual. Societies can provide referrals for testers, tutors, and schools specializing in dyslexia, as well as information on new technologies, Individualized Education Programs (IEPs), Individuals with Disabilities Education Act (I.D.E.A.) legislation, Americans with Disabilities Act accommodations for college students and adults, and medical research updates. They encourage early intervention, including a multisensory, structured, sequential approach to language acquisition for individuals with dyslexia. They offer professionals and educators information on multisensory structured language approaches to teaching individuals with dyslexia

Sunday, April 19, 2020

Moraliy Of Frankenstein Essays - Fiction, Literature,

Moraliy Of Frankenstein Morality. It has been questioned by people, honored by people and revered since the beginning of time. Yet even today not one person can say what is morally right. It is a matter of opinion. It was Dr. Victor Frankenstein's opinion that it was alright to create a monster. Frankenstein's creation needed a companion. Knowing that his first creation was evil should the doctor make a second? With the knowledge at hand, to Dr. Frankenstein, it is not at all morally correct to bring another monster into the world. Looking at this probelm with his family in mind, the doctor begins his work on the second monster. The first monster threatened Frankenstein and even his family. The monster angrily said to Frankenstein, I can make you so wretched. (pg. 162) Trying to scare Frankenstein for not creating his mate the monster resorted to threats. If the good doctor does create a companion for his first creation he may be endangering others. The miserable monster whom I had created, (pg.152) says Victor upon looking back at his work. If there is another monster there will be twice the power and possibly twice the evil, which could hurt or kill his family. When and if Frankenstein commits the moral sin of creating another monster he may be rid of both monsters forever. With the companion you bestow I will quit the neighbourhood of man,(pg 142) promises the morally corrupt monster to the doctor upon the completion of his partner. When the doctor, if and when he, finished his first creation's mate there is a chance that the monsters will not keep their promise and stay in Europe envoking fear into townfolk. The good doctor, trying to act morally, destroys the monster for the good of the world. The monsters can potentially take over whatever they please. A race of devils would be propegated,(pg. 163) thinks Frankenstein to himself in his study. The monsters, if powerful enough, could possibly take over Europe. Frankenstein realizes that he can not possibly doom the world to benefit himself. Shall I, in coold blood, set loose upon the earth a daemon..(pg. 162) argues Frankenstein with his creation. It is not morally right for one person to unleash such a terror on the world to benefit only himself and his family. Frankenstein will not let any example change his mind on the point that the monster is and will always be morally corupt. Continuing on his point that the monster was too evil to duplicate, Frankenstein says, Your threats cannot move me to do an act of wickedness; but they confirm me in determination of not creating you a companion in vice.( pg. 163) Frankenstein will not sacrifice his morallity because of persuation from a monster. Although beholding the threat of death and misery Frankenstein held his ground and did not sacrifice his moral. When and if Frankenstein creates another monster he can not feel as if he has done the morally right thing. From creating the monster Frankenstein will some how be making people other than himself unhappy. I consent to your demand, on your solem oath to quite Europe forever, and every other place in the neighbourhood of man,(pg. 143) says Frankenstein as he sees the power that the two could possibly possess. The good doctor sees that with his own hands he could possibly scar the world forever. The doctor wants, if anyone, himself to be unhappy instead of all of man kind. Begone! I do break my promise, (pg. 162) states the doctor angrily. Not thinking about himself but the world unselfishly breaks his promise to the monster. Possessing such a great mind the doctor is able to realize that a greater evil will be realesed upon the earth then upon himself. Your threats cannot move me to do an act of wickedness,(pg. 162) says the doctor as he argues his point with his creation. The doctor sees that a greater and more horrible result can come from him making the second monster than not. With the knowledge at hand, to Dr.Frankenstein, it is not at all morally correct to bring another monster into the world. On the one hand if the second monster was created Frankenstein's

Sunday, March 15, 2020

Vespuci vs. Columbus essays

Vespuci vs. Columbus essays AMERIGO VESPUCCI VS. CHRISTOPHER COLUMBUS By the beginning of the second part of the 15th century feudalism and small kingdoms, started to get weaker and weaker. Because after that time heavy weapons were invented so, these small kingdoms and feudal places could not be able to defend themselves anymore. By that time, empires such as Spain, Portugal, England and some other empires like these started to become powerful because they have those heavy weapons. After these days small kingdoms and the bourgeoisies in those feudal areas and big kingdoms should find another way to earn money and goods. Mankind have always wanted more and more so this ambition makes people to find another way. So, they started discoveries all around the world in order to find valuable things, valuable places and shortcuts to Asia so as to trade directly with those Asian countries. By starting discoveries Spain and Portugal get stronger day by day because in Spain and Portugal the monarch was directly helping the voyagers by giving them ships and crews so these voyagers were going to the ocean-sea in order to discover the new world. By the way when discoveries got important some important and famous voyagers grew up such as Amerigo Vespucci, Christopher Columbus, Hernan Cortez. In this essay the major focus will be on Amerigo Vespuccis life, his voyages and his difference between Christopher Columbus. The second focus will be on Who is the real founder of the new world America? Amerigo Vespucci is the person for whom North and South America was named after. Vespucci had a wonderful life and found so many things on his voyages. Amerigo Vespucci was born in Florence, Italy in March of 1451, and grew up in a considerable mansion near a river. When he was a young boy, he was very good at mathematics and his hobby was a little strange; it was copying maps. His dream as a young boy was to travel and get a better pictu...

Thursday, February 27, 2020

Peroxisomes research Article Example | Topics and Well Written Essays - 1250 words

Peroxisomes research - Article Example Luciferase measurement The genomic DNA was amplified using PCR 500 bp upstream region of Act1 Cta1, iPex3A and iPex3B open reading frames. The PCR fragments were inserted upstream of Luciferase reporter gene in pLUC plasmid. The promoter-pLUC plasmids were transformed into wild-type yeast via the PEG - LiAC transformation method. The Transformants were plated on YPD plates with kanamycin. Each colony of the transformant was grown in 5ml YPD for 18 hours at 30C. The cells were spin down in a centrifuge. The cells were resuspended in 1mL low fluorescence media (YNB). This sample was divided into two parts. To one sample 100uls of 0.003% hydrogen peroxide was added. The tubes were incubated at 28C for 30 minutes. The cells were spin down. The cells were washed 3 times with 1ml 1XPBS. The final pellet was resuspended in 500 ls of 1X PBS. The cells were separated into 10,000 cell aliquots. One ml lysis reagent to the cells and incubated for 5 mins. The luciferase assay reagent was added to lysed cells. The int ensity of light emitted from sample was measured with a luminometer. Statistical analysis: Each sample were measured six times and standard deviation was determined. Further, t-test were carried out to signify the difference in the values. Results: To determine the role of iPEX3A and iPAX3B in peroxisomal function set of experiments were carried out. In first sets of experiments accumulation of H2O2 were determined in different mutant having single mutation in cat1, ipex3A and ipex3B. Table 1 displays the results of H2O2 treatment on these three mutants along with wild type (positive control) cells. There was significant increase (p