Financial Crisis Between 2007 And 2009 Essay - 1331 Words

Financial Crisis between 2007 and 2009 was the worst economic crisis after the Great Depression in 1930s. This crisis was a worldwide crisis as it affected the financial system globally and led to collapse in economy. Financial intermediation is a process of banks that take funds from the depositor and lend them out to the borrower. In the financial transaction, financial intermediary acts as the middleman between two parties. Commercial bank, investment banks, pension funds are the example for financial intermediation. This kind of financial intermediary usually provide mortgage to the lender. Housing prices in the United States rose steadily after the World War II. Although some research indicated that the financial crisis started in the US housing market, the main cause of the financial crisis between 2007 and 2009 was actually the combination of housing bubble and credit boom. The banks created so much loan that pushed the housing price to the peak. As the bank lend out a huge am ount of money, the level of individual debt also rose along with the housing price. Since the debt rose faster than people’s income, people were unable to repay their loan and bank found themselves were in danger. As this showed a signal for people, people withdrew money from the banks they considered as â€Å"safe† before, and increased the â€Å"haircuts† on repos and difficulties experienced by commercial paper issuers. This caused the short term funding market in the shadow banking system appeared aShow MoreRelatedImpact of Financial Crisis on Gulf Area Essay1732 Words   |  7 PagesThe global financial crisis that was experienced in 2007/2008 affected many nations of the world. Some countries such as America and most European countries were hard hit since they were directly affected by the crisis. Other countries especially those in Asia and Africa were not adversely affected as they were not directly hit by the crisis. This crisis started in the United S tates after the housing bubble busted. Although the bursting of the housing bubble was the main cause of the crisis, there wereRead MoreThe Global Financial Crisis Of 2007-20081123 Words   |  5 PagesThe Global Financial Crisis of 2007-2008 is the worst financial crisis since the 1930’s The Great Depression (Reuters, 2009). Even if bailouts of banks by national governments prevented the collapse of major financial institutions, worldwide stock markets continued to drop. Evictions and foreclosures overwhelmed the housing market while severed unemployment embraced the labor market (Baily and Elliot, 2009). This global financial crisis was responsible for the decline in the consumers’ wealth, andRead MoreIntroduction Of The Bank Of England986 Words   |  4 Pagesin issuing notes. This concept leads to general idea of this paper, which will look at the evolution of output, inflation, the official bank rate set by the Bank of England and government spending in the UK ( Greer, 2009). It is fascinating for one to track on how the global financial integration has been evolving for the past century. Understanding the evolution of output is possible by looking at the measured stocks of the external assets and liabilities; together with the cumulative consequencesRead MoreVietnam And Its Effects On The United States1101 Words   |  5 Pagesopenness and (ii) Before the crisis, Vietnam was ranked the 50th and 41st among the top 50 countries with highest exports and imports relatively, accounting for 0.3% of total global exports and 0.4% of total global imports. Two majors news affecting Vietnamese exports in the seven-years period between 2001 and 2007 are the opening of the US market starting in 2001 and the joining of Vietnam into WTO in 2007. During this period, lasting until before the financial crisis, Vietnamese exports had beenRead MoreGovernment Intervention And Laissez Faire Of Market Mechanisms1369 Words   |  6 Pagesby the plethora of explanations concerning it, the 2007-08 financial crisis that originated in the United-States is highly complex. The literature presents various causes, most of which can be placed on either side of a debate between government intervention and laissez-faire of market mechanisms. On one side, it is argued that financial actors are responsible for the crisis as a result of their use and distribution of complex and risky financial products, and their irresponsible lending. On the otherRead MoreThe Effect of Recent Financial Crisis and Regulatory Implications in Asia1532 Words   |  7 PagesNow on the larger scale is the impact on the institutional level of the global financial crisis. The financial crisis began in United States in 2007 and spread to other countries. The crisis was triggered by a liquidity shortfall in United States banking system and resulted to the collapse of financial institutions. Asia is one major continent in which the recent financial crisis had spread. The impact of the crisis had far reaching effects on the economy of Asia than many people had anticipatedRead MoreThe Financial Crisis : Deregulation Or Over Regulation?1175 Words   |  5 PagesThe Financial Crisis: Deregulation or Over-regulation? As evidenced by the plethora of explanations concerning it, the 2007-08 financial crisis that originated in the United-States is highly complex. The literature presents various causes, most of which can be placed on either side of a debate between government intervention and laissez-faire of market mechanisms. On one side, it is argued that financial actors are responsible for the crisis as a result of their use and distribution of complexRead More2008 Us Economic Recession1709 Words   |  7 PagesINTRODUCTIONS The  Global Financial Crisis  of 2008 is considered by many economists to be the worst  financial crisis  since the  Great Depression  of the 1930s. It resulted in the threat of total collapse of large financial institutions, the  bailout  of small and big banks by national governments, and downturns in stock markets around the world. In United States, the housing market also suffered, resulting in  evictions,  foreclosures  and prolonged unemployment. The crisis played a significant role inRead MoreTheu.s. Housing Market And The U.s. Financial Crisis1448 Words   |  6 PagesS. housing market between 2007 and 2009, led to the biggest global financial crisis. The impact of this crisis extended over the world, and the economies of many countries were damaged. Kawai stated that: ‘The ongoing global crisis has had a profound impact on the Asia and Pacific region, particularly on its exports.’ (2009:1) There were a lot of factors which brought about the crisis. Due to limited space, this essay will look at the U.S. housing market and the U.S. financial system, and discussRead MoreHow Government Economic Policies Caused the Financial Crisis of 20081553 Words   |  7 PagesThe financial crisis in 2008 that led to a crisis in the banking sector, and which nearly led to a complete collapse of the economy globally, was not only caused by changes in the regulatory, regulation and legislation oversight, but also fiscal and monetary policies. Many believe that, expansion of excesses monetary and irresponsibility of some of the government agencies led to the crisis. According to reports by Taylor (2009), excesses monetary policies were the main cause of the 2008 financial

Epic of Beowulf Essay - A True Literary Epic - 1700 Words

Beowulf : A True Literary Epic The Adventures of Beowulf, a rousing Old English poem of man and monster, and perhaps the earliest European vernacular epic, is rightfully considered an epic for it possesses those features which characterize epic poetry. For example, in epic poetry the central character has heroic or superhuman qualities. In The Adventures of Beowulf, the main character, a Geat warrior named Beowulf, possesses such qualities: â€Å"He was the strongest of men alive in that day, mighty and noble.† Upon spotting Beowulf approaching, the sea-guard of the Danes says, â€Å"Never have I seen a greater man on earth†¦Ã¢â‚¬  King Hrothgar of the Danes says of Beowulf, â€Å"Seafarers who took gifts to the Geats say that he has the†¦show more content†¦Beowulf’s example of extreme heroism motivates others to extraordinary deeds: Wiglaf, seeing Beowulf’s strength compromised by the dragon’s fire, risks his life to aid Beowulf in his final battle. It is obvious that the hero possesses superhuman qualities. As critic Donald fry states in TheBeowulf Poet: â€Å"Beowulf is †¦ one set aprt from ordinary men by his size, nobility, and splendid appearance† (Fry 3). Secondly, the action of this poem, as with epic poetry generally, takes place on an immense scale. When Hrothgar decides to build a mead hall, it was â€Å"the greatest the world had ever seen, or even imagined,† with â€Å"tribes throughout the world† setting to work on that building. When Grendel attacks the first night, she â€Å"grabbed 30 warriors† and â€Å"returned the following night† for more. When Grendel’s Mother attacks, â€Å"countless warriors† are guarding the hall, yet she kills Hrothgar’s best warrior and escapes unharmed. In his pursuit of her, Beowulf swims underwater â€Å"a good part of a day before he found the bottom.† In the Geat land the dragon is guarding her cave 300 winters. Beowulf goes to face her 50 feet of flame and claw with 30 suits of battle in his arms. Looking at the man vs. monster conflicts in the poem, one sees that they represent or share in a transcending, immenseShow MoreRelatedBeowulf as Epic823 Words   |  4 PagesWhat makes an epic? Is Beowulf an epic? ï‚ · ï‚ · ï‚ · What is an epic poem, and how does it differ from other kinds of poetry or storytelling? How have epic poems traditionally been transmitted from generation to generation? How do tellers remember these long and complicated stories? According to Robert Harris’s Glossary of Literary Terms, he defines an epic as the following: Epic. An extended narrative poem recounting actions, travels, adventures, and heroic episodes and written in a high style (withRead MoreBeowulf, The Epic Hero1373 Words   |  6 Pages12, 2015 Beowulf, The Epic Hero In Anglo Saxon times, Beowulf is considered a well known epic hero. â€Å"Epic heroes are literary characters from ancient mythology and other stories, which were written down in the form of long, narrative epic poems. The hero is the main character, or protagonist of the poem†(Epic Hero: Definition, Characteristics Examples.). The epic hero usually battles for accomplishments to a set of tasks to complete important goals. Beowulf is described as an epic hero becauseRead More Is Beowulf an Heroic Elegy or an Epic Narrative? Essay4711 Words   |  19 PagesIs Beowulf   an Heroic Elegy or an Epic Narrative?      Ã‚  Ã‚   There is considerable debate as to whether the poem Beowulf is an epic narrative poem or an heroic elegy. Which is it. This essay intends to present both sides of the story.    Some great literary scholars think that the poem is an heroic elegy, celebrating the fantastic achievements of its great hero, and also expressing sorrow or lamentation for the hero’s unfortunate death. In â€Å"Beowulf: The Monsters and the Critics† Tolkien states:Read MoreCompare And Contrast Beowulf And Sir Gawain And The Green Knight761 Words   |  4 Pages Epic Heroes Across Medieval Culture In the literary works Beowulf and Sir Gawain and the Green Knight, an admirable warrior and knight are depicted. Although Sir Gawain and Beowulf both possess such characteristics as bravery and strength, readers can observe differences in other traits that make them heroes of their own time that is attributable to the societal mindset in which the poems were written. The goal of this essay is to compare and contrast how Beowulf, which was written in the earlyRead MoreThe Importance Of Heroism In Beowulf1073 Words   |  5 PagesBeowulf is a classic, epic story which theme focuses on good versus evil, â€Å"Beowulf is essentially a heathen poem† (Bodek) said F.A Blackburn because it consists of elements drawn from Anglo-Saxons culture before they were converted to Christians. It is tidily divided into three parts; The battle with Grendel, The battle with Grendel’s mother and the battle with the Dragon. The poem deals with Germanic forebears, the Danes, the Geats and th e Swedes. This story features a super-strong warrior BeowulfRead More Christian and Pagan Influence in Paradise Lost and Beowulf Essay4093 Words   |  17 PagesChristian and Pagan Influence in Paradise Lost and Beowulf  Ã‚     Ã‚  Ã‚   In Paradise Lost, Milton is adept at drawing from both Christian and pagan sources and integrating them in such a way that they reinforce one another (Abrams 1075). Of course it is a commonplace for critics to believe that Milton valued his Christian sources more highly than the pagan ones (Martindale 20); this is most likely due to the fact that he regarded the Christian sources as vessels of the truth. His classical allusionsRead MoreTrace the Development of English Lit During Any One Period...as Part of Your Discussion Highlight How Significant Events in the Influence the Writing...Additionally Show How Characteristics of the Genre the Writer Uses3085 Words   |  13 Pagesof Asia, Africa and Oceana. It is important for one to know both the origin of this powerful masterpiece known as the English Language and the importance of this literary period to the development of English literature. In attempting to do the aforementioned, the focus will be on the Anglo-Saxon pe ople, their society, culture, and literary work with a view towards highlighting the impact on the development of the English language and English literature. The Anglo-Saxon or Old English period goes fromRead MoreThe Epic of Beowulf is an Heroic Elegy Essay3261 Words   |  14 PagesBeowulf is an Heroic Elegy   Ã‚  Ã‚   There is considerable debate as to whether the poem Beowulf is an epic narrative poem or an heroic elegy, a poem celebrating the fantastic achievements of its great hero, and also expressing sorrow or lamentation for the hero’s unfortunate death. This essay intends to show that the poem is an heroic elegy.    In â€Å"Beowulf: The Monsters and the Critics† Tolkien states:      We must dismiss, of course, from mind the notion that Beowulf is a â€Å"narrativeRead MoreAmerican Literature11652 Words   |  47 Pagesphilosophical readers sense of idealism focus on the individual s inner feelings emphasis on the imagination over reason and intuition over facts urbanization versus nostalgia for nature burden of the Puritan past Genre/Style: ï‚ · ï‚ · ï‚ · ï‚ · ï‚ · ï‚ · literary tale character sketch slave narratives, political novels poetry transcendentalism Effect: ï‚ · ï‚ · ï‚ · helps instill proper gender behavior for men and women fuels the abolitionist movement allow people to re-imagine the American past HistoricalRead MoreClassification of Literature3483 Words   |  14 PagesCLASSIFICATIONs OF LITERATURE I. Divisions of Literature Literature Prose Poetry Fiction Nonfiction Dramatic Narrative Lyric Drama Short Story Novel Tale Fable Myth Legends Folktales Essay Biography Autobiography Diary History Chronicle News Anecdote Tragedy Comedy Opera Operetta Ballad Epic Metrical Tale Metrical Romance Ode Sonnet Song Elegy POINT OF COMPARISON | PROSE | POETRY | Form | Paragraph | Verse | Language | Words and rhythms of ordinary and everyday language | Metrical,

Assignment on To Kill a Mockingbird Essay Example For Students

Assignment on To Kill a Mockingbird Essay The novel To kill a Mockingbird by Harper Lee, is told in the first person, the readers are inside the head of a young child looking back at the events of her family life which took place over a period of two and a half years ago. In a way there are two narrators to the story, one being Scout as an innocent child and the other, her as a young woman who is learning new things and showing the contrast of how much her mind begins to change as she grows older. We are introduced to the narrative technique that will be used throughout the story; Scout is the narrator as well as a participant. Events are recounted through a childs eyes, however Scout is also describing the events in retrospect; we see the story evolve not only from the viewpoint of a child but also with the sight of maturity. Harper Lee portrays Scout in many different ways, them being, the things she does, the things she says and the things people say about her. Scout has many different roles and relationships in her life and its those things what makes her who she is. Scout is an innocent 6 year old; she loves Atticus Jem, although she has no memory of her mother, who she lost while she was very young; although she is so young and hasnt been to school long enough to learn much she is able to read; she uses her mouth to fight back when she thinks adults are wrong- this shows maturity and knowledge. Miss Maudies house catches on fire, as Jem and Scout watch, Boo, unnoticed by them, puts a blanket around Scout, Jem realises who has put it there and tells all to Atticus the events concerning Boo. At first Scout does not understand. Scout is a daughter; she copes with being the only girl amongst all boys; she learns how to swear from a young age which is complicating for Atticus; she asks Atticus difficult questions, she is very mischievous, she wants to write a letter to Dill using invisible ink. Scout has many relationships with different people, other than her immediate family; she has with Walter and Francis; Calpurnia misses her when she goes to school but still she disciplines her when she is bad; Aunt Alexandra Mrs Dubose think that she has been bought up very badly, being that Atticus is so open-minded and she is without a mother. Even though Scout is the narrator, she does not fully understand the implications of her conversations with Miss Maudie, she thinks that Miss Maudie is accusing Atticus of drinking whisky, Miss Maudies conversation with Miss Stephanie (Chapter 5, pgs50-51) is misunderstood. Scout as a minor is a very realistic character, we see her how she is, she is a innocent, yet clever six year old who knows what shes doing when she does it, she knows how to tell a person from just looking at them and shes often right. Whereas the older Scout is the same but to a different extent, she is more aware of things, and thinks before she acts, she has a humorous side to her which is shown at points through the novel.

The House on Mango Street Final Response Essay Example

The House on Mango Street: Final Response Essay The House on Mango Street wrote by Sandra Cisneros, that is part of a minority group (Chicana ).This is a book made by many vignettes and through the character of Esperanza, Cisneros expresses her feelings and thoughts. There are many important topics and themes discussed by Cisneros. For example Belonging vs. Displacement, the cycle of racism, sexual objectification of women, female sexuality as power, the restriction and subversion of traditional values. Probably the most important theme is belonging vs. displacement that is a major topic in the book. We see it throughout the whole book and makes us understand many things. Mainly the sense of lost identity is shown. Cisneros expresses her message very clearly in particular in four vignettes. The first vignette we see is â€Å" No Speak English â€Å" where we see mamacita very nostalgic of her home country. She is scared of English and will never go down the stairs. We understand her feeling in this passage: â€Å"Whatever reason whether she is fat or cant climb the stairs or is afraid of English ,she wont come down. she sits all day by the window and plays the Spanish radio show and sings all the homesick songs about her country in a voice that sounds like a seagull. Home. Home. Home is a house in a photograph, pink house, pink as hollyhocks with lots of startled light. The man paints the wall of the apartment pink, but its not the same, you know. She still sighs for her pink house, and then I think she cries. I would.† We will write a custom essay sample on The House on Mango Street: Final Response specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The House on Mango Street: Final Response specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The House on Mango Street: Final Response specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Another vignette that expresses the desire for another house and the feeling of not belonging there is seen in Bums in the Attic where we see Esperanza describing an idle house where she would like to go. Also in Alicia ; I Talking on Edna’s Steps shows the same feeling and desire. Esperanza doesn’t feel the house on mango street as her home, she is ashamed of it and doesn’t have a real house. She says it’s not her house. In the last vignette Cisneros reiterates on the fact that mango street is not Esperanza’s house, probably expressing what she in first person felt. We see this clearly in the passage : â€Å"But what I remember most is mango street , sad red house , the house I belong but do not belong to.† . Here she says that she is from mango street, because she lived there but she doesn’t feel it hers. She has a sense of displacement. I always knew that many immigrants or people that don’t live in their home country don’t feel as they are home, but through this book we can understand clearly what is their feelings and I was quite touched by this and made my view for some people to change. Unfortunately I had some type of prejudice for some people of different ethnic groups because I had in my head a stereotype of a type of people, but this book helped me overcome these prejudices and change idea. I now have great empathy for minority groups. I need to help them since I’m part of the majority.