Cause Of The 2008 Financial Crisis - 1754 Words

Causes of the 2008 financial crisis Financial crisis has been prevalent since time immemorial. The world’s economies have been continually hit by the same and the 2008 financial crisis is definitely not the last appearance. The financial sector involves complexity and contains one of the world’s largest players and has continually developed into large conglomerates sometimes too big to control. These financial organizations have developed products that have become hard to regulate and impose control on which has often led to their collapse. Major world governments and financial institutions, mostly the central banks have the responsibility to make sure that these organizations are operating both ethically and legally and within the bounds of the law. This is the institution of supervisory and regulatory roles to monitor them. Supervisory and regulatory structures have in the past failed to control the activities of these enormous companies dealing in financial solutions especially where these organizations have become larger than the country’s individual economies. The financial companies engage in risks too large for them to handle in a bid to generate more profits and when these ventures have gone haywire, these companies have sunk. Foster Magdoff (2009) wrote that the failure of the international financial markets in 2008 led to the World’s worst economic nightmare, with a dip in the market performance that led to the eventual failure of companies operating therein.Show MoreRelatedCauses of the 2008 Financial Crisis2661 Words   |  11 PagesCourse Title Date of Submission Causes of the 2008 Financial Crisis a) Financial crisis definition Financial crisis is defined as the financial meltdown, or in other terms as the credit crunch. A financial crisis is an economic incidence makes it hard to obtain and access the capital for use in investment. The economic crisis is an ongoing economic problem that was more pronounced in 2008 resulting in the liquidity in the global credit markets and its financial systems (Berlatsky 77). This meansRead MoreThe Causes of the 2008 Financial Crisis621 Words   |  2 PagesReason #1. The 2008 economic downturn was affected by the housing market and specifically the defaulted loan percentage. Davis (2008) claimed Most of the sub-prime loans have been made to borrowers with poor credit ratings, no down payment on the home financed, and/or no verification of income or assets (Alt-As). Close to 25% of sub-prime and Alt-As loans are in default. It seemed in the events leading up to the housing market crash were marred with irresponsible investors who took very littleRead MoreCauses for the Financial Crisis of 2008889 Words   |  4 PagesThe financial crisis in 2008 was been considered as the worst financial crisis since the Great Depression. One of the major reasons of the crisis was that banks in the States were given permission by the repeal of the Glass-Steagall legislation, which allowed banks to affiliate with insurance, real estate, security. The goal was to create financial firms â€Å"better equipped to compete in global financial markets†. With the firewall between commercial banks, which make loans and take deposits, and investmentRead MoreThe Causes and Consequences of the Financial Crisis of 20082496 Words   |  10 PagesEnglish Dossier Milà ©na Gandroz 2A Cycle ICM What are the causes and the consequences of the global financial crisis of 2008? SOMMAIRE INTRODUCTION 3 WHY IT HAPPENED? 4 1. Deregulation policy 4 2. Securitization of mortgages 4 HOW IT HAPPENED? 6 1. The subprime crisis 6 2. The financial crisis 6 WHAT ARE THE CONSEQUENCES? 7 1. In the financial sector 7 2. In the United States 8 3. Abroad 8 WHAT IS HAPPENING NOW? 8 1. Some things are changing 8 Read MoreCauses of the Financial Crisis of 2008-20091736 Words   |  7 PagesCauses of The Financial Crisis of 2007-2009 According to our financial textbook â€Å" Financial crises are major disruptions in financial markets characterized by sharp declines in asset prices and firm failures† (Mishkin and Eakins 2012). In August 2007, defaults in mortgage market for subprime borrowers sent a shudder through the financial markets, leading to the worst U.S financial crisis since the Great Depression. Alan Greenspan, chairman of the Fed, described the financial crisis as a â€Å"once-in-a-centuryRead MoreCauses Of 2008 Financial Crisis : Imprudent Mortgage Lending912 Words   |  4 PagesCauses of 2008 financial crisis: Imprudent mortgage lending In this essay, imprudent mortgage lending is considered as a main factor, which caused the 2008 financial crisis. It mainly discusses the cause of imprudent mortgage lending and regular changes. And at last, there are some suggestions proposed for mortgage lending’s future development. A famous global bank called Lehman Brothers nearly knocked down the international financial system in September 2008. It was an unexpected collapse, whichRead MoreThe 2007-2008 Financial Crisis: Causes, Impacts and the Need for New Regulations1563 Words   |  7 PagesTHE 2007-2008 FINANCIAL CRISIS: CAUSES, IMPACTS AND THE NEED FOR NEW REGULATIONS The initial cause of the financial turbulence is attributed to the U.S. sub-prime residential mortgage market. The sustained rise in asset prices, particularly house prices, on the back of excessively accommodative monetary policy and lax lending standards during 2002-2006, increased innovation in the new financial instruments, unusual low interest rates resulted in a large rise in mortgage credit to households; particularlyRead MoreDeregulation Is The Underlying Cause Of The 2007 / 08 Financial Crisis1382 Words   |  6 Pagesderivatives. The Financial crisis in 2007-2008 brought the massive hurt to everyone in the world. The worldwide financial problem affected thirty million people loosing their jobs and cause many countries getting close to go bankrupt (Peah, 2014). This is the global issue that everyone should be consider of. The purpose of this essay is to determine if the deregulation was the underlying cause of the 2007/08 financial crisis. The essay argues the deregulation was the underlying cause of the 2007/08Read MoreThe Financial And Political Systems Have Always Played1226 Words   |  5 PagesThe financial and political systems have always played a major role in stabilizing the society and ensuring a smooth transition between public policies and economic activities. Over the past decades, we’ve witnessed the global crisis of 2008, which costs â€Å"tens of millions of people their savings, their jobs, and their homes†. Interestingly, the root of the problem comes from the corruption of the financial industry and how the political figures respond to the crisis. This response paper correspondsRead MoreThe 2008 Financial Crisis Essay1326 Words   |  6 Pagesintroduction The 2008 financial crisis led to a sharp increase in mortgage foreclosures primarily subprime leading to a collapse in several mortgage lenders. Recurrent foreclosures and the harms of subprime mortgages were caused by loose lending practices, housing bubble, low interest rates and extreme risk taking (Zandi, 2008). Additionally, expert analysis on the 2008 financial crisis assert that the cause was also due to erroneous monetary policy moves and poor housing policies. The federal government

Social Psychology -Inter/Intra Group Dynamics - 1051 Words

Examine a social psychology experiment and show how it relates to current literature and research on inter-and/or intra-group dynamics Intergroup conflict One determinant of intergroup conflict is the desire on the part of group member to gain positive outcomes for themselves and for their group Competition can increase intergroup conflict Intergroup conflict exaggerated * results of in-group favourtism * favour own group over others intergroup conflict (created in summer camp) frequently begins with some form of realistic conflict Realistic conflict theory dates back to the beginning of the 20th century as one of the earliest of social psychological theories regarding prejudice and discrimination. Realistic†¦show more content†¦1978) And subordinate goals (Sherif and Sherif, 1969) * one way to maintain a positive social identity * SPENCER AND WOLFE (1996) Meta analyses of studies in ethnically mixed classrooms confirm the superiority of cooperative learning methods over individualistic orShow MoreRelatedComplexity Science And Systems Thinking4544 Words   |  19 Pagesworkings of the human brain, the onset of psychiatric illnesses, ecological systems, genetic selection, and the world economy. The application is prevalent in biology, mathematics, philosophy, medicine, neuroscience, sociology, anthropology, ecology, psychology, and philosophy, basically encompassing the realm of relationships rather than the distinction of academic discipline. Complexity emerged from general systems theory and cybernetics, and later included chaos theory and catastrophe theory as a meansRead MoreIntra Group and Intergroup Processes2069 Words   |  9 PagesTeams and work groups function in organizational and interdependent relationship settings. These organizational groups are interdependent as they function to fulfil the goals of the whole organiz ation. Groups rely on each other to gain valuable information necessary for their operation. In business, the marketing department may depend on the production to reach out for more market, whereas the production department may depend on the marketing to moderate in production. Intra group relationships takeRead MoreCritically Evaluate the Cognitive Theory of Stereotyping.3286 Words   |  14 PagesCritically evaluate the cognitive theory of stereotyping. B231: Social Interaction, Exam Paper 1998, Question 4. Graeme Gordon Stereotyping is a form of pre judgement that is as prevalent in todays society as it was 2000 years ago. It is a social attitude that has stood the test of time and received much attention by social psychologists and philosophers alike. Many approaches to, or theories of stereotyping have thus been raised. This essay evaluates the cognitive approach that categorisationRead MoreBSB124 Working in Business PORTFOLIO PART 11261 Words   |  6 Pagesdata-driven research.-The Big Five† (pages.uoregon.edu,n.d.) 3. The Big Five Dimensions of Personality Personality, by definition, â€Å"involve some change in the thought, feelings, and actions of an inidivual; all of these intra-individual changes seem to be mirrored by inter-individual differences in characteristics ways of thinking, feeling, and acting- differences that are summarised, at the broadest level, by the five factors†(McCrae John, 1992,p. 199). The Big Five Model examines the followingRead MoreA Study on the Mental Setup of the Working People in Managing Conflict Through Soft Skills with Special Reference to Gender2477 Words   |  10 Pagespeople, Gender, Soft Skills, Interpersonal Skill 1. Introduction Conflict According to Harigopal K. [1] Conflict is an inevitable part of human existence. Conflict occurs within an individual (intra-individual), between individuals (inter-individual), among and within groups of individuals (inter – and intra-group), and between societies and nations (macro level). Conflict is as old as human existence. Conflicts, at t he macro level, have destroyed societies and also have created them. InappropriatelyRead MoreWater Aerobics for Older Adults2415 Words   |  10 PagesGroup Proposal (1) The Group and type: (i) Water Aerobics for Older Adults: Water aerobics is an ideal exercise for elderly adults having limited physical mobility or adults for whom the rigours of traditional cardiovascular exercise causes muscle and joint pain. These adults can safely rely on water aerobics for maintaining an active lifestyle and physical fitness regardless of their age. (ii) The need for water aerobics among older adults: (i) Even though some level of resistance is givenRead MoreWhat a Non-State Actor Is in International Affairs Essay examples1857 Words   |  8 Pagesand academic policy, which can be normative or positive as it aims at formulating particular states’ policies. International relations deal with a diversity of fields such as law, anthropology, sociology geography, cultural studies, history and psychology. While doing so it’s quite important to consider different views of other nations owing to differing ideologies. Without doing so, a lot of resources are likely to be lost while trying to go about this process. Despite cooperating, it’s wise toRead MoreResearch Study- Factors Affecting Team Conflict and Performance in an Organization2612 Words   |  11 Pagesmaintain and develop the team performance and in such situations team will shatter. When task conflicts become prominent then its become difficult to take decisions (De Dreu Weingart, 2003). The research has showed the presence of both types in any group setting; but hes clear to explain that cognitive conflict is constructive, while affective conflict is destructive (Brockmann, 1996). To improve the quality of product or service or overall performance, many organizations have focuses on teamRead MoreKolb Learning Style Inventory7058 Words   |  29 Pagesequilibration of the dialectic processes of assimilating new experiences into existing concepts and accommodating existing concepts to new experience. 6. Learning is the process of creating knowledge. ELT proposes a constructivist theory of learning whereby social knowledge is created and recreated in the personal knowledge of the learner. This stands in contrast to the â€Å"transmission† model on which much current educational practice is based, where pre-existing ï ¬ xed ideas are transmitted to the learner. ELTRead MorePersonality and Cultures5274 Words   |  22 Pageseither mediators or moderators (Lytle et al. 1995). A Functional Definition of Culture Culture is a fuzzy concept. It has been examined at several levels of analysis, and described as many, sometimes conflicting constructs. Thus one may speak of group (family, team), organizational (IBM), ethnic (African-American), national (Japanese), or supra national (Western) culture. As a variable, culture can be either an internal variable (corporate culture), or an independent variable (external and contextual

Temporary Work Programs for Contractual- myassignmenthelp.com

Question: Discuss about theTemporary Work Programs for Contractualand Seasonal. Answer: Introduction Temporary work also called temporary employment is a situation where the hours of work have been made limited according to the needs of the organization. The temporary employees are sometimes referred to as freelance, contractual and seasonal (Pirani Salvini, 2015). Temporary workers work full time or part time depending on the requirements of the organization. The temporary jobs are for a very short time which is usually not more than a month which is the major disadvantage of these programs. Moreover, the uncertainty and lack of social inclusions and interactions with the permanent employers are the causes why most people avoid to work as temporary workers. Discussion Most of the organizations provide seasonal employment. The employees have to work during the peak period of the organization. The peak periods are often coincided with the summer holidays or with other holidays. This results in the large number of workers to remain jobless for the rest of the year. The temporary workers are mostly excluded and the permanent workers are not very eager to contact with them. This results in social exclusion and the workers feel alienated not only with the workplace but also with their selves (Gebel, 2013). The Seasonal Agricultural Workers (SAW) Program in Canada brings the workers from Mexico paying them nominal wages. The workers heave to for twice a year- once during the spring and again during the fall. If you want 100 Canadians, you have to hire 300, said Sikking. (Amuchastegui, 2018). There is much uncertainty in the temporary work programs. Though the temporary style of working provides flexible timing to the employees, many professionals feel uneasy to do this type of jobs. Moreover these works provide employment for a very short period of time. The employees are usually employed for not more than a month. Only few employing organizations provide employment for more than a month that might last not more than half a year round (Radjai et al., 2015). The workers associated with the SAW program heave to for twice a year- once during the spring and again during the fall. The workers are sent back to their home town at Mexico if they try to complaint against the farmers. The workers cannot return back to their homeland before expiry of half their tenure of work. In some cases when the workers return back, they have to pay back the airfare that the farmers have spend in order to bring them to Canada, which they are unable to pay. It is the most important and powerful cause that the workers do not quit their jobs. Its a tangible, positive example of what can happen when two parties agree to administer migration, given the need of one party for labour, and the need of the other party to provide jobs. Its a way to manage the phenomenon of migration without the risk associated with border crossing by indocumentados. (Amuchastegui, 2018). The permanent workers of an organization enjoy job security which the temporary workers normally lack. The contractual workers are not protected under the Employment Standards Act which the permanent workers enjoy. The contractual workers can terminated at any point of time as the organizations deems fit without providing any cause or notice. The workers might not get the payment he or she is supposed to get after the completion of his work at the organization. These workers cannot even complaint about the issues and risks he or she has to face in the organization and the employers while delivering his work (Yakimov Tavrizov, 2016). The farmers do not provide the workers the reasonable wages for their hard work. Even the government of Canada deduct a large sum of money in the form of taxes from the paycheques of the workers. The contractual workers migrating Canada do not receive the same privileges as the workers of Canada. To get certain social benefits, the workers have to be res ident of Canada. These contractual workers are not the residents of Canada and leave the country as soon as their work permits are expired. These workers are made to pay the EI premiums but do not receive the same. The workers have to return back to Mexico if they require any kind of health care facilities as they do not receive the same from their workplace at Canada. They promise things and dont deliver. Thats what he heard. (Amuchastegui, 2018). It can be suggested that the Seasonal Agricultural Workers (SAW) Program should provide equal EI to the residential workers of Canada and the Mexican workers who come to work in Canada. The medical conditions of the seasonal workers from Mexico should also be taken care of by the farmers. Many people consider the taking of the airfare by the farmers from the poor and hard working labours as unethical. Moreover, working for long hours leads to serious deterioration in the health conditions of the workers. It is the sole duty of the management of the program must look after the fact that the workers are not exploited for the benefits of the farmers. Conclusion Though the contractual work programs are advantageous for people, it has many disadvantages too. The main drawback of contractual work lies in the psychology of the workers. The workers feel that they are not worthy of doing permanent work and feel alienated and excluded from others. Besides, there is no job security and certainty regarding the working conditions and the tenure of the workers. Most of the time the contractual workers are exempted from the benefits received by the permanent workers. Hence, it can be concluded that the temporary working programs are disadvantageous than permanent work. References Amuchastegui, M. (2018).Maria Amuchastegui Farming It Out.Amuchastegui.com. Retrieved 21 April 2018, from https://www.amuchastegui.com/publications/farming-it-out/ Gebel, M. (2013). Is a temporary job better than unemployment? A cross-country comparison based on British, German, and Swiss panel data.Schmollers Jahrbuch,133(2), 143-155. Pirani, E., Salvini, S. (2015). Is temporary employment damaging to health? A longitudinal study on Italian workers.Social Science Medicine,124, 121-131. Radjai, T., Gaubert, J. P., Rahmani, L., Mekhilef, S. (2015). Experimental verification of PO MPPT algorithm with direct control based on Fuzzy logic control using CUK converter.International Transactions on Electrical Energy Systems,25(12), 3492-3508. Yakimov, A. S., Tavrizov, V. E. (2016). Licensing of Crude Hydrocarbons in Russiathe Current System, Its Problems and Disadvantages.GEORESURSY,18(1), 58-63.