How do the directors Franco Zeffirelli Essay

Both films are based around the original script by Shakespeare, yet both directors have adapted the script slightly too go with their version of the film â€Å"Romeo and Juliet. † Baz Luhrmann’s version of â€Å"Romeo and Juliet† begins with a shot of a television; this tells the viewers that the film is set in modern times, rather than Elizabethan England. The news reporter reads out the background history of the â€Å"ancient grudge. † Whilst she reads, the camera slowly zooms in, as this happens shots of newspapers and magazine headlines flash up creating the feeling that the fights between the two families affect the whole city whilst this is happening there is some operatic music in the background which is brought into the foreground, so that we get the impression the film is going to be about a fight between two families that end in tragedy. The screen blanks, and the film starts. The Montague boys are driving up a motorway in a bright yellow customised 4Ãâ€"4 in the background you can hear hip-hop music, this makes the Montague boys seem fun, peaceful and approachable. They pull into a petrol station where the Cauplet boys are introduced. You instantly feel that the Capulet boys are the opposite of the Montagues, because they are dressed in Mafia style clothes. The whole fight is sparked by one of the Montague boys biting their thumb at the Capulets. There are a lot of shots of just the actor’s eyes this is used to build up tension. In the background Spaghetti western music is playing this gives me the feeling there is going to be an old western style shoot out. Baz Lurhmann uses fast motion a few times this is to add a little bit of comedy in a serious moment in the film. Tybolt comes into the picture and stomps out a cigarette. The fight starts; most of the fight is in slow motion I think that it is used to make the fight look more dramatic. The operatic music starts again in the background creating the affect of violence and hate. The camera pans to one of the Montague boys who is running away through the traffic, and the two others speeding away in their car for their lives, you can hear the sounds of car horns which is then drowned out by the oncoming helicopter. The camera shot is then from the point of view of Captain Prince in the helicopter. This makes the two men on the floor look small and insignificant compared to the chief. Where as Zeffirelli’s version is a lot slower and easy going. The start of the film is of rolling hills at dawn, with Sir Lawrence Olivia’s voice and medieval style music in the background. The music is more romantic than Baz Lurhmann’s choice but they both work equally as well. The camera pans following a horse and cart along a walled city, this is to remind us it is set in Verona. In the background you can hear the hustle and bustle of the market town, the market is were we first see the Capulets talking to each other, in this version of the film the Capulets are portrayed as the rebellious ones, playing and joking around, the camera pans to the Montagues who are talking to a stall owner. The Capulets walk over to cause uproar, one of the Capulets bites his thumb and they have a confrontation. In the background there is silence and there are shots of the town folks standing watching them, you can hear one man say â€Å"look at them! † I think this is used to show how the villagers react to all the fighting. As the scuffle breaks up the Montague’s turn leave, one of their elder members is tripped over by the Capulets. The fight starts in the background the director has chosen to have screaming and the sound of people fleeing. The town bell rings in the foreground. My interpretation of this is that the bell is supposed to alert the Prince of Verona, and to tell the people to stay away from the market square. Benvolio is introduced with a crowd of Montagues behind him creating the feeling he is an important figure in the film. The fighting stops for a few moments then Tybalt says â€Å"Peace but I hate peace†¦ † Then the fighting continues, the noise of the brawl dominates for quite some time until the sound of trumpets echoes the town, the trumpets grow louder with the noise of hooves. The Prince arrives on a white horse with several trumpet players behind him. The Prince looks down on his unruly subjects. This makes the Prince look very powerful compared to the people on the ground, there is silence whilst the prince addresses the crowd this gives me the impression that the Montagues and Capulets respect the Prince’s authority over them.

The New Century Financial Corporation Finance Essay - Free Essay Example

Sample details Pages: 24 Words: 7122 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? In 2006, a boom in U.S. housing prices abruptly reverses course; between the fourth quarter of 2005 and the first quarter of 2006, median U.S. housing prices fall 3.3 percent. Don’t waste time! Our writers will create an original "The New Century Financial Corporation Finance Essay" essay for you Create order These declines accelerate in 2007. The downturn prompts a collapse of the U.S. subprime mortgage industry, which offered loans to individuals with poor credit or no cash for a down payment. More than twenty-five subprime lending firms declare bankruptcy in February and March 2007. The collapse rattles the Dow Jones Industrial Average, which on February 27 loses 416 points, or 3.3 percent, its biggest one-day point loss since 9/11. New Century Financial Corporation, the largest U.S. subprime lender, files for bankruptcy following a series of bankruptcies at smaller subprime lending firms. Analysts worry about the impact debt from subprime mortgages will have on the financial sector, which invested heavily in securitized debt from subprime loans. July 31 2007: Bear Sterns Hedge Funds Bear Stearns, one of the largest investment banks in the United States, announces two of its hedge funds have lost almost all of their investor capital and will file for bankruptcy. The bank previ ously attempted to use money from other parts of its operations to bail out the funds and halted redemptions, but the losses at the funds, which eclipsed 90 percent of original holdings, proved too large. This is one of the first signs of major problems in financial markets beyond the subprime loan industry. August 2007: Subprime woes go global Subprime mortgage problems go global as hedge funds and banks around the world reveal substantial holdings of mortgage-backed securities in their investment portfolios. Frances BNP Paribas announces on August 9 that it cannot value the assets held by three of its hedge funds. Other EU banks follow with similar announcements. The European Central Bank immediately steps in offering low-interest credit lines to these banks August 10 2007: Global Coordination With lending markets drying up around the world, central banks coordinate to inject liquidity into credit markets for the first time since 9/11. The U.S. Federal Reserve, the Eur opean Central Bank, and the Banks of Australia, Canada, and Japan all inject money. On August 15, Countrywide Financial, the largest mortgage lender in the United States, says foreclosures and mortgage delinquencies have risen to their highest levels since 2002. September 13 2007: Northern Rock Northern Rock, a British bank, requests emergency funds from Britains central bank. A run on deposits at Northern Rock ensues, with large lines forming outside bank branches. In February 2008, Northern Rock will be taken into state ownership. Sep 18 2007 : Fed Slashes Rate The U.S. Federal Reserve makes its first in a series of interest rate cuts, lowering the benchmark federal funds rate from 5.25 percent to 4.75 percent. By November 2008, the Fed will cut rates to 1 percent, as displayed on the adjoined chart. In December 2008, they will make another cut, lowering rates to between 0 percent and 0.25 percent. October 9 2007: Market Peak The Dow Jones Industrial Average, whi ch measures the combined stock values of the thirty largest companies in the United States, peaks at 14,164. By February 2009, the Dow will fall to just over 6,500. October 10 2007: Subprime mortgage plan Following a request from President George W. Bush, U.S. Treasury Secretary Henry Paulson and Secretary of Housing and Urban Development Alphonso Jackson unveil a plan called the Hope Now Alliance aimed at stemming a wave of foreclosures on U.S. subprime mortgages by freezing interest rates on some loans. The plan spotlights concerns that variable mortgages, which adjust from a low initial interest rate to higher interest rates over time, will gradually force more homeowners to default on their home mortgages. Critics eventually fault the plan for taking too long to implement and not going far enough to stabilize the subprime market. October 15-17 2007: Super SIV Plan A consortium of banks backed by the U.S. government announces plans for a $100 billion fund to buy and u nwind structured investment vehicles (SIVs), a complicated financial instrument bundling different forms of debt, including debt from subprime mortgages, into tradable securities. Citigroup, Bank of America, and JPMorgan Chase agree to form the fund, which will purchase and value existing SIVs, to help restore confidence in interbank lending markets. The plan crumbles, however, due to lack of demand for the mortgage-backed assets packaged in the SIVs and difficulties coordinating among participating banks. The Treasury abandons the idea on December 24. Jan 24 2008: Real Estate Fear The National Association of Realtors releases data for 2007 showing the largest single-year drop in U.S. home sales in twenty-five years, increasing fears that more Americans will default on mortgage debt and other forms of debt, adding to credit market problems. March 14 2008: Bear Sterns bailout Bear Stearns, one of the largest U.S. investment banks, announces major liquidity problems and is granted a twenty-eight-day emergency loan from the New York Federal Reserve Bank. Investors are fearful that the firms collapse could spark a collapse of the financial sector. Two days later, JPMorgan Chase buys Bear Stearns for $2 per share (later, it will increase its bid to $10 per share). The bank traded at a high of $172 per share about two months earlier. The collapse and sale of one of the most iconic institutions on Wall Street sparks broad fears about the future of the financial sector. March 31st 2008: Paulsons plan Treasury Secretary Henry Paulson proposes a broad overhaul of the U.S. financial system. The plan calls for the possible merger of two major regulatory bodies, the Securities and Exchange Commission and the Commodity Futures Trading Commission. It is also interpreted as giving additional powers to the U.S. Federal Reserve. Many of the long-term regulatory proposals from the plan remain under consideration. July 15 2008 Paulsons Bazooka Following th e collapse of IndyMac, a major Pasadena commercial bank, and with problems swirling around U.S. mortgage lenders Fannie Mae and Freddie Mac, Treasury Secretary Henry Paulson makes reference to his bazooka option. His comments lead many analysts to believe that the U.S. government will step in to stabilize any financial institution so large that its collapse poses systemic risks. September 7 2008: Government Interventions The U.S. government announces it will seize control of federal mortgage insurers Fannie Mae and Freddie Mac, in what is considered Washingtons most dramatic credit crisis intervention to date. The two firms are riddled by mortgage defaults, and federal regulators fear their collapse could lead to massive collateral damage for financial markets and the U.S. economy. September 15 2008: Lehman Collapses On September 15, Lehman Brothers, a major global investment bank and a fixture in the U.S. financial sector for more than 150 years, files for the largest b ankruptcy in U.S. history. The announcement spooks many investors who had assumed the U.S. Treasury would act to prevent a bank the size of Lehman from failing. On the same day, Bank of America announces a $50 billion purchase of the investment bank Merrill Lynch, reassuring investors of Merrills ability to cover its short-term debts and stave off bankruptcy. The following day, credit ratings agencies downgrade AIG, the largest insurer in the United States. On September 17, the U.S. Federal Reserve loans AIG $85 billion. Septemeber 19 2008: Rescue Plans Treasury Secretary Henry Paulson unveils a rescue plan dubbed the Troubled Assets Relief Program, or TARP. The plan aims to use $700 billion of U.S. taxpayer assets to stabilize markets. It also proposes a plan to buy troubled and difficult-to-value assets from the countrys largest financial firms, value them, and resell them, in the hopes of restoring confidence in credit markets. Later, on November 12, Paulson will abandon th e element of the plan aimed at buying toxic assets, focusing the remainder of the TARP assets on recapitalizing financial firms. September 21 2008: Goldman and Morgan convert status The two largest U.S. investment banks, Goldman Sachs and Morgan Stanley, announce they will convert to bank holding companies, exposing them to additional government regulation but also giving them access to more loans from the U.S. Federal Reserve. Combined with the collapse of Lehman Brothers and the sales of Bear Stearns and Merrill Lynch, the move marks the end of independent investment banks, symbols of Wall Streets success in the second half of the twentieth century. September 25-29, 2008: Bank Failures Washington Mutual is seized by the Federal Deposit Insurance Corporation (FDIC) and declares bankruptcy; the next day, the FDIC sells the banks assets to another bank, JPMorgan Chase. On September 29, another major U.S. bank, Wachovia, enters crisis takeover talks with Citigroup. Wachovi a is purchased in early October by Wells Fargo. October 01 -03 2008: Congress acts After the U.S. House of Representatives rejects Treasury Secretary Henry Paulsons $700 billion rescue package on September 29, the U.S. Senate approves revised legislation on October 1. As calls for quick action mount from business leaders, the media, and the U.S. public, the House passes the revised legislation on October 3. EU safeguards: October 02 2008 Ireland approves a guarantee of bank deposits, setting off criticism from EU partners of unfair competition and spurring moves by individual European countries to safeguard banks. October 06-07 2008: Fed Intervention With equity and credit markets both reeling, the U.S. Federal Reserve moves on October 6 to make an additional $900 billion of short-term lending available to banks. The next day, the Fed announces plans to lend approximately $1.3 trillion to companies outside the financial sector. Dow finishes worst week: October 10 2008 Amid spiralling financial concerns, the Dow Jones Industrial Average suffers t he worst week of losses in its history, dropping 22.1 percent. During the course of the week, the U.S. Federal Reserve intervenes in loan markets, extending aid both to banks and nonfinancial firms. The Danish government follows Ireland and guarantees bank deposits; BNP Paribas takes over Fortis, making it the largest bank in the Euro zone; and Iceland passes legislation to nationalize, merge, or force into bankruptcy failing banks. The central banks of the United States, the EU, Britain, China, Canada, Sweden, and Switzerland make coordinated interest rate cuts. G7 leaders coordinate October 08 2011 Finance ministers from the Group of Seven (G7), which includes Britain, Canada, France, Germany, Italy, Japan, and the United States, meet in Washington. They do not agree on a concrete plan to address the crisis, despite growing calls for a coordinated international response. Two days later, several European countries move to nationalize banks and increase liquidity. November 07 2008: Heavey US job losses The United States announces 240,000 jobs were lost in October 2008, the first in a series of announcements of heavy job losses that continues into 2009. By March 2009, U.S. unemployment will reach 8.5 percent, its highest level in over twenty-five years. November 14 2008: Finance Summit Leaders from the worlds Group of Twenty (G20) major economies gather in Washington for a summit billed by many as the second coming of the 1944 Bretton Woods conference. The leaders release a communique outlining plans for further meetings and calling for ambitious reforms to the global financial system. The leaders also make firm statements against trade protectionism, though most of the G20 member states will implement protectionist measures in the months following the summit. January 20 2009: Obamas Economic team Barack Obama succeeds George W. Bush to become the forty-fourth president of the United States. Obama promises to make addressing economic con cerns his top priority and pledges sweeping policy changes to address the crisis, saying only government can lead the United States out of its economic doldrums. He appoints former New York Federal Reserve Chair Timothy Geithner to head the U.S. Treasury and Christina Romer, a professor of economics at the University of California, Berkeley, as the chair of his Council of Economic Advisers. Jan 27 2009: Icelands government collapses A financial meltdown in Iceland, a country that had focused its economy heavily on the financial sector, leads the Icelandic government coalition to crumble. The collapse marks the first political casualty of the financial crisis. By the end of February, the governments of Belgium and Latvia also will collapse due in part to domestic financial turmoil. February 17 2009: Stimulus Spending Amid a wave of global spending on fiscal stimulus, President Barack Obama signs a $787 billion stimulus package into law. The bill aims to boost vital sector s of the U.S. economy, including energy and health care. It wins praise from some economists, who laud Obamas recognition of the urgency of the moment, but others criticize the bill for inefficiencies. Feb 25 2009: Early Moves Under Obama U.S. Treasury Secretary Timothy Geithner unveils the details of a plan for stress tests at big U.S. banks to determine the strength of their balance sheets. The move comes as part of Geithners Financial Stability Plan, which coordinates action among several U.S. regulators. Other parts of the plan include a Public-Private Investment Program, designed to facilitate private-sector investment in troubled assets, and the Term Asset-Backed Securities Lending Facility, or TALF, designed to free up credit to consumers and small businesses. March 18 2009: Quantitative easing The U.S. Federal Reserve announces it will buy an additional $750 billion in mortgage-backed securities and $300 billion in U.S. treasuriesa move known as quantitative easi ngto try to push long-term interest rates down and jumpstart economic activity. On November 3, 2010, the Fed announces it will initiate another round of QE by buying up $600 billion in long-term treasuries, to be completed by the end of June 2011. The Fed says it will also reinvest between $250 and $300 billion of proceeds from its mortgage-related holdings to buy other government bonds. April 02 2009: G20 Summit Following up on Group of Twenty meetings in Washington in November 2008, heads of state from twenty of the worlds leading economies meet in London. At the meetings, the G20 nations pledge to triple funding for the International Monetary Fund, as well as directing new money to trade financing. The leaders do not make any major statement on increasing global stimulus spending, a focus of the United States ahead of the meetings. Following a major push by France and Germany, the leaders do, however, announce their intention to crack down on tax havens and improve internat ional regulation of financial flows. June 17 2009: Financial Regulation Plan Having already moved to tighten regulation on specific aspects of financial markets, including the market for complex derivatives, Treasury Secretary Timothy Geithner and White House economic adviser Lawrence Summers introduce a sweeping proposal to reform the U.S. financial regulatory system. The plan calls for giving additional oversight powers to the U.S. Federal Reserve, aimed at better enabling the Fed to monitor systemic risk. The plan also calls for higher capital and liquidity requirements for banks, new reporting requirements for issuers of asset-backed securities, and the creation of a council of regulators aimed at coordinating among different existing regulators. September 25 2009: G 20 supplants G8 Nearly a year after the financial crisis began, G20 leaders meet again, in Pittsburgh. The meeting firmly establishes the G20 as the supreme coordinating body for global economic affairs, supplanting the G8. Leaders agree to at least a 5 percent shift in voting rights in the International Monetary Fund from developed countries to developing countries and that IMF leadership should be chosen based on merit rather than nationality. The G20 pledges to develop policies to prevent the re-emergence of unsustainable global financial flows, acknowledging the need to improve savings rates in high-deficit countries like the United States, while spurring consumer spending in high-surplus countries like China. October 26 2009: Greeces Debt problem spiral Greeces new government vows to overhaul its finances after announcing the 2009 budget deficit will be 12.7 percent of GDP, far in excess of the EUs 3 percent limit. Six weeks later, rating agency Fitch cuts Greeces sovereign debt rating to below A grade for the first time in ten years. Public sector riots erupt in Athens in response to EU demands for Greece to outline a strict deficit-reducing plan under threat of sanctio ns. November 26 2009: Dubai world Debt woes Dubai government-owned conglomerate Dubai World requests a six-month standstill on $26 billion in loan repayments, amid rising sovereign debt fears in Europe. The request draws global attention to Dubais tenuous financial position in the wake of a massive building boom. Nearly three weeks later, fellow emirate Abu Dhabi offers Dubai a $10 billion bailout to avoid a default and allow the investment company to negotiate a debt restructuring. Sovereign Debt Crisis Woes Standard Poors downgrades Greeces credit rating to junk, making the country the first eurozone member to lose investment-grade status. The cost of servicing Greeces short-term debt rises sharply. The next day it downgrades Spains rating because of poor growth prospects. German Chancellor Angela Merkel demands Greece toughen its proposed austerity measures before Germany will approve a joint EU-IMF rescue package. April 27 2010: Sovereign Debt Crisis spreads S tandard Poors downgrades Greeces credit rating to junk, making the country the first eurozone member to lose investment-grade status. The cost of servicing Greeces short-term debt rises sharply. The next day it downgrades Spains rating because of poor growth prospects. German Chancellor Angela Merkel demands Greece toughen its proposed austerity measures before Germany will approve a joint EU-IMF rescue package. May 2010: Greek Bailout and Creation of EFSF On May 2, the EU and IMF announce a $146 billion financial rescue package for Greece to address its sovereign debt crisis in exchange for the country enacting strict austerity measures. Less than two weeks later, the EU and IMF agree to create a temporary eurozone stability mechanismthe European Financial Stability Facilityworth $1 trillion. The move comes in conjunction with a decision by the European Central Bank to buy eurozone government bonds on the open market in an effort to provide an added safety net for the euro a rea. June 2010: G20 spending disagreements As the G20 convenes in Toronto, a disagreement appears to sharpen over economic recovery strategies. French President Nicolas Sarkozy and German Chancellor Angela Merkel send a letter to summit host Canadian Prime Minister Stephen Harper urging his support for fiscal tightening among G20 countries. U.S. President Barack Obama stresses the need for continued spending to support growth and warns that excessive government spending cuts could lead to renewed hardships and recession. In their closing statement, member countries agree to halve their annual deficits within three years and stabilize their overall debt by 2016. November 28 2010: Irish Bailout The EU and IMF agree to provide Ireland with a $114 billion rescue package. The fund will help Ireland to manage its sovereign debt and recapitalize its insolvent banking sector, after having been forced into debt as a result of insuring its banks against all losses at the peak of t he crisis in 2008. May 05 2011: Portuguese Bailout The EU and IMF agree to provide Portugal with a $116 billion rescue package. Portugals dependence on foreign debtdemonstrated by a current account deficit that was over 10 percent of GDP in 2009makes it susceptible to sovereign debt contagion. Credit rating agencies predict Portugals exposure to the debt crisis will become unsustainable, and investors agree, ultimately making it too prohibitive for the country to finance itself on global debt markets. July 21 2011: A second Greek bailout Mounting fears over sovereign debt contagion to Italy and Spain force an emergency eurozone summit, where EU and IMF officials agree to provide Greece with a second financial rescue package worth $156 billion. The plan calls for an additional $55 billion in contributions by private bondholders, which could lead to a Greek default. Eurozone leaders also agree to an expansion of the temporary European Financial Stability Facility, which wi ll now be authorized to buy eurozone bonds on secondary markets and to lend directlyat lower ratesto troubled countries before they lose access to market financing. August 07 2011: ECB Bond Buying The European Central Bank announces it will actively implement its Securities Market Program to buy up Spanish and Italian government debt. The moves come amid a worsening eurozone sovereign debt crisis and soaring yields on Spanish and Italian bonds. September 21 2011: Operation Twist The U.S. Federal Reserve announces a new measure to stimulate the beleaguered economyknown as Operation Twist, a Fed policy originally enacted in the 1960sby which it will sell $400 billion in short-term treasuries in exchange for longer-term bonds. The move is part of a continuing effort to keep long-term interest rates down and generate borrowing. The controversial plan provokes a backlash from Republican lawmakers. The Fed also faces internal dissent, as three regional bank presidents vote aga inst the policy. Regulation and Deregulation Gold Standard 1880 As the industrial revolution blossoms in the United States and Europe, the United States adopts the gold standard, making U.S. currency freely convertible into gold at a fixed price. Currency election 1896 Monetary policy becomes a defining issue in the 1896 U.S. presidential campaign. Republican candidate William McKinley runs on a platform calling for industrial growth and a continuation of the gold standard. Democrat William Jennings Bryan runs on a populist ticket calling for bimetallism, in which silver is freely exchangeable for the U.S. dollar. McKinley wins, though skepticism about the gold standard persists. Federal Reserve system created 1913 Following a financial panic in 1907, calls for banking and currency reform lead to the creation of the Federal Reserve System, in which a central government bank lends to regional banks. The primary purpose of the system is to increase financial liquidity and to give the U.S. government better control over its currency. Click here for more on the structure and functions of the U.S. Federal Reserve. The New Deal 1933 The onset of the Great Depression, following the stock market crash in 1929, prompts a series of regulations by the incoming administration of President Franklin D. Roosevelt. First, in April 1933, the United States government outlaws nearly all private ownership of gold and places significant limits on gold exports. One month later, the Securities Act of 1933 requires that any interstate sale of securities be registered with the federal government. In June 1933, the Glass-Steagall Act creates the Federal Deposit Insurance Corporation, which guarantees private bank accounts up to a certain value. The act also gives the Federal Reserve control over the interest rates at which it lends to banks and prevents banks from operating as either insurance companies or investment firms. In June 1934, the U.S. government creates the Securities and Exchange Commission, a body tasked broadly with regulating transactions of securities. Finally, in 1938, the Federal National Mortgage Association ( FNMA, or Fannie Mae) is created in order to improve liquidity in the U.S. mortgage market. New Accounting Standards 1936 New accounting Standards : 1936 The U.S. government forms the Committee on Accounting Procedure, the first major attempt to regularize business performance reporting procedures in the United States. The committee institutes a framework called Generally Accepted Accounting Principles to provide a common framework for financial accounting. The Committee on Accounting Procedure is often considered to have failed in its primary objectives, but it evolves into future bodiesthe Accounting Principles Board in 1959, and then the Financial Accounting Standards Board in 1973that broaden the scope of U.S. accounting regulation. Bretton woods 1944 Following two years of negotiations and half a decade of war, world leaders meet in Bretton Woods, New Hampshire, and draft the first framework intended to govern monetary relations among the worlds largest economies. The conference results in a system of fixed exchange rates, the creation of the World Bank and the International Monetary Fund, and plans for a third organizati on, aimed at governing world trade, that will eventually be founded as the General Agreement on Tariffs and Trade in 1947. Fannie Freddie 1968-70 In 1968, the Federal National Mortgage Association (FNMA, or Fannie Mae), which was created in the late 1930s to purchase and securitize U.S. mortgages, is privatized as a government-sponsored enterprise, a special designation for a private company created by Congress to serve a specific financial role. In 1970, the Federal Home Loan Mortgage Corporation (FHLMC, or Freddie Mac), is created to expand the secondary market for home mortgages and to compete with Fannie Mae. Nixon ends International gold standard 1971 Embroiled in the Vietnam War, the financing of which requires the U.S. to sell its currency abroad and prompts rising inflation, U.S. President Richard Nixon cancels the Bretton Woods system of monetary governance and ends the direct convertibility of the dollar to gold. The move, which includes temporary wage and pric e controls and an import surcharge, becomes known as the Nixon Shock, in part because it was made without consulting members of the international monetary system or the U.S. State Department. In December 1971, a group of ten countries signs what becomes known as the Smithsonian Agreement, pledging that they will allow their currencies to appreciate against the U.S. dollar. Credit Expands 1974 -77 The Equal Credit Opportunity Act, passed in 1974, makes it illegal for creditors to discriminate against loan applicants on the basis of race, gender, religion, ethnicity, marital status, or age. In so doing, it opens credit opportunities to a much larger group of Americans. One year later, the Securities and Exchange Commission establishes a regulation called the net capital rule, limiting broker and dealer leverage (the ratio of debt to capital) to 12-to-1 on their investments. In 1977, the Community Reinvestment Act requires banks and savings and loan organizations to make credit a vailable to low- income households. 1980-1982 Banking Deregulation In 1980, the Depository Institutions Deregulation and Monetary Control Act deregulates interest rates, allows bank mergers, and allows savings and loan institutions and credit unions to offer checking accounts. Two years later, the Garn-St.Germain Depository Institutions Act further deregulates the savings and loan industry by allowing it to offer a new kind of account, the money market deposit account, aimed at helping the industry better compete with money market mutual funds. 1983: Collateralized Debt The financial firms Salomon Brothers and First Boston create the first collateralized debt obligations (CDOs), tradable securities combining debt pooled from bonds, loans, mortgage-backed securities, and other assets. CDOs will figure prominently in the financial crisis of the late 2000s. Savings and loan crisis: 1986 In October, the United States passes the Tax Reform Act of 1986, an attempt to sim plify the income tax code and eliminate real estate tax shelters. The act has unintended consequences, however. It pops the real estate bubble that characterized the first half of the 1980s, and eventually catalyzes a crisis at savings and loan institutions (SLs) across the United States. Over seven hundred U.S. SLs fail between 1986 and 1991. The crisis does not subside until after the 1989 Financial Institutions Reform, Recovery, and Enforcement Act, which introduces new regulation of the savings and loan industry and creates the Resolution Trust Corp oration, a body tasked with unwinding the contracts of failed SLs. Basel 1988 Central bankers from the worlds largest economies publish a set of banking standards, focusing on establishing minimal capital requirements, that is eventually implemented in the United States, Canada, Japan, and ten European countries. It is followed, in 2004, by a broader accord called Basel II which attempts to set up more rigorous capital and risk management requirements. Pooled Credit proliferates 1992 Congress passes the Federal Housing Enterprises Financial Safety and Soundness Act, which requires government-sponsored enterprises Fannie Mae and Freddie Mac to devote a percentage of their lending to affordable housing. This leads to an increase in the overall number of loans being pooled and securitized. Two years later, JPMorgan introduces the first credit default swap (CDS), a credit derivative which can act as a kind of insurance against defaults for investors in credit. Over the next decade and a half, CDSs become the most widely traded credit derivative product globally. The CDS market proves a major source of systemic financial risk when major CDS-issuing firms, including AIG and Lehman Brothers, find themselves in financial trouble. Subprime market grows 1995-99 affordable-housing lending obligations for buying subprime securities, thus encouraging the proliferation of risky housing loans during the latt er half of the 1990s. In September 1999, government-sponsored enterprise Fannie Mae eases credit requirements to encourage banks to extend loans to people whose credit is not good enough to qualify them for conventional loans, further encouraging growth in the subprime lending industry. Bank and Credit Deregulation 1999 In November, the Gramm-Leach-Bliley Financial Services Modernization Act partially repeals the Glass-Steagall Act of 1933, allowing banks to operate other financial businesses such as insurance and investment brokerages. One year later, the Commodity Futures Modernization Act exempts credit default swaps and trading on electronic energy commodity markets from regulation. Greenspan cuts interest rates 2000 2001 Prompted by the bursting dotcom bubble and the resulting recession, and with policymakers fearing deflation, the U.S. Federal Reserve, led by Alan Greenspan, lowers its benchmark interest rate eleven times. Low interest rates lead to an easy-credit environment, encouraging lending practices that will prove to be unsustainable later in the decade. The resulting credit bubble plays a large role in the run-up to the financial crisis of 2008. Sarbanes-Oxley 2002 In response to a series of corporate governance and accounting scandals, Congress passes the Sarbanes-Oxley Act in an effort to improve government oversight of corporate accounting procedures and securities markets. Supporters argue this legislation succeeds in restoring confidence in U.S. securities markets, but critics say it places undue restrictions on U.S. corporations and puts them at a disadvantage internationally. Leverage restrictions lifted 2004 In April, the SEC changes the net capital rule, which had limited broker-dealers and investment banks to a 12-to-1 leverage (the ratio of debt to equity) on investments. The change allows firms with more than $5 billion in assets to leverage themselves an unlimited number of times. Qualifying firms at the time include Bear Stearns, Lehman Brothers, Merrill Lynch, Goldman Sachs, and Morgan Stanley. In the years that follow, these firms greatly increase the amount of leverage they employ, to a point where in 2007 they routinely use thirty times leverage on investments. None of the five firms survive the 2008 credit crisis intact as independent investment banks. Paulsons Regulatory Plan: 2008 Amid a rapidly unfolding financial crisis, Treasury Secretary Henry Paulson unveils a proposal for a sweeping overhaul of the U.S. financial regulatory system. Paulsons proposal calls for consolidation among the federal and state bodies tasked with supervising financial firms, including a merger of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The plan is also interpreted as giving additional powers to the U.S. Federal Reserve. Many of the long-term proposals from the plan are still under consideration as of early 2009. Beyond legislation, sever al financial events in 2008 work to change the financial regulatory order. In September, the U.S. government nationalizes the mortgage lenders Fannie Mae and Freddie Mac, leading to much more direct government oversight of the firms. Later that month, the investment banks Goldman Sachs and Morgan Stanley convert from private investment banks to bank holding companies, subjecting themselves to additional federal oversight in exchange for new loan opportunities. Obamas regulatory Plan 2009 Having already moved to tighten regulation on specific aspects of financial markets, including the market for complex derivatives, Treasury Secretary Timothy Geithner and White House economic adviser Lawrence Summers introduce a sweeping proposal to reform the U.S. financial regulatory system. The plan calls for giving additional oversight powers to the U.S. Federal Reserve, aimed at better enabling the Fed to monitor systemic risk. The plan also calls for higher capital and liquidity requirem ents for banks, new reporting requirements for issuers of asset-backed securities, and the creation of a council of regulators aimed at coordinating among different existing regulators. US Financial overhaul Dod Frank Wall Street reform President Barack Obama signs into law a financial reform bill giving the federal government new powers to regulate Wall Street and prevent financial crises. The bill includes creation of a Consumer Financial Protection Bureau and a Financial Services Oversight Council of existing regulators to monitor market stability. The Federal Deposit Insurance Corporation gains power to seize and dismantle troubled financial firms deemed too big to fail, and proprietary trading (when banks invest for their own profit) is banned. The bill also limits the scope of banks investments in hedge funds and private equity funds and requires most derivatives to be traded through public clearinghouses or exchanges. Capitalism in theory and practice 1776 : Wealth of Nations With war raging in North America as Britains colonies there fight for independence, a British economist named Adam Smith publishes the seminal text defending modern liberal economic theory, An Inquiry into the Nature and Causes of the Wealth of Nations. The book, which is often referred to simply as The Wealth of Nations, advocates free-market economies and promotes the idea that individuals pursuing their own economic self-interest can create unintended positive side effects for the overall economy. 1820: Industrial revolution The development of the Watt steam engine in the late eighteenth century spurs a wave of industrial development in Europe and the United States, which comes to be known as the Industrial Revolution. Major changes alter the face of agriculture, manufacturing, and transportation, and rewrite the economic status quo that had dominated Europe for centuries. 1846: Corn laws repealed Britain repeals its Corn Laws, a system of tariffs aimed at bolstering British competition against foreign imports. The move signals a shift away from British mercantilisma theory of trade that holds the global volume of trade is unchangeable and thus focuses on building a positive balance of trade with other nations. It marks a significant step toward increasing free trade internationally. 1848: Communist/Capitalist Divide With unrest erupting across Europe, the German philosophers Karl Marx and Friedrich Engels publish The Communist Manifesto, the founding work of communist economic and social theory; the same year, the British philosopher John Stuart Mill publishes The Principles of Political Economy, which will become the dominant textbook on economics through most of the remainder of the nineteenth century. These two works coincide with the rise of laissez-faire economics, which espouses limited government intervention in the economy and which takes hold particularly in Britain during the middle part of the 1800s . The growing popularity of The Economist, a British news publication founded in 1843 that advocates liberal economic theory, accompanies this tide. 1884 : Fabian Socialism An elite British intellectual group, founded in 1884 and calling itself the Fabian Society after the Roman general Fabius, promotes a strand of utopian socialism drawing from the ideas of Karl Marx but eschewing the violent revolutionary tactics of some of his followers. The group becomes known for its essays and literary works; its ranks include the prominent intellectuals Sidney and Beatrice Webb, George Bernard Shaw, H.G. Wells, and Virginia Woolf. The society promotes ideas such as the nationalization of property and the implementation of a minimum wage. Its followers figure prominently in the founding of the British Labour Party in 1900. 1913: Federal reserve System created Following a financial panic in 1907, calls for banking and currency reform lead to the creation of the Federal Reserve Syste m, in which a central government bank lends to regional banks. The primary purpose of the system is to increase financial liquidity and to give the U.S. government better control over its currency. Click here for more on the structure and functions of the U.S. Federal Reserve. 1917: Russian revolution With World War I raging across Europe, Bolsheviks seize power in a coup in Russia, giving power to Communist groups called soviets (councils), and eventually leading to the establishment of the Soviet Union in 1922. For the better part of the twentieth century, the Communist Soviet Union would stand as capitalisms main rival and a competing power base of economic ideology. Two years after the Russian Revolution, in 1919, the publication of the Fascist manifesto sets the stage for pockets of fascism to emerge in Europe. Fascism and communism duel for supremacy in Germanys Weimar Republic until National Socialism, or Nazism, comes to dominate with the rise of Adolf Hitler. 1922: State Corporatization The idea of corporatism, in which a ruling party mediates between civic groups that represent various economic or social interests, rises to prominence in the early 1920s with Benito Mussolinis ascendance as Italys prime minister. In the corporate economic model, alliances representing different industries and worker groups are part of the ruling mechanism of the state. Corporatist models are implemented in Italy, Spain, Germany, Japan, and other countries in the run-up to World War IIoften accompanied by a brand of authoritarian nationalism known as fascism. The model largely disappears following World War II, but authoritarian economies like China and Russia adopt elements of state corporatism in their post-Cold War models. 1935: Keynes Economic rethink Following the stock market crash of 1929, more than half a decade of economic depression, and a series of massive government interventions in the economy including new regulatory strictures implement ed by President Franklin Roosevelt, a reassessment of markets takes root. The British economist John Maynard Keynes comes to represent the new thinking, suggesting several changes to the status quo of economic thought. Among other points, Keynes argues that capitalism wont self-correct and will require ongoing government oversight. 1944: Brettenwoods Following two years of negotiations and half a decade of war, world leaders meet in Bretton Woods, New Hampshire, and draft the first framework intended to govern monetary relations among the worlds largest economies. The conference results in a system of fixed exchange rates, the creation of the World Bank and the International Monetary Fund, and plans for a third organization, aimed at governing world trade, that is eventually founded in 1947 as the General Agreement on Tariffs and Trade. 1949: Chinese revolution With the Chinese civil war that began in 1946 nearing its end, the Communist Party of China, led by Mao Zedong, seizes power in 1949. It implements a Communist government that alongside the Soviet Union will oppose U.S. capitalist ideology throughout much of the twentieth century. Within a decade, Mao breaks with Moscow, however, in part over doctrinal disputes relating to industrialization and collectivization of agriculture. 1956: Peak Oil A geophysicist named M. King Hubbert theorizes that the rate of oil production in any given geographical area tends to follow a bell-shaped curve. Hubbert correctly predicts that oil production in the United States will peak between 1965 and 1970, lending credence to theorists who use a similar model to predict the date at which oil production will peak on a global scalea theory which becomes known as peak oil. New fears over global oil production coincide with the formation in 1960 of the Organization of the Petroleum Exporting Countries, or OPEC, as a cartel bringing together many of the worlds leading oil producers. 1960: Competing economic t heories Following a period during which Keynesian economic theory reigned supreme, in part due to the work of the renowned economist Paul Samuelson, healthy economic times in the United States during the 1960s coincide with the rise of Milton Friedman, an economist who argues strongly in support of laissez-faire, libertarian economic principles that stand in contrast to the theories of John Maynard Keynes. Friedman also spreads the theory of monetarism, a school of economic thought in which the supply of money in an economy is used as the primary tool to affect the countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s rate of inflation. 1978: Socialism with Chinese characteristics Beginning in 1978, pragmatists within Chinas Communist party, led by Deng Xiaoping, spearhead a series of economic reforms aimed at generating economic surplus and modernizing the Chinese economy. These reforms are generally credited with lifting millions of Chinese out of poverty during the final decades of the twentieth c entury. Analysts in the West commonly characterize these reforms as part of a gradual Chinese shift toward a capitalist system, but Beijing rebuffs such claims, saying Chinese economic liberalization does not undermine the Marxist principles followed by the countrys government or the Chinese Communist Party itself. 1979: Stagflation and Deindustrialization Paul Volcker takes the helm at the U.S. Federal Reserve during a period of stagflationa combination of economic stagnation and inflation. Volcker implements the monetarism espoused by economist Milton Friedman as a counter inflation strategy, provoking a deep recession that accelerates the shift of the U.S. economy from manufacturing to services and lays the foundation for steady growth during the 1980s. 1981: Reganomics and the laffer curve Ronald Reagan assumes the U.S. presidency in 1981, preaching four pillars of economic policy that come to be called Reaganomics: reducing government spending; reducing marginal tax es on labor and income; reducing government regulation of the economy; and using monetary policy to keep inflation rates low. This theory of economics is bolstered by the Laffer curve, a concept popularized by the economist Arthur Laffer that argues increases in taxation rates do not necessarily increase overall tax revenue. 1991: Post Cold War globalization The collapse of the Soviet Union and the end of the Cold War function as enabling mechanisms, spurring a period of globalization and economic liberalization across many countries. This shift is exemplified in 1995 by the establishment of the World Trade Organization, an organization tasked with supervising and standardizing oversight of international trade and liberalizing the global trade agenda. The shift toward globalization comes with discontents, however. The vulnerabilities engendered by a more liberalized international financial network become clear during the second half of the 1990s, as financial crises break out in several emerging economies, including Mexico, several East Asian countries, Russia, and Brazil. The International Monetary Fund (IMF) makes emergency loans to many of these countries, but imposes political restrictions as a condition for the loans. The shock of these crises and irritation over the IMFs loan conditions changes the way affected countries think about reserve capital. Particularly in East Asia, countries build up large reserves of foreign currencies in an effort to stave off future crises and the need for future IMF loansa trend which exacerbates trade imbalances throughout the early 2000s. 1992 WTO The establishment of the European Union signals a period in which several groups of countries seek to integrate their economies with those of their neighbors through regional economic blocs. The European Union expands throughout the 1990s and 2000s. In 1993, the United States, Canada, and Mexico sign the North American Free Trade Agreement, or NAFTA, binding their e conomies much more comprehensively. Other blocs, including Mercosur in Latin America and ASEAN in Southeast Asia, seek to expand their influence over the course of the decade. The culmination of this trend is the establishment of the euro, a common currency adopted by a group of EU member states in 2002. 2000-2006 Deregulation as poilcy By the latter part of the 1990s, with the U.S. economy booming, dissenting opinion about the free markets ability to self-correct has faded. U.S. President George W. Bush presses an agenda, initiated by the Clinton administration, that encourages home ownership as a major economic priority. Interest rate cuts at the U.S. Federal Reserve, made in the wake of the dotcom bubble, encourage easy credit in the United States, eventually fueling a credit bubble. Meanwhile, in 2004 the U.S. Securities and Exchange Commission lifts a regulation limiting the extent to which major investment banks can leverage their investments. Increased borrowing, taken alongside U.S. spending on the wars in Iraq and Afghanistan, work together to balloon the U.S. budget deficit. Eventually, a bubble in the U.S. housing market bursts, bringing major problems for U.S. subprime lending outfits, sparking the 2007-08 financial crisis and leading to a broader rethink of when and how markets should be regulated.

The Effect Of Fast Food On Food Consumption - 957 Words

Influence of Fast Food Fast food consumption has increased markedly in past 20 years, especially for urban city people in developed countries (XXXXXX). A hypothesis was addressed that consumption of fast food is related to the prevalence of asthma and allergy. Wickens et al (2005) investigate varies fast food consumption and their correlations with asthma and other allergic symptoms. Data on fast-food consumption and food allergic symptoms in 1321 New Zealand school children were analysed statistically. Results found that consumption of hamburgers, takeaways and fizzy drinks show association with asthma symptoms and reactions after exercise, while consumption of juice, meat, fish, fresh vegetables and fruits did not. Having hamburgers, takeaways or fizzy drinks more than once a week would significantly increase the wheeze and asthma reaction possibilities. Mechanisms behind were not suggested by the research. The complex components in meat pattie in hamburger may provide a rich source of potential allergen s (XXXXXX). Results in other studies also gave similar conclusion that fast food show correlation with food allergy at least to some certain level. For the fact that the concept for fast food is too broad, it is difficult to blame the results on some specific components, hence more detailed studies on this factor is still needed. Influence of Food Processing More processed foods are available commercially nowadays (XXXXX). For processing purpose, fresh food materialsShow MoreRelatedAre We Taking It Too Far by Blaming Fast Food Restaurant for Obesity?1285 Words   |  6 PagesAre we taking it too far by blaming fast food restaurant for obesity? 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These include consumption of energy dense food, prenatal exposure to nicotine, and minimal physical activity. This research paper investigates the var ious causes of obesity and the role fast food restaurantsRead MoreUnderstanding The Impact Of Junk Food Essay1510 Words   |  7 PagesJunk Food INTRODUCTION Junk Food is that type of food which doesn’t contain nutritional value. It do not contain high level of calories and has little protein, vitamins and minerals. Such foods are also not good for health and has negative effects after consuming them. Why there is a More Demand of Junk Food? There are following reasons which shows that why people are attracted towards junk food:- â ¦  Preparation of junk food doesn’t take so much time and it is easy for consumption also.Read MoreFastfood1128 Words   |  5 PagesSimple Facts About Fast Food Nov 20, 2010 By Suzanne Robin Fast food restaurants, also known as quick service restaurants, sell food that can be quickly cooked, assembled and eaten. 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Essay on Women’s Role in Society Throughout the Years

Modernism is the term of deviating from the norm. In the early 1900s, modernism influenced women’s role in society by providing more opportunities, jobs, and role models for girls today, in society. In the 1920s-1940s, women were encouraged to step outside of the home and work, but on the other hand, women were also encouraged to be stay-at-home mothers. Women should stay at home if they have the ability to do so. However, women should not feel like they have to be isolated from the rest of the world with chores and children all day. In 1920, The 19th Amendment gave women the right to vote. The Equal Right Amendment, often referred as (ERA), was first introduced to Congress in 1923. The amendment should have equal rights, and provokes†¦show more content†¦The next year in 1932, Hattie Wyatt Caraway of Arkansas, became the first woman Women had more leaders to look up too, including their very own first lady, Eleanor Roosevelt, who was very supportive. She held her very own press conference, allowing only women reporters to attend. Eleanor was different from the previous first ladies. She spoke out during conventions and conferences. She portrayed herself as a true woman, who was worthy, like any man would have. Marian Anderson, a famous singer, gave a private concert at the White House for President Roosevelt. He was entertaining the famous King George VI and his Queen Elizabeth of Britain. During the war in the 1940s, an aggressive media campaign urged more than six million women into the workforce. It is astonishing seeing each year; there were better accomplishments that women were making. Many learned new techniques such as working in steel plants, shipyards, and lumber mills. Sports also became a new and admired era in this time. The famous â€Å"Rosie the Riveter†, â€Å"We Can Do It!† was a part of the governor campaign that brought women into the workplace during the war. 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Bombay Stock Exchange Free Essays

Bombay Stock Exchange – Wikipedia, th†¦ Coordinates: 18. 929681 °N 72. 833589 °E Bombay Stock Exchange From Wikipedia, the free encyclopedia The Bombay Stock Exchange (BSE) (Hindi or Marathi: Bombay Share Bazaar) (formerly, The Stock Exchange, Bombay) is the oldest stock exchange in Asia and largest number of listed companies in the world, with 4990 listed as of August 2010. We will write a custom essay sample on Bombay Stock Exchange or any similar topic only for you Order Now [2][3] It is located at Dalal Street, Mumbai, India. On Aug, 2010, the equity market capitalization of the companies listed on the BSE was US$1. 39 trillion, making it the 4th largest stock exchange in Asia and the 11th largest in the world. 4] With over 4,990 Indian companies listed over 7700 scrips on the stock exchange,[5] it has a significant trading volume. The BSE SENSEX (SENSitive indEX), also called the â€Å"BSE 30†, is a widely used market index in India and Asia. Though many other exchanges exist, BSE and the National Stock Exchange of India account for most of the trading in shares in India. Bombay Stock Exchange Contents 1 Hours of operation 2 History 3 Timeline 4 BSE indices 5 Sensex correlation with emerging market indices 6 Awards 7 See also 8 References 9 External links Type Stock Exchange Location Mumbai, India Coordinates 18. 29681 °N 72. 833589 °E Founded 1875 Owner Bombay Stock Exchange Limited Key people Madhu Kannan (CEO M D) Currency Indian rupee No. of listings 4,996 MarketCap US$1. 39 trillion (August 2010)[1] Volume US$980 billion (2006) Indexes BSE Sensex Website www. bseindia. com (http://www. bseindia. com/) Hours of operation Session Trading Session Timing 9:00 – 15:30 Beginning of the Day Session 8:00 – 9:00 †¦wikipedia. org/†¦/Bombay_Stock_Exch†¦ 1/6 9/27/2010 Bombay Stock Exchange – Wikipedia, th†¦ Position Transfer Session Closing Session Option Exercise Session Margin Session Query Session End of Day Session 5:30 – 15:50 15:50 – 16:05 16:05 – 16:35 16:35 – 16:50 16:50 – 17:35 17:30 The hours of operation for the BSE quoted above are stated in terms of the local time (i. e. GMT +5:30) in Mumbai (Bombay), India. BSE’s normal trading sessions are on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance. [6] History The Bombay Stock Exchange is the oldest exchange in Asia. It traces its history to the 1850s, when 4 Gujarati and 1 Parsi stockbroker would gather under banyan trees in front of Mumbai’s Town Hall. The location of these meetings changed many times, as the number of brokers constantly increased. The group eventually moved to Dalal Street in 1874 and in 1875 became an official organization known as ‘The Native Share ; Stock Brokers Association’. In 1956, the BSE became the first stock exchange to be recognized by the Indian Government under the Securities Contracts Regulation Act. The Bombay Stock Exchange developed the BSE Sensex in 1986, giving the BSE a means to measure overall performance of the exchange. In 2000 the BSE used this index to open its derivatives market, trading Sensex futures contracts. The development of Sensex options along with equity derivatives followed in 2001 and 2002, expanding the BSE’s trading platform. Historically an open outcry floor trading The Phiroze Jeejeebhoy exchange, the Bombay Stock Exchange switched to an electronic trading system Towers house the Bombay in 1995. It took the exchange only fifty days to make this transition. This Stock Exchange since 1980. automated, screen-based trading platform called BSE On-line trading (BOLT) currently has a capacity of 80 lakh orders per day. The BSE has also introduced the world’s first centralized exchange-based internet trading system, BSEWEBx. o. in to enable investors anywhere in the world to trade on the BSE platform. [7]. The BSE is currently housed in Phiroze Jeejeebhoy Towers at Dalal Street, Fort area. Timeline Following is the timeline on the rise and rise of the Sensex through Indian stock market history. 1830’s Business on corporate stocks and shares in Bank and Cotton presses started in Bombay. 1860-1865 Cotton price bubble as a result of the American Civil War 1870 – 90’s Sharp increase in share prices of jute industries followed by a boom in tea stocks and coal 1978-79 Base year of Sensex, defined to be 100. †¦wikipedia. rg/†¦/Bombay_Stock_Exch†¦ 2/6 9/27/2010 Bombay Stock Exchange – Wikipedia, th†¦ 1986 Sensex first compiled[8] using a market Capitalization-Weighted methodology for 30 component stocks representing well-established companies across key sectors. 30 October 2006 The Sensex on October 30, 2006 crossed the magical figure of 13,000 and closed at 13,024. 26 points, up 117. 45 points or 0. 9%. It took 135 days for the Sensex to move from 12,000 to 13,000 and 123 days to move from 12,500 to 13,000. 5 December 2006 The S ensex on December 5, 2006 crossed the 14,000-mark to touch 14,028 points. It took 36 days for the Sensex to move from 13,000 to the 14,000 mark. 6 July 2007 The Sensex on July 6, 2007 crossed the magical figure of 15,000 to touch 15,005 points in afternoon trade. It took seven months for the Sensex to move from 14,000 to 15,000 points. 19 September 2007 The Sensex scaled yet another milestone during early morning trade on September 19, 2007. Within minutes after trading began, the Sensex crossed 16,000, rising by 450 points from the previous close. The 30-share Bombay Stock Exchange’s sensitive index took 53 days to reach 16,000 from 15,000. Nifty also touched a new high at 4659, up 113 points. The Sensex finally ended with a gain of 654 points at 16,323. The NSE Nifty gained 186 points to close at 4,732. 26 September 2007 The Sensex scaled yet another height during early morning trade on September 26, 2007. Within minutes after trading began, the Sensex crossed the 17,000-mark . Some profit taking towards the end, saw the index slip into red to 16,887 – down 187 points from the day’s high. The Sensex ended with a gain of 22 points at 16,921. 9 October 2007 The BSE Sensex crossed the 18,000-mark on October 9, 2007. It took just 8 days to cross 18,000 points from the 17,000 mark. The index zoomed to a new all-time intra-day high of 18,327. It finally gained 789 points to close at an all-time high of 18,280. The market set several new records including the biggest single day gain of 789 points at close, as well as the largest intra-day gains of 993 points in absolute term backed by frenzied buying after the news of the UPA and Left meeting on October 22 put an end to the worries of an impending election. 15 October 2007 The Sensex crossed the 19,000-mark backed by revival of funds-based buying in blue chip stocks in metal, capital goods and refinery sectors. The index gained the last 1,000 points in just four trading days. The index touched a fresh all-time intra-day high of 19,096, and finally ended with a smart gain of 640 points at 19,059. The Nifty gained 242 points to close at 5,670. 29 October 2007 The Sensex crossed the 20,000 mark on the back of aggressive buying by funds ahead of the US Federal Reserve meeting. The index took only 10 trading days to gain 1,000 points after the index crossed the 19,000-mark on October 15. The major drivers of today’s rally were index heavyweights Larsen and Toubro, Reliance Industries, ICICI Bank, HDFC Bank and SBI among others. The 30-share index spurted in the last five minutes of trade to fly-past the crucial level and scaled a new intra-day peak at 20,024. 87 points before ending at its fresh closing high of 19,977. 67, a gain of 734. 50 points. The NSE Nifty rose to a record high 5,922. 50 points before ending at 5,905. 90, showing a hefty gain of 203. 60 points. 8 January 2008 The sensex peaks. It crossed the 21,000 mark in intra-day trading after 49 trading sessions. This was backed by high market confidence of increased FII investment and strong corporate results for the third quarter. However, it later fell back due to profit booking. †¦wikipedia. org/†¦/Bombay_Stock_Exch†¦ 3/6 9/27/2010 Bombay Stock Exchange – Wikipedia, th†¦ 13 June 2008 The sensex closed below 15,200 mark, Indian market suffer with major downfall from January 21, 2008 25 June 2008 The sensex touched an intra day low of 13,731 during the early trades, then pulled back and ended up at 14,220 amidst a negative sentiment generated on the Reserve Bank of India hiking CRR by 50 bps. FII outflow continued in this week. 2 July 2008 The sensex hit an intra day low of 12,822. 0 on July 2, 2008. This is the lowest that it has ever been in the past year. Six months ago, on January 10, 2008, the market had hit an all time high of 21206. 70. This is a bad time for the Indian markets, although Reliance and Infosys continue to lead the way with mostly positive results. Bloomberg lists them as the top two gainers for the Sensex, closely followed by ICICI Bank and ITC Ltd. 6 October 20 08 The sensex closed at 11801. 70 hitting the lowest in the past 2 years. 10 October 2008 The Sensex today closed at 10527,800. 1 points down from the previous day having seen an intraday fall of as large as 1063 points. Thus, this week turned out to be the week with largest percentage fall in the SenseX 18 May 2009 After the result of 15th Indian general election Sensex gained 2100. 79 points from the previous close of 12173. 42, a record one-day gain. In the opening trade itself the Sensex evinced a 15% gain over the previous close which led to a two-hour suspension in trading. After trading resumed, the Sensex surged again, leading to a full day suspension of trading. BSE indices For the premier stock exchange that pioneered the securities transaction business in India, over a century of experience is a proud achievement. A lot has changed since 1875 when 318 persons by paying a then princely amount of Re. 1, became members of what today is called Bombay Stock Exchange Limited (BSE). Over the decades, the stock market in the country has passed through good and bad periods. The journey in the 20th century has not been an easy one. Till the decade of eighties, there was no measure or scale that could precisely measure the various ups and downs in the Indian stock market. BSE, in 1986, came out with a Stock Index-SENSEX- that subsequently became the barometer of the Indian stock market. The launch of SENSEX in 1986 was later followed up in January 1989 by introduction of BSE National Index (Base: 1983-84 = 100). It comprised 100 stocks listed at five major stock exchanges in India Mumbai, Calcutta, Delhi, Ahmedabad and Madras. The BSE National Bombay Stock Exchange Index was renamed BSE-100 Index from October 14, 1996 and since then, it is being calculated taking into consideration only the prices of stocks listed at BSE. BSE launched the dollar-linked version of BSE-100 index on May 22, 2006. With a view to provide a better representation of the increasing number of listed companies, larger market capitalization and the new industry sectors, BSE launched on 27th May, 1994 two new index series viz. , the ‘BSE200’ and the ‘DOLLEX-200’. Since then, BSE has come a long way in attuning itself to the varied needs of †¦wikipedia. org/†¦/Bombay_Stock_Exch†¦ 4/6 9/27/2010 Bombay Stock Exchange – Wikipedia, th†¦ investors and market participants. In order to fulfill the need for still broader, segment-specific and sector-specific indices, BSE has continuously been increasing the range of its indices. BSE-500 Index and 5 sectoral indices were launched in 1999. In 2001, BSE launched BSE-PSU Index, DOLLEX-30 and the country’s first free-float based index – the BSE TECk Index. Over the years, BSE shifted all its indices to the free-float methodology (except BSE-PSU index). BSE disseminates information on the Price-Earnings Ratio, the Price to Book Value Ratio and the Dividend Yield Percentage on day-to-day basis of all its major indices. The values of all BSE indices are updated on real time basis during market hours and displayed through the BOLT system, BSE website and news wire agencies. All BSE Indices are reviewed periodically by the BSE Index Committee. This Committee which comprises eminent independent finance professionals frames the broad policy guidelines for the development and maintenance of all BSE indices. The BSE Index Cell carries out the day-to-day maintenance of all indices and conducts research on development of new indices. [9] Sensex correlation with emerging market indices Sensex is significantly correlated with the stock indices of other emerging markets[10][11] Awards The World Council of Corporate Governance has awarded the Golden Peacock Global CSR Award for BSE’s initiatives in Corporate Social Responsibility (CSR). The Annual Reports and Accounts of BSE for the year ended March 31, 2006 and March 31 2007 have been awarded the ICAI awards for excellence in financial reporting. The Human Resource Management at BSE has won the Asia – Pacific HRM awards for its efforts in employer branding through talent management at work, health management at work and excellence in HR through technology See also Phiroze Jeejeebhoy Towers Clause 49 National Stock Exchange of India Companies listed on the Bombay Stock Exchange List of South Asian stock exchanges References 1. ^ World-exchanges. org (http://www. world-exchanges. org) 2. ^ World-exchanges. org (http://www. world-exchanges. org) 3. ^ â€Å"BSE – Key statistics† (http://www. bseindia. com/about/st_key/list_cap_raised. asp) . Bseindia. com. http://www. bseindia. com/about/st_key/list_cap_raised. asp. Retrieved 2010-08-26. 4. ^ World Federation of Exchanges (2007) (http://www. world-exchanges. rg/publications/EQU1107. pdf) â€Å"World †¦wikipedia. org/†¦/Bombay_Stock_Exch†¦ 5/6 9/27/2010 Bombay Stock Exchange – Wikipedia, th†¦ 5. 6. 7. 8. 9. 10. 11. Federation of Exchanges (2007)† ^ BSE website, (http://www. bseindia. com/about/st_key/list_cap_raised. asp) â€Å"Listing and Capital Raised† ^ Market Hours, Bombay Stock Exchange via Wikinvest ^ â€Å"BSEIndia† (htt p://www. bseindia. com/about/tech. asp) . BSEIndia. http://www. bseindia. com/about/tech. asp. Retrieved 2010-07-28. ^ â€Å"BSEIndia† (http://www. bseindia. com/about/abindices/bse30. asp) . BSEIndia. 2003-09-01. http://www. bseindia. com/about/abindices/bse30. asp. Retrieved 2010-07-28. ^ â€Å"BSEIndia† (http://www. bseindia. com/about/abindices/preface. asp) . BSEIndia. http://www. bseindia. com/about/abindices/preface. asp. Retrieved 2010-08-26. ^ â€Å"BSE SENSEX Index Chart – Yahoo! Finance† (http://finance. yahoo. com/echarts? s=%5EBSESN#chart1:symbol=^bsesn;range=my;compare=^gspc+eww+ewy;indicator=volume;charttype=line;cros shair=on;ohlcvalues=0;logscale=on;source=undefined) . Finance. yahoo. com. http://finance. yahoo. com/echarts? =%5EBSESN#chart1:symbol=^bsesn;range=my;compare=^gspc+eww+ewy;indicator=volume;charttype=line;cros shair=on;ohlcvalues=0;logscale=on;source=undefined. Retrieved 2010-07-28. ^ http://www. reutersindia. net/ Asia Technical Analysis with Phil Smith External links Official website (http://www. bseindia. com/) BSE to launch Sensex Futures in US (http://birlaa. com/2008/04/04/bse-to-launch-sensex-futures-trading-inus/) The Evolution Of Indian Stock Market (http://shareskool. com/articles/ViewArticle. inf? article=The+Evolution+Of+Indian+Stock+Market;article_Id=1) Retrieved from â€Å"http://en. ikipedia. org/wiki/Bombay_Stock_Exchange† Categories: Bombay Stock Exchange | Companies established in 1875 | Stock exchanges in India | Stock exchanges in Asia | Companies based in Mumbai This page was last modified on 25 September 2010 at 00:14. Text is available under the Creative Commons Attribution-ShareAlike License; additional terms may apply. See Terms of Use for details. Wikipedia ® is a registered trademark of the Wikimedia Foundation, Inc. , a non-profit organization. †¦wikipedia. org/†¦/Bombay_Stock_Exch†¦ 6/6 How to cite Bombay Stock Exchange, Papers

Alice Pauls Determination in Womens Suffrage Example For Students

Alice Pauls Determination in Womens Suffrage It was January 11, 1885 and in Moorestown, New Jersey what I would call a rook in the chess game of women’s suffrage, was born. It’s hard to believe that such an overwhelming infatuation in equality could be so deeply immersed in a woman only twenty-seven years of age. However, when you know that this person is none other than Alice Paul, believing gets easier. It was the defiance caged up inside this fire-cracker of a woman that led her steadily through the great battle of womans suffrage. Growing up in a Quaker home with supportive parents encouraged Paul from an early age to challenge others’ beliefs when they differed from her own. An emphasis was also placed on acting with integrity. Paul never hesitated to do so and she followed her heart with a blind eye, wherever it would lead her. These were the building blocks that shaped a woman who shaped women’s suffrage. Paul traveled to England on a political apprenticeship. It was in England where she befriended a group of radicals, and there couldn’t have been a better time or place for such a friendship to take place. England was currently absorbed in its own battle with women’s suffrage, and this set off a spark in Paul that grew to ignite a fire when she vowed to herself to bring confrontational feminism to the United States. If anything were to set Paul aside from her fellow suffragists, it would be her strategies. The sheer audacity behind them! It’s as if her PhD. in Sociology gave her a key into the minds of her adversaries that allowed her to manipulate the movement through their unavoidable weaknesses. For instance, it is one thing to stage a picket, but Paul can twist and engineer one to substantially emphasize its effect. The day before President Woodrow Wilson’s inauguration she planned and staged marches of picketers to be held in front of the White House. It was she who step by step led the picketers in the marches. Progress, if anything, was Paul’s main agenda, and she was not one to linger in a place that would any less than catapult her towards her goal. For some time, Paul was a member of NAWSA (National American Women’s Suffrage Association), but she soon left it for being dissatisfied in its lack of aggression. As a result, she formed the National Women’s Party. The party was successful despite it’s unpopularity for antagonism in regards to NAWSA, but proved to be a more than adequate reinforcement for the association. Where NAWSA left off, the NWP continued its line of motion, like inertia that despite the friction, carries something onward until the end. Perseverance was the asset that created the effect behind her revolts. Important amendments that took origin from this movement are the Anthony Amendment, 19th Amendment, and the Equal Rights Amendment (ERA). Paul was a vital element in pressuring the ratification of those listed above, but even more so important in the fact that she was the one to first prepare and draft the ERA. While others believed the right to vote would in turn lead to equality between the sexes, Paul new better, and knew it well. Her fight was not over, and for distinguished success to be reached, one must give up something. It is a great compromise that lingers in this universe. Paul was not unscathed through her participation in women’s suffrage. It is through these consequences that she can be designated morally courageous. For the sole purpose of exhibiting her presence at her protests Paul faced arrest and harsh beatings. Through the time elapsed during one of her arrests in particular, Paul staged hunger strikes, and in turn lead others to do so. Restrained, those on strike had rubber tubes violently forced down their noses. It was in this fashion that the strikers ate for over a month. After her release, the intensity of the determination churning inside of Paul proved too much for those opposed to womans rights during the time. She was again arrested and held in solitary confinement on the psychiatric ward of a prison. What would seem a setback in her ability to fight grew to become immense in its impact on the movement. When the prison in which she was held received publicity for its bad conditions, Paul gained national sympathy. This, in turn , tipped over a domino in womans suffrage, and the movement received its sought recognition. .u08f677b3484a003a3b6b8c92d67a3dae , .u08f677b3484a003a3b6b8c92d67a3dae .postImageUrl , .u08f677b3484a003a3b6b8c92d67a3dae .centered-text-area { min-height: 80px; position: relative; } .u08f677b3484a003a3b6b8c92d67a3dae , .u08f677b3484a003a3b6b8c92d67a3dae:hover , .u08f677b3484a003a3b6b8c92d67a3dae:visited , .u08f677b3484a003a3b6b8c92d67a3dae:active { border:0!important; } .u08f677b3484a003a3b6b8c92d67a3dae .clearfix:after { content: ""; display: table; clear: both; } .u08f677b3484a003a3b6b8c92d67a3dae { 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; } .u08f677b3484a003a3b6b8c92d67a3dae:active , .u08f677b3484a003a3b6b8c92d67a3dae:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u08f677b3484a003a3b6b8c92d67a3dae .centered-text-area { width: 100%; position: relative ; } .u08f677b3484a003a3b6b8c92d67a3dae .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u08f677b3484a003a3b6b8c92d67a3dae .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u08f677b3484a003a3b6b8c92d67a3dae .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u08f677b3484a003a3b6b8c92d67a3dae:hover .ctaButton { background-color: #34495E!important; } .u08f677b3484a003a3b6b8c92d67a3dae .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u08f677b3484a003a3b6b8c92d67a3dae .u08f677b3484a003a3b6b8c92d67a3dae-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u08f677b3484a003a3b6b8c92d67a3dae:after { content: ""; display: block; clear: both; } READ: Women’s Suffrage Movement in America EssayPaul’s actions go to show that if there’s a will, there’s a way. I can adapt this lesson in my own life to overcome whatever obstacle I may face. She has taught me to persevere, and with this, I can turn my dreams into a reality. When your goal is possible but somehow keeps avoiding your grasp, Paul also demonstrated that it won’t hurt to get a little on the rough side. Through the lessons she has in objectively taught me, I know that any ordinary person can make a difference. Paul fought for sixty-five years to gain rights as an American woman, but she only lived to see half of her dream completed. If she could see our society now with the effect the ERA has had, I have no doubt she would be displaying a smile bigger than all of her efforts combined, victory shining eminently in her eyes. As a result of her work, Paul has passed on an obligation to every woman in America. We must strive to make the world a better place. Her legacy may present this as a daunting task, but it really isnt so. Our morals and values cant speak for themselves, and it is through us that they must be passed on and weaved through humanity. Contradicting a racial slur or even smiling at a stranger are simple ways we can address this obligation. Opportunities are everywhere; I know Ill take the next one. Works Cited Schnell, J. Christopher. Paul, Alice (1885-1977). DISCovering U.S. History. Online ed. Detroit: Gale, 2003. Student Resource Center Junior. Gale. Poudre High School. 18 Feb. 2011Â  . Keenan, Sheila. Scholastic Encyclopedia of Women in the United States. New York: Scholastic Reference, 2002. Print.

Millers Tale Essays - The Canterbury Tales, Anglo-Norman Literature

Miller's Tale Courtly Love in Chaucer and Marie de France In his The Miller's Tale Chaucer presents a side of the courtly love tradition never seen before. His characters are average middle class workers rather than elite nobility. There is an interesting comparison between the Miller's characters and those in two of Marie de France's lais that share very close plot lines. Instead of being idealized Chaucer's characters are gritty. Instead of being involved in courtly love there is some evidence that the relationship between Alison and Nicholas is one of lust. Chaucer's use of the lower class makes the absurdity of what they are doing stand out. In the lais of Marie de France, Guigemare and Yonec, are built on the same archetype which is the same as Chaucer's Miller's tale uses. Marie's lais can give provide a set of ground rules for this archetype. The two lais share several similar elements. They both contain the same three central characters, who possesses fundamental similarities, the same beg inning plot line and several of the same themes. The first character shared by the two lais is the story's villain, the aged husband. He is a powerful lord who is much older than his wife. Because he is conscious of this fact, he worries constantly that his wife will betray him, so he locks her up. He is both the least and most important figure in the story. He's important because without his presence and actions the story could never take place. But he has very little actual interaction with the other two more central characters. The husband in Yonec is never described as meeting either his wife or her lover. In Guigemare the husband, wife and Guigemare are only together when the two lovers are discovered. The figure of the beautiful, imprisoned wife is the second central character. She is the quintessential damsel in distress, beautiful, noble (and with the exception of her one true love) chaste. The third character is the valiant lover who rescues the unhappy and imprisoned damse l. In both Guigemare and Yonec this character is a knight, and like his lover, the damsel in distress, he is the stereotypical knight in shining armor. He is described as being afflicted by love, and says he will die without it. He will go to any extent for his true love. As with characters both Guigemare and Yonec share a similar plot line. The young wife is locked up by her jealous husband. Then by some magical means her lover is transported to her. After some protestation from the woman, and some wooing from the knight, the two become lovers, until they are discovered and separated. After this point the two plots diverge. Also central to both stories is the idea that these extra-marital affairs are not improper. In Guigemare, the lady's maid says to the knight: The man who wishes to love my lady must keep her constantly in his thoughts and, if you remain faithful to each other, the love between you will be right and proper. (pg. 49) Obviously fidelity is important, but not forced fidelity. Love is more important than marriage in these lais. It's also important to note the chastity of the lovers. There is no mention of contact between the imprisoned wives and their husbands. In Yonec the Lord of Caerwent takes his wife for the purpose of child bearing, but she is imprisoned for seven years before meeting her lover and no children are evidenced from the text. Guigemare has never been in love before he meets his true love. This gives the love and actions between the pairs seem even more pure, and also makes it seem to be less sinful. Love is a powerful force in both these stories. It is not only the driving force behind the character's actions, but it also causes them physical affliction. Marie de France writes in Guigemare: But love had now pierced him to the quick and his heart was greatly disturbed. For the lady wounded him so deeply he had completely forgotten his homeland. . .The knight remained alone, mournful and downcast. He did not yet realize the cau se, but at least he knew that, if