Financial Crisis and Lehman Brother Collapse Essay - 1

Financial Crisis and Lehman Brother Collapse - Essay Example To this end, the paper will critically evaluate all the factors responsible for the global financial crisis and identify whether there were factors that were only related to the financial sector or not. The paper will therefore conclude on whether the financial sector was solely responsible or not Financial Retail Products and the Profit Motive Prior to the financial crisis of 2007, it was believed that mass marketing of retail financial products in high income countries after the early 1980s was safe (Froud, Johal, Montgomerie, & Williams, 2010). This was a general belief that this constituted the democratization of finance and ownership in modern Capitalist society. This is because poor people and middle class persons who could not normally afford to own some kinds of properties could acquire properties through the acquisition of various financial products and services. The supporters of this school of thought believed that it was a shared framework that enabled all people in the society to own what they wanted to own. â€Å"Mainstream finance represented financial innovation in circular and technological terms as that which perfected the market.† (Engelen, Erturk, Froud, Leaver, & Williams, 2008, p. 4). This means that the growth of technology and the enhancement of the financial sector led to the growth and expansion of the debt systems and debt structures (Froud J. , Johal, Montgomerie, & Williams, 2009). This grew the trend of financial intermediation and created more financial retail products. However, this process gave way for the evils of exploitation by numerous financial intermediaries (Froud, Johal, Montgomerie, & Williams, 2010). This created a major problem that fed into the system of the credit crunch. â€Å"Empirical evidence of the United States shows that extension of credit and asset ownership in an unequal society is self defeating because it does not abolish the tyranny of

The Negatives and Downfalls of U.S Public Schools and Its System Research Paper

The Negatives and Downfalls of U.S Public Schools and Its System - Research Paper Example The current public school curriculum is fixed. The current curriculum is not addressing the problem of individual differences. No tow individuals are alike. Same way it is not necessary that needs of two children are the same. Current curriculum is providing same thing to all the children irrespective of the different tastes of children. For example, a child who hates mathematics, forced to learn mathematics. Same was a child who likes painting may not get the opportunity to learn more about painting in public schools. Instead of tying the children inside the classrooms, they should be allowed to come out of the class rooms and learn something from the nature. Ultimately, the workplace for a child will be the nature when he grows up. So, the training to tackle the challenges from the nature should be given at an early age itself. â€Å"The good news for parents is that public schools cannot charge tuition. The bad news is that public schools are complicated, often underfunded operat ions influenced by political winds and shortfalls†(Great schools staffs). Private schools raise funds through tuition fees, developmental activities and contributions from the alumni whereas public schools don’t have such channels of funding. Moreover, the funds allotted to public schools have been reduced considerably by the administration. â€Å"In a recent survey of school districts, 43% of respondents reported budget cuts of 10% or less for this academic year, and 21% reported cuts of 11 to 25%, according to the American Association of School Administrators (School budget cuts across the US projected for next academic year) One of the toughest blows and most shocking hypocrisies of the Bush education budget is his plan to entirely end the Perkins Loan Program,... This essay declares that the current public school curriculum is fixed. The current curriculum is not addressing the problem of individual differences. No tow individuals are alike. Same way it is not necessary that needs of two children are the same. Current curriculum is providing same thing to all the children irrespective of the different tastes of children. For example, a child who hates mathematics, forced to learn mathematics. Same was a child who likes painting may not get the opportunity to learn more about painting in public schools. Instead of tying the children inside the classrooms, they should be allowed to come out of the class rooms and learn something from the nature. Ultimately, the workplace for a child will be the nature when he grows up. So, the training to tackle the challenges from the nature should be given at an early age itself. This paper makes a conclusion that major problem which contributed to the downfall of public school system in America is the bigger class size. The class size will be bigger in public schools compared to private schools and therefore individualized attention cannot be guaranteed to students studying in such schools. Private schools have many options to raise funds whereas public schools have limited options for raising funds. Public school facilities depend heavily on the economy of the place of its operation and any fluctuations in local economy can adversely affect the public school system. The salaries of the teachers in public schools are cheaper when we compare it to the salaries obtained by the private schools.