Genetic Engineering and Our Food - Free Essay Example

Sample details Pages: 9 Words: 2683 Downloads: 1 Date added: 2019/02/14 Category Health Essay Level High school Tags: GMO Essay Did you like this example? Farmers are passionate about growing food to them its more than a job its a way of life filled with hard work and uncertainty one of the many tools growers use to reduce risk and help their farm succeed is GMOs. Some GMO seeds help plants defend themselves against certain harmful insects using these seeds allows farmers to spray insecticide less often. Some GMO seeds allow farmers to consider a range of farming methods like no-till under the right circumstances no-till helps prevent erosion conserves water and gives time back to farmers when drought occurs farmers can suffer huge crop loss some drought tolerant GMOs use water more efficiently. Don’t waste time! Our writers will create an original "Genetic Engineering and Our Food" essay for you Create order Consensus by the vast vast majority of scientists and medical professionals is that the GMOs that are currently available on the market have no health problems theyre any different than conventional foods so if you were to look at medical society scientific societies the consensus view from all of these is that there is no specific health risk associated with these genetically modified crops how do we know that GMOs are safe to eat whats the process we go through so GMOs are actually probably the most intensively studied new foods that we have introduced over the last 20 years they go through a lot of rigorous evaluation so the first thing is that these are essentially the same as the crop varieties that weve been growing for 50 100 200 years what has been done is that one or two genes have been added to these crops so we know that now there are one or two additional new proteins being made in these crops and so we can follow those proteins we can ask very specific questions these pr oteins toxic do they cause allergic reactions are they in any way dangerous or are they just the same as the vast majority of other proteins that we consume that get digested and then ingested and provide our food so the bottom line is that these have been very well studied we can never say that anything is absolutely safe we dont know that about any food okay but theres tremendous equivalence between whats being grown in the past and whats being grown now with these genetically modified crops by adding one or two genes one or two new proteins yes youre making a change but we know what those changes are and we can study what those changes might do to humans or other animals that consume these plants. So one reason is theres clearly different politics in different different parts of the world theres also different relationships with food in some places food is something that is revered very very highly and people have a different attitude about it and that may be part of the reason as well theres also differences in how the public regards the agencies the the regulatory agencies that lets say whether something is safe and or not and in some European countries the United Kingdom in particular there have been issues about how foods have been regulated whether theyre safe or not and and thats an important factor thats played into the differences between how Europeans and North Americans react to GMOs is it possible that there are long term health risks that we arent aware of that is a possibility yes absolutely I mean theres a theres there are we cannot know all of the risks that are associated with consuming anything okay and in fact I think thats one of the valid concerns that peop le raised about GMOs have we done long term feeding trials and the answer is no we havent but when we introduce any other new food we dont go through long term feeding Trials so when blueberries became a new crop that people started consuming we have 30 years of long-term feeding trials before we said theyre safe no we didnt but people are happily consuming that crop in at far higher levels than they ever did in the past so I think its its unrealistic and frankly unfair to suggest that these crops that have been modified in ways that we understand a tremendous amount of detail about that they should be expected to go through some unrealistic long-term feeding trial that we dont put other new foods through okay and so really you had mentioned something about allergens so how would GMOs affect food allergies could introduce new strain charge absolutely and in fact there there are a couple of examples in research where genes were moved into a plant in the laboratory and then they disco vered oh this protein thats being now made in this in this plan this has the potential to be an allergen of a protein that causes an allergic reaction and so it is possible but the organizations primarily the companies that are involved in doing this go to great lengths to make sure as best they can that they are not introducing a protein thats responsible for for alert that causes allergic reactions in people so for example I think its extremely unlikely that one of these companies would would take a lobster gene just to take it over you know mrs. Doubtfire or something of shrimp gene and that they know people have the potential to have allergic reactions to and put that into a food that everybody consumes and in fact theres actually the potential to remove allergens using genetic modification technology so allergens for the most part are proteins and so theres a possibility have not just a possibility a reality that we could remove some of those proteins to make something that peo ple are allergic to make it less allergic. There are no obvious health benefits that people get there are some products that have been in development for a long time one of those is whats called Golden Rice so this is a rice thats been genetically engineered to produce beta-carotene which humans can convert into vitamin A and thats an important new trigger so theres organizations the International Rice Research Institute is developing varieties that have this trait with the idea then that that will help prevent children especially for from becoming vitamin deficient and that leads to blindness and also to premature death but these products are not on the market at the moment theyre theyre still in development. Golden Rice has been in development for 15 years so whether it will get to the market or not I dont know there are some other traits that I think were likely to see in the near future things that will benefit consumers so one example is is a non browning Apple so the reason the brand that Apples brown when when they get cut is that there is an enzyme released well your ace biotechnologists to figure it out or we can switch off that gene that makes that protein and so when you cut into these apples they dont turn brown and so I can imagine that you can see pre packaged apples out there in the future pre sliced pre packaged apples just like theres little mini carrots people all right gobble them up itll be getting people to eat more veggies more fruits as a result so III think its also important to remember this technology is really in its infancy you know this is something weve been doing for 25-30 years and theres a lot more potential perhaps in the future for what well be able to do in terms of improving the health promoting properties of foods as a result of this and other technologies. Gene editing is a complex process but in concept is very simple you can think of our genome as an encyclopedia with books in it and paragraphs and sentences and gene editing is basically you acting as the sentence is written and youre going here you can change words you can change punctuation you can do nearly anything thats what a bio technologist does with our DNA just goes in there and rewrites it we can insert things remove things or add things and makes it work there when people talk about gene so what is CRISPR well CRISPR also connected with caste 9 is just a method of doing gene editing its like we used to edit manuscripts by whats called cut and paste with scissors and then we moved to using typewriters and with the white out and then we move to word processors well this is just a word processor and later something greater will come out technology moves at its light speed and next year youll be hearing something other than CRISPR 2 or right a totally different name its just a method of gene editing ok all right that makes sense and is gene editing happening right now in the United States. Oh Gina editing is happening everywhere in the world I mean its such an easy although it sounds complex was actually quite easily do and thats actually one of the concerns is that it is so easy to do you can do it almost for a science fair project so its being used by companies is being used by universities its very ubiquitous and where its going on ok so um what it what genes do we edit what might be an example of that well it depends upon the purpose we can literally edit any gene that we want so now you go in and you ask just like any business I need a new product or I want to solve a problem and you say well how can I solve that problem and under problems several problems in genetics that we have many years one example for instances horns in cattle horns are poses risk there theres dangers for for Bulls with horns and cows have horns theyll Gore you to cause injuries and deaths for handlers and also for its fellow cows you know they fight and so corns have to be removed by dehorn ing which is painful and nobody really wants to do it and its costly so we found we the scientists found the gene that causes horns and cattle theres theres a natural gene for whats called pulled its just not in all species so hosting which is a dairy cow doesnt have the polled gene so its cordless well they found the basically how to edit the gene to make it harmless and this was done last year and now we can have hosting born without horns and totally avoid that issue and as a result animal well-being and safety of handling animals is greatly improved and and one example theres many theres a lot of regulatory oversight over all biotechnology particularly in the United States where were looking at how the process more than the product so any any product any gene editing or any other way of making a genetically modified organism is under the if its an animal is under the purview of the FDA there from a drug agency so even before you start making a transgenic organism its the animal you have to apply to the FDA to do this research and if its a food animal you definitely have to worry about containment make sure its not eaten than everything until the FDA passes approval that its not a risk to our health and also that its not a risk to environment ok so you mentioned transgenic what is transgenic name actually well literally the word transgene means that were moving genes between species so a transgenic organism is the when were doing word editing or editing of the genome is literally moving genes from one species to another and because we might find a gem thats in one species that was really useful in another it just doesnt exist there yet so we can do that gene editing however can be also be used for editing within a species so you can have intra genic editing and we people tend to call those transgenic but theyre not really transgenic theyre theyre just editing within the genome so the technology can be used for definitely a wide range application and this ma y be a very simple question but helped me to understand this what is the difference between a GMO so genetically modified organism and then gene editing well are we interchangeable no theyre not interchangeable so a genetically modified organism basically means any any organism thats had its DNA modified in any way its not breeding per se because weve been breeding animals forever evolution works on genetic variations so you could you know call that genetic marker genetically modified organs by evolution so classical animal breeding has been occurring for it since the beginning of time but specifically if we go in and directly modify the DNA of any organism. Denys considered a genetically modified organism or we prefer to call it a genetically engineered organism okay and so gene editing is just one of the ways that you can get genetically modified oh yes gene editing is a very specific way prior to prior to gene editing we use things like micro injection where whereby we took whats called gene construct a word so to speak and we just injected it into the the embryo that they OD embryo and hope can prayed that somehow this gene got inserted someplace in the genome and that it would Express and so this is kind of random insertion you can imagine it had a lot of failures only about 1,000 work and we never knew where the trans gene was going to be inserted so gene editing gives us the way now of saying exactly where we want this gene insert so its a lot more exact and precise way of doing genetic engineering so Ive heard that gene editing is used not just in seeds and food but also in animals but also for health is that true we can we can u se gene editing for any any purpose there there are genes that you have birth defects you can theres a number of known diseases huntings Korea in several of these genes that were that we inherit that caused a lot of suffering and technically we could apply these same technologies to humans for addressing health issues and this is actually one of the things being looked at but now we enter into the realm of ethics is it ethical to modify genes in humans weve definitely done this in pigs for example where pigs were very susceptible to pers poor mine respiratory disease and theres no vaccine for it and theres no way of getting rid of the other than whats once your herd got purrs you had to euthanize all the animals disinfect the building and start over Wow yeah so now we can with gene editing we found out how to remove the receptor for the viruses virus causes this disease but all most viruses require whats called receptor place to land a place to attach to and so they knew what the th e the landing place looked like nascent the ring would of the landing placing but without any place to park the virus is simply said I cant infect this individual so now we have genetically modified pigs that dont get Perez disease but this is just one example that this actually might be the one of the first examples the word gene editing is going to move into production phase because theres already a pig breeding company that has this in the wings and is trying is seeking regulatory approval to produce animals that are resistant Spurs. References: https://ag.purdue.edu/GMOs/Pages/WhatareGMOs.aspx This source tells us about the most common misbeliefs of gmos like how https://www.piedmont.org/living-better/genetically-modified-foods-helpful-or-harmful https://monsanto.com/innovations/biotech-gmos/ (function() { var scribd = document.createElement("script"); scribd.type = "text/javascript"; scribd.async = true; scribd.src = "https://www.scribd.com/javascripts/embed_code/inject.js"; var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(scribd, s); })() https://environmentalscience.oxfordre.com/view/10.1093/acrefore/9780199389414.001.0001/acrefore-9780199389414-e-217 https://modernag.org/innovation/gmo-solutions-benefit-environment/ https://www.nature.com/articles/nbt.3680

Black Women Stereotypes - 763 Words

The stereotypical misrepresentations of African-American women and men in popular culture have influenced societal views of Blacks for centuries. The typical stereotypes about Black women range from the smiling, asexual and often obese Mammy to the promiscuous Jezebel who lures men with her sexual charms. However, the loud, smart mouthed, neck-rolling Black welfare mother is the popular image on reality television. The typical stereotype about Black men is the violent, misogynistic thug, and the ever-enduring pimp. These images portrayed in media and popular culture createpowerful ideology about race and gender, which affects daily experiences of Black women in America. With few healthy relationships portrayed in the media, Black women†¦show more content†¦In other words, the media culture has a salient effect in determining social norms. By presenting the edgy misogynist as the personification of black masculinity, the media sends out two messages. First, impressionable black adolescents, many of whom are surrounded by the violence and abuse glorified byShow MoreRelatedStereotypes And Stereotypes Of Black Women858 Words   |  4 PagesStereotypes are images and ideas, fixed and oversimplified, of particular people or things. Black women tend to encounter the utmost sexual and racial stereotypes. The remarks that I commonly hear are black women emasculate their men and are also sexually inhibited. Media and society have installed these stereotypes in a majority of our minds. Black women hear stereotypes very frequently and begin to believe in them. 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Today most stereotypes you hear are targeted to Black and Latina women. These stereotypes affect them in a negative way. There are multiple studies that show the way stereotypes affect the victim in various scenarios Stereotypes The way stereotypes started is not clearlyRead MoreStereotypes: Black Women vs. White Women in the Media983 Words   |  4 Pagesattitudes of Whites toward Blacks. White Americans, they show, learn about African Americans not through personal relationships, but through the images shown by the media. . In short, they conclude that although there are more images of African-Americans on television now than ever, these images are often harmful to the prospect of unity between the races. With the advancement of technology such as advertisement, there has always been a stereotypical view of how women are portrayed in the media.Read MoreAn Inside Look at Melissa Harris-Perry Essay1597 Words   |  7 Pagesmyths surrounding black women and the implication that correlate with these myths. Perry focuses on three main stereotypes of black women that began with slavery and are still prevalent in society today. Perry not only examines the depth and causes of these stereotypes, but she also scru tinizes their role in African Americans lives as citizens today. Black women today are not only separated from society outside of the African American community, but there are also existing stereotypes within the cultureRead MoreComm 3311707 Words   |  7 Pagesso many different stereotypes of black women, both positive and negative. The media plays a role in how black women are seen in society. A stereotype is a commonly held public belief about or types of individuals. The concepts of stereotype and prejudice are often confused with many other different meanings. Stereotypes can be about different age, racial or ethnic groups based on some prior assumptions. (J.F. Healey, Race, Ethnicity, Gender and Class pp33-35). The stereotypes seen in the mediaRead MoreStereotypical Black Women Essay1040 Words   |  5 Pageschild I would hear the term black queen. To my understanding a black women and a black queen are one in the same, but growing up the two words became different meanings . People began to change and no longer were they practicing their queen ways. People were now becoming ignorant and began following the crowd instead of being themselves, setting them apart as just black women. 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This negative representation invites bias from those who accept the images, the distortion of which is accentuated by both sexism and racism. Black women are the least represented group in cinema, making it easier to rely on stereotypes which encourage societal bias. From these stereotypes, like the Jezebel and Sapphire, stem the â€Å"real world† stereotypes of the welfare queen and the crackRead MoreIn The United States, Not Only Are Latin Women Being Misunderstood,1508 Words   |  7 PagesIn the United States, not only are Latin women being misunderstood, but African American women are also stereotyped by other people. Latin women are discriminated in their dressing and service occupations, while African American Americans are stereotyped in sexually promiscuous, caregiving role, and â€Å"welfare queens.† Both of them are victims of racial stereot ypes, which affect them negatively on their identities and characteristics. However, the differentiation of their cultures makes them being

Pharmaceutical Mathematics Administering Medication

Question: Discuss about the Pharmaceutical Mathematicsfor Administering Medication. Answer: Definition of Pharmaceutical Mathematics Pharmaceutical Mathematics is the application of measurement and calculation tools for preparing, prescribing and administering medication. The major mathematical approaches considered for application in the field of pharmacy are statistical analysis methods, quantitative analysis and algebraic equations. Pharmaceutical mathematics enables a pharmacist to measure the proportion of ingredient for contributing to a proper medication mix (Prasacu and Mircioiu 2013). History/ Introduction to Pharmaceutical Mathematics One of the most promising areas of study and research for the specialists in pharmacy is the calculations utilised in pharmaceutical sciences. An individual might be having a vast knowledge of pharmacy; however, if the individual does not have the knowledge of mathematical calculations, he is not able to apply the learnt knowledge of pharmaceuticals in practice. Accurately performed calculations in matters of pharmacy is a critical component in the delivery of optimal patient care in all environments of pharmacy practice. It is also the duty of all technicians to carry out this responsibility. Though pharmaceutical calculations are not exaggeratedly critical, they always warrant flawless accuracy. Proper calculations lead to better patient outcomes since the better methods for treatment and prevention can inform best attempts for optimising patient care. For efficiently preparing and dispensing medications, it is desirable that a professional has the ability to perform a wide range o f calculations that are useful int he process of formulating medicines while their production is being considered. One must be continually aware of the scenario of patient harm that is likely to happen if an error occurs in the dosage calculation. It is, therefore, crucial for professionals to have adequate knowledge of calculation methods and to apply them in practice. Learning pharmaceutical is a step-by-step process where one step is dependent to a large extent on another. A good foundation base is necessary to support all the gathered knowledge, which is usually based on a well-rounded understanding of basic mathematical calculations. Technicians are expected to have sound knowledge of basic calculations like addition, subtraction, multiplication and division, while emphasising on metric conversions and other similar forms of calculations. This is to include knowledge of a traditional weight system used by apothecaries known as the apothecary system as well as basic household measurements and weights. In a natural progression, the mathematic calculations that are commonly applied are Roman and Arabic Numerals, Fractions and Decimals, Ratios, proportions, and percentages (Rees, Smith and Watson 2015). Application of Pharmaceutical Maths Before 2010 Important characteristics of mathematics have overlapped with other major disciplines of science, including pharmaceutical. A large number of researchers have considered medicine to be a vital area where mathematics is to be applied. Mathematics is being constantly applied in the field of pharmacy for designing the alterations in the targeted therapies. The basic areas where pharmaceutical mathematics were applied before the year 2010 were temperature scale conversions, working with prescriptions, basic medication calculations, basic infusion calculations, calculations for billing compounds, pharmacy business maths and parenteral dosage calculations. Temperature scale conversions were applied for adjusting temperature since temperature is vital for storage of medications owing to the need of maintaining the stability of the medications. The two temperatures that are commonly referred to for this purpose are Fahrenheit and Celcius. Calculations were necessary for decoding the essentia l informations embedded in prescriptions. This was in regards to the communication of information on medication formulation, preparation, dosage regimen as well as administration of medication. The goal was to demystify the drug nomenclature. Basic concepts of mathematics were applied for calculation of dosages while administrating medications in capsule or tablet form and liquid form. Percentage of the strength of the medication of solutions were also carried out. Basic infusion calculations had been considered for dilution of stock solutions, infusion rates, calculation of dosages on the basis of the weight of the body of the patient and paediatric dosing. The ratio-proportion method had been widely used for this purpose. Previously, calculations were done for billing compounds that took into consideration cost of ingredients, dispensing fee and cost of time. Pharmacists were, as a result, able to take part in the financial aspects of pharmacy dispersal and exchange. Pharmacy business maths-enabled the pharmacists to cultivate the art of pharmacy and successfully take care of inventory receiving and purchasing at the time of turnover. Parenteral dosage calculations were done for the administration of medications through routes apart from the GI tract (Langley and Perrie 2014). Advancement of Pharmaceutical Maths Between 2010-2017 It is to be highlighted that pharmaceutical mathematics has witnessed the major transformation in the last seven years. Some drastic advancements have come into limelight within this period in the context of pharmaceutical mathematic that have contributed to prosperity in pharmaceutical science. As one of the most trusted professionals, it is expected at the present times that pharmacists dispense medications accurately by correctly carrying out pharmaceutical calculations. Applications of Mathematics in Industrial Pharmacy and Pharmacokinetics is found to have witnessed major developments in last one decade. Application of mathematics has evolved mainly in the field of institutional pharmacy. Institutional pharmacy refers to the practice of pharmacy for diagnosis and treatment of patients in long-term care facilities, family planning clinics, public health facilities, drug abuse treatment centers, convalescent homes, nursing homes, hospitals, rehabilitation centers, developmental di sability centers, extended care facilities, psychiatric centers, penal institutions, hospice, mental health facilities, and athletic facilities. With the application of mathematics, the technician in the contemporary world is able to handle a wide range of tasks from compounding of sterile products to chemotherapy and calculation of radioactive decay of an isotope used for application in stress tests. Pharmacist technician is making a remarkable improvement in delivering nutritional interventions to patients with diverse needs as they are now able to handle the application of micronutrients and macronutrients, precipitation concerns, calculation of calorie requirements for patients and determination of PN volume. Another area where pharmaceutical calculations are making developments is aliquot. An aliquot is the small amount of medication that is used for a variety of purposes. These include calculation of minimum measurable quantity (MMQ), calculation of desensitisation therapies a nd calculations of solids below the MMQ (Hyma 2017). References Hyma, P. 2017.Pharmaceutical mathematics with application to pharmacy. 1st ed. Langley, C. and Perrie, Y., 2014.Maths Skills for Pharmacy: Unlocking Pharmaceutical Calculations. Oxford University Press. Prasacu, I. and Mircioiu, C., 2013.Elements of Mathematics Applied in Pharmaceutical Sciences. " Carol Davila" University Press. Rees, J.A., Smith, I. and Watson, J., 2015.Introduction to pharmaceutical calculations. Pharmaceutical Press.

Nanotechnology is the engineering of functional sy Essays

Nanotechnology is the engineering of functional systems at the molecular scale. In its original sense, 'nanotechnology' refers to the projected to the INS AT fleet in orbit, including 24 C-band transponders, six extended C-band transponders, two S-band broadcast satellite service transponders and mobile satellite service transponders. The satellite beams commercial television signals to customers in India. Subsequently, an Ariane 5 rocket carried the Indian-built satellite INSAT-3A to space from Kourou on April 9, 2003. The 3,000-lb. satellite carried a communications, weather imaging, and search-and-rescue pay load. It measured about 9 by 6.5 by 6 ft., while its solar panels spanned about 43 ft. RESOURCESAT-1, launched on October 17, 2003, was the tenth satellite of ISRO in IRS series. It was intended to not only continue the remote sensing data services provided by IRS-1C and IRS-1D, both of which have far outlived their designed mission lives, but also to vastly enhance the data quality. Its mission life was five years. GSAT-3, well known as EDUSAT was launched on September 20, 2004. As the first dedicated Educational Satellite, it provided the country with satellite based two way communication to class room for delivering educational materials. This Geo-synchronous satellite was developed on I-2K bus and was co-located with METSAT and INSAT-3C at 74 degree East longitude. CARTOSAT-1, the first India Remote Sensing Satellite capable of providing in-orbit stereo images, was launched on May 5, 2005. The images are used for Cartographic applications meeting the global requirements. Cameras of this satellite have a resolution of 2.5m and can even distinguish a small car. The satellite provides stereo pairs required for generating Digital Elevation Models, Ortho Image products, and Value added products for various applications of Geographical Information System (GIS). INSAT-4A, the first in INSAT-4 Satellites series provides services in Ku and C-band frequency bands. The Ku transponders cover the Indian main land while C-band transponders cover an extended area. This spacecraft was placed at 83 dog Eat along with INSAT-2E and INSAT-3B, by Ariane launch vehicle (ARIANE-5V 169) on December 22, 2005. The life of this satellite is estimated to be twelve years. ISRO conducted a Space Capsule Recovery Experiment (SRE-1) to demonstrate the technology of an orbiting platform for performing experiments in microgravity conditions. SRE-1 mission provided a valuable experience in fields like navigation, guidance and control during the re-entry phase, hypersonic aero thermodynamic, development of reusable thermal protection system (TPS), recovery through deceleration The first Indian satellite to be put in space was Aryabhata, which dates back to April 19, 1975. It was followed by the launch of Bhaskara- I, an Earth observation satellite, on June 7, 1979. While these two satellites were launched form sites outside India, India launched its own satellite for the first time on July 18, 1980. It was the Rohini-1 satellite carried aloft on a Satellite Launch Vehicle (SLV) rocket from the Sriharikota Island launch site. Since then, India has invested a great deal of its space development work in complex applications satellites. India's two main interests are satellites for remote sensing and communications. These are used for weather pictures, disaster warnings and feeds to 552 television and 164 radio stations on the ground. By the end of 1985, the Rohini-3 communications satellite launched in August 1983 had extended nationwide television coverage from 20 percent to 70 percent of the population. Today it is about 90 percent. One of the satellites in India's Stretched Rohini Satellite Series, SROSS-C, was launched on an Augmented Satellite Launch Vehicle (ASLV) on May 20, 1992. It was India's first astrophysics observatory. The 235-lb. satellite had a gamma ray burst detector composed of high voltage scintillation detectors focused on the southern sky. Unfortunately, the satellite fell from orbit after only 55 days. Its replacement, SROSS- C2, was launched on May 4, 1994. One of India's Geosynchronous Satellite Launch Vehicle (GSLV) rockets blasted off on April 18, 2001, from the Sriharikota Island launch site placed a 1.5-ton experimental communications satellite called GSAT-1 into geosynchronous orbit 22,300 miles above Earth. GSAT- 1 was a communications satellite with digital audio, data and video broadcasting using two S-band, one high power C-band and two indigenous C-band transponders. On October 22, 2001 India launched its Technology Experiment Satellite

The Syrian Protests and American Intervention

The Syrian Protests and American Intervention It is now over one year since the Syrian protests, which kicked off in Dara’a, a small agricultural town in the country, begun. The Syrian police met the small uprising, which brought together a handful of people, with ruthlessness and brutality beyond the expectations of many people, thereby inciting more people to join the course.Advertising We will write a custom research paper sample on The Syrian Protests and American Intervention specifically for you for only $16.05 $11/page Learn More Today, barely all towns in the country have experienced violent protests against the long reigning president Bashar Assad and his family. According to the United Nation’s estimates, approximately 9000 people, most of them soldiers, have died in the violence that has continued to rock most parts of the country[1]. However, human rights groups and journalist put the estimates much higher at 30, 000 people by October 2012. They claim that government’s e fforts at hiding the real happenings in the country have led to a serious clamp down on any forms of journalistic access, thereby denying the international community any chance of getting up-to-date information on deaths, property destruction, and atrocities against women and the minority. As a result, the international community has treated Syrian case slightly to the disadvantage of the country’s innocent citizens, especially women and children who are subjected to heinous acts such as rape, torture, and forced labor. Therefore, Mr. President, if your government is to make any decisions based on the recommendations provided in this letter, I will be glad if you considered the possibility of worse things happening in Syrian beyond the grainy streaming media footages who may have watched, as they do not capture even half of what is happening on the ground. As a nation founded on sound democratic principles and respect for human life and dignity, we have been drawn into this m ess by our desire to give to the people of Syria, a democratic government, and an environment free from abuse, violence, and intimidations. So far, our attempts to institute a democratic government in Syrian and to end the suffering of the people have been futile. Worst still, the rebels who have been fighting the government are ill-equipped to make any significant process towards toppling the government[2]. Their activities have remained limited to Damascus. This calls for drastic measures. Our ultimate goals in Syria are driven by both morals and concerns for the suffering civilians. We need to defend the civilians against military abuse.Advertising Looking for research paper on international relations? Let's see if we can help you! Get your first paper with 15% OFF Learn More We need to assist in the creation of a democratically elected government that is representative of the people’s wishes. However, the process of instituting a democratic governm ent can never be easy. In most cases, it involves war and sanctions against doctorial regimes. Nevertheless, the Syrian people have spoken boldly of their desire for change, which makes any options available, regardless of the costs involved, worth pursuing. Additionally, we need to prevent Syria’s situation from dragging it into a failed and war-ridden state like Somalia. If this trend continues unchecked, then the nation could end up in a situation like that of Somalia. Finally yet importantly, we should strive to ensure that the country’s chemical weapons do not end up in the hands of extremist Islamic groups who are known for â€Å"terrorist activities† in the world today[3]. The United States of America suffered severely in the hands of terrorists and should not spare any efforts in fighting them.[4] The 9/11 attack has and will remain in the minds of many people who lost their loved ones for many years to come. In that single attack, the U.S lost millions of dollars and thousands of lives.[5] Given the circumstances surrounding the Syrian case, American intervention is in complete interest of the nation and its citizens. The U.S government’s principal interest is to protect its citizens. However, protecting Americans, does not only involve securing the country’s borders, but also toppling all governments that are sympathetic to terrorists and regimes that promote the use of chemicals and illegal atomic weapons. Bashar Assad’s government trades in these unfriendly territories and the U.S government should not sit back and watch from the sidelines as it furthers its monstrous activities. The people of Syria have a right to determine their own future since the country is a sovereign state[6]. However, its leadership has ignored the people’s plea for regime change, thereby necessitating external intervention. The U.S is perceived by many states as the international watchdog. Therefore, it should take a center stage in securing a solution for Syria’s problems. However, our intervention in Syria should be wise and well calculated. Considering Bashar Assad’s close association with the Iran and Russian regimes, any form of military intervention could worsen the bad situation[7]. The most viable option is the involvement of the UN Security Council to give a mandate on the issue. Our direct involvement should be through the provision of troops to secure civilian population from harm.Advertising We will write a custom research paper sample on The Syrian Protests and American Intervention specifically for you for only $16.05 $11/page Learn More Even though most Arab Nations are reluctant to join the Syrian debate, the U.S should try to reach out to them to seek their support in rescuing innocent civilians. The rebels fighting Bashar Assad’s government share many common interests with the United States. As such, the U.S should provide them with logis tics to enhance their chances of overthrowing the dictatorial regime. Currently, they are ill equipped and lack experience of fighting; hence, their chances of success are thin. The decisions we make today define us as a nation. The freedom our citizens enjoy today was earned by both sweet and blood. Therefore, by assisting the people of Syria, we are showing them away to a better life. By actively championing for a regime change in Syria, we will obviously be attracting more responsibilities to our great nation, but we cannot afford to sit back and watch innocent people die in the hands of merciless and selfish leaders. The minority and the weak always look up to us for help in such times, and we cannot afford to disappoint them. Our failure to intervene will be viewed as a sign of weakness, which might encourage other regimes to cling onto power against public will. After the invasion of Iraq in March 2003, the U.S. relationship with the Muslim world has not been good[8]. Therefor e, many of the Muslim states cannot welcome any form of intervention in Syria. Even though military intervention can absolutely spark wide opposition, many, especially civilians, could view humanitarian aid and provision of logistics as pure and sincere assistance. Our involvement in Syria should only end when the country has attained democratic leadership. Military personnel deployed to help civilians should however, stay behind for some time to assist in the transition process. Up to now, the atrocities committed against civilians in Syrian are intolerable, but the U.S must trade carefully. However, if death toll from the uprisings continue to rise and other nations, especially Muslim nations, keep their distance, then, the U.S may be left no other choice but to intervene with a fully-fledge military battalion. This could be more involving and costly, but worth the lives of innocent Syrians used as punching bags by government soldiers and rebels. Disregard for human lives by the S yrian government will leave us no options, but to pull together our resources, monetary, logistics, and personnel, to rescue the civilians. When it comes to such a level, the Security Council’s decisions will be of little effect to the U.S intervention in Syria. The cost of the war in Iraq has been expensive and we must avoid adding further expenses to our already burdened public. However, when it comes to saving lives, our options are limited.Advertising Looking for research paper on international relations? Let's see if we can help you! Get your first paper with 15% OFF Learn More Bowen, Jeremy. BBC News Syria rebels gain foothold in Damascus. BBC Homepage. N.p., 28 Jan. 2012. Web. Breakingnews.com. Syrian Violence Kills 36; Arab Leaders Back Peace Plan. VOA Voice of America English News VOA News. N.p., 28 Mar. 2012. Web. Celmer, Marc A.. Terrorism, U.S. strategy, and Reagan policies. New York: Greenwood Press, 1987. Print. Davies, Nicolas J.S.. Blood on our hands: the American invasion and destruction of Iraq. Version 1.0. ed. Ann Arbor: Nimble Books, LLC, 2010. Print. Goodarzi, Jubin M.. Syria and Iran: diplomatic alliance and power politics in the Middle East. London: Tauris Academic Studies, 2006. Print. Madu, Ifeanyi V.. Islamic Extremism and the West: Expounding the Negative Implications of the Clash Between Islamic Extremists and Some Western Nations. London: ProQuest, 2008. Print. Quigley, John B.. The statehood of Palestine: international law in the Middle East conflict. Cambridge: Cambridge University Press, 2010. Print. Sidhu, Surinder Singh. 9/11: The Inside Story. Washington, DC: Strategic Book Publishing, 2012. Print. Footnotes Breakingnews.com. Syrian Violence Kills 36; Arab Leaders Back Peace Plan.  VOA Voice of America English News VOA News. N.p., 28 Mar. 2012. Web. Bowen, Jeremy. BBC News Syria rebels gain foothold in Damascus.BBC Homepage. N.p., 28 Jan. 2012. Web. Ifeanyi Madu,  Islamic Extremism and the West: Expounding the Negative Implications of the Clash Between Islamic Extremists and Some Western Nations (London: ProQuest, 2008) 105. Celmer, Marc, Terrorism, U.S. strategy, and Reagan policies. New York: Greenwood Press, 1987. P. 47 Print. Surinder Singh Sidhu,   9/11: The Inside Story (Washington, DC: Strategic Book Publishing, 2012) 29. John B. Quigley,  The statehood of Palestine: international law in the Middle East conflict (Cambridge: Cambridge University Press, 2010) 45. Jubin M. Goodarzi,  Syria and Iran: diplomatic alliance and power politics in the Middle East, (London: Tauris Academ ic Studies, 2006) 11. Nicolas J.S. Davies,  Blood on our hands: the American invasion and destruction of Iraq (Version 1.0. ed. Ann Arbor: Nimble Books, LLC, 2010) 32.

Definition and Examples of Syntactic Ambiguity

Definition and Examples of Syntactic Ambiguity In English  grammar, syntactic ambiguity is  the presence of two or more possible meanings within a single sentence or sequence of words. Also called structural ambiguity or  grammatical ambiguity. Compare with lexical ambiguity  (the presence of two or more possible meanings within a single word). The intended meaning of a syntactically ambiguous sentence can often (but not always) be determined by context. Examples and Observations The professor said on Monday he would give an exam.The chicken is ready to eat.The burglar threatened the student with the knife.Visiting relatives can be boring.This morning I shot an elephant in my pajamas. How he got in my pajamas I dont know.(Groucho MarxA lady with a clipboard stopped me in the street the other day. She said, Can you spare a few minutes for cancer research? I said, All right, but were not going to get much done.(English comedian Jimmy CarrPlanes can go around the world, iPhones can do a zillion things, but humans have not invented a machine that can debone a cow or a chicken as efficiently as a human being, says Alan Alanis, a JPMorgan Chase (JPM) analyst.(Bryan Gruley and Lucia Kassai, Brazilian Meatpacker JBS Wrangles the U.S. Beef Industry. Bloomberg Businessweek, September 19, 2013) Types of Ambiguity We can crudely classify the sorts  of ambiguity found in sentences as follows: 1. Pure syntactic ambiguity:old men and womenFrench silk underwear2. Quasi-syntactic ambiguity:The astronaut entered the atmosphere again.a red pencil3. Lexico-syntactic ambiguity:We saw her duck.I saw the door open.4. Pure lexical ambiguity:He reached the bank.What is his position? The statement pure syntactic ambiguity is meant ambiguity in which the variant readings of a sentence involve identical lexical units; the ambiguity is thus necessarily a matter merely of the way the elements are grouped together.(D. A. Cruse, Lexical Semantics. Cambridge University Press, 1986 Using Speech Cues to Decipher Syntactic AmbiguitySome sentences are syntactically ambiguous at the global level, in which case the whole sentence has two or more possible interpretations. For example, They are cooking apples is ambiguous because it may or may not mean that apples are being cooked. . . .One of the ways in which listeners work out the syntactic or grammatical structure of spoken sentences is by using prosodic cues in the form of stress, intonation, and so on. For example, in the ambiguous sentence The old men and women sat on the bench, the women may or may not be old. If the women are not old, then the spoken duration of word men will be relatively long and the stressed syllable in women will have a steep rise in speech contour. Neither of these prosodic features will be present if the sentence means the women are old.(M. Eysenck and M. Keane, Cognitive Psychology. Taylor Francis, 2005 Ambiguous StructuresSyntactic ambiguity occurs when a sequence of words can be structured in alternative ways that are consistent with the syntax of the language. For instance, . . . [this word group] is ambiguous: (1) a. John told the woman that Bill was dating. . . . In 1a, that Bill was dating could either be a relative clause (as in John told the woman that Bill was dating a lie) or a sentence complement (as in John told the woman that Bill was dating a liar).(Patrizia Tabossi et al., Semantic Effects on Syntactic Ambiguity Resolution in Attention and Performance XV, ed. by C. Umilt. MIT Press, 1994)

Business Strategy Essay Example | Topics and Well Written Essays - 750 words - 5

Business Strategy - Essay Example Since these technologies are patented, they become a vital resource to Nintendo. Since for the current they are inimitable, they provide a competitive advantage to the company. A major weakness in Wii as described in the case is its poorer graphics as compared to those of its rivals—Xbox and Sony Playstation. This is due to the absence of high-definition video players that come with Wii’s two major competitors. Porter’s three generic strategies include overall cost leadership, differentiation and focus (Bartol 2001, 239). These three strategies require certain skills and resources as well as organizational requirements in order to be executed well. When a firm pursues overall cost leadership, the company should be ready to embrace efficiency as its objective, as reflected in its systems in order to maintain its position in the market as the player that maintains the most efficient cost systems. With lower costs, companies can offer lower prices to consumers without sacrificing too much of its profits, thus getting ahead of the competition especially in the market where price is the product’s attribute that is given the most weight when considering purchase. Differentiation on the other hand makes a company take a position in the market by offering unique products, thus gaining monopolistic powers over pricing and other considerations that are related to the product. By offering unique products, a company then can then charge higher margins because of the value of uniqueness. Focus, is a combination of the two strategies which caters to a smaller bit of the market rather than the whole. By segmenting the market and focusing on a small or niche segment, unique products can be offered while keeping tight controls on costs. I see Nintendo pursuing differentiation strategy with the Wii. Although it offers the lowest of prices among competitors, it does not compete on the basis of efficiency thus the integration of all

Construction Defects with Homeowners Case Study

Construction Defects with Homeowners - Case Study Example The third year and for up to the tenth, the major structural defects are covered including foundation walls, load-bearing portions, supporting beams and foundation footings. The homeowner should file for claim in the covered period, but may notify the local construction official for foundation damages that may or may no longer be covered by the warranty. The law covering construction of foundation is Title 5 Community Affairs Chapter 25 Regulations Governing New Home Warranties and Builders’ Registration or N.J.A.C. 5:25. Specifically, the Act â€Å"prescribe the form and coverage of the minimum warranty established by the Act; govern procedures for the implementation and processing of claims pursuant to the warranty; establish requirements for registration as a builder, and procedures governing the denial, revocation and suspension of builders registration; and, establish the requirements of private alternate. Adams (2010) cited many builder-contractor liabilities in the cas e where foundation issues occur among homeowners. Home building foundations usually last for tens or even hundreds of years when done properly. But â€Å"serious and difficult to fix [†¦] if built poorly [†¦and] threaten the stability of the home and the homeowner’s investment,† (Adams, 2010, P 1). One of the more critical issues about foundation problems is that it only becomes apparent after several years of completion and even occupancy of the home. The homeowner may be left unsure of what recourse may be available.

Three Year Degree Exception- Petition Letter Essay Example for Free

Three Year Degree Exception- Petition Letter Essay I am a diligent, hardworking student submitting this petition before you. I wish to pursue my Masters’ in Information Technology in the U.S. and I have the preliminary eligibility of a Bachelors’ from Osmania University in India. I have also a post graduate diploma that I obtained from a professional organization Comp-u-Serve.   Ã‚  Ã‚  Ã‚  Ã‚   In India, a student becomes eligible to apply for his Masters’ soon after he completes the three year rigorous curriculum at Bachelors’ and this is equivalent to the four year degree in the US. I was in the midst of a formal education from Vivekananda School of PG Studies which is a DOEACC – B Level Program,[ equivalent to Master’s In Computer applications on completion ] when I came to the US to take up employment at General Electric, since the prestigious offer was too good an opportunity to miss. I would have completed my Masters’ in India had it not been for the wonderful opportunity to come to the US and I request the authorities to consider the fact that I do have a Bachelors’ in Commerce from a University, a Diploma in Computer Applications and further formal education at Vivekananda School of Post Graduate Studies that gives me an additional 12 semester hours of credit as evaluated by CED Evaluations. The education system in India trains a student adequately to pursue a Masters’ after the three year duration of Bachelors’. The course curriculum and number of hours a student has to put in during his Bachelors’ are designed to suit this purpose. The student gets an all round thorough training in the Major he chooses and there are allied subjects that are given equal importance. Once a student gets his Bachelors’ he is sufficiently equipped to face the challenges in the course of his Masters’, because the three year degree course curriculum is intensive, and calls for an in depth study of the major chosen. It was this University degree of Commerce and the computer skills acquired in the course of my diploma that fetched me an excellent employment opportunity in the US. This stands testimony to the fact that the three year University degree given by an Indian University is as good as the four year degree that makes a student eligible for his Masters’ in the USA.Many deserving students who successfully complete their three year University degree get Campus placements and lucrative employment offers.   Ã‚     Ã‚  Ã‚  I became interested in the field of Finance in my High School which motivated me to get a University Degree in Commerce. However, market research showed a growing demand for computer products and services and hence I decided to pursue a business related to Computer products. Being a Commerce student I wanted to be exposed to Computer Applications first, and that is why I first chose to get a diploma at Comp-u-serve. My motive was to get a systematic training in Information Systems which would enable me to offer unique services and solutions to corporate houses. Hence I decided to take up a job as a Computer Professional to better understand the practical aspects of business. Later, I also joined a Master’s program in Computer Applications to enhance my technical knowledge to the fullest the following are the courses that I studied during my training at Vivekananda.1. IT Tools and Applications.2 Business Systems.3 Programming and Problem Solving through C Language .4 Computer Organisation.5 Structured System Analysis Design.   Ã‚  Ã‚  Ã‚   I passed three of these but I was forced to discontinue my studies because I had to come abroad.   Ã‚  Ã‚  Ã‚   .Now my unfinished education would get fulfillment only by getting admission into a Masters’ program in the US. The Bachelor’s of Commerce in my case is equivalent to Bachelor’s of Business Administration as evaluated by CED Evaluation. I have had good work experience in the field of Technology because I was a system administrator at Wintech Computers for two years, a Client Service Analyst for two years at GE and an IT Consultant for six years at Mascon Global Consulting.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Indian system offers a Bachelors’ [a University degree] after three years and that is why I had to take up the three year course. I do have a post graduate diploma in computer applications, a formal education in my regular post Graduate studies in Computer Applications for six months and sufficient related experience. I humbly request you to give weight to these facts and grant me an exception to the four year university degree policy as I have a three year degree. I am confident that I would be able to meet all demands in the course curriculum of my Masters’ in Information Systems., because I have the grounding as well as motivation to complete the course successfully. I have basic exposure to theoretical knowledge of computers, competent and relevant practical experience in the field, and a composite honing of skills and comprehensive knowledge in Computer Applications would only be provided by a Masters’ .I assure you of my eligibility to pursue this and request you to treat my three year University degree in India as the four year eligibility criteria of the US.

The French Revolution of 1789 Essay -- French History

There is no doubt that the French Revolution has had a profound effect on the world. The cause or causes of it have been greatly disputed. Clearly the Revolution's primary cause was the presence of a weak monarchy and a lack of a stable system of government. France's absolute monarchy had many changes toward the end of the eighteenth century. King Louis XVI, in his attempts to consolidate his authority and lessen the power of the aristocrats, had planned out an intendant system. The intendants were like governors. They would oversee one constituency of the country. These intendants could not govern the region in which they lived, and were chosen from other than the aristocracy. This insured that their allegiance was pledged to the king and not to their own region. This system caused great disturbances among the aristocrats who felt that the regions should rule them, which in fact, would take away the power from the monarchy. Unfortunately for King Louis XVI, this system had been corr upted by the time he had come to power. The intendants had been replaced by nobility and they had no loyalty to the monarchy. Everybody was trying to be more independent from the monarchy. The Parliaments, who before King Louis XVI had the right to bar the king's legislation, all changed when Louis XVI had made it illegal to veto. This had diminished any kind of check or balance system that had existed in France. This decision by Louis XVI made the Parliaments rebel against the King. Louis XVI, who had not been a very strong king to begin with, sat idle while the Parliaments reduced his power. France, who had been in great debt, could not raise taxes because the Parliaments would not pass it. Nothing was accomplished because the government could not ag... ...and the presence of a weak monarchy in Louis' XVI indecisive and half-hearted attempt at running the country, had caused the downfall of the French monarchy and an overhaul of the country itself. Works Cited 1. Hooker, Richard. (1999): n. pag. Web. 7 Jan 2011. . 2. Kreis, Steven. "The Origins of the French Revolution." (2006): n. pag. Web. 6 Jan 2011. . 3. "Liberty, Equality, and Fraternity." Exploring the French Revolution n. pag. Web. 6 Jan 2011. . 4. "The Social Causes of the French Revolution." n. pag. Web. 6 Jan 2011. . 5. n. pag. Web. 6 Jan 2011. .

Toulmin Model

Josh Jones ENG 133-040 Mrs. Wagnon 26 February 2013 Harassing Illegals Legally? In the article, â€Å"Special Licenses for Immigrants Draw Protests in North Carolina,† by David Zucchino, he tells a story of a fight over driver's licenses for illegal immigrants in North Carolina. The key issue with the license is that it has a pink stripe running across the top of the card, and a phrase saying â€Å"No Lawful Status,† as well as a restriction on the back reiterating the same fact.Many people, including the author based on his biased sources, are opposed to this label and say that it is discriminatory and will provide a stigma to immigrants with this license. Supporting evidence is shown through a various number of sources, mainly the illegal immigrants themselves. These immigrants are protected under the deferred action program, which provides work permits and defers deportation for two years for immigrants brought into the country as children.One immigrant, Cinthia Marr oquin, who is a coordinator for an advocacy group, asks, â€Å"why make it so discriminatory,† and then says that they are trying to â€Å"out [illegal immigrants]. † The American Civil Liberties Union of North Carolina (ACLU) says that it is â€Å"unnecessary† and could â€Å"lead to harassment†¦ and racial profiling. † The Latin American Coalition in Charlotte says that it â€Å"would create a class of ‘inferior’ citizens,† considering that over 15,000 deferred-action applicants have been approved in North Carolina. The warrants coming with the claim are both explicit and implied.When you look at the big picture, knowing how society reacts to labels, this label would invoke a negative stigma on anyone using or showing this card in public. The backing for this follows suit with all of the support. Other immigrants are opposing it, saying that they won’t be able to make purchases with checks, order a beer or get on an airpl ane using this as a form of ID. Even though Republicans typically are opposed to any issue favoring immigrants, Zucchino seems to put a spin on their legislature. The Red North Carolina legislature has temporarily suspended the bill in order to give time for legislators to block or limit the license.Zucchino words this fact in a way to make it seem that even the very legislators that run this country, do not want this license to come to fruition for the same reasons as the immigrants themselves. A brief rebuttal comes in the form of a statement from a spokeswoman from the NC Department of Transportation. She claims that the design of the license stemmed from the state attorney general’s opinion. From there, the idea went through weeks of talks with federal and state agencies, and even advocacy groups. She says that this is all about the â€Å"individuals [being] able to get their driver’s licenses. † Toulmin Model Josh Jones ENG 133-040 Mrs. Wagnon 26 February 2013 Harassing Illegals Legally? In the article, â€Å"Special Licenses for Immigrants Draw Protests in North Carolina,† by David Zucchino, he tells a story of a fight over driver's licenses for illegal immigrants in North Carolina. The key issue with the license is that it has a pink stripe running across the top of the card, and a phrase saying â€Å"No Lawful Status,† as well as a restriction on the back reiterating the same fact.Many people, including the author based on his biased sources, are opposed to this label and say that it is discriminatory and will provide a stigma to immigrants with this license. Supporting evidence is shown through a various number of sources, mainly the illegal immigrants themselves. These immigrants are protected under the deferred action program, which provides work permits and defers deportation for two years for immigrants brought into the country as children.One immigrant, Cinthia Marr oquin, who is a coordinator for an advocacy group, asks, â€Å"why make it so discriminatory,† and then says that they are trying to â€Å"out [illegal immigrants]. † The American Civil Liberties Union of North Carolina (ACLU) says that it is â€Å"unnecessary† and could â€Å"lead to harassment†¦ and racial profiling. † The Latin American Coalition in Charlotte says that it â€Å"would create a class of ‘inferior’ citizens,† considering that over 15,000 deferred-action applicants have been approved in North Carolina. The warrants coming with the claim are both explicit and implied.When you look at the big picture, knowing how society reacts to labels, this label would invoke a negative stigma on anyone using or showing this card in public. The backing for this follows suit with all of the support. Other immigrants are opposing it, saying that they won’t be able to make purchases with checks, order a beer or get on an airpl ane using this as a form of ID. Even though Republicans typically are opposed to any issue favoring immigrants, Zucchino seems to put a spin on their legislature. The Red North Carolina legislature has temporarily suspended the bill in order to give time for legislators to block or limit the license.Zucchino words this fact in a way to make it seem that even the very legislators that run this country, do not want this license to come to fruition for the same reasons as the immigrants themselves. A brief rebuttal comes in the form of a statement from a spokeswoman from the NC Department of Transportation. She claims that the design of the license stemmed from the state attorney general’s opinion. From there, the idea went through weeks of talks with federal and state agencies, and even advocacy groups. She says that this is all about the â€Å"individuals [being] able to get their driver’s licenses. †

American History Study Guide Ch. 15-18

Chapter 15 Elizabeth Cady Stanton: One of the most prominent leaders of the 19th century and leading figure of the early woman’s body; social activist/abolitionist Opposed the 14th and 15th amendment because it did nothing to enfranchise women Leader of the National Suffrage Association Crop-lien/Sharecropping:Growing of cotton and pledge a part of the crop as collateral Sharecropping: initially arose as a compromise between blacks’ desire for land and planters’ demand for labor discipline System allowed each black family to rent a part of a plantation with the crop divided between worker and owner at the end of the year Guaranteed the planters a stable resident labor force Black Codes:Laws passed by the new southern governments that attempted to regulate the lives of the former slaves Granted blacks certain rights: legalized marriage, ownership of property, and limited access to courts Denied them rights to testify against whites, serve on juries or in state mil itias, or to vote Declared that those who failed to sign yearly labor contracts could be arrested and hired out to white landowners Thaddeus Stevens:Radical who represented Pennsylvania in the House of Representatives Wanted to confiscate the land of disloyal planters and divide it among former slaves and northern migrants to the South; plan proved to be too radical Hiram Revels: Mississippi representative for the U. S. Senate during Reconstruction Served as chaplain in the wartime Union army and became the first black senator in American history Enforcement Acts of 1870-1871: Outlawed terrorist societies and allowed the president to use the army against them Continued the expansion of national authority duringReconstruction. Defined crimes that aimed to deprive citizens of the civil and political rights as federal offenses rather than violations of state law Klan eventually went out of existence U. S. v Cruikshank overthrew the Enforcement Acts U. S. v Cruikshank: Ruled that the du e process and equal protection clauses applied only to state action and not to actions of individuals Case that gutted the Enforcement Acts by throwing out convictions of some of those responsible for the Colfax Massacre of 1873 Election of 1876/Bargain of 1877:Republican nominee: Rutherford B. Hayes Democratic nominee: Samuel J. Tilden Election so close that whoever captured SC, FL, or LA would win Bargain: Congress appointed a 15-member electoral commission Members decided Hayes carried the disputed southern states, and therefore, won Reconstruction Act of 1867: Temporarily divided the South into 5 military districts and called for the creation of new state governments, with black men given the right to vote Passed by Congress over Johnson’s veto Chapter 16 Railroad Strike of 1877: ka Great Railroad Strike: first national labor walkout When workers protested a pay cut that paralyzed rail traffic, militia units tried to force them back to work The strike revealed a strong se nse of solidarity among workers and close ties b/w the Republican party and the new class of industrialists Aftermath: government constructed armories to ensure troops would be in hand in the event of labor difficulties Henry George, Progress and Poverty: Influential writer on social issues during the Gilded AgeHe identified the monopolization of land as the cause of social inequality Progress and Poverty: offered a critique of the expansion of poverty amid material abundance Book proposing more optimistic remedies for the unequal distribution of health His solution: â€Å"single tax†which would replace other taxes with a levy on increases in the value of real estate; it would be so high that it would prevent speculation in both urban and rural land George rejected the traditional equation of liberty with ownership of land; saw government as a â€Å"repressive power† Sherman Ant-Trust Act:Banned combinations and practices that restrained free trade; impossible to enfor ce Helped to establish the precedent that the national government could regulate the economy to promoted the public good Lochner v New York/Liberty of Contract Ideal: Supreme court voided a state law establishing ten hours per day or sixty per week as the maximum hours for bakers Battle at Wounded Knee: Soldiers opened fire on Ghost Dancers encamped near Wounded Knee Creek, killing b/w 150 and 200 Indians Marked the end of four centuries of armed conflict b/w the continent’s native population and European settlers and their descendantsAndrew Carnegie: Established a â€Å"vertically integrated† steel company – one that controlled every phase of the business from raw materials to transportation, manufacturing, and distribution. Dominated steel industry Knights of Labor: First group to try to organize unskilled workers as skilled, women alongside men, and blacks as well as whites Wanted to end the use of public and private police forces and court injunctions agains t strikes and labor organizations Thomas A. Edison:Era’s greatest inventor; Invented the phonograph, light bulb, motion picture, and a system for generating and distributing electric power Opened first electric generating station U. S. Steel Company: Founded in 1901; maintained labor policies held by Andrew Carnegie – lower wages and opposition to unionization Chapter 17 Omaha Platform, 1892: Party program adopted at the formative convention of the Populist Party Represents the merger of the agrarian concerns of the Farmers' Alliance with the free-currency monetarism of the Greenback Party while explicitly endorsing the goals of the largely urban Knights of Labor.Tom Watson: Georgia’s leading Populist who worked the hardest to forge a black-white alliance Made vicious speeches whipping up prejudice against blacks, Jews, and Catholics Kansas Exodus: Some blacks sought a way out through emigration from the South 40, 000 to 60, 000 African Americans migrated to Kan sas seeking political equality, freedom from violence, access to education, and economic opportunity Exodus derived from biblical account of Jews escaping slavery in Egypt Ida B. Wells:Nation’s leading antilynching crusader; insisted that given the conditions of southern blacks, the US had no right to call itself the â€Å"land of the free† â€Å"New Immigrants†: 3. 5 million newcomers seeking jobs in the industrial centers of the North and Midwest Described by native-born Americans as members of distinct â€Å"races†, whose lower level of civilization explained everything from their willingness to work for substandard wages to their supposed inborn tendency toward criminal behavior â€Å"Business Unionism†: Women’s Christian Temperance Union:Largest female organization; comprehensive program of economic and political reform including the right to vote â€Å"must abandon the idea that weakness and dependence were their nature and join asse rtively in movements to change society† Frances Willard: President Election of 1896: Republicans met the silverite challenge insisting that gold was the only â€Å"honest† currency Republican nominee: William McKinley Sometimes called the first modern presidential campaign because of the amount of money spent Democrats and Populists supported: William Jennings Bryan McKinley was the winner Platt Amendment:Drafted by Senator Platt of Connecticut Authorized the US to intervene militarily whenever it saw fit; US also acquired a permanent lease on naval stations in Cuba Had to be approved before Cuba could recognize their independence Chapter 18 Muckraking: The use of journalistic skills to expose the underside of American life; Theodore Roosevelt came up with the term New Immigration: Began around 1890 and reached its peak during the Progressive Era People came from southern and eastern Europe; 13 million came to the US, the majority from Italy, Russia, and the Austro-Hung arian empireFordism: Concentration on standardizing output and lowering prices Moving assembly line: car frames brought to workers on a continuously moving conveyor belt Fordism: economic system based on mass production and mass consumption Lawrence, Mass. , strike of 1912: When the state legislature enacted a 54 hour workweek, employers reduced the weekly take home pay of those who had been laboring longer hours Workers spontaneously went on strike and called IWW for assistance Children strikers left the city, and city officials ordered that no more children could leave LawrenceSamuel â€Å"Golden Rule†Jones: Gilded Age mayors who pioneered urban Progressivism Instituted 8 hour day and paid vacations at his factory that produced oil drilling equipment Founded night schools and free kindergartens, built new parks, and supported right of workers to unionize Jane Addams: Era’s most prominent female reformer Believed woman’s life should be governed by the â€Å"fa mily claim† – the obligation to devote herself to parents, husband, and children Founder of the Hull House in 1889 – settlement house devoted to improving the lives of the immigrant poorJohn Muir: Organized the Sierra Club to help preserve forests from uncontrolled logging by timber companies and other intrusions of civilization Federal Trade Commission: Second expansion of national power in 1914 Established to investigate and prohibit â€Å"unfair†business activities such as price-fixing and monopolistic practices Welcomed by many business leaders as a means of restoring order to the economic marketplace and warding off more radical measure for curbing corporate power

Nineteenth Century Responses to Industrialization essays

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Credit Ratings Role in the Financial Crisis

Credit Ratings Role in the Financial Crisis The global financial systems institutional framework has been evolving over time.Every crisis has helped decipher a gap in the financial structure which is then fixed by the regulating authorities.It hasnt been very often that the regulators were able to identify the gaps before the market identified it.This does not serve the purpose of existence of regulatory authorities.In future the role of regulatory authorities should be pro active in nature rather than reactive mode of undertaking corrective actions. The subprime crisis which originated in the united states led to a global melt down which was severe.The mortgage market in the United States saw a tremendous growth in the initial years of the 21st century. Subprime borrowers started obtaining mortgages due to availability of cheap credit, lenient lending practices and appreciation in real estate values. These mortgages were inturn sold by the lenders to investment banks who packaged them into exotic securities and sold them to high risk taking investors seeking high returns. Investors had faith in these packaged securities primarily because of Credit Rating Agencies (CRA) ratings of these securities as investment grade. In 2007, the tide turned and credit became expensive. Home values dropped. Majority of the subprime buyers started defaulting their loan payments. The CRAs rapidly downgraded all the securities for which they had given favourable ratings. This dissertation is undertaken to understand the emergence of structured financial products, the rating process followed by the credit rating agencies for rating them and the mistakes done by the rating agencies, a major contributor to the subprime mess in the United States which had ripple effect across financial markets all over the world. Literature Review: The following research papers and articles have been referred and reviewed in order to gain indepth knowledge about the work done about the dissertation topic under consideration. This would facilitate a clear understanding of different view points to the issue and enable a comprehensive analysis of the topic. According to V.Gupta, R.K.Mittal K.Bhalla (2010), low interest rates, abundant liquidity and a chase for yield led to the emergence of sub prime lending which was given undue support by the credit rating agencies. Credit rating agencies gave investment grade ratings to securitization transactions based on subprime mortgage loans. The CRAs combined lower rated mortgage loans with equity to form mezzanine CDO enabling a higher credit rating. Also CRAs used the same risk metric for assessment of all instruments. The CRAs assigned supersafe, triple-A ratings to structured products that later turned out to be extremely risky, and in some cases worthless. This has been illustrated with few examples of downgrades.The paper concludes that The regulatory framework should also facilitate the conduct of stress tests by users on key model parameters, and provide for the disclosure by credit rating agencies of the economic assumptions underlying their rating of structured products. According to Katz and Salinas (2009), faulty credit ratings and the flawed rating process have been the key drivers to the financial crisis 2007-2008. While the easy availability of (what turned out to be flawed) ratings fueled the growth of thismarket, the subsequent downgrades in ratings accelerated the markets collapse.The paper suggests that While corporate debt ratings are based on publicly available, audited financial statements, structured debt ratings are based on nonpublic, nonstandard, unaudited information supplied by the originator or nominal issuer. Moreover, rating agencies had no obligation to perform due diligence to assess the accuracy of the information and often relied on representations and warranties from the issuers about the quality of the data, which later proved to be inadequate. The researchers note that the credit rating agencies have always been slow to react to market events and a few examples have been quoted.Few measures suggested by the researchers inc lude managing conflict of interest, better transparency, direct government oversight etc. According to Fender and Kiff (2004) , rating od collateralised debt obligations involves assumptions such as default probability, recovery rates and correlated defaults of pool assets. The research paper analyses one of the rating methodologies used which is termed as Binomial Expansion Technique.A comparative analysis of this method and Monte corlo Simulation is done. The paper elaborates the implications of usage of different techniques on the rating outcomes. It finally discusses how methodological differences might induce issuers to strategically select rating agencies to get CDOS rated. According to Barnett- Hart(2009), Collateralized debt obligations (CDOs) have been responsible for $542 billion in write-downs at financial institutions since the beginning of the credit crisis.The poor CDO performance has been attributed to inclusion of low quality collateral with exposure to U.S residential housing market.The role of CDO underwriters and credit rating agencies in the crisis have been discussed. The credit rating agencies failed to rate the performance of CDOS precisely due to over automation in rating methodologies and heavy reliance on input whose accuracy was not verified. The researcher concludes that by understanding the CDO market meltdown story more effective regulatory and economic policies and practices to prevent history from repeating itself in the future. According to Securities and Exchange commission(2008), few observations about credit rating agencies with respect to CDOS have been made.SEC claims that few credit rating agencies could not deal with the substantial increase in the number and complexity of the CDOS since 2002. Rating agencies failed to document significant steps in rating of CDOS including reasons behind deviation from the models. Also the internal audit procedure of rating agencies varied significantly.The report summarises the remedial actions that the Nationally Recognised Statistical Rating Organisations(NRSRO) would take after the SEC examined them and came up with issues to be looked into. Under the new law and rules, NRSROs are required to make certain public disclosures, make and retain certain records, furnish certain financial reports to the Commission, establish procedures to manage the handling of material non-public information and disclose and manage conflicts of interest. The Commissions rules addition ally prohibit an NRSRO from having certain conflicts of interest and engaging in certain unfair, abusive, or coercive practices. According to Partnoy (2008), Credit rating agencies have been the primary drivers of second level securitisation.Investors did not examine the underlying assets and depended on parameters set by rating agencies to assess the CDOS. If the Credit rating agencies had used reasonable and accurate models and assumptions , the CDO transactions would not have been problematic. The paper suggests some policy prescriptions which include elimination of explicit reliance on credit ratings and the claims made by rating agencies that the ratings are mere opinions should not be accepted any longer. The researcher suggests that rolling average of market measures is a much better representation of the instrument than the unchanged credit rating .Credit default swap spreads would provide a warning about the CDOs and their true performance in the market. According to M.K.Datar(2011), the role of CRAs in the crisis has attracted attention basically owing to the severe downgrades during the initial stages of the crisis. The conflict of interest in the payment model has been discussed and the author suggests that investor pay model should be adopted as the issuer pay model creates a bias as rating agencies might be prone to give good ratings because the issuers are paying for it.An alternative platform pay model has been suggested in the paper wherein an issuer approaches a clearing house (platform) with a preset fee to get a rating. The platform would get the ratings done from a pool of recognised CRAs. This process avoids direct contact between the issuer and the rating agency.The paper concludes that better disclosures by CRAs and their subsidiaries in respect of details of earning from rating and non-rating revenues, default and transition statistics would play a key role in improved governance in CRAs. Problem Definition: The dissertation work is undertaken to understand the reasons behind the emergence of the subprime crisis in late 2000s and the role of credit rating agencies in the crisis.The study is divided into two parts studying the pre crisis and post crisis situations and analysing the change in credit ratings of various complex instruments in response to the crisis. The objectives are briefly stated as below: Understand the evolution of structured financial products Understand the causes of subprime crisis Study the credit rating process for CDOS Study the factors that drove the rapid downgrade of CDOs in the initial meltdown stages Analyse the flaws in the rating process which led to failure in forecasting true performance. Suggestions and corrective action for facilitating accuracy in credit ratings of complex products. Research methodology: Research Design: The method adopted for research is causal research wherein the problem in question is understood and the degree of impact of the cause on the effect under study is analysed. The financial crisis that began in 2007 is studied and the contribution of credit ratings to the crisis is analysed. Credit ratings serve as the control group in this research. Finally suggestions for improvement in credit ratings and measures to be taken are proposed. Methods and Techniques of data collection and analysis: To achieve the research objectives, secondary data from reliable sources are being used. Thorough study of the existing literature is being done to understand different ideas and view points on the topic which would facilitate a comprehensive analysis of the issue. Methodology adopted for rating complex products by leading credit rating agencies has been studied in detail which includes statistical tools and financial models. Data sources: Data is being obtained from various secondary data sources for study and analysis. The major sources used for research are as follows: Credit Rating Agencies websites and reports Banking for International Settlements(BIS) working papers and reports Securities and Exchange Commission reports Journals and papers published on Credit ratings contribution to the Crisis. DRIVERS TO EMERGENCE OF FINANCIAL CRISIS 2007-2008: The financial crisis was fuelled right from the early 2000s through various factors , the most important of which is sub-prime lending. This inturn led to construction of CDOs at a later stage in order to transfer the concentrated risk of banks to the investors . Hence it is vital to get a clear idea about the emergence of sub prime lending and evolution of CDOs . Sub-Prime lending: The sub-prime mortgage market caters to customers who are unable to meet normal credit and/or documentation requirements for mortgages. Subprime lending is riskier than normal lending for the banks. Hence banks tend to charge a higher interest rate to compensate for the risk. Over the past decade, this mark-up over prime rates has been about 2%, making lending potentially very lucrative. Only by the mid-1990s did the subprime mortgage market begin to take off as a number of factors emerged which apparently mitigated the default risk on such loans and hence led to an increasing number of banks lending ever-larger amounts to this sector. Some important factors which contributed to a boom in subprime lending are discussed below. Introduction to Sub Prime Lending: Evolution of Structured Financial Products: Collateralised debt obligations have been one of the complex financial products which have been instrumental in driving the financial system into a crisis. The evolution of CDOs needs to be understood in order to study the emergence of the financial crisis. The basic principle behind a CDO involves re-packaging of fixed income securities and division of their cash flows according to a specified structure. A CDO is constructed by creating a brain-dead company, a special purpose entity (SPE) or structured investment vehicle (SIV), which buys assets and issues bonds backed by the assets cash flows. The bonds are divided into a number of tranches with different claims on the principal and interest generated by the CDOs assets. The mechanics of a typical CDO are illustrated in Diagram A.  [1]   In order to understand the sudden growth in the demand for CDOs which in turn led to the financial crisis , it is vital to list out the reasons behind the growth of CDOs which are as below. Rationale behind growth of CDOs: Securitisation has been a way that helped banks to bundle loans and sell it to investors or make it off-balance sheet items .Once these items are removed from the balance sheet the capital adequacy gets more space and hence banks make new loans and the process continues. This basically facilitates banks to free up cash and easily meet BASEL norms for capital adequacy. The second rationale is re-allocation of risk.CDOs helps banks reduce the concentration of risk and also create securities as per specific requirements and risk profiles of the investors. This facilitated institutional investors to purchase CDOs as they can invest only in highly rated investment grade securities. CDOs allowed these investors to gain exposure to assets that, on their own, had been too risky, while investors looking to take more risk and receive potentially higher returns could buy the most junior or equity CDO tranches.  [2]   These are the major reasons behind growth of CDOs . Banks only thought of their own benefits and growth and the aftermath of this action was left to the market to face in reality few years down the lane . The consequences of this act of the highly knowledgeable financial community has been faced by people across the globe. Credit Ratings and CDOs: An overview Investors invest in securities based on various criteria one such being reliable ratings given by well known credit rating agencies. Credit rating agencies(CRA) were basically formed to guide investors assess risk of fixed income securities. CRAs have played a major role in the growth of CDOs market as investors relied on the ratings given to these complex structures and based their investments majorly on these credit ratings. They used credit ratings in place of their due diligence for assessment of CDOs. Credit rating agencies are approved by Nationally recognised Statistical rating organisation(NRSRO) . There are three well known players in the U.S financial market which are Moodys Fitch Standard and Poors These three agencies rated CDOs and the fees generated by rating CDOs were quite high which led to record profits . The percentage of CDO deals that were rated by the credit rating agencies has been given in the below diagram. Source: UBS CDO research Note: The percentage total exceeds 100 as the same instruments have been rated by more than one agency. Revenue earned by the rating agencies has grown since 2002 which has been depicted in the diagram below: Source:thismatter.com/money According to Mark Adelson, current Chief Credit Officer at SP: The advent of CDOs in the mid-1980s was a watershed event for the evolution of rating definitions. Until the first CDOs, rating agencies were only producers of ratings; they were not consumers. With the arrival of CDOs, rating agencies made use of their previous ratings as ingredients for making new ratings à ¢Ã¢â€š ¬Ã¢â‚¬Å" they had to eat their own cooking. For rating CDOs, the agencies used ratings as the primary basis for ascribing mathematical properties (e.g., default probabilities or expected losses) to bonds.  [3]   Credit rating agencies failed to examine the accuracy of the prior collateral ratings. They also used other rating agencies ratings as base for rating CDOS without verifying accuracy.To adjust for the shortcomings in other agencies ratings they used a system called notching where the rating would be decreased by one notch if the rating has been done by another rating agency. For example , if Moodys is rating a CDO which has a collateral rated BB+ by Fitch , Moodys would consider the rating as BB and plug it into their rating model. No analysis of accuracy had been done and it would be assumed that the notching would compensate for any errors in the rating done by Fitch. Figure below illustrates a comparison between the collateral ratings and the corresponding CDO ratings at the beginning and also the current scenario. This shows that the CRAs somehow gave huge amounts of AAA rated CDO securities from collateral with much lower ratings, reassuring the fact that that main reason why CDOs were so profitable in 2005-2007 is that it was possible to generate a high proportion of highly rated securities from lower quality assets. That practice backfired, resulting in massive downgrades of the CDO tranches as it became apparent that the rating agencies had been overly optimistic. While in 2005-2007, the initial ratings given to CDO tranches were on average better than the ratings of their underlying collateral assets, current CDO tranche ratings are worse than their associated collateral pool ratings which is an area that needs attention. The following figure shows the downgrades of CDOs over the years. The numbers on the y-axis correspond to the rating scale with lower numbers equal to higher-quality ratings (1=AAA, 22=D). An overview about the credit ratings and CDOs has been done. The following section elaborates the rating methodologies adopted by the rating agencies which have different variables considered for the purpose of rating the complex financial instruments and the assumptions behind them. CDO Rating Methodology: CDOs are based on portfolios of instruments combined together and not on a single loan. Rating these complex structures requires ascertaining a probability of default (PD) to each instrument in the portfolio and involves assumptions relating to recovery rates and default correlations. Thus it combines credit risk assessments of the individual assets and estimates about default correlations using credit risk modelling. There are two widely used methodologies for rating CDOs namely: Binomial expansion technique Monte Carlo Simulation Each method is discussed initially and then a comparison is done between the techniques and their impact on the ratings. Steps in the Rating Process: The reliability of a CDO rating depends on the agencys ability to assess the credit risk in the underlying asset pool and accurate modelling of the distribution of cash flows from the asset pool to different groups. All rating agencies generally follow a two stage rating process. In the first stage, analytical models are used to assess credit risk. The tools applied for analysing CDO pools differ according to the nature of underlying assets and are also based on the rating agencies. The second stage of the process comprises of structural analysis. This stage involves detailed modelling of cash flows, legal assessments and evaluations of third parties involved in the deal such as asset managers. The results of the cash flow analysis are used as input in the credit model in the form of adjustments in particular model assumptions. Finally, all information is aggregated and combined into a single, alphanumeric rating which is benchmarked to the historical performance of bonds. RATING METHODOLOGIES: The famous CDO rating methodology is based on Moodys quantitative approach for determining expected losses for CDO tranches which is called the binomial expansion technique (BET). BET was introduced in the year 1996 and is still used in CDO analysis along with a number of other new methodologies. The method relies on the use of diversity score (DS) which is used to map the underlying CDO portfolio with a hypothetical portfolio that consists of homogeneous assets equal to the diversity score. For calculating expected loss distributions a simpler hypothetical portfolio of homogeneous, uncorrelated securities is used in place of the original portfolio. As the number of assets in the hypothetical pool is assumed to equal the diversity score, it will be lower than the number of assets in the actual CDO portfolio to account for uncorrelatedness under the BET. Given the homogeneous nature of the hypothetical portfolio, the behaviour of the asset pool can be explained by DS+1 default scenarios with default occurring for 0 assets, 1 asset, DS assets, where the probability of each scenario is calculated using the binomial formula. After working out the cash flows and losses under each default scenario, the obtained output from the binomial distribution are converted into estimates of the portfolio and tranche loss distributions. An alternative method that is used in by three major rating agencies is Monte Carlo simulation technique which estimates the default properties of the underlying CDO asset pool based on repeated trials of random defaults with correlation structure that is assumed. In this process, default events are simulated within a credit risk model, where default occurs when the value of assets fall below that of its liabilities. The models main inputs are asset-level probabilities of default and pair-wise correlations of assets, which are converted into an estimate of the entire pools loss distribution. This distribution is used with other inputs, to determine the required subordination level (level of credit enhancement) for each CDO tranche, where desired tranche ratings are assumed constant or given.MC approaches give more accurate loss distribution estimates, they are computer intensive and take a long time to provide accurate results. Especially for cash flow CDOs it is very difficult to co nstruct an efficient MC simulation that accounts for all cash flow nuances .Sometimes it takes hours for an MC simulation to determine the subordination level for an AAA tranche and this can be complicated when further assumptions are made. In managed portfolios, the relative value of the simulation approachs asset-by-asset analysis is less while some of the BETs implicit simplifying assumptions (like equal position sizes) closely resemble typical covenants in managed deals. The choice of rating methodology basically considers a trade-off between accuracy and efficiency, and the result may differ for certain types of CDO structures. This is one of the reasons for Moodys to introduce a new Monte Carlo simulation-based method called CDOROM to rate static synthetic CDOs, while it continues to use the BET and its modifications for rating cash CDOs and managed structures.