Global Financial Crisis Essays (Examples)
Study Document
The Global Financial Crisis Money Laundering
Money Laundering: The global financial Crisis
There is disturbing evidence that money derived from the illegal sale of drugs was one of the primary means through which some banks … that money derived from the illegal sale of drugs was one of the primary means through which some banks remained solvent through the global financial crisis 2008. According to Rajeev Syal of The Guardian, “Inter-bank loans were funded by money that originated from the drugs trade and other … for less regulation of money laundering in general, since this is what the drug trade is dependent upon. The insecurity caused by the financial crisis may make some banks wary of regulation of any aspect of investment which has helped them extricate themselves from the difficulties they experienced … of regulation of any aspect of investment which has helped them extricate themselves from the difficulties they experienced in the wake……
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Bibliography
Rajeev Syal, ‘Drug money saved banks in global crisis, claims UN advisor,’ The Guardian (London, 13 Dec 2009) accessed 13 September 2019
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Globalization Of Insurance
… (Vaughan & Vaughan, 2013). This goes to show the extent to which foreign companies have grown in the insurance industry thanks to the global of insurance but also to the spread of wealth throughout the world. Insurance companies and finance go together as the former depends upon … companies and finance go together as the former depends upon the latter for return on investment (ROI). Part of the problem with the global of insurance is that everything has been global—right down to investable markets. Since 2008, central banks around the world have lowered rates to the point that it is impossible for insurance … point that it is impossible for insurance funds to obtain a targeted ROI without investing in risk assets. Likewise, regulatory bodies have gone global as well with organizations like the Common Framework for the Supervision of Internationally Active Insurance Groups (IAIGs) also known as ComFrame.……
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References
Egan, M. (2018). Tax cut triggers $437 billion explosion of stock buybacks. Retrieved from https://money.cnn.com/2018/07/10/investing/stock-buybacks-record-tax-cuts/index.html " target="_blank" REL="NOFOLLOW">
Study Document
Enterprise Risk Management In Wells Fargo During The Pandemic
… role in managing loan products, using interest rates to attract savers, and offering investment advice. “No single risk associated with the COVID-19 pandemic crisis can be managed in isolation,” as Beasley (2020) points out (p.2). This means that from an ERM perspective the problem has to be … 1) a critical analysis, including a comparison and contrast of Enterprise Risk Management (ERM) vs. traditional risk management; 2) a discussion of hazard, financial, operational and strategic risks; 3) a SWOT analysis of Wells Fargo; 4) an examination of the relationship between organizational culture and ERM; 5) … profit opportunities; 6) two specific ways in which auditors can incorporate ERM into the company’s audits; 7) a discussion of the role of financial derivatives as both risk management and a speculative tool; and 8) a discussion of the ways three leading companies (one domestic and two … is that an action may……
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References
Beasley, M. (2020). How to Leverage ERM Principles to Better Respond to COVID-19-Related Risks. ERM Professional Insights.
Derysh, I. (2020). Watchdog questions why Wells Fargo reported giving only one large PPP loan to a Black-owned business. Retrieved from https://www.salon.com/2020/07/22/watchdog-questions-why-wells-fargo-reported-giving-only-one-large-ppp-loan-to-a-black-owned-business/
English, C. (2020). Wells Fargo Forced to Cut Its Dividend After Fed Stress Test. Here’s What Other Banks Did. Retrieved from https://www.barrons.com/articles/wells-fargo-forced-to-cut-its-dividend-after-fed-stress-test-51593467664
Hall, J. (2007). Internal Auditing and ERM: Fitting in and Adding Value. Retrieved from https://global.theiia.org/about/about-the-iia/Public Documents/Sawyer_Award_2007.pdf
Kaplan, R. & Mikes, A. (2012). Managing risks: A new framework. Harvard Business Review, 3.
Lewis, M. (2010). The Big Short. NY: W. W. Norton.
Lundqvist, S. (2014). Abandoning Silos for Integration: Implementing Enterprise Risk Management and Risk Governance. Lund University.
Morgenson, G. (2020). More Wells Fargo customers say the bank decided to pause their mortgage payments without asking. Retrieved from https://www.nbcnews.com/business/personal-finance/more-wells-fargo-customers-say-bank-decided-pause-their-mortgage-n1234610
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SEC Enforcement Of Goldman Sachs And AIG
… “Fraud In Connection With the Structuring and Marketing of a Synthetic CDO” from the 2007 subprime mortgage scandal at the heart of the financial crisis of 2007-2008 (SEC, 2010). The specific charge was that the bank and Tourre made material misstatements and omissions in connection with a synthetic … linked to the performance of the subprime housing mortgage market—i.e., the subprime mortgage-backed securities identified by Lewis (2010) as triggering the wave of financial distress that led to central banking intervention (unconventional monetary policy—also known as quantitative easing) and the inflation of asset bubbles currently seen today … The company’s reputation was hurt but not so extensively as one might think: the bank is still recognized as one of the top financial leaders in the industry and its role in the financial crisis of 2007-2008 was not much different from the role of any of the…[break]…analyzed in this context, it……
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References
Baer, J. (2014). Former Goldman Trader Tourre Won't Appeal Fraud Verdict. Retrieved from https://www.wsj.com/articles/former-goldman-trader-tourre-wont-seek-appeal-of-securities-fraud-verdict-1401221556
Huston, J. H., & Spencer, R. W. (2018). Quantitative easing and asset bubbles. Applied Economics Letters, 25(6), 369-374.
Lewis, M. (2010). The Big Short. NY: W. W. Norton.
McDonald, R., & Paulson, A. (2015). AIG in Hindsight. Journal of Economic Perspectives, 29(2), 81-106.
Murray, N., Manrai, A. K., & Manrai, L. A. (2018). The role of incentives/punishments, moral hazard, and conflicts of interests in the 2008 financial crisis. The bi-annual academic publication of Universidad ESAN, 22(43).
SEC. (2010). Litigation Release No. 21489 / April 16, 2010. Retrieved from https://www.sec.gov/litigation/litreleases/2010/lr21489.htm
Weisenthal, J. (2009). Goldman Sachs made billions shorting AIG. Retrieved from https://www.businessinsider.com/goldman-sachs-made-billions-shorting-aig-2009-3
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Directors Remuneration And Its Impact On Share Repurchases
… Irish company view director remuneration as a result of share repurchases as a case of conflict of interest or as immoral. As the global economic crisis of 2007-2008 showed, when immorality is introduced into the financial system, moral hazard can quickly escalate to the point beyond where effective risk management can any longer be demonstrated (Murray, Manrai & Manrai, … of the community in which the company is situated, consumers of the company’s products, employees of the company, and individuals from the legal financial industry. The objective is to obtain the views of stakeholders on share repurchases to see whether this activity is viewed with approval or … provide the substance for evaluation in this qualitative case study. The purpose of the comparison will be to unlock and explore the business’s financial and social situation in relation to how stakeholders view the morality of share repurchasing to see if……
References
References
Bendix, R. (1974). Inequality and social structure: a comparison of Marx and Weber. American Sociological Review, 149-161.
Chan, R., & Hoy, M. (1991). East—West joint ventures and buyback contracts. Journal of International Economics, 30(3-4), 331-343.
Choi, C. J., & Maldoom, D. (1992). A simple model of buybacks. Economics Letters, 40(1), 77-82.
Durkheim, E. (1997). The Division of Labor in Society. NY: The Free Press.
Egan, M. (2018). Tax cut triggers $437 billion explosion of stock buybacks. Retrieved from https://money.cnn.com/2018/07/10/investing/stock-buybacks-record-tax-cuts/index.html " target="_blank" REL="NOFOLLOW">
Study Document
Iron Contra The Covert Action Operation In Iran
Operation Ajax
The war was triggered by the Anglo-Iranian crisis of 1951 to 1953. The Anglo-Iranian Oil Company was largely viewed as a colonial influence bent on controlling the host government and enjoying … of going against the legal rights of the company and pushed for the boycott of oil from Iran. The campaign resulted in the financial crisis in Iran. Britain attempted to lure America into participating in a coup, but Truman had earlier rebuffed the idea. However, when Eisenhower took ……
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References
Contini, C. (2013). A Realistic View on Iran: International relations and Global Politics. GRIN Verlag.
De Seve, M. (2020). Operation Ajax: The Story of the CIA Coup that Remade the Middle East. Verso Books.
Fowler, R. (2018). More Than a Doctrine: The Eisenhower Era in the Middle East. U of Nebraska Press.
Lee, C. T. (2013). A Cold War Narrative: The Covert Coup of Mohammad Mossadeq, Role of the U.S. Press and Its Haunting Legacies. Senior Theses, Trinity College, Hartford, CT. http://digitalrepository.trincoll.edu/theses/300
Levin, Y. A. (2018). Operation Ajax in the CIA analytics: colonial knowledge in postcolonial age. Samara Journal of Science, 7(2), 200-203.
Luce, D. D. (2017, September 20). The specter of operation AJAX. The Guardian. https://www.theguardian.com/politics/2003/aug/20/foreignpolicy.iran
Merica, D., & Hanna, J. (2013). In declassified document, CIA acknowledges role in\\\\\\'53 Iran Coup. CNN News. Retrieved June 15, 2020.
Roosevelt, K. (1979). Countercoup, the Struggle for the Control of Iran. McGraw-Hill Companies.
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Labor Market Wages And Income Inequality
… inequality in the U.S. and discusses them in terms of inflation (caused by the injection of $4 trillion worth of liquidity into the financial markets by the Federal Reserve after the global economic crisis threatened to derail capitalism). It describes what has been written in three news articles in recent years and months, and discusses them with … Federal Reserve along with the other central banks of the world engaged in unconventional monetary policy aka quantitative easing in response to the global economic crisis of 2007-2008, asset prices have increased exponentially—whether one is looking at the S&P 500, housing costs, healthcare costs, education costs, or even precious … as small businesses are showing signs of slowing down: “Hampering job growth are labor shortages, layoffs at bricks-and-mortar retailers, and fallout from weaker global trade.” In other words, the takeover of commerce by Amazon is resulting in traditional retailers being put……
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References
BBC. (2019). US economy under Trump: Is it the greatest in history? Retrieved from https://www.bbc.com/news/world-45827430
Bernstein, J. (2019). A tight job market is a potent force against inequality and wage stagnation. Retrieved from https://www.washingtonpost.com/outlook/2019/02/01/tight-job-market-is-potent-force-against-inequality-wage-stagnation/?utm_term=.0a531cf24efb
Cox, J. (2019). Private payroll growth tops estimates as job market shows signs of tightening. Retrieved from https://www.cnbc.com/2019/07/31/private-payrolls-up-156k-in-july-vs-150k-est-adpmoodys.html
Harwood, J. (2019). 5 reasons why income inequality has become a major political issue. Retrieved from https://www.cnbc.com/2019/06/05/5-reasons-income-inequality-has-become-a-major-political-issue.html
Study Document
The Phillips Cure And Unemployment
… 2008 changed everything. Now the central bank’s only policy is to continue to inflate the asset bubble or risk bringing down the entire global financial system when confidence in that system evaporates.
Conclusion
By trying to intervene in the markets through the manipulation of inflation rates in order ……
References
References
Amadeo, K. (2019). Unemployment rate by year since 1929 compared to inflation and GDP. Retrieved from https://www.thebalance.com/unemployment-rate-by-year-3305506
FRED. (2019). FRED Graph. Retrieved from https://fred.stlouisfed.org/series/LNU04000024#0
Friedman, M. (1977). Nobel lecture: inflation and unemployment. Journal of political economy, 85(3), 451-472.
Heller, R. (2017). Monetary mischief and the debt trap. Cato Journal, 37(2), 247-261.
Lucas, R. E., & Rapping, L. A. (1969). Price expectations and the Phillips curve. The American Economic Review, 59(3), 342-350.
Stiglitz, J. (1997). Reflections on the natural rate hypothesis. Journal of Economic Perspectives, 11(1), 3-10.
Wulwick, N. J. (1987). The Phillips curve: which? whose? to do what? how?. Southern Economic Journal, 834-857.
Study Document
Major Issues Facing The European Union
… affairs without respect to what the EU has to say about it. After looking at issues such as 1) Brexit, 2) the immigration crisis, 3) the open borders policy, 4) the problem of NATO, 5) the ultra-high and potentially catastrophic levels of debt that the European Central … instead of the collective, there could be many more nations that follow the UK out the door in the coming years.
The Immigration Crisis
One of the reasons for the rise of nationalism has been the immigration crisis stemming from the non-stop wars in the Middle East that have decimated the region and forced millions of migrants from their native lands. … the threat of terrorism is still high in Europe and that many new terrorist attacks have occurred in EU countries since the immigration crisis began, it is not hard to see why citizens of these countries are rallying behind……
References
References
Amadeo, K. (2019). Eurozone debt crisis. Retrieved from https://www.thebalance.com/eurozone-debt-crisis-causes-cures-and-consequences-3305524
BBC. (2020). Brexit. Retrieved from https://www.bbc.com/news/uk-politics-32810887
Chadwick, L. (2020). Recession could tip EU. Retrieved from https://www.euronews.com/2020/02/27/could-covid-19-coronavirus-trigger-a-european-economic-recession
Grose, T. (2020). Coronavirus tests Europe’s open borders. Retrieved from https://www.usnews.com/news/best-countries/articles/2020-03-02/europes-open-border-agreement-may-become-casualty-to-coronavirus
Herszenhorn, D. (2019). Europe’s NATO problem. Retrieved from https://www.politico.eu/article/europe-nato-problem-defense-procurement-training-research/
Pew Research Center. (2016). European opinions of the refugee crisis. Retrieved from https://www.pewresearch.org/fact-tank/2016/09/16/european-opinions-of-the-refugee-crisis-in-5-charts/
Wirtz, B. (2019). The Beginning Of The End Of Open Borders In Europe. Retrieved from https://www.theamericanconservative.com/articles/the-beginning-of-the-end-of-open-borders-in-europe/
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