`` Rent Seeking And The Marking Of An Unequal Society ``...

Modern Americans always appeal for freedom, as it is stated in the national pledge that the U.S. is â€Å"one nation, under god, indivisible, with liberty and justice for all†. Many civilians are chasing freedom for freedom, yet most of them need constraints and guides. In â€Å"Rent Seeking and the Marking of an Unequal Society†, Joseph E. Stiglitz discusses the inequality created by monopolistic businessmen and suggests that American government need to regulate the economy and trading system. He defines some of those monopolists as rent-seekers who do not create new profits into the society, but take advantage over others to acquire wealth. Tim Wu, the author of â€Å"Father and Son†, talks about the monopolies within information world – the competition between Apple and Google. Apple first â€Å"opened† personal computing to individuals under the inspiration of Steve Woznaik, but turned into an exclusive company when Steve Jobs introduced â€Å" closed† Macintosh. Then Jobs consolidated this enclosure through iPod, iPhone, and iPad. Google, as the â€Å"son† who focuses on Web directing, keeps the openness of Internet information by building a â€Å"searching† web system. However, Google does not open its searching engine program to the public. Apple and Google are creators and rent-seekers of information world at the same time, because they do not really produce entirely new technology. Instead, they build their companies on the premise of the previous innovations and improve these innovations by adding

Un-Answered Problems With Samples of Introductory Sentences to Sentences for Essay Applying to Colleg Disclosed

Un-Answered Problems With Samples of Introductory Sentences to Sentences for Essay Applying to Colleg Disclosed In truth, it's probably the most essential part of your essay, since it draws in the reader. If you're in the center of your essay writing procedure, you will want to see our suggestions on what essay pitfalls to prevent. To begin with, as soon as you are writing about another bit of literature, that which we call literary analysis, probably the very best and most straightforward means to begin your paper is to start by stating the author and title. Both examples handle the identical theme (sick parent) but utilize various approaches. Possessing a crystal clear and structured plan is the foundation for any great bit of writing, and a college essay is not any different. Students are from time to time so eager to jump into their writing they begin referring to the subject without providing an introduction in any respect. Some students may discover this to be a very simple procedure, while others might devote a larger volume of time understanding this simple building block of college writing. You have to grab their attention and the best method to do this is by writing in your voice. The words of a renowned individual, for example an author, would be the very best approach to start an essay. It's time to be a word artist! When time is tight, it's excellent to have a way to begin quickly. If it comes to writing essays in college, most of us need somewhere to begin. The slang also emphasizes this region of the letter. Do not attempt and describe too much in this section, as you would like to split up the bulk of it for the remaining portion of the essay! The usage of the exclamation mark provides the sentence that Eureka moment. I would say that 3-5 examples is a very good variety, provided that they are many different kinds of something similar. The Most Popular Samples of Introductory Sentences to Sentences for Essay Applying to Colleg Making an essay isn't an easy job. Essay outline for college plays an important role. You're not writing for yourself here, but instead for quite a specific type of reader. The reader would like to learn more. The Start of Samples of Introductory Sentences to Sentences for Essay Applying to Colleg The remainder of the paragraph will be produced of supporting sentences. Each paragraph starts with a new big point that's then explained. Your very first paragraph clearly indicates the goal of your essay. Moreover, the whole introductory paragraph lets your r eader know what your paper is all about and why it's important to read your paper. Informative essay examples may be used for references. Below are a couple of the very best. Below is a good example of a 5-paragraph essay. Share an essay on any subject of your pick. Inside this lesson, let's look at some effective tactics to compose introductory sentences, or the initial sentences of an essay. Let's consider a good example. Before starting an essay, it's important to understand what you're writing for. A great prep book can be absolutely the most important study tool you use, and we've got information on all the ideal TOEFL prep books you need to consider. It will inform you how and why to move past the five-paragraph themes you learned to write in high school and get started writing essays which are more analytical and more flexible. The student understood why he wished to visit this college.

Enterprise Risk Management Free Essays

Enterprise / Operational Risk Management IT Audit Manager City National Bank California State Polytechnic University, Pomona Enterprise risk management (ERM) is a relatively new discipline that focuses on identifying, analyzing, monitoring, and controlling all major risk classes (e. g. , credit, market, liquidity, operational risk classes). We will write a custom essay sample on Enterprise Risk Management or any similar topic only for you Order Now Operational risk management (ORM) is a subset of ERM that focuses on identifying, analyzing, monitoring, and controlling operational risk. The purpose of this paper is to explain what enterprise risk management is and how operational risk management fits into the ERM framework. In our conclusion, we discuss what is likely to happen in the ERM / ORM environment over the next 5 years. Introduction As the Internet has come of age, companies have been rethinking their business models, core strategies, and target customer bases. â€Å"Getting wired,† provides businesses with new opportunities, but brings new risks and uncertainty into the equation. Mismanagement of risk can carry an enormous cost. In recent years, business has experienced numerous, related risk reversals that have resulted in considerable financial loss, decrease in shareholder value, damage to company reputations, dismissals of senior management, and, in some cases, the very dissolution of the business. This increasingly risky environment, in which risk mismanagement can have dire consequences, mandates that management adopt a new more proactive perspective on risk management. What is Enterprise / Operational Risk Management? Clearly, there is a correlation between effective risk management and a well-managed business. Over time, a business that cannot manage risk effectively will not prosper and, perhaps fail. A disastrous product recall could be the company’s last. Rogue traders lacking oversight and adequate controls have destroyed old well-established institutions in a very short time. But, historically, risk management in even the most successful businesses has tended to be in â€Å"silos†Ã¢â‚¬â€the insurance risk, the technology risk, the financial risk, the environmental risk, all managed independently in separate compartments. Coordination of risk management has usually been non-existent, and identification of emerging risks has been sluggish. This paper espouses a recent concept—enterprise-wide risk management—in which the management of risks is integrated and coordinated across the entire organization. A culture of risk awareness is created. Companies across a wide crosssection of industries are beginning to implement this effective new methodology. 1 Enterprise / Operational Risk Management At first glimpse, there is much similarity between operational risk management and other classes of risk (e. . , credit, market, liquidity risk, etc. ) and the tools and techniques applied to them. In fact, the principles applied are nearly identical. Both ORM and ERM must identify, measure, mitigate and monitor risk. However, at a more detailed level, there are numerous differences, ranging from the risk classes themselves to the skills needed to work with operational risk. Operational risk management is just beginning to define the next phase of evolution of corporate risk management. Should firms be able to develop successful ORM programs, the next step will be for these firms to integrate ORM with all other classes of risks into truly enterprise-wide risk management frameworks. See Exhibit 1 for an example of an ERM / ORM organizational structure representative of the banking industry: ERM Organization Chart CEO Group Risk Director (ERM) Economic Capital (Planning) Risk Transfer Group Risk Executive Committee Change Program Credit Risk * Market Risk* Operational Risk (ORM)* Corporate Compliance IT Security and Business Continuity Corporate Risk Evaluation (Audit) †¢ Note – the major categories of risk to which financial services firms expose themselves are credit risk, market risk and operational risk. Not surprisingly, financial services firms’ largest risk concentrations—credit risk and market risk are most effectively managed. Exhibit 1 2 Why Enterprise / Operational Risk Management? There are many reasons ERM / ORM functions are being established within corporations. following are a few of the reasons these functions are being established. Organizational Oversight Two groups have recently emphasized the importance of risk management at the organization’s highest levels. In October 1999, the National Association of Corporate Directors released its Report of the Blue Ribbon Commission on Audit Committees, which recommends that audit committees â€Å"define and use timely, focused information that is responsive to important performance measures and to the key risks they oversee. † The report states that the chair of the audit committee should develop an agenda that includes â€Å"a periodic review of risk by each significant business unit. In January 2000, the Financial Executives Institute released the results of a survey on audit committee effectiveness. Respondents, primarily chief financial officers and corporate controllers, ranked â€Å"key areas of business and financial risk† as most important for audit committee oversight. In light of events surrounding recent corporate scandals (e. g. , Enr on, etc. ), and the increasing executive and regulatory focus on risk management, the percentage of companies with formal ERM methods is increasing and audit committees are becoming more involved in corporate oversight. The UK and Canada have set forth specific legal requirements for audit committee oversight of risk evaluation, mitigation, and management which are widely accepted as best practices in the U. S. Magnitude of Problem The magnitude of loss and impact of operational risk and losses to date is difficult to ignore. Based on years of industry loss record-keeping from public sources, large operational risk-related financial services losses have averaged well in excess of $15 billion annually for the past 20 years, but this only reflects the large public and visible losses. Research has yielded nearly 100 individual relevant losses greater than $500 million each, and over 300 individual losses greater than $100 million each. 1 Exhibit 2 is a listing of major operational losses. Interestingly enough, the majority of these losses have occurred in financial services, which explains the industry’s leading focus on operational risk management especially in the area of asset-liability modeling and treasury management models to manage risks in the highly volatile capital markets activity of derivative trading and speculation. The 1 Hoffman, Douglas G. , Managing Operational Risk (New York: John Wiley Sons, 2002), p. xvi. 3 Top Operational Risk Losses Company Numerous Financial Institutions and Others BCCI Sumitomo Corporation Tokyo Shinkin Bank Banca Nazionale del Lavoro Daiwa Bank Barings Non-Financial Institutions: LTCM Texaco, Inc. Cendant Corporation Dow Corning St. Francis Assisi Foundation Mettlgesellschaft Owens Corning Fiber Glass Orange County Atlantic Richfield Kashima Oil Showa Shell Prudential Securities Drexel Burnham Lambert General Motors Phar Mor Loss Amount $20 million. Initial Estimates $17 billion $2. 9 billion $2. 3 billion $1. 8 billion $1. 1 billion $1 billion $4 billion $3 billion $2. 9 billion $2 billion $2 billion $1. billion $1. 7 billion $1. 6 billion $1. 5 billion $1. 5 billion $1. 5 billion $1. 4 billion $1. 3 billion $1. 2 billion $1. 1 billion Date 2001 1991 1996 19901991 1992 19831995 1995 1998 1984 19851998 1994 1999 19911993 1980s1990s 1994 19861990 1994 19891993 1994 19981993 1996 1992 Description Terrorists hijacked four commercial airliners and crashed them into the World Trade Center. Over 2000 lives lost. Countless businesses impacted. Regulators seized about 75 percent of The Bank of Credit and Commerce International’s $17 billion in assets in a major fraud. Sumitomo Corporation incurred huge losses through excessive trading of copper. The manager of the Imasato branch forged 19 deposit certificates, which were used to raise money for stock deals. Former employees plead guilty to conspiring to arrange $5 billion in unauthorized loans to Iraq. Loss due to unauthorized trading by an employee. This catastrophic loss has become a benchmark for operational risk. Losses due to lack of dual control and checks and balances. Huge market losses due to inadequate model management and inadequate controls at Long Term Capital Management. Pennzoil sued Texaco alleging that Texaco â€Å"wrongfully interfered† in its merger deal with Getty. Largest and longest-running accounting fraud in history. Former executives conspired to inflate earnings. The company agreed to pay settlements to 18 women who indicated breast implants made them ill. Insurance fraud case in which Martin Frankel allegedly stole as much as $2 billion from this foundation. Loss due to liquidation of oil supply contracts. Settlement of asbestos-related claims. Largest people risk class case in financial history. Largest investment loss ever registered by a municipality. Settlement of North Slope oil royalties dispute with Alaska. Disguised losses on FX forward contracts. Major oil refiner in Japan faced losses from forward currency contracts. Settled charges of securities fraud with state and federal regulators. Former employees filed a class action suit charging the company with fraud, breach of duty and negligence. Heavy losses suffered due to 3 strikes. A former president of the firm defrauded in an embezzlement scheme. Exhibit 2 Source: Hoffman; Managing Operational Risk 4 Increasing Business Risks With the increasing speed of change for all companies in this new era, senior management must deal with many complex risks that have substantial consequences for the organization. A few forces currently creating uncertainty are: †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Technology and the Internet Increased worldwide competition Free trade and investment worldwide Complex financial instruments Deregulation of key industries Changes in organizational structures from downsizing, reengineering, and mergers Increasing customer expectations for products and services More and larger mergers Collectively, these forces are stimulating considerable change and creating an increasing risk in the business environment. Regulatory The international regulators clearly intend to encourage banks to develop their own proprietary risk measurement models to assess regulatory, as well as economic, capital. The advantage for banks should be a substantial reduction in regulatory capital, and a more accurate allocation of capital vis-a-vis the actual risk confronted. In December 2001, the Basel Committee on Banking Supervision submitted a paper â€Å"Sound Practices for the Management and Supervision of Operational Risk† for comment by the banking industry. In developing these sound practices the Committee recommended that banks have risk management systems in place to identify, measure, monitor and control operational risks. While the guidance in this paper is intended to apply to internationally active banks, plans are to eventually apply this guidance to those banks deemed significant on the basis of size, complexity, or systemic importance and to smaller, less complex banks. Regulators will eventually conduct regular independent evaluations of a bank’s strategies, policies, procedures and practices addressing operational risks. The paper indicates an independent evaluation of operational risk will incorporate a review of the following six bank areas:2 †¢ †¢ Process for assessing overall capital adequacy for operational risk in relation to its risk profile and its internal capital targets; Risk management process and overall control environment effectiveness with respect to operational risk exposures; 2 Basel Committee on Banking Supervision, Sound Practices for the Management and Supervision of Operational Risk, (Basel, Switzerland: Basel Committee on Banking Supervision, 2001), p. 1. 5 †¢ †¢ †¢ †¢ Systems for monitoring and reporting operational risk exposures and other data quality considerations; Procedures for timely and effective resolution of operational risk exposures and events; Process of internal controls, reviews and audit to ensure integrity of the overall risk management process; and Effectiveness of operational risk mitigation efforts. Market Factors Market factor s also play an important role in motivating organizations to consider ERM / ORM. Comprehensive shareholder value management and ERM / ORM are very much linked. Today’s financial markets place substantial premiums for consistently meeting earnings expectations. Not meeting expectations can result in severe and rapid decline in shareholder value. Research conducted by Tillinghast-Towers Perrin found that with all else being equal, organizations that achieved more consistent earnings than their peers were rewarded with materially higher market valuations. 3 Therefore, for corporate executives, managing key risks to earnings is an important element of shareholder value management. The traditional view of risk management has often focused on property and iability related issues or internal controls. However, â€Å"traditional† risk events such as lawsuits and natural disasters may have little or no impact on destroying shareholder value compared to other strategic and operational exposures—such as customer demand shortfall, competitive pressures, and cost overruns. One explanation for this is that traditional risk hazards ar e relatively well understood and managed today—not that they don’t matter. Managers now have the opportunity to apply tools and techniques for traditional risks to all risks that affect the strategic and financial objectives of the organization. For non-publicly traded organizations, ERM / ORM is valuable for many of the same reasons. Rather than from the perspective of shareholder value, ERM / ORM would provide managers with a comprehensive overview of other important items such as cash flow risks or stakeholder risks. Regardless of the organizational form, ERM / ORM can be an important management tool. Corporate Governance Defense against operational risk and losses flows from the highest level of the organization—the board of directors and executive management. The board, the management team that they hire, and the policies that they develop, all set the tone for a company. As guardians of shareholder value, boards of directors must be acutely attuned to market reaction to negative news. In fact, they can find themselves castigated by the public if the reaction is severe enough. As representatives of the shareholders, boards of directors are responsible for policy 3 Tillinghast-Towers Perrin, Enterprise Risk Management: Trends and Emerging Practices. (The Institute of Internal Auditors Research Foundation, 2001), p. xxvi. 6 matters relative to corporate governance, including but not limited to setting the stage for the framework and foundation for enterprise risk management. Right now, operational risk management is a â€Å"hot topic† of discussion for regulators and in boardrooms across the US. In the wake of the 2001 releases from the Basel Risk Management Committee, banks now have further insight as to the regulatory position on the need for regulatory capital for operational risk. Meanwhile, shareholders are aware that there are means to identify, measure, manage, and mitigate operational risk that add up to billions of dollars every year and include frequent, low-level losses and also infrequent but catastrophic losses that have actually wiped out firms, such as Barings, and others. Regulators and shareholders have already signaled that they will hold directors and executives accountable for managing operational risk. Best-Practice Senior managers need to encourage the development of integrated systems that aggregate various market, credit, liquidity, operational and other risks generated by business units in a consistent framework across the institution. Consistency may become a necessary condition to regulatory approval of internal risk management models. An environment where each business unit calculates their risk separately with different rules will not provide a meaningful oversight of firm-wide risk. The increasing complexity of products, linkages between markets, and potential benefits offered by overall portfolio effects are pushing organizations toward standardizing and integrating risk management. Conclusion It seems clear that ERM / ORM is more than another management fad or academic theory. We believe that ERM / ORM will become part of the management process for organizations in the future. Had ERM / ORM processes been in place during the past two decades, a number of the operational risk debacles that took place may not have occurred or would have been of lesser magnitude. Companies are beginning to see the benefit of protecting themselves from all types of potential risk exposures. By identifying and mapping risk exposures throughout the organization, a company can concentrate on mitigating those exposures that can do the most damage. With an understanding of risks, their severity, and their frequency, a company can turn to solutions; be it retaining, transferring, sharing, or avoiding a particular risk. Our thoughts on what will happen in the ERM / ORM environment in the next 5 years are: In the next 5 years, it is likely that companies will no longer view risk management as a specialized and isolated activity: the management of insurance or foreign exchange risks, for instance. The new approach will 7 keep managers and employees at all levels sensitized to and concerned about risk management. Risk management will be coordinated with senior management oversight and everyone in the organization will view risk management as part of his or her job. The risk management process will be continuous and broadly focused. All business risks and opportunities will be covered. In the next 5 years, the use of bottom-up risk assessments will be a standard process used to identify risks throughout the organization. The self-assessment process will involve everyone in the company and require individual units to focus and report on the threats to their individual business objectives. Through the selfassessment process, the organization will be able to understand loss potential and risk control by business, by profit center and by product. The individual line manager will begin to understand the loss potential in his or her own processing system. In the next 5 years, the use of top-down scenario analysis will be another standard method used to identify risks throughout the organization. Top down scenario analysis will determine the risk potential for the entire firm, the entire business, organization, or portfolio of business. By its very nature, it is a high-level representation and cannot get into the bottom-up transaction-by-transaction risk analysis. For example, because Microsoft has a campus of more than 50 buildings in the Seattle area, earthquakes are a risk. 4 In the past, Microsoft looked at silos of risk. For example, they would have looked at property insurance when they considered the risks of an earthquake and thought about protecting equipment and buildings. However, using scenario analysis they are now taking a more holistic perspective in considering the risk of an earthquake. The Microsoft risk management group has analyzed this disaster scenario with its advisors and has attempted to quantify its real cost, taking into account how risks are correlated. In the process, the group identified risks in addition to property damage, such as the following: †¢ †¢ †¢ †¢ †¢ †¢ 4 Director and officer liability if some people think management was not properly prepared. Key personnel risk Capital market risk because of the firm’s inability to trade. Worker compensation or employee benefit risk. Supplier risk for those in the area of the earthquake. Risk related to loss of market share because the business is interrupted. Michel Crouhy, Dan Galai, and Robert Mark, Making Enterprise Risk Management Payoff (New York: McGraw-Hill, 2001), pp 132-133. 8 †¢ †¢ Research and development risks because those activities are interrupted and product delays occur. Product support risks because the company cannot respond to customer inquiries. By using scenario analysis, management has identified a number of risks that it might not have otherwise and Microsoft is now in a better position to manage these risks. The future ERM / ORM tools such as risk assessment and scenario analysis will assist companies in identifying and mitigating the majority of these risks. In the next 5 years, companies will be using internal and external loss databases to capture occurrences that may cause losses to the company and the actual losses themselves. This data will be used in quantitative models that will project the potential losses from the various risk exposures. This data will be used to manage the amount of risk a company may be willing to take. In the next 5 years, companies will allocate capital to individual business units based on operational risk. By linking operational risk capital charges to the sources of that risk, individuals with risk optimizing behavior will be rewarded and those without proper risk practices will be penalized. In the next 5 years, internal audit will become even more focused on how risks are managed and controlled throughout the company on a continuous basis. Internal audit will be responsible for reporting on integrity, accuracy, and reasonableness of the company’s entire risk management process. In addition, Internal Audit will be involved in ensuring the appropriateness of the company’s capital assessment and allocation processes. Furthermore, audit will influence continual improvement of risk management and controls through the sharing of best practices. In the next 5 years, management will be looking for individuals who are skilled in risk management. Professional designations such as the Bank Administration Institute’s Certified Risk Professional (CRP) and the Information and Audit and Control Association’s Certified Information Security Manager (CISM) will demonstrate proficiency in the risk management area and will be in demand. In the next 5 years, external auditors will be required to report on the efficiency and effectiveness of a company’s risk management program. These companies will be required to disclose the scope and nature of risk reporting and/or measurement systems in their annual reports. Overall, companies will be better positioned in the next 5 years to deal with the broad scope of enterprise-wide risks. By implementing the ERM / ORM process now, companies will begin to maximize their overall risk profile for competitive advantage. 9 Bibliography Barton, Thomas L. ; Shenkir, William G. ; Walker, Paul L. Making Enterprise Risk Management Pay Off. New Jersey: Financial Times / Prentice Hall, 2002. Basel II Mandates a Nest http://web2. infotrac. galegroup. co Egg for Banks† US Banker. (July 1, 2002) 48. July 2002. BITS. BITS Technology Risk Transfer Gap Analysis Tool. Washington, D. C. : BITS, 2002. Bock, Jerome T. , The Strategic Role of â€Å"Economic Capital† in Bank Management, Wimbledon, London: MidasKapiti International, 2000. Business Banking Board. RAROC and Operating Risk. Washington, D. C. : Corporate Executive B oard, 2001. Business Banking Board. Risk Management Structure. Washington, D. C. : Corporate Executive Board, 2001. Consultative Document Operational Risk. 2001. Bank for International Settlements and Basel Committee on Banking Supervision. July 2002. http://www. bis. org/publ/bcbsa07. pdf Crouhy, Michel; Galai, Dan; Mark, Robert, Risk Management. New York: McGraw-Hill, 2001. â€Å"Elements of a Successful IT Risk Management Program†. Gartner. (May 2002. ) 9. July 2002. http://www. gartner. com/gc/webletter/bindview/issue1/ggarticle1. html Ernst Young, Integrated Risk Management Practices. Unpublished PowerPoint slides, Ernst Young: 2000. Hively, Kevin; Merkley, Brian W. ; Miccolis, Jerry A. Enterprise Risk Management: Trends and Emerging Practices. Florida: The Institute of Internal Auditors Foundation, 2001. Hoffman, Douglas G. Managing Operational Risk. New York: John Wiley Sons, Inc. , 2002. â€Å"In Brief: Ferguson Urges Investing in Risk Control†. American Banker. (March 5, 2002) 1. July 2002. http://0proquest. umi. com. opac. library. csupomona. edu James, Christopher, RAROC Based Capital Budgeting and Performance Evaluation: A Case Study of Bank Capital Allocation. Pennsylvania: The Wharton School, 1996. Jameson, Rob; Walsh, John, â€Å"The Leading Contenders,† Risk Magazine, (November 2000). 6. July 2002. http://www. financewise. om/public/edit/riskm/oprisk/opr-soft00. htm Insurance Industry – Participating companies: Allianz, AXA, Chubb, Mitsui Sumitomo, Munich Re, Swiss Re, Tokio Marine and Fire, Xl, Yasuda Fire and Marine and Zurich. Insurance of Operational Risk Under the New Basel Accord. Insurance Industry, 2001. Lam, James, â€Å"Top Ten Requirements for Operational Risk Management† R isk Management (November 2001) July 2002. http://0-proquest. umi. com. opac. library. csupomona. edu Marks, Norman, â€Å"The New Age of Internal Auditing† The Internal Auditor (December 2001) 5. July 2002. http://0-proquest. mi. com. opac. library. csupomona. ed McNamee, David; Selim, George M. Risk Management: Changing the Internal Auditor’s Paradigm. Florida: The Institute of Internal Auditors Research Foundation, 1998. National Association of Financial Services Auditors. â€Å"Enterprise Risk Management,† National Association of Financial Services Auditors. Spring 2002. 12-13. netForensics is a Web site that discusses those regulations that govern information security in financial services, healthcare and government. http://www. netforensics. com/verticals. html 10 Ong, Michael; â€Å"Why bother? Risk Magazine, (November 2000). 6. July 2002. http://www. financewise. com/public/edit/riskm/oprisk/oprcommentary00. htm Practice Advisory 2100-3: Internal Auditâ €™s Role in the Risk Management Process. March 2001. The Institute of Internal Auditors. July 2002. http://www. theiia. org/ecm/guide-frame. cfm? doc_id=73 Santomero, Anthony M. , Commercial Bank Risk Management: an Analysis of the Process. Wharton School, 1997. Pennsylvania: The Sound Practices for the Management and Supervision of Operational Risk. 2002. Bank for International Settlements and Basel Committee on Banking Supervision. July 2002. http://www. bis. org/publ/bcbs86. htm The Financial Services Roundtable, Guiding Principles in Risk Management for U. S. Commercial Banks. Washington D. C. : The Financial Services Roundtable, 1999. Verschoor, Curtis C. Audit Committee Briefing – 2001: Facilitating New Audit Committee Responsibilities. Florida: The Institute of Internal Auditors, 2001. Working Paper on the Regulatory Treatment of Operational Risk. 2001. Bank for International Settlements and Basel Committee on Banking Supervision. July 2002. http://www. bis. org/publ/bcbs_wp8. pdf 11 How to cite Enterprise Risk Management, Essays

Women And Sexism Essays (732 words) - Sexism, Discrimination

Women And Sexism We [women] are, as a sex, infinitely superior to men. Elizabeth Stanton (prominent woman suffragist) - (excerpted from One Woman, One Vote by Wheeler, pg. 58) Frailty, thy name is woman. William Shakespeare - (excerpted from Hamlet, Act I, scene 2) This quote made by Stanton in 1890 shows many of the feministic beliefs held by the women of today. And the quote made by Shakespeare holds many of the same thoughts shared by men. The battle of the sexes is prevalent everywhere and is applicable to anything. From athletics to the military, men and women struggle to beat the other, but I find it to be particularly found in the workplace. Men and women are extremely competitive with occupations, and men feel superior to women. They [men] know the statistics are more favorable to them and they would like to keep it that way. If this is true, then how do women and men share the world together without war between each other? I believe that for both sides to prevent this from occurring, they ignore many of the differences. Many women choose not to see the statistics or they do not care and accept that men are more successful than women are. The story Tales Out of Medical School, written by Adriane Fugh-Berman, which is an account about a woman that chose not to ignore the differences that faced her, shows another side to the superficial harmony. Fugh-Berman faces sexism and discrimination at Georgetown Medical School where women are the minority. She sees the various examples of sexism from her anatomy instructors to the Academic Deans. There were classes that were only offered to men, and when she tried to change that the whole course was put on hold. This of course caused extreme tension between the men and the women of this class. Just because you can't take this course, why do you want to ruin it for the rest of us? was one of the comments made by one of her male classmates. Subconsciously this man does not want this woman to succeed. Her classmates that are women and are not bothered by the sexism also shock her. In reference to this a classmate stated, Oh, they're just of the old school. (referring to the doctors that ignored the women students) This account shows the sad truth that some women are happy to accept sexism and discrimination. For the women that do not, there is a long struggle ahead. Many do not make it t o the end, or they tire of the pressures put upon them. For example, Shannon Faulkner who wished to become the first woman in the Citadel was mocked, ridiculed and harassed until she withdrew. And why wouldn't the men of the Citadel want to see a fellow human being where they take so much pride? The fact that she is a she and they do not like that a woman would be on the same level. Hilary Clinton is yet another example of a woman put down for being in control. The tabloids and newspapers tore Hilary apart for trying to take over the President's job. Why would it bother them that she may have been helping out the economy? Once gain, the president is a man, and there is no need for a woman to help. Even in my personal everyday experiences sexism is everywhere. And sadly enough, it is accepted everywhere. In recreational books women play passive roles, in movies and even TV sitcoms. For example in the sitcom Dharma and Greg, which is about a young married couple, the man is a successful lawyer from a wealthy family, while Dharma is a cute little blonde that cracks jokes. My own boyfriend will make wise cracks of how after he goes to medical school and becomes a successful doctor he will provide for me, and I won't have to do anything. Talking with some friends in the Wharton school of business, I see more sexism than I thought existed in the nineties. 78% of the Wharton undergraduates are men and they believe this is so because the business world doesn't need women. In my generation, there arise the same sexist beliefs held centuries

USA Patriot Act essays

USA Patriot Act essays To borrow a term from Shakespeare, the arguments against the U.S. Patriot Act (USAPA) are much to do about nothing. Upon exploration of major concerns regarding USAPA, the arguments made are weak and often over exaggerated claims designed to inflame those concerned with protecting civil liberties. This paper discusses the opponents' major points against USAPA and finds each assertion to be inane or false. The reality is that USAPA simply allows the investigation of all suspected terrorist activity using surveillance common to other criminal investigations and improved communication across government agencies. Opponents of the USAPA argue that the expanded definition of terrorism to cover domestic as well as international terrorism expands the type of conduct that the government can investigate too broadly (How the USA Patriot Act redefines "domestic terrorism). They believe that the government will unfairly use this broader interpretation to monitor the activities of activist organizations such as Greenpeace and Operation Rescue. And, opponents are also concerned that the government can spy or suspected computer trespassers without a court order and can add samples to DNA databases for those convicted of any crime of violence (EFF analysis of the provisions of the USA Patriot Act). The notion that the government should be restricted from investigating domestic terrorism is absurd. Americans were responsible for approximately seventy-five percent of the 335 incidents between 1980 and 2000 that the FBI has classified as suspected or confirmed terrorism (American militant extremists). USAPA defines domestic terrorism as criminal acts that are "dangerous to human life", a category that clearly warrants government investigation. And, accusations that USAPA allows the federal government to secure secret search warrants with no probable cause are not true (Herron, M. an...

5 Points on Proper Usage for Proper Nouns

5 Points on Proper Usage for Proper Nouns 5 Points on Proper Usage for Proper Nouns 5 Points on Proper Usage for Proper Nouns By Mark Nichol What’s in a name? Any one of many complications, apparently. Here are some rules about how to style proper nouns: 1. Capitalizing People’s Names Several writers and artists (or their publishers) have been identified in print with their names styled in all lowercase letters. That’s all well and good for their own books or albums, but otherwise their names should play by the rules: It’s â€Å"E. E. Cummings,† not â€Å"e e cummings.† The same goes for writer Bell Hooks, singer K. D. Lang, and others. 2. Case in Corporate and Product Names Starting in the 1990s, high tech corporations started getting high-techy with their identities and with names of products and services by employing names starting with lowercase letters, capitalizing the first letter of the second element of a closed compound, or both. (The technique had been used in isolation for several decades but became trendy only at the close of the twentieth century.) Popularly known as camel case (from the humplike uppercase letter in the middle of the word), this style was probably inspired by early programming languages, which often distinguished each new term within a word string devoid of letter spaces by capitalizing it. Technically, the style of names with both initial and medial capitalization, such as YouTube, is called Pascal case, after the programming language Pascal, while the term â€Å"camel case† applies to names such as eBay with lowercase initial letters and medial capitalization. Sometimes, a fine line is drawn between honoring these unconventional conventions and unnecessarily indulging corporate branding. In the case of camel case and Pascal case, retain the aberrant styling, but some style guides recommend recasting sentences to avoid beginning them with a word starting with a lowercase letter. 3. Names as Distinguished from Logos However, distinguish between company names and their logos: Omit the exclamation point when referring to Yahoo unless you’re effusive or indignant. Also, a simple hyphen can stand in for the stylized asterisk in E-Trade’s name, and though the company’s copyright statement uses all uppercase letters, nothing requires you to apply this inelegant form. And never apply a symbol for a registered trademark or service mark to the name of any corporate entity or its products unless your company is partnering with that firm and the partnership dictates such a courtesy. 4. Initials in People’s Names Should you insert letter spaces between a person’s first and middle initials? As with many other niggling details, it depends on the type of publications. Most books and many magazines separate initials (â€Å"A. B. See†), while less formal publications don’t; newspapers tend to be minimalistic. The same rule holds for more than two initials (â€Å"J. B. S. Haldane†). But when a well-known figure is identified by first, middle, and last initials alone, omit both letter spaces and periods: â€Å"JFK.† 5. Particles in People’s Names When referring to a person with a name that includes such particles as De, Von, and Mac or their variants, consult to a biographical dictionary to confirm the capitalization style and whether they are separated from the name’s principal element; most of them (including Mac) can vary in both regards from one person to another. Whether to retain the particle when referring to someone by last name alone is a complicated issue; the answer varies by language, by tradition, and by publication. (In the case of a lowercase particle traditionally retained, when the surname appears alone, such as a subsequent reference to Vincent van Gogh, preserve this style except at the beginning of a sentence.) If you’re writing or editing for a particular publication, consult the appropriate style guide about this issue, or trust the publication’s editors to conform your usage to their style. If you’re self-publishing in print or online, investigate current usage and make your own choice. Either way, be consistent. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Grammar category, check our popular posts, or choose a related post below:Addressing A Letter to Two PeopleHow to spell "in lieu of"20 Names of Body Parts and Elements and Their Figurative Meanings

Ekphrastic Poetry Assignment Example | Topics and Well Written Essays - 500 words

Ekphrastic Poetry - Assignment Example In the first pairing, we see Peter Bruegel the Elder’s Landscape with the Fall of Icarus. W.H. Auden wrote Musee des Beaux Arts based on this painting. While it is probably a fine poem—W.H. Auden being a famous writer—the only real reference that caught my attention was in the second line of the poem where he referred overtly to the Dutch masters. Truthfully, Landscape wasn’t really an attention-grabbing piece of art either in several respects, although the colors were enjoyable. Additionally, even though the allegorical references to Icarus in both the painting and the poem are duly noted, such references were lost on this writer—much as one may adore art and poetry. The second poem was just about as engaging. The most interesting part was in the third stanza when it seemed as though the author was alluding to the fact that one day these men in the picture would be buried in snow at the top of the hill—true, a bit macabre, but it captured th e imagination. Mingus in Shadow was simply depressing. It’s not enough to hear about and see the picture of someone who is dead/dying—but, to hear that they were obese in life and then to talk about the grandiosity of their souls in relation to their body image—seems a bit obtuse and oversimplified as a metaphor. Rainer Maria Rilke’s poem was absolutely brilliant in so many ways.