The Death Penalty Essays (785 words) - Penology, Criminal Law

The Death Penalty In the past, people have invariably felt that if they had been wronged in some way, it was his or her right to take vengeance on the person that had wronged them. This mentality still exists, even today, but in a lesser form because the law has now outlined a person's rights and developed punishments that conform to those rights, yet allow for the retribution for their crime. However, some feel that those laws and punishments are too lax and criminals of today take advantage of them, ie. organized crime, knowing very well that the punishments for their crime, whether it be murder, theft, or any other number of criminal activities, will be so negligible that it may be well worth their risk. Although in the past, the number of crimes that were subjected to capital punishment, defined simply as the death penalty for a crime, were outrageous. Amendments were made to reflect the changes in the society's views on the morality of capital punishment. That resulted in the narrowing down of the list of one hundred crimes to twelve, punishable by the death penalty in 1833, and in 1869 it was cut down yet again to just three: treason, rape, and murder because of violent nature of these crimes. These crimes, even today, are still viewed as violent and should be punished with the highest degree of discipline available to achieve justice. After much public pressure, capital punishment was suspended on a trial run in 1967. This proved to be ineffective, because even though the law stipulated that crimes such as treason or the murder of law enforcement agents, were still to be subjected to the death penalty, the federal cabinet continued to commute those criminals from death to life sentences, hence the law was not being followed and justice was not being served. This soon was followed with capital punishment's abolishment in 1976, as a formal declaration of what was already happening or rather what was not happening. It is felt that because of this and the fact that there has not been an execution since 1967, that today's current form of punishments are no longer a sufficient deterrent for such serious crimes and have contributed to a ever rising crime rate. So, this is where the real issue of whether or not capital punishment should exist begins and such a controversial issue could be best understood if we looked at capital punishment in a perspective of how it fulfils or does not fulfil society's ideas of punishment : Is not one of the four fundamental objectives behind punishment retribution? The sentencing objective based on the principle of an-eye-for-an-eye, which means that what one person has done to another should also be done to that person in return. Is that not justified, especially in cases of premeditated murder of another human begin, another life? Does capital punishment not act as a deterrent? Does it not threaten with an imposition of a penalty for the commission of an act considered wrong by society? What about segregation? Does capital punishment remove criminals from society so that they cannot repeat their offence or commit other offences against society? Doesn't capital punishment follow the above three objectives well Most people would say it does. But then, of course, people who support the abolishment of capital punishment would ask about rehabilitation, the re-training of prisoners with an employable skill for use when they are released. Not only is it expensive to re-train and house criminals, but with some, it is just not possible, because they are hardened criminals and will not change. For those people, it is just not worth the effort and the taxpayers' money to even attempt to reform them. Also, another point to consider is that today prison terms are not enough. Many people are allowed out early on parole and/or remission resulting in criminals just serving one third of their prison terms and being released back into society. This type of quick release cannot adequately retribute someone's death nor deter others strongly enough from repeating the same offence that the criminals already have. As you can see, capital punishment fulfils our society's checklist of what a punishment should do, especially the objective of retribution. Many people who want capital punishment restored, have also clearly stated that without a suitable punishments for crimes, justice will never truly be served to those that have suffered damages or losses. People will think less and less of the law and start resorting to private law and order. This would not only create chaos but raise the crime rate further with people running around on private vendettas. Even with these facts and arguments, the federal government refuses

Irony Analysis of the Gift of the Magi Essays

Irony Analysis of the Gift of the Magi Essays Irony Analysis of the Gift of the Magi Paper Irony Analysis of the Gift of the Magi Paper Chase Tidmore Intro To Lit Analyst Ms. Sheperis 10/20/11 Irony Within â€Å"The Gift of the Magi† â€Å"Irony is a disciplinarian feared only by those who do not know it, but cherished by those who do†, Soren Kierkegaard knew what he was talking about when he said these famous words. â€Å"The Gift of the Magi†, written by William Sidney Porter, often known by his pen name O. Henry. It is a short story depicting literary elements of irony, romance, and Porters sense of twist endings, and is all about a poor couples Christmas. Because of the end results of Della and Jims sense of self sacrifice, â€Å"The Gift of the Magi† displays almost a word for word example of what irony is defined as. Irony is a rhetorical literary device, literary technique, or situation in which there is a sharp incongruity or discordance that goes beyond the simple and evident intention of words or actions. In this sense, the world irony would mean speech that means the opposite of what it is actually intended to be used. Irony could be broken into a few different categories: verbal irony (most commonly sarcasm), dramatic irony, and situational irony. For something like situational irony, the actions or events in a story will usually be enacted by a specific character and unbeknownst to the character, their action will have an effect that is completely opposite of their desired intentions. â€Å"Romeo and Juliet† was a great example of this, because the lovers tried to fake their deaths, only to actually die in the process (this is, of course, a very morbid example). Porter does a much better example of situational irony in â€Å"The Gift of the Magi† when he writes his twist ending to fit into ironic story at the end. The Gift of the Magi† is a great example of irony, situational irony to be specific. If one were to look again at what â€Å"situation irony† is, Merriam-Webster would define the term as â€Å" irony involving a situation in which actions have an effect that is opposite of what was intended, so that the outcome is contrary to what is expected†. This is laid out first when Della lear ns that Jim had bought her a beautiful set of tortoise shell combs with bejeweled rims for her (once) beautiful hair. This example is a textbook example of what situational irony is. Della had spent hours and hours looking for a way to make any money so that she could buy Jim the perfect gift, but the only way she could make any money was to get rid of her most prized possession: her hair. Leaving the story at this would have been a great romantic endeavor, but the author decided that he would display a masterful element to change the entire dynamic of the tale by having Jim bring home a set of beautiful combs for her. Now lets recap, situational irony is when actions that have an opposite of the intended effect. So with that definition repeated, the readers see that even though Author William Porter spent a majority of the story having Della selling her â€Å"rippling and shining. cascade of brown waters†, only so that her majestic combs be deemed useless. However, the ironic twists do not end with a set of tortoise shell combs. It has already been established that the irony was evident with Della gift from Jim, but what about his gift? Della sold her hair so she could buy a â€Å" platinum fob chain simple and chaste in design She sells her brown locks of hair so her husband can have the perfect accessory to his most prized possession, his generations old pocket watch. So Della may have a useless gift of combs that she can not use for her short hair, but at least she was able to get a great gift for Jim right? Before that is answered, do not forget that Porter spent a little time explaining that Jim only made 20 dollars a week. So how did he manage to buy the most beautiful set of c ombs when they were clearly out of reach of his budget? Simple, he sold his watch so he could get enough money, only to receive a chain for said watch. That was the irony train making its shipping route come in full circle. Once again, irony is an action that is that is opposite of its intentional effect. What the author presented the audience with is a young poor couple that literally sold their most prized possession, hair and a pocket watch respectively, out of love for one another, only to receive accessories for the very items they just sold. This is something that is usually only seen on TV sitcoms, for example, when two people wear the same outfit in an embarrassing fashion. It was clearly dumb luck (or misfortune, depending how the reader reads it) that on the same day each lover sheds their precious material good to do what they feel is more important, to make their respective spouse happy, no matter what. Situational irony is any actual irony involving a situation in which action have a have an effect that is opposite from what was intended, so that the outcome is contrary to what is expected. The situational irony set in place Porters world of Jim and Dellas house is almost tangible it is so obvious. What the audience has is a wife who sold her hair to buy a chain for a pocket watch, only to receive combs that were bought from the earnings of said sold watch. The story ends on a quirky note, a note that one might feel could be a deep and meaningful lesson in life. Jim tells Della of the ironic situation that they had put themselves into, only to follow up by asking her to put the pork chops on the oven for supper.

Frankenstein Summary

'Frankenstein' Summary Mary Shelley’s Frankenstein is a Gothic horror novel about a man named Victor Frankenstein who discovers the secret to creating life. He uses this knowledge to form a hideous monster, which becomes the source of his misery and demise. The novel is presented as an epistolary nested narrative, following the first-person accounts of Captain Walton, Victor Frankenstein, and the monster himself. Part 1: Walton’s Opening Letters The novel opens with Robert Walton’s letters to his sister Margaret Saville. Walton is a sea captain and a failed poet. He is traveling to the North Pole in pursuit of glory and has high hopes for geographical and scientific discoveries. On his journey, he spots what looks like a giant rushing by on a sledge; soon after, his ship passes an emaciated and frozen man floating on a slice of ice. The crew rescues the stranger, who reveals himself to be Victor Frankenstein. Walton is impressed with his wisdom and cultivation; they talk and Walton states that he would sacrifice his own life for the sake of a greater good, and for lasting glory. Frankenstein then launches into his own story as a warning of the dangers of such a life philosophy. Part 2: Frankenstein’s Story Frankenstein begins his tale with his happy upbringing in Geneva. His mother, Caroline Beaufort, is the daughter of a merchant and marries the older, reputable Alphonse Frankenstein. She is graceful and affectionate, and young Frankenstein has a wonderful childhood. He loves reading about the secrets of heaven and earth- natural philosophy, alchemy and the philosopher’s stone. He seeks glory and wishes to uncover the mystery of life. His close childhood friend, Henry Clerval, is his opposite; Clerval is curious about the moral relations of things, and is fascinated by tales of virtue and chivalry. Frankenstein’s parents adopt Elizabeth Lavenza, an orphaned child of Milanese nobility. Frankenstein and Elizabeth call each other cousin and are brought up together under the care of Justine Moritz, another orphan who serves as their nanny. Frankenstein praises Elizabeth much as he does his mother, describing her as saintly, and admiring her grace and beauty. Frankenstein’s mother dies of scarlet fever before he leaves for the University of Ingolstadt. In a state of heavy grief, he throws himself into his studies. He learns about chemistry and modern scientific theories. Eventually he discovers the cause of life- and he becomes capable of animating matter. He works in a feverish excitement to build a being in the likeness of a man, but proportionally larger. His dreams of beauty and fame are crushed when his finished creation is, in fact, monstrous and completely repulsive. Disgusted with what he has created, Frankenstein runs out of his house and happens upon Clerval, who has come to the University as a fellow student. They return to Frankenstein’s place, but the creature has escaped. Utterly overwhelmed, Victor falls into an intense sickness. Clerval nurses him back to health. Frankenstein eventually decides to travel home to Geneva once he recovers. He receives a letter from his father, which relays the tragedy that his younger brother, William, was murdered. Frankenstein and Henry return home, and upon reaching Geneva, Frankenstein goes for a walk to see for himself the place where William was killed. On his walk, he spies the gigantic creature in the distance. He realizes that the creature is responsible for the murder, but he is unable to prove his theory. Justine, who was framed by the monster, is convicted and hanged. Frankenstein is heartbroken. He turns to nature for isolation and perspective, and to forget his human problems. Out in the wilderness, the monster seeks him out to talk. Part 3: The Creature’s Tale The creature takes over the novel’s narrative and tells Frankenstein his life story. Soon after his birth, he realizes that all people are terrified of him and hateful towards him solely because of his appearance. Chased away by villagers throwing stones, he runs to the wilderness where he can hide from civilization. He finds a place to call home close by a cottage. A family of peasants lives there peacefully. The creature observes them daily and grows very fond of them. His empathy for humankind expands and he longs to join them. When they are sad, he is sad, and when they are happy, he is happy. He learns to speak through observation, and calls them by their names: Mr. De Lacey, his son Felix, his daughter Agatha, and Safie, Felixs love and the daughter of a ruined Turkish merchant. The creature teaches himself to read. With literature, he displays a human consciousness, facing the existential questions of who and what he is. He discovers his ugliness, and manages to disturb himself deeply when he spies his own reflection in a pool of water. But the monster still wants to make his presence known to the De Lacey family. He talks with the blind father until the other peasants come home and are terrified. They drive the creature away; he then journeys to Frankenstein’s home, and happens upon William in the wood. He wishes to befriend the boy, believing his youth would make him less prejudiced, but William is just as disgusted and fearful as anyone else. In a rage the monster strangles him and frames Justine for the murder. After completing his story, the creature asks Frankenstein to create a female companion with similar deformities. The creature has come to terms with the fact that he won’t be able to have any relationships with humans. He believes his malicious acts are a result of his isolation and rejection. He gives Frankenstein an ultimatum: the master will either deliver a creature companion or all he holds dear will be destroyed. Part 4: Frankenstein’s Conclusion Frankenstein again picks up the narrative. He and Elizabeth make their mutual love known. Frankenstein then travels to England with Henry, so that he can finish his engagement with the monster away from his family and friends before he marries Elizabeth. They travel together for some time, and then separate in Scotland; Frankenstein begins his work there. He believes the creature is stalking him and is plagued by what he promised to do, as he is convinced that creating a female creature would lead to a race of devils. Ultimately, he fails to deliver his promise, despite the creature confronting him. The creature threatens that he will be with Frankenstein on his wedding night, but Frankenstein will not create another monster. He journeys on to Ireland and is immediately imprisoned. The creature has strangled Clerval, and Frankenstein is believed to be the suspect. In jail, he becomes deathly ill for several months. His father comes to his rescue, and when the grand jury validates the proof that Frankenstein was on the Orkney Islands when Clerval was killed, he is liberated. He and his father travel home. He marries Elizabeth and prepares to battle the creature, remembering the monster’s threat. But while he is readying himself, the monster strangles Elizabeth to death. The creature escapes into the night, and shortly afterwards, Frankenstein’s father dies as well. Frankenstein is devastated, and he vows to find the creature and destroy him. He follows the monster up to the North Pole, where he comes across Walton’s expedition, and thus rejoins his narrative to the present. Part 5: Walton’s Concluding Letters Captain Walton ends the story as he began it. Walton’s ship is trapped in the ice, resulting in the deaths of some of his crewmen. He fears mutiny; many want him to turn southward as soon as the ship is free. He debates whether or not to forge ahead or turn back. Frankenstein urges him to move forward with his journey and tells him that glory comes at the price of sacrifice. Walton ultimately turns the ship around to return home, and Frankenstein passes away. The monster then appears to find his creator dead. He tells Walton of his plan to go as far north as possible and die so that the whole sordid affair can finally end.

Science Meets Real Life Essay Example | Topics and Well Written Essays - 1750 words

Science Meets Real Life - Essay Example By using the precepts of the scientific methods, it follows that critical thinking in essence is employed. This is not limited to the study of science but to all other disciplines which delves on sought-after solutions to problems. Through the testing and answering of personal questions which leads to plausible answers scientific thinking is used. This is in essence thinking correctly and coming up with reliable answers in most aspects in life. The process of scientific thinking and critical thinking is one and the same in practice and theory. It may only be within the grounds of who uses what wherein the difference lies but both are used by human beings regularly (Schafersman, 1997). Upon arriving at home and finding out that the light would not turn on begins the process of scientific inquiry. Faced with the recognition of a change within the surroundings of the house, the initial progression within the method was conceived, the acknowledgement of a problem. Simple logic suggests that one should exhaust efforts to locate and solve the problem. The mature thing to do is to remedy the dilemma sensibly and not be infantile about the situation. When a problem arises, it only becomes aggravated when not dealt with the utmost perception of common reason. In this case the problem encompasses a number of things. The fact that the lights would not turn on is the main problem. Second, it is already well within the night and I would be hesitant about calling a handyman for reasons that include, one, I would assume it is already past their working schedule and two, I have some confidence I may be able to solve the problem myself. Another problem that comes with it is that the problem is located in part of the house which is dark and would therefore be a further complication on the matter at hand. On this stage the most conceivable thing to do is to go back in memory and think of the most relevant details

Public and Private Culture Essay Example | Topics and Well Written Essays - 750 words

Public and Private Culture - Essay Example There is a great danger of limiting one self to the boundaries of home just like a caterpillar in a cocoon for the rest of its life. The world is a garden of different flowers with various colors, aroma, beauty, and form that needs to tread and the school is just one among the many forms that we dip our feet into. One gets educated not to stay home and encapsulate himself/herself to the four corners of knowledge rather, a person moves out of the home, from the school, educated and fully equipped to conquer the world not with guns and wars but with the knowledge and skills to a better today. It should be an educated college student’s goal to be propelled to the world outside the home, family or culture where there is much to be discovered and even more to be had. Miss Moore’s effort in â€Å"The Lesson† to draw the children from their little world to go out and look at the big picture is highly commendable especially with her effort to bring them out from their li mited knowledge as their poverty allows them to have. There is a lot to learn and so many times, one is not fully equipped with the needed knowledge and skill to perform well in the society like Miss Moore despite the education that she claimed. Understanding the many facets of society by considering different cultures as well as the different roles of every individual gives a better view and comprehension of one’s rights as well as responsibilities.It is quite impossible to separate private from public culture just as it is difficult to separate public from private life.

Ethical Examination of the Mortgage Meltdown

Ethical Examination of the Mortgage Meltdown The subprime mortgage crisis, commonly referred to as the mortgage meltdown, unveiled itself after a sharp increase in home foreclosures beginning in 2006, which unfolded seemingly out of control by 2007. American spending declined, the housing market plunged, foreclosures continued to climb and the stock market was shaken. The subprime crisis and resulting foreclosures prompted discord among consumers, lenders and legislators all bound to one another by a web of complex financial engineering. The event represents a turning point in the world economy and our culture as fundamental societal changes are needed to rebuild the relationship between the U.S. government, Wall Street institutions, and the average American. Unethical decisions from various parties have altered the way future business will be conducted as the current economic and political policies were unable to confront the crisis before it unraveled. This paper is focused on investigating the unfavorable effects of the curr ent financial system structure established on unbreakable bonds of linkage among American communities and financial institutions. Initially, many financial experts including the International Monetary Fund (IMF) believed the crisis would be limited within the arena of mortgage lenders who had accumulated these subprime loans. But as time progressed there was an evident spread into the prime commercial and residential real estate markets as well as an impact on consumer credit. In an April 2008 Global Financial Stability Report, the IMF criticized the excessive risk-taking and weak underwriting undertaken by under-capitalized institutions and recommended measures including ratings systems reform and a change in compensation schemes for managers of financial institutions (Smith, 2009, p. 2). According to the IMF, there was a collective failure by financial institutions for not properly managing risk. The New York Times columnist Michiko Kakutani (2010) would add there were flawed mathematical models that most financial executives did not really understand themselves (Kakutani, p. 1). Essentially, Wall Street firm s turned subprime mortgages into exotic, toxic financial products by making a fortune laundering and reselling, and they were enabled in doing so by the very ratings agencies that were supposed to police risk (Kakutani, p.1). Even as the quality of the underlying loans appeared sketchy, few could have expected how the severity of the subprime fallout would threaten the U.S. economy to the degree it has so far. The idea behind subprime loans is borrowers who do not meet the credit requirements for prime mortgage loans are required to pay higher interest rates and fees than prime mortgage loans. Since a significant portion of new home ownership expansion stems from buyers with a lower income compared to historical norms, the initial down payment is relatively low. This creates more risk for lenders and requires higher interest rates attached to the monthly mortgage payment. The difference between the social and economic impact of historical home ownership compared to the subprime situation is the earlier loans created real ownership and wealth, which could be passed along to future generations. The illusion of wealth in subprime lending has led to instability within families and communities as many low-income borrowers were enticed by the ease of becoming a first-time homeowner (Muolo, 2008, p. 277-303). Its important to consider how subprime borrowers came from lower income families. Due to lower savings, they are unable to pay the typical 20% down payment on a house, thus requiring near 100% financing. This new form of lending allowed families who had previously been excluded from home-owning to participate in affordable housing programs. It was even referred to as creative financing. The common question at hand is identifying who is to blame for allowing the capital market economy to create irresponsible home ownership. Much of the subprime homes never yielded real wealth as outright ownership of the home was highly unlikely. Subprime lending to low-income people illustrates how leaders in power are able to raise awareness to followers that home ownership is a moral obligation. The leaders have demonstrated their ability to raise followers consciousness about what is and ought to be important to them (Ciulla, 2003, p. 220). The idea of home ownership even became a political agenda to make people feel like they deserve a new home. Comparisons could be made that our government was almost behaving as a Jim Jones leader. Jim Jones appealed generally to impoverished and minority individuals who felt oppressed and besieged by a hostile world. Similarly, the government allowed subprime lending to target individuals who were historically turned away. ETHICAL ANALYSIS OF MARKET CONDITIONS Understanding the ethical behaviors of the subprime fallout is rather challenging as many dynamics stem from the individual as well as from a societal level. First of all, a new research paper conducted by three respected Irish economists point to a common factor of irrational exuberance among the real estate bubbles experienced in America and Ireland. In both countries, buyers and lenders convinced themselves that real estate prices, although sky-high by historical standards, would continue to rise (Krugman, 2010, p. 2). Consequently, this prevalent belief cannot be explicitly linked to an individual as society collectively accepted these trends. Additionally, the common social viewpoint that rising incomes would continue to accommodate the rising price of homes is not any individuals responsibility. Perhaps, the forecasting models used by economic experts were excessively optimistic, but this does not make them morally irresponsible. Robert Shiller (2008) argues the housing bubble that created the subprime crisis ultimately grew as big as it did because we as a society do not understand, or know how to deal with, speculative bubbles (p. 3). It is difficult to affix an ethical verdict to something as uncontained as the market. However, a slice of moral accountability should be ascribed to key leaders who have control in shaping the market. There was a form of regulatory imprudence as the people charged with keeping banks safe didnt do their job (Krugman, 2010, p. 2). While many regulators looked the other way, the bigger issue is the ideology based on free-market fundamentalism where deregulation was thought to strengthen the financial system. The Federal Reserve chairman, Alan Greenspan, was criticized for maintaining low interest rates that further provoked subprime lending. Due to many stakeholders in the subprime story, blame has been placed on many factors such as a growing dishonesty among mortgage lenders, increasing greed among securitizers, hedge funds, and rating agencies (Shiller, 2008, p. 4). But, we can identify that Greenspan had direct control over key monetary policies such as interest rates, with foreseeable impacts. Justifying whether poor judgment was made in these decisions illustrates a moral question of his accountability. Many others question how well the government addressed regulation policies and the freedom given to banking institutions to issue reckless lending. It is also logical to believe the government essentially allowed an over inflation of homes in the market. Their openhanded efforts in rescuing weakening financial institutions beginning in 2008 with Bear Stearns, then AIG, and many others may indicate a form of duty the government has to help make amends for allowing too many Americans to have a mortgage they are unable to afford. The American financial system is filled with firms that disdain the need for government regulation in good times but insist on being rescued by the government in bad times (Kakutani, 2010, p. 2). Nevertheless, prescribing all of the liability upon the government or Federal Reserve is too unbalanced. The complex nature of the economic conditions related to the subprime crisis is larger than what any single stakeholder could instigate. Helping to fuel new mortgages, brokers sought to attract home-buyers with no money down agreements. Some likely acted of the premises that housing values and real incomes would gradually keep climbing to create a win-win situation for both parties. Again, to assign a moral indiscretion to a specific mortgage broker supplied with the best available public information to guide potential buyers is unsupported. It is not appropriate to directly attribute their actions to the subprime meltdown. But, as we continue to analyze behaviors we will see how many individuals took advantage of the economic zeal that fueled the subprime crisis (Cohan, 2009, p. 92-108). Much of what has been discussed points to the common belief of increasing prosperity and as well as a general unsupported belief in maintaining such high growth. There is quite a fine line between having sustained optimism for a bright future and a greed-like attitude that tries to hide the reality of an eventual economic decline. Would it be acceptable to morally blame society as a whole for overlooking the apparent signs of danger? Not fully. Yet, as more players in the market are outlined in the following sections we will see how the rules of the game may have deliberately hurt others. ETHICAL ANALYSIS OF KEY PLAYERS To expand upon the market condition section previously discussed the moral responsibility in the transactional loan process is analyzed next. There is a duty for each party to have transparency and truthfulness when completing a deal. Ideally, the consumer is obligated to pay loans they agree upon with the broker. As government leaders portray the promise for all Americans to have prosperity, home ownership became a reality for the most economically impoverished people. We begin to see a fabrication of falsely portrayed subprime loan applications by consumers captivated by these lucrative opportunities to have a new house. It would seem morally wrong for a person to falsify information, as most people should only want to acquire a loan they can manage with financial responsibility. However, the self-interest of satisfying their desire overcame the normal way of managing finances. There also presents a moral hazard to the broker who works for commission by getting people to sign agree ments and has no financial liability afterwards. Is the broker seeking the best interests in protecting customers? We realize the lack of concern by many brokers who overlooked the details. Ironically, as many of the brokers did not fully consider the unethical transactions, they are now the ones out of a job (Andrews, 2009, p. 133-148.). Furthermore, the lenders or banks are presented with ethical considerations as to how well they scanned applicants before providing loans. Were loan requirements not strict enough on purpose? It would seem a bad business practice to grant loans knowing customers will have late or no payments towards the principal of the loan. As we have learned, the banks ended up selling the bad loans to investors. The analysis up to this point seems to be pointing toward the idea that owning a home is becoming a morally acceptable idea and a basic right for everyone. Envision subprime loans as being a prescription drug. When placed in the hands of a diagnosed person in need of the drug, it can bring about social good, but if given to a teenager, who has no need for it, the drug can lead to destruction. This illustration shows how subprime loans require proper structuring to provide the most good. ETHICAL ANALYSIS OF FINANCIAL INSTITUTIONS AND INVESTORS Containing the misfortunate subprime loans solely between the lender and consumer could have benefited and alleviated the crisis if the loans were able to be paid by the new homeowner. But, due to lenders not making any profit on the loans they are forced to sell bad mortgages by packaging them in the form of collateralized debt in hopes of selling to investors who believe the value of the mortgage assets will increase. Again, we are confronted with the moral issue of how transparent these debt packages are represented. Do investors deserve better warning of the extreme risk of buying mortgage debts? Who is ultimately ethically accountable for selling bad debt? Everyone seemed to be caught up in this euphoria where no one expected anything bad to happen. To break down some of the moral culprits of passing along bad loans, many financial agencies were persuading clients to invest in bad debt, while at the same time these organizations sold off the loans to avoid any further losses. The apparent misuse seems morally wrong as they knowingly caused harm to investors. The rating agencies are also tossed into the blame game. Wall Street firms knew how to game the system; they knew how to get the rating agencies (which were eager to collect big fees for their services) to ineptly rate dangerous bonds (Kakutani, 2010, p. 2). Who is to protecting the financial stability of the economy by inaccurately rating risky subprime loans? Too many people assumed continued economic growth and overlooked the likelihood of the bubble bursting (Mason, 2009, p. 81-90). Overall, much of the calamity of the mortgage meltdown is due to the collective failure of society in a business and government sense to foresee the collapse, making it difficult to assign re sponsibility. PSYCHOLOGICAL IMPACTS The various examples presented have illustrated the psychology involved in the real estate bubble (Schiller, p. 4). From Paul Masons (2009) book we not only have witnessed capitalisms tendency to expand the power of the market to push for the maximum freedom (p. 171), but the tendency for a double movement as ascribed by the Hungarian philosopher Karl Polanyi. As free market expansion oftentimes reduces the relationships between families, nations, and social classes to a mere commercial level based on money, a counter-tendency arises to defend common human values and community. The dynamics of the economy will require a willingness of ordinary people to impose limits, standards and sustainability on capital (Mason, p. 172). The current form of our markets have possibilities for limitless growth, yet the often selfish and unequal society in which we live in has created repeated financial distress. PHILOSOPHICAL IMPLICATIONS As many people point to banks for significantly contributing to the economic downfall, understanding how philosophers approach the situation is important to further our awareness of the problem. The premise of Immanuel Kants categorical imperative is based on the morality of the act, not outcomes, meaning an act may be done for the right reasons, even if it has bad consequences (Ciulla, 2003, p. 95). So, how can a lending institute be judged as unethical for issuing loans to help customers purchase a home? The morality failure, based on this stance would not fall on the bank. But, consider Kants statement that all rational beings stand under the law that each of them should treat himself and all others never merely as a means but always at the same time as an end in himself (Ciulla, 2003, p. 107). If the bank fails to appropriately evaluate the clients ability to pay back debt, then they are treating the client as a means for their own financial benefit and are eventually leading the ir clients to an ethical failure. On the same token, the brokers who never bothered to properly perform background checks on their clients were also satisfying their own financial desires, rather than helping customers make sound financial choices. John Stuart Mills utilitarian approach emphasizes multiplying happiness, or making life better for the majority of stakeholders in an organization, a community, or a country (Ciulla, 2003, p. 143). Therefore, Mill would view the lending institutions as providing moral value to the individuals seeking to gain home ownership. The general economy and government polices were allowing and expanding housing programs, in which there was a collective agreement that having people buy homes was a good strategy for the country. We now realize the greatest good often looks different in the short term than in the long term. In retrospect, too much emphasis may have been placed on the present and not enough concern on potential consequences of too much lending. The multiplication of happiness for those involved in subprime lending only lasted until the foreclosures and collapse of the banking industry began. Just as Kant and Mills viewpoints speak of the moral behaviors among the parties involved, Ayn Rand offers insight by arguing that every man is an end in himself, he exists for his own sake, and the achievement of his own happiness is his highest moral purpose (Ciulla, 2003, p. 47). Her position seeks happiness proper to man and does not advise seeking happiness through fraudulent schemes as this approach will lead to frustration. She believes moralitys purpose isnt to command you to sacrifice your interests for the sake of others but rather to teach you the rational values and virtues happiness in fact requires. (Ghate, 2009, p. 3). In hopes of restoring society to the place we were before the collapse, Rand would not place the primary blame on the people, but the immoral system in which they had to act. There should be a reevaluation of what genuine self-interest consists of and whether the pursuit for happiness is moral. DEATH PLEDGE As mortgages have become a norm in the American society, there is an underlying meaning to the origin. The word mortgage comes from the Latin words, mort and gage. Mort means death, and gage means a pledge to forfeit something of value if a debt is not repaid. The basics of mortgages have remained the same; high value real estate which cannot be funded by most people results in borrowing money to buy property. Many people are enslaved to meet the death pledge they signed. Borrowers should be aware of what they are doing and realize it is not always justifiable to blame the banks, as they ultimately cannot force an individual to take on a mortgage obligation. (Marples, 2008, p. 2) There seems to be a moral dilemma confronting families who still owe more on their mortgages than what their home is worth. Should they sacrifice to pay their mortgage even though their homes value may not recover for several years? Or should they simply walk away (Merrel, 2009, p. 2)? If they made an agreement with a lender to pay the loan, then on the surface it would seem morally right to continue paying for the home. After understanding the significance of a death pledge, we could argue mortgages are not ethical documents, they are legal contracts (Merrel, 2009, p. 2). So, if a person decides to stop paying their mortgage, they simply pledge the ownership of the home back to the lender. Nevertheless, realize a mortgage contract entails a promise to pay and walking away from a promise in a way leads to a breach of ethics. It seems that determining whether it is morally justifiable in walking away has to be examined on a case to case basis. In respect to the people who lost their homes due to unemployment or other valid reasons, they have a right to be upset for how the careless decisions of others hurt their American Dream. It has turned into just that, a dream, as society allowed people to believe they deserve a home they cannot afford. John Rawls, a Harvard philosopher, offers insight to the economic and moral issues societies confront regarding distributive justice. He argues as self-interested rational beings governed by principles that oppose discrimination, everyone should have equal liberties and fair distribution. He speaks of inequalities among social class wealth as only being just if and only if they are part of a larger system on which they work out to the advantage of the most unfortunate representative man (Ciulla, 2003, p. 158). Why should we be making life better for those who are already well of with nice homes and do nothing for those who are already underprivileged? Perhaps, as in the case of subprim e lending, there was an outreach by leaders to provide equal opportunity to the least advantaged persons. In order to learn from the U.S. financial crisis, we have to enforce action by people who see it as their duty to protect the American people. We have to focus as much on the regulators as on the regulations (Krugman, 2010, p. 2). Financial consumers need protection from being taken advantage of or else we will have failed to learn from our recent history and can expect to repeat it again. References Andrews, E. (2009). Busted: Life Inside the Great Mortgage Meltdown. New York, NY: W.W. Norton Company, Inc. Ciulla, J, ed. (2003). The Ethics of Leadership. Belmont, CA: Wadsworth. Cohan, W. (2009). House of Cards: A Tale of Hubris and Wretched Excess on Wall Street. New York, NY: Doubleday Publishing Group. Ghate, O. (2009, June). The Economy Needs Ayn Rand. BusinessWeek. Retrieved February 24, 2010, from businessweek.com/debateroom/archives/2009/04/the_ economy_ nee_1.html Kakutani, M. (2010, March). Investors Who Foresaw the Meltdown. New York Times, March 15. Krugman, P. (2010, March). An Irish Mirror. New York Times, March 8. Marples, G. (2008, September). The History of Home Mortgages. TheHistoryOf. Retrieved February 25, 2010, from thehistoryof.net/history-of-home-mortgages.html Mason, P. (2009). Meltdown: The End of the Age of Greed. London: Verso. Merrel, S. (2009, September). A Thorny Dilemma: The Ethics of Mortgage Walkaways. SmartNestEgg. Retrieved February 27, 2010, from smartnestegg.com/blog/2009/9/4/a- thorny-dilemma-the-ethics-of-mortgage-walkaways.html Muolo, P., Padilla, M. (2008). Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis. Hoboken, NJ: John Wiley Sons, Inc. Shiller, R. (2008). The Subprime Solution: How Todays Global Financial Crisis Happened, and What to do About it. Princeton, NJ: Princeton University Press. Smith, V. (2009, April). IMF: Mortgage Crisis May Cost $945bn Worldwide. InfiniteUnkwown. Retrieved March 1, 2010, from infiniteunknown.net/2008/04/09/imf- mortgage-crisis-may-cost-945bn-worldwide

Introduction Paper Essay

I am 30 years old and have been taking college courses over the last 11 years. I have always attended on a part time basis and I have never taken any summer courses. During the 11 years I have taken about two years off, and have officially changed my major three times. I have a lot of work experience that lines up with my current Business Management Major. I enjoy learning about Human Resources and have always thought I would enjoy a position in the Human Resources department. Academic Background When I started this journey I wanted to be an accountant, after my first semester at Saint Paul College a I realized, I did NOT want to be an accountant! The classes were very hard and a lot of work, there was just way too much to learn. I had a passion for children and growing up I always wanted to be a teacher, so I switched into a major in Child Development (CD). I made it through about two semesters of CD courses and learned that this was not the right path for me either. The instructors repeatedly reminded the students that careers in the CD field are not about making money (because there is not a lot of money in this field) but rather about working with the children. I thought I DO want to make money and instead of working with kids I would just have some of my own later in life. I also realized that if I completed this program, in the end I would have an education but no work experience. At this point I had no idea what I was going to get a degree in. I looked at my resume and realized that I had experience in operations management, Import/Export, various management positions at fast food restaurants, and extensive customer service experience. I came to the conclusion that a degree in Business Management would benefit me most, as it will ensure I have the education to match the experience. In 2009 I graduated from Saint Paul College with an AA as well as an AS in Business Management and in 2010 I transferred to Metro State University to complete my BS. This Course & Past HR Courses I took an Introduction to Human Resource Management course in 2004 of which I received an A grade, but it did not satisfy this course as required for the completion of my BS in Business Management. Since I have already taken a similar course, I do hope I can obtain another good grade, and possibly learn something I may have overlooked previously. I look forward to hearing the perspectives and ideas on how to handle different situations from the other students. More about Me I have been with my boyfriend for almost 10 years; we have a one year old daughter and plan to try for another after this semester is over. We have three large dogs ranging in age from 6-15, and once had a bearded dragon. We live 45 miles north of the twin cities in Harris – a town of about 1000 people. I work full time at BAE Systems in Fridley as a government property administrator, with previous positions held in Accounts Payable, Travel Accounting, and payroll. Conclusion As you can see my path through college has been a confusing one, and has had its failures and successes. Now that I am on the right path, I hope to be a successful business person. With my customer service and payroll experience, I have always thought I would be a good fit for an HR representative. I am a new mom and eager to expand my family further! I commute to work and have held several positions within the company. I am just an average person working my way through life and trying to obtain an education to make the quality of my life even better.