# April 8, 2018 – joyceanndavis

Day: April 8, 2018

Goldman Sachs

Goldman Sachs

The stake holder of Goldman Sachs are it stockholders, investors and those who conduct various financial transactions with the company and have any vested financial in the company. The impact that Goldman Sachs has had on it’s stakeholders has taken a n financial toll on many as there investments were lost the public perception of Goldman Sachs and many companies like them has changed dramatically due to the errors of their ways. When a company as large as Goldman Sachs gets accused of fraud and bad investments when they were previously thought of and sound business investments it send a shock to the financial markets around the world.

The damage to Goldman Sachs reputation extends beyond the immediate crisis, because this type of business depends on the reputation that precedes them making them now a target of ridicule in the business world. Many different commentators on the Goldman Sachs scandal say there were no ethical values from there top CEO’s that they made a gamble and careless decisions and poor choices for the company. “As a global investment bank and financial intermediary, Goldman Sachs integrates advice, financing, market-making, co-investing and asset management with its risk management capabilities to serve a broad range of largely institutional clients”. ww. cbsnews. com With that being said Goldman Sachs has a certain level of responsibility to the stakeholders and to the general public they are doing business with to conduct themselves in a fair and honest manner while working within the best interest of the clients. Since Goldman itself made a profit by betting against the mortgage investment which it sold to its customers the guilt was quite evident as more information was discovered. “The instrument in the S. E. C. case, called Abacus 2007-AC1, was one of 25 deals that Goldman created so the bank and select clients could bet against the housing market”. ww. newyorktimes. com Once the abacus deals fell in value Goldman and their hedge funds made a profit on their negative bets. As for clients who bought into this scheme, they lost billions in their investment dollars. The financial sector needs an overhaul in recent years there have been many scandals and schemes that have shook the financial world and exposed more than they have wanted the public to know. Securities and Exchange Commission filed a civil lawsuit against Goldman and Sachs. The product was new and complex but the deception and conflicts are old and simple” said Robert Khuzami, Director of the Division of Enforcement. www. sec. gov/news/press The SEC’s is continuing their investigation on the practices of investment banks such as Goldman and Sachs due to the distressed housing market. The SEC is stating that Goldman Sachs VP is responsible for Abacus 2007-1, once the Abacus portfolio downgraded, investors in the liabilities of Abacus allegedly lost up to one billion dollars as a result of this scheme, while Goldman Sachs profited in its earnings.

Goldman Sachs had wrongly and knowingly permitted a client that was betting against the mortgage market to influence the mortgage securities which included a large investment portfolio. After the SEC announced it would bring a civil suit against Goldman and Sachs there stock fell to more than ten percent within the first half an hour of trading, once the market closed Goldman Sachs had lost almost ten billion of the company’s market value. Many other firms were also on the alert to see if they too would be involved in scandals such as Goldman Sachs and were taking precautionary measures to avoid the same fate.

Goldman Sachs made a statement claiming that they had been involved in any scheme to sell clients mortgage linked securities that they did have confidence in or knew of possible failure simply blaming the collapse of the house market as a contributor to the failed plan…. Goldman Sachs is also claiming to be victims stating they had no first hand knowledge of the possibility of the housing market collapsing in the future , assessing that Goldman Sachs has lost 1. 7 billion has a total result of this also claiming there standards to be high with regards to their clients and the way they conduct business.

Goldman Sachs has made claims that they never made or created products which were intended to fail, they feel they have done no wrong. Federal consumer laws help to protect the interest of consumers from becoming victimized by unethical businesses. Factors that may have contributed to Goldman Sachs being non compliant are the ways in which business was being conducted non traditional ways of doing business in a virtual world allowed for many things to go unnoticed.

Strategies were not utilized to expose that various risk may not have played out to be as effective as they may have previously been projected to be. Goldman Sachs went around the issue delivering a lot of impenetrable information rather than direct answers relating to their involvement in this issue. Moving “consumer protection” to the Federal Reserve is a way to make sure political pressure is deflected. www. cnn. com The states are generally the first to respond to consumer protection laws they ensure that the problem does not spiral out of control putting the consumer and public at risk.

Goldman Sachs was given a subpoena for failing to turn over key documents as evidence and also not providing information on key employees and not making them available for questioning by federal investigators. Due to the government calling for further investigation into the Goldman Sachs scheme employees have since began to provide information as requested, it will be determined if these individuals will be charged with anything at all al they may not have had direct involvement but having the knowledge of this information may present some consequences.

Many of Goldman Sachs employees and connections have very close ties to government man of their major players have spoken on their behalf to government it may all relatively be related to the billions that are involved in this case as many of their investors want to see justice and many other want to make more money the end factor is the dollar figure behind this entire issue. What Goldman did to its clients may have been unethical by many standards but according to them it was not in their code of ethics so therefore it was business as usual claiming that the client was always their major concern.

Ethical issues are present throughout Goldman Sachs and surrounding the entire Abacus deal, executives and advisors were aware, somehow they seemed to have formed a way to rationalize there unethical actions in doing business. Questions presented by the SEC in regards to the ethical factors in this case such as did they know that the investment would fail and intentionally direct clients to do business under false pretenses, was there adequate information disclosed and the plain facts stated in providing clients with sound and truthful information.

In 2003 Goldman Sachs had prior issues with their ethical standards; they admitted that they had violated the anti-fraud laws. Goldman Sachs paid over 9. 3 million in penalties, as it appears Goldman Sachs is no stranger to unethical behaviors in business. Many of Goldman Sachs former supporters are taking aim against Goldman Sachs through challenging public comments and in some areas public protest have taken place against not only Goldman Sachs but companies which are involved in much of the same business, these public outcries have been damaging to the reputation of the company.

Although Goldman Sachs is under investigation by the SEC a recent poll was done and the majority felt that Goldman Sachs and not done anything thought to be consider criminally wrong many people polled felt that it was just a business deal gone, but thirty six percent felt that what was done was morally and ethically wrong a bad for business. The economy had continued to be hit with major financial scandals Goldman Sachs will just become a part of history as time passes and the economy rebounds Goldman Sachs and companies just like them will continue to do business in unethical manners and make attempts to get away with it.

With the government stepping into business more often to examine there everyday operation we can only hope that these scandals will merely be a thing of the past. The corporate culture at Goldman Sachs has been described as almost cult like due to the close knit relationship of its employees. Fitting in is important to its employees, and in recruiting prospective staff they aim to find people who are willing to do things the Goldman Sachs way. There is something terribly wrong about a country like ours where you make billions of dollars by making nothing and producing nothing but taking advantage of an economic situation, Sen. Christopher Dodd, D-Conn. When ethics fail in the commercial markets, more and more stringent regulations are certain to follow. It’s the only way to assure the integrity of financial and commercial transactions. www. thecorporateeye. com “The organization culture at GS was driven by its 14 business principles. Of these, putting clients’ interests topped the list.

In the 1980s, GS adopted the practice of refusing to represent any company involved in a hostile takeover bid. GS believed that the company being targeted might have been its client in the past or had the potential to be one in the future. This was the result of the legacy left by Goldman who stressed hard work and the importance of absolute integrity. Walter Sachs, nephew of Goldman, remarking on the ways in which Goldman conducted his business, said, “It was a small business done in a small way – but with accuracy and exactitude. ” www. icmrindia. org

In the financial crisis many companies are victims to this problem but there are also many companies who reap the rewards of these disasters, when government step in to bail out these companies to aid in correcting the problem you have to second guess is it correcting or contributing to creating more problems in the long run. The ethical standards by which these companies claim to stand behind seems to be far from what they have printed in their handbooks as we the public continues to see these problems repeat themselves in various financial institutions along with other large corporations.

Corrective actions should be the enforcement of anti-trust laws that already exists creating a non partisan team of outsiders to create a diverse and new regulatory environment for the future. The President will need to make a push for stronger regulations within the financial industry. If large financial institutions no that there will be severe penalties not only financial but criminal as well there may be limitations to the extent of what they will do to make a profit. “The key legal question is whether this was a “material” fact that Goldman Sachs was obligated to tell IKB and other prospective investors.

There are of course broader questions in play: the wisdom of “derivative” financial instruments that are side bets rather than actual investments; the failure to regulate such instruments aggressively in the past and the question of how they should be regulated now; the extent to which investment banks in general and Goldman Sachs in particular can be blamed for the financial meltdown of 2008-2009; the culture of investment banks like Goldman Sachs and why that culture led first to their lionization and then to their demonization”. ww. psandman. com Prompt corrective action making financial institutions subjected to strict supervision and authority, enhancement in risk monitoring and risk management and more systematic prudential oversight of these activities. References Apple: t. o. (n. d. ). BusinessWeek – Business News, Stock Market & Financial Advice. BusinessWeek – Business News, Stock Market & Financial Advice. Retrieved http://www. businessweek. com CNN. com – Breaking News, U. S. , World, Weather, Entertainment & Video News. (n. . ). CNN. com – Breaking News, U. S. , World, Weather, Entertainment & Video News. http://www. cnn. com Goldman Sachs. (n. d. ). Goldman Sachs. http://www. goldmansachs. com SANGER, D. E. (n. d. ). The New York Times – Breaking News, World News & Multimedia. The New York Times – Breaking News, World News & Multimedia. http://newyorktimes. com Sandman, P. M. (n. d. ). Peter Sandman website: Home page. Peter Sandman website: http://www. psandman. com secgov. com. (n. d. ). secgov. com. http://www. secgov. com

Street Gang V Family Unit

Street Gang V Family Unit

STREET GANGS VERSES FAMILY UNIT Street Gangs Verses Family Unit MaryMargaret Turner July 9, 2010 SOC1001 Instructor Sheila Farr South University Online Street Gangs Verses Family Unit We will compare and contrast different components of culture within a family unit and a street gang to see if they are very much different, or basically the same in their components of culture. Each group has components used to comprise their culture. In order to compare and contrast these components, we must first identify them. We will start with a family unit. Symbols – Each family unit has symbols that help identify them. Our surname can be thought of as a symbol of identity. Many people proudly have them engraved, or painted onto items, thereby identifying the family unit into which they belong. Some families even have crests and coat of arms that go way back in history, identifying their origins. * Material objects – Most families strive to own material objects that they prize. A nice car, a fast boat, spacious house to live in. Many work long and hard to afford these things. Language – Families use a certain style of talk or “pet” phrases that can identify them as belonging together. Maybe they say, “and everything” after almost every sentence. They pass this habit down to their children and each generation finds themselves saying it. * Behavior – Family behaviors vary widely from one family to another. Some families are known for their warm smile or cheerful disposition. Others may be known as grouchy complainers. Nevertheless, they are all behaviors that identify who they belong with. Street gangs also have components of culture.

Let us now look at those: * Symbols – Street gangs have a wide variety of well know symbols they use to identify them. It could be a certain color shirt or cap worn, a cap worn at a certain slant, specific hair style or color streaked into it, bandanas worn in various places and ways. * Material objects – Gangs “work” hard to obtain very nice things. Usually, this “work” is dealing drugs where a lot of money is made fast, but dangerously. Another way is to simply “help” yourself to what you want, in other words, steal it.

You can often find gang members driving cars they should never be able to afford except that drugs pay well. * Language – Street gangs have their own lingo or style of talk. To those on the outside, it may seem as though they are speaking a foreign language. This talk helps preserve their unity and draws them together. It also identifies their membership into a particular gang. * Behavior – Gang behaviors are well known. Much of it involves violence, street wars and selling drugs. Now that we have identified their cultural components, we can already see they have similarities.

They both have the same components of culture, but they each use them in different ways to meet their needs. We will now look at three ways family units and street gangs differ. They are: 1. When it comes to symbols, families usually view this as nostalgic, something to be cherished from generation to generation. Gangs, however, view them as power. Being identified by their symbol instills fear in those they meet. This fear in turn provides them with power otherwise not possessed. 2. Although both “work” hard to get their possession, they definitely do not go about it in the same way.

For the most part, families come by their items fairly and honestly. Street gangs very rarely do. They may even kill in the process of getting what they want. 3. The vast majority of families have behavior that is not violent. Members of the family would not dream of hurting or killing a member of the family, no matter what the reason is. Not so in a street gang. If a member feels threatened or betrayed by another, it is not unheard of for them to beat or kill them. You may have noticed I left out language in my list of differences.

I do not find there to be a great difference. Both groups are identified by the language they use in much the same way. Just as most people do, I gave little consideration to the similarities family units have with street gangs in the component of culture. It came as a surprise to me that there are so many. However, the similarities become insignificant when looking at the differences. Families try to build up and encourage good within their family, whereas gangs use violence and intimidation to get what they want and need.

Mental Retardation

Mental Retardation

American Association on Mental Retardation, Mental Retardation: Definition, Classification, and Systems of Support (1992). The definition of mental retardation is the below average level of intellectual functioning, usually defined by an IQ of below 70 to 75, combined with limitations in the skills necessary for daily living. Daily living skills include such things as communication, the ability to care for oneself, and the ability to work. The definition of mental retardation has evolved over the years.

Prior categorizations of mental retardation, defined solely by IQ, have largely been abandoned in favor of an approach that looks at how much support the retarded person needs in various areas of his or her life at any given time. Such support can range from intermittent help in such things as finding housing or a job, to pervasive, daily, lifelong help in all areas. Most mentally retarded children are capable of learning new things, both in and out of a formal school setting, but they may learn at a slower pace than other children.

Schools are responsible for providing an appropriate education for retarded children. Many teachers and parents feel that the practice of mainstreaming, or inclusion, which places such children in standard classrooms for at least part of the day, helps them to feel more a part of society and helps others to better understand their special needs and capabilities. I believe that this information is very useful and gives us insight on how to teach those students with mental retardation.

I believe that just because a child is mentally retarded that they should not be excluded from the classroom. They should be in the same environment as other students for the most part. They will more than likely need a paraprofessional to assist them in the classroom. This article was great at explaining the basics of mental retardation and analyzing mental retardation in the education environment in the classroom. I can utilize the information that I have gained from this article in many ways in the classroom and in my profession.

I am planning on working with the younger children from birth to kindergarten and I can use this article on mental retardation to help in understanding what it is and how to know when someone is mentally retarded. The article and review of the article has also opened my eyes to teaching those in the education environment that are mentally retarded and gives a whole new outlook on things. I would include the mentally retarded children in classroom activities and lessons just as I would any other child in the classroom. I would never treat them different than any of the other students.

Court System Structure Ii

Court System Structure Ii

The State of California’ court system is divided into two systems, Federal and state; as does the state of Texas. The state of California has two types of courts, Trial courts and Appellate court (sc self service, 2010). California’s trial courts are also known as Superior courts, which handle court cases ranging from criminal cases; that include felonies, misdemeanors as well as civil cases, including family law and juvenile cases (sc self service,2010).

There are 58 Trial courts in California, one for each county (sc self service, 2010). The state of Texas separates their courts up into four different levels. The state of Texas has local trial courts, which are Justice of the Peace courts; these are user friendly courts, not requiring a lawyer (Houston-criminal lawyer, 2010). The local trial courts are for small claims cases not exceeding $5,000. 00, and class C misdemeanors (sc self service, 2010).

At the Trial court level they also handle traffic violations, and fine only criminal offences (sc self service, 2010). The county courts are where they handle misdemeanor cases which includes case like possession of Marijuana, DWI, small theft and assault (sc self service, 2010). The county courts can hear any case no matter the size (sc self service, 2010). The District courts of Texas are where they handle felony cases, family law cases and many other civil cases (sc self service, 2010).

Once a case has been heard in either a District or County court, it can be appealed in an appellate court (sc self service, 2010). Looking at both of these court systems, I would have to say that the state of Texas seems to be more effective. The breakdown of the courts is what appealed to me more, having a different court for non serious or violent misdemeanors; so not to flood the courts with petty cases. The State of California’s courts are flooded with so many different cases that get handled in the same court room.

Persuasive Essay

Persuasive Essay

Persuasive essay to your Employer Maria Cummings-Pinole Comm. /105 May 22, 2010 Margaret Fletcher Persuasive essay to your Employer Tuition reimbursement program is one thing that every company should consider to offer to their employees. The program will not only benefit employees but the company as well. Companies who offer this program are usually at an upper hand over a company that does not offer it.

Three advantages for a company that offer tuition reimbursement program are, more knowledge will boost the productivity if the company, drawing high performing employees to your company, and contributing to the overall success of your business and its profits. This program has many advantages that employees should take serious. This allows employees to obtain a free education, work schedule consideration, increase knowledge, new skills acquired, and advancement opportunities. Tuition reimbursement attracts new employees to company.

Companies can use this program to attract a potential employee or keep a good employee in their company. It is important for a company to send their employees to training because the data and technology used in everyday business world is changing rapidly and due to the ever changing outlook of the business world, employees need to acquire new information and knowledge in order to improve productivity and the success of the company or firm. As your company grows, you the employers have a great interest in making sure the employees have the knowledge and skills that will help them succeed at work.

By earning a higher degree in a field related to your job, you can better employee. Additionally employees are more likely to stick with your company when they are relaying on their employers to fund or pay for their education (allbusiness. com). Tuition reimbursement will make your employees work harder and more loyal to your company. So in order words, tuition assistance can benefit the company as a motivation to gain success, and to increase and maximize productivity.

Companies that offer this program usually offer a contract, which will state the strict policies and requirements in order to benefit from the program. Most companies allow employees to take classes that only relate to work, while others do not. Employees most also work with the company for certain amount of years and also maintain a grade of B or better in the courses they take. As a company you can establish a tuition reimbursement program by informing employees what and how much you’ll reimburse, who are eligible, classes you’ll reimburse, and how the company will help the employee learning efforts.

Deciding what and how much you will reimburse is going to be on the classes the employees take and if you will be paying for all fees and books and the grade the employee receive for the course. Determine whether are not you will be reimburse full-time and part-time employees, and establish terms. As an employer, clearly spell out the classes you’ll pay for. Once the classes start, decide how much help you will be able to give your employee to balance work and school. Consider letting employees work flexible hours during exams and deadlines.

Many companies are concern about paying for an employee’s tuition if they leave the company within six months or a year from receiving the training but there are ways to avoid this. Have all employees’ sign an agreement acknowledging that if they receive tuition reimburse and don’t remain on the job for at least six months subsequently to the education or training, they must reimburse the company. If they do decide to leave the company will have the right to deduct the tuition costs out of the employee’s paycheck.

Companies, without tuition reimbursement and providing their employees with opportunities to get trained, it will be impossible to increase the educational and professional level. This is dangerous for companies because if an employee’s does not have the education they need to achieve the goals within the company, it will be not only on employee, who will have to take the responsibility but also the company for not giving the employee the training they need. As a result, the productivity of the company will decrease because of the employees.

Your company most keep in mind that, knowledge and information are the most valuable products. In actuality, the investments in education are the most important and successful since a company doesn’t simply reimburse tuition of its employees but it invests in its own future since, nowadays, knowledge and information is really important. In other words it means when a company assist with on employees tuition, the company will be investing in its company’s development, since the training and education of employees could ot only learn and obtain new skills and knowledge but they can also produce new knowledge. As a result, the general educational level and the opportunities to successfully work hard and improve the progress within the company will increase. In conclusion, taking in all the information and facts that are mentioned above, it is possible to conclude that, companies should take an important interest in tuition reimbursement and adult learning of their employees, since education and learning is important for the development and the progression of their company and firm.

Employees cannot pay for their tuition, books, fees and their bills at home and also further their education without a company’s help, and finally it is a great investment in the future of the company. In a way, it is important that, in this business world, it is up to the company or firm to decide whether to save money and do not assist with the tuition of their employees and if not they will constantly fail in business.