Sexual Harassment At The Workplace Essay - 2275 Words

Clint Patterson Dr. Matthew Fitzsimmons PHL 250 3 May, 2016 Sexual Harassment in the Workplace Since before my time, in the 1980’s, American court systems have already understood sexual harassment as a kind of sex discrimination. It is obvious that the legal development has drastically improved for the sake of all working women. However, Vicki Schultz, a Yale Law School professor, in her article â€Å"Rethinking Sexual Harassment,† criticizes how sexual harassment is considered at present. Schultz’s first critique to the matter, is that in focusing on sexuality, our approach to sexual harassment is much too narrow, and it overlooks the nonsexual forms of gender hostility that many women experience at work. Nonsexual forms of gender hostility include: condescendence of women’s performance or ability to master the job, providing patronizing forms of help in performing the job, or withholding the training, information, or opportunity to learn to do the job well. Second, Schultz argues that our approach to sexual haras sment is also too broad because it targets even the harmless sexual conduct as harassment whether or not it discriminates against women. Such as, urging â€Å"zero-tolerance† policies and â€Å"cultural sensitivity† approaches that stumble onto the side of prohibiting sexual conduct that might personally be taken as offensive. Third, Corporate policies in particular, intend to include sexual harassment law, and have pushed the limits to completely disinfect the workplace so thatShow MoreRelatedSexual Harassment At The Workplace1697 Words   |  7 PagesSexual Harassment in the Workplace Eva L. Mendez-Zacher MG260, Business Law I 28 September 2014 Dr. Anita Whitby Abstract I’m conducting a study on Sexual harassment in the workplace. Sexual harassment is possible in all social and economic classes, ethnic groups, jobs and places in the community. Through this study I hope to clarify the common misconception that sexual harassment is an isolated female problem. Although the majority of the cases reported are in fact male on femaleRead MoreSexual Harassment At The Workplace990 Words   |  4 PagesIt is great to have a workplace where you are friends with your coworkers. But what happens when coworkers talk about other coworkers in a sexual context. Two male coworkers talking about female staff where coworkers in the area can hear. Your manager suggests that they can help you earn a promotion if you go out with them. This puts employees in awkward situations where they might not know if this is considered sexual harassment. If it is, an employee maybe unsure what to do about it. AccordingRead MoreSexual Harassment And The Workplace963 W ords   |  4 PagesSexual Harassment in the Workplace There are federal laws put in position to prevent sexual harassment in the workplace. Most employees sometimes don’t even realize what sexual harassment is are when they are committing this violation. On the flip side an employee may not realized when they are being sexually harassed and when is the appropriate time to speak up. Education on sexual harassment has increased within the workplace as cases are more public and fines are getting steeper. In this researchRead MoreSexual Harassment And The Workplace1396 Words   |  6 PagesEssay #3 Sexual harassment in the workplace has always been an issue, even before women were introduced into the working environment in the twentieth century. In recent years this issue may have become more publicized than before and not as overlooked as it used to be, but it unfortunately affects people all across the nation, both men and women alike. From that fast food chain where your kid is working at, to that fortune 500 company you’ve never heard of, it is happening. Over the last severalRead MoreSexual Harassment At The Workplace2180 Words   |  9 PagesSexual harassment is among the many factors that make employees uncomfortable at the workplace. This vice is a sum of all the unwelcomed advances of sexual nature that employees go through from their colleagues or superiors. There is no gender limit to sexual harassment since both males and females may be coerced to engage in some things for sexual favours. Sexual harassment takes both verbal and physical form. Since managers are responsible for the provision of a comfortable working environmentRead MoreSexual Harassment At The Workplace1253 Words   |  6 PagesSexual Harassment in the Workplace What cause sexual harassment in the workplace? Sexual harassment is defined as discrimination towards sex. It is unwanted verbal and/or physical contact between two human beings, however, in this case I would like to focus on the workplace (co-worker or supervisor). Based on Civil Rights Act of 1991, there has been an increased amount of incentives for employer’s prohibition conducts of sexual harassment. How people perceive and evaluate sexual harassmentRead MoreSexual Harassment And The Workplace1697 Words   |  7 PagesSexual Harassment in the Work Place: Building More Awareness In today’s society, sexual harassment in the workplace has become a problem. This problem should have more attention and awareness provided to help stop these situations from happening. Sexual harassment can happen anywhere, at any time, and to everyone. It does not discriminate and effects all ethnicity, genders, age, and races. Due to the larger number of cases presented in courts today, sexual harassment in the workplace continues toRead MoreSexual Harassment At The Workplace1359 Words   |  6 Pagesfor any company to legally define what constitutes sexual harassment in the workplace, but there are many ways to define sexual harassment. Everyone has different views and tolerance levels towards sexual harassment. When a case of sexual harassment occurs in a workplace, however, it comes down to how the courts define sexual harassment. The Supreme Court defines sexual harassment to be unlawful in two ways. â€Å"The first type involves sexual harassment that results in a t angible employment action;† thisRead MoreSexual Harassment And The Workplace Essay1466 Words   |  6 PagesSexual Harassment in the Workplace Introduction Sexual harassment is an ethical problem in the workplace. Sexual harassment is defined as unwelcome verbal, visual, or physical conduct of a sexual nature. It can affect your working conditions and creates a hostile work environment. It can also affect productivity, satisfaction, retention, patient care and safety, your physical well-being and mental health. It can also cause low staff morale, increased absenteeism and attrition of staff. This studentRead MoreSexual Harassment And The Workplace1608 Words   |  7 Pagessubject to sexual harassment ranging from sexually degrading comments to physical acts of sexual assault. Unfortunately for the women working at the mine, that was only the beginning of the harassment they’d experience. If this was not damaging enough, women were deterred, if not, outright sanctioned for reporting instances of harassment to management. It is reasonable to assume that culture at Pearson Taconite and Steel fostered a hostile work environment for women. Though the issue of sexual harassment

About Steroids Free Essays

Many people have had their lives ruined by the use of illegal steroids, yet the desired effects are so overwhelming that people tend to overlook the consequences. Steroid users believe taking anabolic steroids will enhance their performance, strength, size,etc. They regard the use of them as legitimate as any other aspect of training. We will write a custom essay sample on About Steroids or any similar topic only for you Order Now To begin with, the term  «anabolic  » means  «to build tissue, » therefore anabolic steroids tend to increase constructive metabolic pathways within the body. Also, anabolic steroids are synthetic derivatives of the natural male sex hormone, testosterone. Testosterone was the first steroid developed, a natural occuring hormone in many plants and animals. The first clinical use of testosterone occured in 1958 when physicians injected it into underweight and ill patients to simualte weight gain. The first reported use of steroids in a non-medical setting occured during World War II. Steroids were adminstered by Nazi doctors into German soldiers to enhance their aggressiveness. The Soviet Union noted the Nazis’ use of the drug and recognized that enhanced aggressiveness, increasing in strength, and size could be desirable in athletic competition. The Soviets experimented with steroids in the early 1950’s and it is believed that they were used in the 1952 Olympic games. The introduction of steroids into the United States is often attributed to the late Dr. John Ziegler, the team physician for the United States weightlifting team at the last Vienna World Power lifting championships. A Soviet physician told Ziegler that some of the members fo the Soviet team were using testosterone as an aid to enhance their strength. Ziegler was impressed with the results and began conducting some studies on American lifters. The results were the development nd introduction of the steroid Dianobol, an anabolic steroid with fewer masculinizing properties than testosterone. Dianobol became well known in the athletic world. By the 1956 Melbourne Olympic games, steroid use had escalated to the point that many Olympic competetors in the strength events were either using them or were aware of their performance ehancing abilties. Anabolic steroids are all derivatives of the male sex hormone testosterone. With the use of steroids a person will receive two types of effects from the use. The first is the androgenic effects or masculinizing. These are the unwanted ffects such as the enlarging of the prostate, growth of male sex glands, deepening of the voice, and increased facial hair(other steroids were developed in an attempt to separate these effects of testosterone from the anabolic). The other effect is anabolic effects, the wanted effects. There are three major benefits that are wanted from steroid use and they are: Frist athletes will attain a greater increase in lean muscle mass and strength when it is used with a combination of rigorous training and the drug. The second major benefit of the steroid use is that the athlete’s body suffers less breakdown. This decrease in muscle breakdown and ecovery time permits more frequent training sessions at higher intensity and for longer periods of time. The third benefit is the increased aggresiveness they are believed to simulate. This increased aggresssiveness may drive athletes to train harder and longer without the usual fatigue. Other positive effects of using steroids is increases in; storage of muscle glycogen, blood volume, a general boasting of the immune system, and the reduction of body fat percentage. The effects are maintained as long as the athlete continues the steroid use. Anabolic steroids also have a number of potentially harmful side effects. The introduction of synthetic hormones results in decreased levels of other natural hormones. This worsens acne and accelerates baldness. This can also result in the decrease production of sperm and testosterone by the testes, which can lead to atrophy of the testes. Increased incidents of liver tumors and abnormal liver funtions have been noted in patients using anabolic steroids. Liver, prostate, and testicular cancer have been linked to steroid use, particularly oral steroids. Increases in high density cholesterol is noted in people using steroids, suggesting hardening of the arteries, high blood pressure, and blood-clotting disorders. Also, athletes using steroids seem to be suffering many more muscle and tendon injuries. Some doctors wonder if it is the drug-induced brittelness of the muscle or tendon or the heavier weights that is being lifted. Others think the increased aggressiveness causes lifters to ignore warning signals from an overworked body and they train harder than they should. In adult women, severe masculinizing effects have been documented including hair growth onthe cheeks and the chin, male patern baldness, irreversible deepening of the voice, shrinkage of the breast size, uterine atrophy, and menstrual irregularities. In pre-adults, anabolic steroids can cause the premature closure of the bone growth plates resulting in shorter structures. Another major side effect includes what has been popularly called  «roid rage ». For training and competition, the increased aggressiveness has been classified as a benefit of steroid use; however, with increasing dosage, the increased aggression will have an adverse effect. Wild aggression and paranoid delusions are common in some steroid users, and they may also suffer from major depressions and peroids of spontaneous violence. Steroids can also be both physicaly and psychologically addictive. Physcially many many athletes experience severe depressions following periods of not taking the drug, similar to that of any other drug addict. Psychologically, steroid use can be compulsive and unstoppable in what has been termed by the medical community as  «reversed anorexia ». The steroid users have an uncontrollable obsession with being big instead of skinny. This obsession results in the continuing or increased usage of anabolic steroids. The use of steroids in the United States has been estimated as high as one million persons, or one in every two hundred-fifty people. The major reason for his large amount of useage is that sports have envolved from recreational pastime to a lucrative money-making venture at the professional level. Speed and strength have opened the door to financial opportunities and a bond has been formed between sports and steroids. The concept of sports as a fun recreational activity has been surpassed by sports as a business. Many athletes will sell their bodies to steroids for an opportunity to win a spot on a professional roster or winning a gold medal in the Olympics. Since the introduction of steroids to sports, the reason for their use has remained the same; the pursuit of the winning edge. How to cite About Steroids, Essay examples

Effect Of Affirmative Action Essay Example For Students

Effect Of Affirmative Action Essay During the Civil Rights Movement there was many successes and some failures. The Civil Rights Movement consists of many different things. The one event that I believe has failed is some ways is Affirmative Action. Affirmative action programs promote equal representation of minority groups in the American workplace and public schools. It seeks to remedy the effects of discrimination of specific groups through the force of laws and regulations. In practice, affirmative action can be passive efforts or an aggressive approach to correct historic patterns of racial discrimination. Unfortunately, through the years, affirmative action has changed from equal opportunity for everyone to preferential treatment of minority groups. The original concept involved only passive efforts such as encouraging institutions to make deliberate attempts to include minorities in employment and in college enrollment. In recent years, affirmative action has become an aggressive effort that requires and measures minority representation. As a result, affirmative action has produced undesirable problems in the American culture. President John F. Kennedy first used the term affirmative action in 1961. He signed an Executive Order that stated the contractor would take affirmative action to ensure that applicants are employed, and employees are treated during their employment, without regard to their race, creed, color, or national origin. Affirmative action was created to give minorities equal educational and employment opportunities. It ahs helped many minority people attend institutions of higher education and obtain better job opportunities, but it has failed to reach the goal of alleviating racial discrimination. Racial discri mination is prevalent in the hiring practices used by businesses in America. Today, the best qualified applicant applying for a job will not necessarily be the applicant that is hired. Supporters of affirmative action insist that minorities are trainable even if they are not the best-qualified candidates. Opponents of affirmative action argue that minorities who get the jobs do not get them on their own merit but obtain them because of the color of their skin. Some employers have to resort to hiring under qualified applicants over qualified applicants in order to satisfy an affirmative action program. Failure to meet numerical goals may cause some businesses to suffer consequences. Affirmative action should be used to increase opportunity, determined by ability. It should not guarantee personal success because of color. Some white people today also feel the effects of racial discrimination. They contend that employers are in fact discrimination against white applicants on the basis of race. Some opponents of affirmative action feel that whites are experiencing reverse discrimination. They feel an innocent third party is paying for the historical wrongful acts of others. Affirmative action programs were established to fight racial discrimination. That need is still here today because affirmative action has not achieved its purpose. Affirmative action is an imperfect solution to the problem of racism. However, it is important to recognize that affirmative action has contributed greatly to the diversification of schools and businesses. It has played a big part in making American far richer in opportunity for minority groups than it was years ago. If it could be utilized as originally intended, people of different genders, races and ethnicity would be treated as equals in the American workplace. The ideal of a color-blind society is an honorable and worthy goal. Bibliography:

Joseph Stalin Essays - Old Bolsheviks, Marshals Of The Soviet Union

Joseph Stalin Joseph Stalin was a Georgian Marxist revolutionary leader and later dictator of the USSR. He was born in Gori, Georgia. He studied at Tiflis Orthodox where he was expelled from in 1899. After joining a Georgian Social Democratic organization in 1898, he became active in a revolutionary underground, and he was twice sent to Siberia. As a leading Bolshevik he played an active role in the October Revolution. In 1922, he became general secretary of the Party Central Committee, a position that he held until the day of his death. Stalin also occupied other key positions, which enabled him to build up enormous personal power in the government. This is a key point in Stalin's life where he was enormously confident about himself which led him to do things that were no acceptable in today's standard life. After the death of Vladimir I. Lenin in 1924 Stalin became leader of the Soviet Union where he made many changes to agriculture and industry. He believed that the Soviet Union was one hundred years behind the West and that they had to catch up as quickly as possible. This is where the idea of his ?Five Year Plan,? came about. The five-year plan basically got the people involved and motivated them into a modern life. From the 5-year plan, 25 million farms were produced which were only big enough to feed the families that were harvesting them. The more successful peasants were called the Kulaks. Along with the five-year plan, Stalin launched a campaign for the ?collectivization of agriculture,'' where millions of peasants were recognized as part of the civilization. Between 1934 and 1938 he built up a government, and armed forces in which millions of people were imprisoned, exiled, or shot. In 1938 he signed a Non- Aggression Pact with Hitler which bought the Soviet Union two years after the involvement in World War Two. After the German invasion in 1941, the USSR became a member of the Grand Alliance, and Stalin, as was leader, took the name of Generalissimo. He took part in the conferences of Tehran, Yelta, and Potsdam that resulted in Soviet military and political control over the liberated countries of postwar E and C Europe. Much of the blame of the concentration camps and German invasion are blamed on Adolph Hitler, but in the lost shadows is this man, Joseph Stalin. Stalin is responsible for some concentration camps and exiles that went on with the slaves. Joseph Stalin was an evil man. The party of slaves that he started, the Kulaks, (meaning that they had a little bit more than the regular slaves) were being stubborn and they didn't want to give Stalin their crops without him paying a certain fee for them. When the Kulaks started to rebel against Stalin, he was infuriated and he declared war against the slaves. Stalin and his armies overpowered the slave's and they had to surrender to them before anything else occurred. Along with their crops came all the machinery that they had and everything that they possessed. Due to Joseph Stalin's actions, many people who were on this collective farm system starved to death. The exact amount of people whom Stalin caused death to is not known but facts prove tha t there were many of people who died to his actions. In 1945 he conducted foreign policies which contributed to the Cold War between the Soviet Union and the West. By1950 Stalin's mental and physical health had begun to deteriorate and he was absent from the Kremlin, the government headquarters in Moscow, for long periods of time. In January 1953 Stalin ordered the arrest of a group of Kremlin doctors on charges of plotting the medical murder of high-level Soviet officials. A few days later, Stalin died of complications from a stroke in March. After his death, the people were upset while Stalin's political successors expressed relief and moved quickly change some of the most brutal features of his regime. Nikita Khrushchev, who replaced Stalin as general secretary of the Communist Party of the Soviet Union, denounced Stalin's methods of rule and political theories, known as Stalinism, in his secret speech to the 20th Party Congress in 1956. Stalin's historical legacy is really

Disney Marketing Paper Essay Example

Disney Marketing Paper Essay Example Disney Marketing Paper Paper Disney Marketing Paper Paper This takes great planning and heavy research to make sure hat the Wall-E is being marketed as the right product, at the right price, sold in the right place, and promoted the best way. Some ways this can be done is by targeting a specific market location, identifying potential buyers (as well as the influences that make their purchasing decisions), and understanding the competitive landscape. Understanding and learning about these areas will help Disney launch the Wall-E toy in the best possible way. Segmentation and the Target Market To create a successful marketing strategy, Disney must first answer the question, who Is the customer who will be most Interested In new voice-activated robotic Wall-E toy. In order to find out the answer to that question, Disney must divide the market up into groups of customers with distinct needs, characteristics or behaviors, then select the segment that best suits the product; this is called market segmentation. The next step in this process of developing a marketing strategy is to decide how to best serve the target customer. This step is known as target marketing. Target marketing is a process to evaluate each of the segments and to select the one or more segments hat will generate the most customer satisfaction and the highest level of profitability. Target market selection is crucial to productive marketing efforts. Products and even companies sometimes fail because marketers do not identify appropriate customer groups at which to alma their efforts. Identification and analysis of a target market provide a foundation on which a marketing mix can be developed? (DDCD Marketing, 2006). The new release of the Disney,Polar movie, Wall-E Is currently for Pixies third-largest opening with $62. 5 million, according to studio estimates from Nielsen (Bowels, 2008). According to Scott Bowels from USA Today, surprisingly more than a fifth of the audience, during the opening weekend, included adults without children. The Disney Corporations numerous market segments all seem to be related and reinforce each other: The Disney Stores promote the consumer products which promote the [theme] parks which promote the television shows. The television shows promote the company (Seder, 2008). Ebbed also suggests, children are increasingly the target of advertising and marketing because of the amount of money they spend themselves, the influence they have on their parents spending (the nag factor) and because of the money they will spend when they grow With this In mind, Disney/Polar will broadly Identify the target customer for the new robotic toy as children. Children and teens, of all ages who presently watch the Disney channel will see previews for ten movie Ana commercials Tort ten product Trot ten movie. Enlarge will tombstone, ask parents to go see the movie and ultimately to the store to shop for related merchandise. Buyer/Consumer Disney has been a major player in toy development for decades and has always been n innovator when it comes to robotics and animation. Wholesale and retail buyers will not be in short demand. Most organizations are going to use the markups to price Wall-E, so price should not be an influential factor. Quality will be. Disney has a Strategic Sourcing and Procurement organization that will work with product development in order to select vendors that will bring the best value to the Wall-E robot. One of those vendors was Thinking Toys. Disney and Thinking Toys have teamed up in the past on such projects as Toy Story, Little Mermaid and Beauty in the Beast (thanklessly. Com). Thinking Toys has won numerous awards regarding quality and product. Having these types of partners on board will ease the concerns of organizational buyers. Demand will also be an influential factor for buyers. The continued success of the movie as well as promotions should keep demand high. Disney will be best served to continue to partner with numerous companies from local and regional retailers and wholesalers to the larger global ones such as Toy-R-Us. Additionally, Disney Interactive as well as the numerous Disney stores around the globe can stock their shelves according to their local markets emend and their distribution network will ensure there is always stock in hand. The consumers of the Wall-E robot are mostly going to be parents of children from ages 6 through their mid-teens. These are going to be parents at least in the working class or lower middle class income bracket and above. The Wall-E robot, while still cheaper than its more advanced competitor, is still an expensive item. Parents with tighter budgets constraints are going to be hesitant to purchase such an expensive item. The working class is also the majority class in the U. S. Making it the most ideal market to target. Working class consumers cover a broad range of different types, but they will be influenced by price more so than classes above them. Rebate offers may be very effective if deployed during a lag in sales. Middle class consumers have a comfortable standard of living, economic security, and will be more willing to spend the extra money to satisfy their wants. Warranties and service will be more important here as well as the Disney brand. Competitive Landscape Competitive landscape analysis identifies who the competitors are ND what the competitor is doing in order to generate sales of the product. The best way for an organization to compete is to prepare them with an in-depth knowledge of what the competition is doing. Chris Byrne, contributing editor of Raving Toy Maniac News, stated of the competitive landscape, there are innovations across the board, which deliver more fun no matter what kids are playing with. The interactive Wall-E two biggest competitors are the Polo dinosaur and the Ultimate Bumblebee Transformer. Polo is an interactive robotic dinosaur that is designed from the same maker of the Furry. This techno dinosaur is equipped with 35 sensors throughout its body, allowing Polo to react instantly to slant, sound Ana touch . I en Polo Languor Is also Adult Walt a camera-oases vowels system for light detection and navigation within its plane. With a price tag of 350 dollars, this high-end toy is not made for the average consumer. The Ultimate Bumblebee Transformer is a spoof from the original Japanese toy line, which debuted in 1984. The Transformers toys line from Hasher is unique in the fact that it features a toy vehicle that can be modified and changed into a robot, which is perfect or an inquisitive young boy. The Ultimate Bumblebee Transformer features an advanced animators design, which means the toy can move itself when in robot mode. His arms and wings move up and down, and his head moves from side to side. It seems to have full sound detection capabilities. It responds to noises, like clapping, by turning and making sounds. At $90, is said to be perfect for older children, toy collectors, and for adults with their inner child waiting to come out and play (Rose, 2006). The Wall-E is interesting, in that it combines characteristics from the top brand. With the price tag of $120, Wall-E falls in the middle-tier of its competitors. However, Wall-E wins the competitive edge stemming from the features-to-cost ratio against the top leaders. Dealing with competition can be difficult, as the competitor can duplicate the product or even improve on the strategies. It is critical for organizations to have a unique selling proposition that puts it above the competition. Conclusion All in all, research shows that Disney has identified their target market for the new voice activated robotic Wall-E toy to be parents of children from ages 6 through mid- teens. The targeted market location is believed to be in the working class, which covers a broad range of individuals, who will be influenced by the price more so than classes above them. Wall-E will be promoted through the Disney channel and commercials of the Wall-E movie. The toys top competitors are identified as the Polo dinosaur and the Ultimate Bumblebee Transformer. Both have features like the Wall- E robot, but the price is more reasonable for its targeted market. Being the movie tied for third largest opening with $62. 5 million, Disney should have great success with the release of the new Wall-E toy.

Understanding Fannie Mae and Freddie Mac

Understanding Fannie Mae and Freddie Mac The Federal National Mortgage Association (Fannie Mae) and the Federal Home Mortgage Corporation (Freddie Mac) were chartered by Congress to create a secondary market for residential mortgage loans. They are considered government-sponsored enterprises (GSEs) because Congress authorized their creation and established their public purposes. Together, Fannie Mae and Freddie Mac are the largest sources of housing finance in the United States. Heres how it works: You secure a mortgage to buy a home.Your lender probably resells that mortgage to Fannie Mae or Freddie Mac.Fannie Mae and Freddie Mac either hold these mortgages in their portfolios or package the loans into mortgage-backed securities (MBS) that they then sell to the public. The theory is that by providing this service, Fannie Mae and Freddie Mac attract investors who might not otherwise invest funds in the mortgage market. This, theoretically, increases the pool of money available to potential homeowners.By the third quarter ​of 2007, Fannie Mae and Freddie Mac held mortgages valued at $4.7 billion- about the size of the total publicly-held debt of the U.S. Treasury. By July 2008, their portfolio was called a $5 trillion mess. History of Fannie Mae and Freddie Mac Even though Fannie Mae and Freddie Mac were Congressionally-chartered, they are also private, shareholder-owned corporations. They have been regulated by the US Department of Housing and Urban Development since 1968 and 1989, respectively.However, Fannie Mae is more than 40 years old. President Franklin Delano Roosevelts New Deal created Fannie Mae in 1938 to help jump-start the national housing market after the Great Depression. And Freddie Mac was born in 1970.In 2007, EconoBrowser noted that today there is no explicit government guarantee of their debt. In September 2008, the US government seized both Fannie Mae and Freddie Mac. Other GSEs Federal Farm Credit Banks (1916)Federal Home Loan Banks (1932)Government National Mortgage Association (Ginnie Mae) (1968)Federal Agricultural Mortgage Corporation (Farmer Mac) (1988) Contemporary Congressional Action Regarding Fannie Mae and Freddie Mac In 2007, the House passed H.R. 1427, a GSE regulatory reform package. Then-Comptroller General David Walker stated in Senate testimony that â€Å"[A] single housing GSE regulator could be more independent, objective, efficient and effective than separate regulatory bodies and could be more prominent than either one alone. We believe that valuable synergies could be achieved and expertise in evaluating GSE risk management could be shared more easily within one agency.† Subprime Mortgage Crisis A subprime mortgage crisis occurred in the United States between 2007–2010, in part as a result of a weakening economy but also as a housing bubble which had pushed housing prices higher and higher collapsed. Houses were large, their price tags steep, but mortgages were inexpensive and easy to get, and the prevailing real estate theory was that it was smart to buy (much) more house than you needed because it was a solid investment. If they wanted, buyers could refinance or sell the house because the price would be higher than when it was purchased.   Fannie and Freddies concentrated exposure to US residential mortgages, coupled with their high leverage, turned out to be a recipe for disaster. When the inevitable crash in home prices occurred, it created an associated spike in mortgage defaults, and Fannie and Freddie were holding hundreds of thousands of underwater home mortgages- people owed more, in some cases far more, on their houses than the houses were worth. That situation contributed greatly to the 2008 recession.   Collapse and Bailout By mid-2008, the two firms had expanded to almost $1.8 trillion in combined assets and $3.7 trillion in combined net off-balance sheet credit guarantees. Over the same period, however, they posted $14.2 billion in losses and their combined capital only amounted to about 1 percent of their exposure to mortgage risks. Despite efforts in the summer of 2008 to prop up the failing GSEs (the Housing and Economic Recovery Act on July 30 temporarily gave the US Treasury unlimited investment authority), by Sept. 6, 2008, the GSEs held or guaranteed $5.2 trillion dollars in home mortgage debt.   On Sept. 6, the Federal Housing Finance Agency placed Fannie Mae and Freddie Mac into conservatorship, taking control of the two firms, and entering into senior preferred stock purchase agreements with each institution. The U.S. taxpayer ultimately paid a $187 billion bailout to the two GSEs.  Ã‚   One stipulation to the bailout was that going forward the quality of housing loans backed by Fannie Mae and Freddie Mac had to improve. Investigations by economists Dongshin Kim and Abraham Park reported in 2017 indicate that the quality of post-crisis loans is indeed higher, particularly in the requirements on the levels of debt-to-income (DTI) ratio, and credit scores (FICO). At the same time, loan-to-value (LTV) requirements had been loosened since 2008, allowing a steady increase in the number of first-time home buyer loans.   Recovery By 2017, Fannie and Freddie had paid back $266 billion to the US Treasury, making their bailout a tremendous success; and the housing market has recovered. However, Kim and Park suggest that continued monitoring of the quality of the mortgages would be prudent. While FICO and DTI are indicators of the borrowers ability to pay their mortgages on time, the LTV is an indication of the borrowers willingness to pay. When the house value falls below the loan balance, people are less likely to pay on their mortgages.   Sources Boyd, Richard. Bringing the GSEs Back In? Bailouts, U.S. Housing Policy, and the Moral Case for Fannie Mae. Journal of Affordable Housing Community Development Law 23.1 (2014): 11–36. Print.Ducas, John V. Subprime Mortgage Crisis 2007–2010. Federal Reserve History. November 22, 2013.Frame, W. Scott, et al. The Rescue of Fannie Mae and Freddie Mac. Journal of Economic Perspectives 29.2 (2015): 25–52. Print.Kim, Dongshin, and Abraham Park. How Sound Are the Fannie Mae and Freddie Mac Recoveries? Are There Vulnerabilities for History to Repeat? Graziadio Business Review 20 (2017). Print.Agency/Government Sponsored Enterprises (GSEs) Product Overview 200What Are the Origins of Freddie Mac and Fannie Mae?

Analysis of Financial Statements of Bogus Limited For the Year-ended Essay

Analysis of Financial Statements of Bogus Limited For the Year-ended 30 June 2004-2005 - Essay Example The firm's inventory turnover also shows net improvements in its efficiency. In terms of stability, although there is marked recovery in the leverage and liquidity ratios, Bogus Limited's debt ratios imply that the firm is still highly leveraged and may possibly encounter liquidity problems in the future as a result of its financial positioning. Given these outcomes, a potential shareholder is recommended to invest in the company and take advantage of the firm's bright earnings prospect. In light of the firm's highly-leveraged position, a potential creditor is recommended to prudently extend credit line to Bogus Limited. Prior to arriving at an investment decision, potential shareholders and creditors must initially analyse the financial position and health of a particular company. This report provides an overview of the financial standing of Bogus Limited as at year-end 30 June 2005. It intends to aid a potential shareholder in assessing the feasibility of investing in the company's stocks by reviewing the overall and per-share performance of the firm in the past two years. Moreover, this report aims to assist a potential creditor in evaluating the company's financial health by looking at the efficiency and stability of Bogus Limited as indicated by the liquidity, leverage and turnover ratios posted in the given period. Body of the Report Performance Based on the income statement of Bogus Limited for year-end 2005 and 2004, the firm's sales increased by 26% or $554.4 million, from $2,124.1 million to $2,678.5 million. This signals that the company has sustained its earnings growth from operations in the last two years. This assertion on the firm's profitability is supported by the net profit margin posted that rose to 13% as at year-end 30 June 2005 from 11% in the previous year. Although the company's cost of goods sold substantially increased resulting in lower gross profit margin, Bogus Limited is