JPMorgan Chase Paper Essay

In the summer of 2012, JPMorgan Chase, the largest leading U. S. bank, announced trading losses from investment decisions made by its Chief Investment Office (CIO) of $5. 8 billion. The Securities and Exchange Commission (SEC) was provided falsified first quarter reports that hidden this massive loss. Discuss how administrative agencies like the Securities and Exchange Commission (SEC) or the Commodities Futures Trading Commission (CFTC) take action in order to be effective in preventing high-risk gambles in securities / banking, a foundation of the economy. In the summer of 2012, JPMorgan Chase, the largest leading U. S. bank, make known trading losses from investment verdict made by its Chief Investment Office (CIO) of $5. 8 billion. The Securities and Exchange Commission (SEC) was provided falsified first quarter reports that concealed this enormous loss. The duty of the U. S. Securities and Exchange Commission is to protect investors, uphold fair, organize, and efficient markets, and facilitate capital formation. Obligatory public companies to disclose meaningful financial information to the public is an effective move toward the SEC takes in order to assure the securities of this nation (U. S. Securities and Exchange Commission). These assist investors prevent high-risk gambles and allows them to make the right decisions when deciding on which companies to invest in. The Commodity Future Trading Commission regulates the product futures and options markets. Its target includes the promotion of competitive and efficient futures markets and the protection of investors against manipulation, abusive trade scheme and fraud (U. S. Securities and Exchange Commission). Both the SEC and the CFTC played a role in investigating the massive trading losses in the case of JPMorgan Chase. The SEC’s investigation could only focus on the suitability and completeness of JPMorgan Chase financial reporting and other public disclosures. However; SEC Chairman Mary Schapiro stated that her agency’s investigation is limited, because the trades happened in divisions of the banking giant that aren’t subject to SEC regulation (CNN Money). The leader of CFTC, Gary Gensler, give an opinion that â€Å"JPMorgan’s losses are worth looking into, because as a U. S. bank, it is an entity with direct admission to the Federal Reserve’s discount window and federal deposit insurance† (CNN Money). Determine the elements of a valid contract, and discuss how consumers and banks each have a duty of good faith and fair dealing in the banking relationship. A contract is a legally obligatory promise or set of promises (Bagley, C. 2013). If this promise is broken, either party involved can be legally responsible and take the other party to court. There are four basic elements in the creation of a valid contract. The first consist of an agreement between the parties involved, by an presented offer and acceptance. The second states that the parties’ promises must be supported by something of worth, known as consideration. The third advises both parties must have the ability to enter into a contract. The fourth element states the contract must have a legal purpose (Bagley, C 2013). The duty of good faith and good dealing is implied in every contract. In recent years the mortgage industry has been seen as a prime example of how consumers and banks need to better understand and adhere to duty of good faith and good dealings. Consumers had the responsibility of understanding the contracts involved in borrowing the money needed for their homes. Banks had the responsibility of knowing who they should lend money to, and the conditions of the rates involved on the loans provided. Relationships between banks and consumers could have been avoided if the duty of good faith and good dealing was implemented on contracts granted between the banks and consumers. Compare and contrast the differences between intentional and negligent tort actions A tort is a body of rights, and obligations that is applied by courts in civil proceedings to provide relief for persons who have suffered harm. Tort means civil wrong resulting in injury to a person or property (Bagley, C. 2013). An intentional tort action is when there is intent to cause harm to a person or property . Intentional torts include things like assault and battery, slander, false imprisonment, libel, and intentional infliction of emotional distress. These torts are often, but not always, the case that an intentional tort is also a criminal act (Bagley, C. 2013). A negligent tort action is when a person is careless to his or her own actions and did not intend to cause harm to a person or property. Even though that person is negligent, he or she is still held legally responsible because of their careless actions. To illustrate the difference between negligence and an intentional tort, let’s look at an example with two different scenarios. The plaintiff is a woman named Ramona, and in both cases, she is suing because of a broken leg. state of affair #1: Ramona is walking down the aisle of Wal-Mart store when she slips and falls on a puddle of cooking oils. The owner of the store was negligent for not cleaning up the spill. Even though the store owner did not intend for Ramona to get hurt, he is still liable for her broken led because his negligence lead to her injury. Scenario #2: Molly is walking to her car when she is assaulted by a man who wants to steal her wallet. The assailant shoves her to the ground, and she breaks her wrist as a result of the attack. The police later catch the assailant, and Molly sues him for her injuries. In both cases the end result is the same; Ramona end up with a broken leg. Both defendants can be held liable for Ramona injuries, but for different reasons. The store owner is liable because he failed to clean up the spilled of oils, which a reasonable person would have done. The assaulter is liable because they intentionally caused harm to Molly by pushing her. Discuss the tort action of â€Å"Interference with Contractual Relations and Participating in a Breach of Fiduciary duty† and, if the bank you’ve chosen were to behave as JP Morgan did, would you be able to prevail in such a tort action. The interference with contractual relations defends the right to enjoy the benefits of legally binding agreements (Bagley, C 2013). The existence of a contract at the time of the assumed interference is what separates tortuous interference with contract from the more complicated to establish tortuous interference with prospective contractual relations. If good grounds exist for the interference, such as the case with JP Morgan, then the defendant would not be liable. With the advent of mobile banking, discuss how banks have protected the software that allows for online transaction to occur through automation. The majority banks inform consumers that they are protected by the Online Banking Security Guarantee, which covers the security of your information and bank accounts. Banks hold a liability of making sure the consumers security is protected, and if dishonored most banks will guarantee up to a 100 percent against theft of your funds from online banking services. While many worry about online banking, there’s good news that mobile banking is to some extent secure just for the reason that there are so numerous variations of banking apps and methods in the market. A thief has no way of predicting which technique a possible victim might use. Cited Work U. S. Commodity Futures Trading Commission. (n. d. ). Retrieved March 1, 2013, from U. S. Commodity Futures Trading Commission: http://www. cftc. gov/index. htm CNN Money (n. d. ). Retrieved March 1, 2013, from http://money. cnn. com/2012/05/22/news/economy/jp-morgan-senate/index. htm U. S. Securities and Exchange Commission. (n. d. ). Retrieved March 1, 2013, from U. S. Securities and Exchange Commission: http://www. sec. gov/ Bagley, C. (2013). Managers and the Legal Environment: Strategies for the 21st Century, 7th Edition. Mason: South-Western, Cengage Learning.

Human Nature †Are Humans Naturally Good or Evil? Essay

What is thought of as immoral to one person can be seen as ethical to another, and vice versa. This is due to the difference in the way humans perceive things, which is part of the intricacy of mankind. â€Å"During the time men live without a common power to keep them all in awe, they are in that conditions called war; and such a war, as if of every man, against every man. † (Hobbes) Hobbes states that Humans are naturally evil and need a powerful government to control them. Is it true? Rousseau thinks otherwise. â€Å"In reasoning on the principles he (Thomas Hobbes) lays down, he ought to have said that the state of nature, being that in which the care for our own preservation is the least prejudicial to that of others, was consequently the best calculated to promote peace, and the most suitable for mankind? man in the state of nature is both strong and dependent involves two contrary suppositions. Man is weak when he is dependent, and is his own master before he comes to be strong. † (Rousseau) The issue of good and evil is brought up in â€Å"Lord of the Flies† by William Golding, when innocent boys find themselves on a deserted island attempting to create a society similar to ours. What circumstances occur to them? How do past influences affect them? Are their actions good or evil? The actions of the boys were not a matter of being good or evil, but were actions for survival. A person’s environment does not draw him towards good or evil, nor is he or she born with it inside. Humans have instincts that are not affairs of good and evil, but of survival. By natural instinct, humans will do what is best for them especially for their survival. Animals, much like people, kill when in need. For instance, if they feel they are cornered, they would attack. If they need food, they will kill to eat. In â€Å"Lord of the Flies†, Ralph was being hunted by Jack’s tribe, and in a desperate attempt in his defense, thrusts his spear through a crack at the inspecting savages. Ralph attacked someone of his own kind for his own survival. It can be believed that man is the derivative of others animals, and as such, they have certain instincts that were instilled from birth. The boys later began to simulate the behavior of animals. â€Å"At once the crowd surged after it, poured down the rock, leapt on to the beast, screamed, struck, bit, tore. There were no words, and no movements but the tearing of teeth and claws. † (Golding 153) William Golding’s description of this scene leads a reader to believe that these boys acquired animal like qualities. Do you know of any human who tears with teeth and claws? The boys mistake Simon for their beast and result in ruthlessly killing him. In their state of mind of savagery and hunting, they saw themselves in danger of this â€Å"beast† and their first instinct was to kill anything in sight that had the possibility of being it. Humans, like animals, have a natural instinct to protect themselves in case of danger, like attacking when cornered. Instincts are inherited, but indistinct characteristics such as good or evil are not. The significance of moral values do not apply to actions in situations for survival. Instincts are not about being moral or immoral, because the issue of being good and evil is undefined. Whether an action or situation is good or bad depends on who it is and how it is being perceived. This makes this issue uncertain due to the way it is viewed from person to person. Since the way it is seen will differ, man cannot be exclusively evil or exclusively good. Consider the following example: A dog constantly jumps on the window of a door in an attempt to get the attention of the family inside. He is doing this in hopes to be let back inside the house. Someone inside the house could view this as being evil, which would be different from the view of an animal lover. They would not consider this evil and would claim that the dog had not caused physical harm and just didn’t know any better. The dog doesn’t believe that it is evil because he is only obeying environmental charge. He’s been inside before and knows that it is much nicer than outside, and wants the attention that is inside. The dog has tried to jump on the door before, and had received the attention of someone who thus let him in. This leads the dog to believe that what he is doing is the â€Å"right† thing to do. After all, he just wants in, right? So the dog is evil because someone inside says he is, but then he is not evil because he doesn’t think he is. The opinions on what is evil and what isn’t disagree with each other because of how it was perceived by each side. In â€Å"Lord of the Flies† there is a situation that deals with Piggy’s glasses, which is the key to fire on the island. The glasses were stolen in the middle of the night that leads to a fight in the dark among the boys. The fact that the glasses were stolen, and they were Piggy’s only aid for sight, can be seen as evil, but what about Jack’s side? Jack acts upon his devoir to light a fire in order to cook the pig he killed with his tribe to fully enjoy their prize. Ralph and Samneric engage in a fight with whosoever they can touch first, without an attempt to reason. Which is evil in this situation? Humans are simply complex animals that respond to complex impulse, and their behaviors are influenced or are a product of everything that they learn starting from the day of their birth to the day of their death. Society sets a mold for the â€Å"good† and â€Å"bad† conditions that humans are learning from day to day. The role of society in being good or evil is that it acts as this guideline for that long lived dream of acceptance. It’s where what’s good gets you in, and what’s evil is what will make you repulsive. The ideas of power and the abuse of that power are not learned from the environment. The environment is used as a resource to abuse that power. Jack manipulates the boys into joining his tribe and sets up his territory on the island. He threatens people to join his tribe, and hunts those that refuse to. Jack’s tactics are an example of how he abuses power by using the environment and how he sets the society guidelines of acceptance. A society could not exist where people are brought up to know what they define as right or wrong, and could stick to that without problem. â€Å"We decide things. But they don’t get done. † (Golding 79) On the island, the civilized rules of having drinking water, shelters, and having a spot for a lavatory are not followed. The boys were brought up having rules like these, but they did not stick to them due to the problem that they didn’t have a strong enough authority figure to instill them. Society acts as this necessary component to life, and if it’s not there then it needs to be made. The creation of society begins with people who have the power to set the rules of acceptance, and they are the ones who establish what is good and what is evil. Society may manipulate others into believing what is good and evil, but those that manipulate society create that belief. In conclusion, Hobbes and Rousseau are both, in a sense, right and wrong. Hobbes said that human nature is evil and need to be controlled while Rousseau said human nature is good and need to govern themselves. It’s not that humans are innately good or evil, it’s their natural instinct that drives them to do immoral or ethical deeds based upon what society leads them to believe. People cannot exclusively be good or evil because the state of good and evil is undefined. People are born with an instinct that drives them to do what is necessary in extreme measures. This instinct overtakes any other preceding thought and becomes the need for survival. In Lord of the Flies, it wasn’t whether or not the inhabitants were evil or good, it was their human reaction and instinct in the case of survival. Golding, William. Lord of the Flies. New York, NY: Putnam Group, 1954. Hobbes, Thomas. Leviathan. Ed. J C A. Gaskin. Oxford, NY: Oxford UP, 1998. Rousseau, Jean Jacques. The Social Contract and the First and Second Discourses. Ed. Susan Dunn. Binghamton, NY: Vail-Ballou P, 2002.

A Vietnam Country Review History Essay

A Vietnam Country Review History Essay Vietnam as we know is approximately 331,688 km ² in area but it does not include the Hoang Sa and Truong Sa islands, it is larger than Italy and almost the same size as Germany. Vietnam is located in South East Asia, bordered to the north near China, to the west near Laos and Cambodia and to the east, by the Pacific Ocean. The capital of Vietnam is Hanoi, it is located in the north and is the second largest city in Vietnam, as the capital of Vietnam for almost a thousand years now, and Hanoi is considered to be one of the cultural centres of Vietnam, where most of the Vietnamese dynasties had left behind their imprint. After that I will summarize some culture of Vietnam. First of all, the Culture of Vietnam, or in particular the culture of the Kinh ethnic origin in the northern Vietnam, is one of the oldest cultures in the Pacific region. Although so, the major influence is China, Vietnam’s culture had created a lot of features, quite similar to the other people of East Asi a and other countries in the Pacific Ocean (such as Cambodia , Laos and Thailand) that have suffered a major cultural influence by India. Nowadays, the culture of Vietnam has changed from time to time, it is a special blend of the many ancient cultures with the indigenous culture of the Vietnamese. Other than the influence of China, the cultures of the Vietnamese people are also influenced by the Western culture. Some examples of the Vietnamese culture are: food, apparel, religion, and the cultural territory. Body Climate First of all I will talk about the climate in the south of Vietnam, it is located in the tropical monsoon equatorial so it has a very high temperature throughout the year and it only has two seasons, which are rainy and dry. The rainy season begins from the month of May to November and dry season will begin from the month of December to April the following year. Because the south rainy season is longer than the dry season, so this has some sort of influence in the change of culture I ways of food to the culture in the south, the central, and the north of Vietnam. As we know the cuisine of Vietnam is very famous around the world, Ho Chi Minh City’s cuisine is also partly reflected by the cultural life and natural minerals, its cuisine is influenced by the French cuisine, Cambodian cuisine and the Thai cuisine. Today, the specialties are easily found at Ho Chi Minh, it is a combination of the food from the North, Middle, South and international cuisines, for example: sour soup is a combination of the sour salty of the north, spicy peppers of the central, and sweet fresh of the south. Another example is the beef steaks which are thinner and more mature and it is also spicier vegetables served with it compared to France. By contract, the nature of the part middle of Vietnam is it has a very hard climate, it is influenced by the sea breezes as well as the mountain winds. The people living here are austere and rich energetic. The Central Foo d has food that are very spicy, very spicy-hot, as positive (for the cold when it comes to soaking in water and odor resistant nature of the seafood capital nature-sound welding) and it is very salty. The food materials are often simple, but if you ever have the opportunity to really enjoy, it will be an experience that will never be forgotten.

Qualitative Research Methods Assignment Essay Example | Topics and Well Written Essays - 1000 words

Qualitative Research Methods Assignment - Essay Example Meanwhile, Cox (2003) discovered that intrapersonal, intragroup, and intergroup conflict have negative impacts on work satisfaction and team effectiveness. On the other hand, Gilson, et al. (2005) found out that standardization is capable of influencing the relationship between creativity and team effectiveness. Research Question and Setting Cognizant of the differences in perceptions of team effectiveness, this qualitative study will attempt to address the research question: Do the perceptions of team effectiveness of selected members of virtual teams in INT Corporation EMEA closely approximate the theoretical components of team effectiveness? A qualitative research is deemed most appropriate for this study because the study intends to explore attitude and behaviours by obtaining in-depth opinions from the respondents of the study (Dawson, 2004). Needless to say, therefore, that the setting will be INT Corporation EMEA. Sampling and Data Gathering Since interviews will take much lon ger than a questionnaire survey, a qualitative research can not accommodate as many respondents as a survey. Sample size was determined using randomised parameters: (1) margin of error of 7%; (2) confidence level of 90% (3) company population of 60,000; and (4) response distribution of 10%. The minimum required sample size is 50. However, selection of respondents will not anymore be randomised, but through purposive sampling. Dane (2011) describes purposive sampling as the selection of sampling elements grounded on characteristics of interest for the study, which in this case is, membership in a virtual team. Purposive sampling does not involve probability sampling, but combining sampling procedures in this regard are allowed and practiced according to Teddlie and Tashakkori (2009). Data for the study will be collected using one of the most common methods of qualitative research – a semi-structured interview using an interview guide as the main instrument of the study. A semi -structured interview may be described as one which â€Å"consists of predetermined questions related to the domains of interest, administered to a representative sample of respondents to confirm study domains and identify factors, variables or attributes of variables for analysis or use in a survey† (Schensul, et al., 1999, p. 149). The study can benefit from semi-structured interviews since this data gathering procedure harmonises the flexibility of unstructured or open-ended interviews and the directionality of the survey questionnaire, capable of generating focused qualitative data. The best thing about a semi-structured interview is that the questions are formulated before the actual interview, but the answers are open-ended and may be expanded based on the discretion of the interviewer. The main limitation of interview as a data-gathering technique is the time required to conduct the interview. This is usually offset by using a smaller number of respondents. Hence, in-d epth information can be gathered from the respondents or interviewees. In this study, perceptions of team effectiveness will be categorised into five areas, namely: atmosphere, relationships, communication, direction and objectives. Five main questions corresponding to the five categories named will be included in the interview guide. These questions are: 1. How will you describe the

Monophysite vs. Monophysitism Assignment Example | Topics and Well Written Essays - 250 words

Monophysite vs. Monophysitism - Assignment Example Monophysitism was a reaction against the earlier Nestorian heresy, which viewed Christ as being two distinct persons with two distinct natures. Monophysitism is the viewpoint that Christ was a single, composite person with a single, composite nature that was neither God nor man, but a unique combination of both. Monophysites are the people and groups that embrace that viewpoint (Gregory, 2005). Orthodox Christians observe various fasts, including each Wednesday and each Friday. Wednesday is considered to be the day that the Jews conspired against Jesus, while Friday is considered to be the day of His crucifixion (Belwal & Tafesse, January, 2010). However, the Bible instructs Christians to be joyful, not dismal, in fasting, as it is for God and not for man that they fast (Matt. 6:16-17). Fasting should not be done out of guilt or self-hatred (Deville, 2005). Fasting, for Middle Eastern Orthodox Christians, is not done out of survival guilt, following famine, nor even done in memory of the more than 100,000 Orthodox Christians massacred by the Turks, nor for the millions starved and killed in the ongoing Orthodox Christian Holocaust around the world (Moore, 1999). It is done in obedience to Christ and in

What was the gender difference in job related training between 1997 Article

What was the gender difference in job related training between 1997 and 2002 - Article Example ies: the demographic trends in formal, job related training; informal training or self-directed learning; training and unmet training needs or wants; and long-term patterns in formal training participation. The gender difference in job related training between 1997 and 2002 showed that participation rates for both male and female participants in formal, job related training increased from 1997 to 2002. As clearly revealed, the authors disclosed that: participants, 39% of women and 34% of men reported having unmet training needs/wants. These proportions dropped to 24% and 22% respectively for non-participants† (Peters 19). These figures manifest that training and unmet training needs or wants were higher for women than men by 5% (for participants) versus a difference of 2% for non-participants, where women still exceeded men’s unmet training needs or wants. (54% were men and 46% were female† (Peters 23). On the other hand of the continuum, the patterns for long-term trainees, the results disclosed that there are equal portions of men and women in the group. The author’s findings in terms of gender differences in job related training revealed that both men and women exhibited increased participation in formal, job related training from 1997 to 2002; where more women manifested more unmet training needs or wants than men. Finally, in terms of long term patterns in formal training participation, men exhibited higher proportions of non-trainees than their counterpart. As Peters (2004) averred, the results would assist in future research that aims to â€Å"understand if the training objectives of workers are met by the training they participate in, how formal training combines with informal training in the skill-development process and a wealth of other issues†

Foreign Currency Matters Essay Example | Topics and Well Written Essays - 500 words - 1

Foreign Currency Matters - Essay Example On the other hand, if the functional currency is the Japanese Yen, then there will be no effect on exchange rates. This means that cash flows will not be impacted, hence not included in net income (Financial Accounting Standards Board, 1981). Â  In a situation where more than half of the subsidiary’s revenue is Singapore sources, the Singapore Dollar will be the functional currency but the end of year finances will be reported in Japanese Yen. On the other hand, if more than half of the subsidiary’s revenue is from Japanese sources then the functional and reporting currency will remain as Japanese Yen (Earnest & Young, 2014). Â  4. Remeasurement means that a subsidiary’s functional currency is dominant in record keeping. At the end of the year, the current exchange rates are put into an account before reporting such that any gain or loss is reflected in the income statement. On the other hand, translation means the books are kept on the functional currency and transferred directly to the reporting currency without reflecting any gain or loss out of the exchange process. This can be reflected in the equity books away from financial books (Carmichael, Whittington & Graham, 2007). Â  5. Windbigler’s statement is incorrect when he says that the current exchange rate is defined as the exchange rate between functional currencies and reporting currencies at the balance sheet. In practice, the current exchange rate is defined as exchange rate at the balance sheet of the functional currency before the reporting currency. Alvarez statement is correct concerning monetary assets and liabilities (Georgiades, 2008). Â