Thursday, May 21, 2020
Mary Shelley s Frankenstein, And The Creature - 2747 Words
Growing up in a world learning a set of rules that are taught by love ones and then being push out of the world by following them. In Mary Shelley s life, she grew up listening to her father s rules then being looked down upon by being with someone she loved. She is young and is trying to find herself in the world. The story Frankenstein, written by Mary Shelley looks through the three characters of Captain Walton, Victor Frankenstein, and the Creature. The characters each have a different goal to achieve. When they achieve that goal, gaining the knowledge will either improve their well being or turn into a disaster. In Shelley s Frankenstein, the attainment of knowledge does improve and corrupt each of the characters through the perspective of literary allusion, science, and Gothic horror. First, Captain Walton was corrupted and improved through the perspective of literary allusion. Captain Walton wanted to go on a long journey putting himself and his men at risk. The captain was waiting to go by the sea of ice to travel to the North Pole and see the wondrous sight of the land. Captain Walton wants to gain fame and fortune by finding a way through the ice to the North Pole. He read lots of books and poems on big adventures and quests. That is what got him so intrigued in traveling where no man has gone before. He wanted to be well known like his favorite poets Shakespeare or Homer. He will even have his own crew men die from the long cold voyage out to sea just toShow MoreRelatedMary Shelley s Frankenstein And The Creature1244 Words à |à 5 PagesFrankenstein Reading ââ¬Å"Frankensteinâ⬠, there are many characters and plot twists, all of which become relevant through the book. Mary Shelley did a great job evolving these characters, with the detail and intricate story line. There are two main characters, Victor Frankenstein and the creature. Many opinions can be given about the two main characters because different things have other meanings to different readers. Victor was a mean and selfish man, but he had the courage and the strength to goRead MoreThe Creature Of Mary Shelley s Frankenstein 1042 Words à |à 5 PagesThroughout Frankenstein, the creature was not looked at as human because of some of his features. He had different features than most humans did. He was very strong, and frightened others by his physical appearance. The creature contains the body parts of other humans. The creature has feelings for others. He has an understanding that he is not like the rest, so he does his best to blend in. He does his best to comm unicate with other humans. The creature also wants another creature so he is not lonelyRead MoreThe Creature Of Mary Shelley s Frankenstein1536 Words à |à 7 PagesThe creature in Mary Shelleyââ¬â¢s Frankenstein, who parallels Miltonââ¬â¢s Eve and Satan in many ways, also makes choices based on his envy for human beings and Miltonââ¬â¢s Adam. When the creature is hiding out by the De Lacy cottage, he finds books that include Paradise Lost. The creature acknowledges his feelings of envy saying that he feels like Satan because ââ¬Å"often, like him, when I viewed the bliss of my protectors, the bitter gall of envy rose within meâ⬠(Shelley 90; vol.2; ch.7). The creature is enviousRead MoreSimilarities Between Frankenstein s Creature And Mary Shelley s Frankenstein916 Words à |à 4 Pagesshow similarities between the Frankensteinââ¬â¢s creature and Mary Shelleyââ¬â¢s. These indications show that the novel may be an autobiography. On the other hand, the novel sh ows a lot of the characteristics of science fiction. The novel cannot be classified as both, a real description and a fiction narrative, at the same time. An informed opinion about this controversy requires the evaluation of redundant critics. Sherry Ginn uses ââ¬Å"Mary Shelley s Frankenstein: Science, Science Fiction, or AutobiographyRead MoreThe Creature And Protagonist Of The Story Of Mary Shelley s Frankenstein1262 Words à |à 6 PagesVictor Frankenstein: creator of the creature and protagonist of the story â⬠¢ Henry Clerval: Frankenstein s best friend who is murdered by the creature â⬠¢ Elizabeth Lavenza: lived with Frankenstein family; married Victor â⬠¢ Robert Walton: explorer who met Frankenstein on the Arctic ice â⬠¢ Margaret Saville: recipient of a series of letters from her brother, Robert Walton â⬠¢ Justine Moritz: wrongly executed for the murder of young William Frankenstein â⬠¢ Felix De Lacey: unknowingly taught the creature to readRead MoreThe Miserable And Wretched Creatures Of Mary Shelley s Frankenstein And Charles Dickens s A Christmas Carol1697 Words à |à 7 Pagesand wretched creatures of Mary Shelleyââ¬â¢s ââ¬Å"Frankensteinâ⬠and Charles Dickensââ¬â¢s ââ¬Å"A Christmas Carolâ⬠are all products of the same social and cultural forces, however one is more noticeably linked to these issues while the other is more abstract. The two child-like spirits, Ignorance and Want, serve as warnings to Scrooge that society will be littered with people ignorant and wanting like he is if he does not change his attitudes toward the poor. The relationship between Victor Frankenstein and his monsterRead MoreAnalysis Of Mary Shelley s Frankenstein 1184 Words à |à 5 PagesThroughout Frankenstein, Mary Shelley uses a ââ¬Ëframed narrative using three different characters who tell their story at different times of the novel. In the beginn ing of the story, the audience receives Captain Walton s point of view, who primarily writes letters to his sister Margaret Saville, in England. Secondly, the audience comes hand in hand with Victor Frankenstein s point of view and within his narrative, they receive the indomitable Creature s point of view. The major theme portrayedRead MoreThe Myth Of Mary Shelley s Frankenstein Essay1204 Words à |à 5 Pagesfiction, Frankenstein. Shelleyââ¬â¢s Frankenstein was deeply influenced by the Prometheus myth ranging from the history of the title, the action of the main character, and the consequences of performing the action. When the book was first published, Mary Shelley gave a hint of the Prometheus origin in the name of the book. Her original title in 1818 for this book was called ââ¬Å"Frankenstein; or, The Modern Prometheus.â⬠After the overwhelming success of Frankenstein in 1818, Percy Shelley, Mary Shelleyââ¬â¢sRead MoreAnalysis Of Mary Shelley s Frankenstein 1527 Words à |à 7 PagesShelley s narrative is seen to symbolize romantic fears, offering a tale of certain demise, one that gives technology negative connotations in the form of the creature whom is represented as an outcast of society. To emphasise this, the sublime settings in the text, provide a space where the marginalised can be heard, however, for in contrast to the power of beauty which works to contain and maintain social distinctions, the sublime in Frankenstein opens the way for the excluded to challenge theRead MoreFrankenstein, By Mary Shelley Essay953 Words à |à 4 PagesThroughout Mary Shelleyââ¬â¢s book, Fra nkenstein, illness represents an essential theme. Shelley predominately uses illness to portray the desperate attempts of the main character, Victor Frankenstein, to withdraw from the brutality of reality. During the novel the frequent appearance of illness insinuates an ambiguous implication. However, the role infirmity plays and the reasoning for Frankenstein s recurring illness remain open to the interpretation of the reader. Overall, the continual use of illness
Wednesday, May 6, 2020
Racial Formation Within Hegemony And Common Sense
ââ¬Å"Racial Formation within Hegemony and Common Sense in Societyâ⬠In the title, ââ¬Å" Racial Formation in the United Statesâ⬠, author Michael Omi and Howard Winant argues that the problems of understanding race and how it can be established and seen to be the answer through the concept of hegemony within the racial cultures. Society needs to understand racial combination within each race, then understand how the force and the consent plays a major role within each party or community in the United States of America. Now, in the title, ââ¬Å"A More Perfect Union,â⬠author Barack Obama emphasizes that race has diverse stories in which it proves that we still hold common hopes in understanding society as a whole through common sense in racism. Barack Obamaââ¬â¢s speech proves several ideas about race by comprehending how he became the president and how society interacts around the topic in which Michael Omi and Howard Winant tends to prove in the article. Omi and Winantââ¬â¢ s claims that racial categories serve in the U.S can be s een as common sense and hegemony concept. Hegemony shows the concept of how society tends to cultivate or destroy within each race in society by not understanding hegemony concept. Author, Michael Omi and Howard Winant quotes, ââ¬Å" Racial rule can be understood as a slow and uneven historical process which has moved dictatorship to democracy, from domination to hegemony. In this transition, hegemonic forms of racial rule-those based on consent---eventually came to supplantShow MoreRelatedNo More Miss America By Robin Morgan Essay932 Words à |à 4 Pagessocietyââ¬â¢s common sense, or hegemony, which was nurtured by the dominant ideology which in this case was a gender hierarchy where men were believed to be superior to women. The primary source ââ¬Å"No More Miss Americaâ⬠by Robin Morgan describes her experiences as a participant of the NYRF protesting against the Miss American Pageant in Atlantic City on September 7th 1968. The NYRF group discussed ten points of how the Miss American Pageant promoted the â⠬Å"traditional womanâ⬠stereotype based on racial beautyRead More Struggling to Succeed: An Examination of Black Business Essay3140 Words à |à 13 Pagesan anti-business ethnicity, then the responsibility for that must be shared between blacks themselves and their oppressors. Similarly, upon examining Micahel Omi and Howard Winantââ¬â¢s definition of hegemony, which they assert has been the dominant mode of rule in the United States, wee see that ââ¬Å"hegemony [is] always constituted by a combination of coercion and consentâ⬠(152). So any societal oppression that the white males in power are able to levy against blacks must be accepted by blacks in orderRead MoreExploring The Scars Of Centuries Essay3189 Words à |à 13 PagesAvila 8 June 2015 Exploring the Scars of Centuries Human slavery is a phenomenon that has been present since the times of the Romans and the Greeks. As a common misconception, societies, especially Americaââ¬â¢s tend to believe that slavery was always black. Throughout a period of enslavement, human beings have again and again treated slavery and racial hierarchy as an act of the ââ¬Å"normâ⬠embedded in human behavior, which they use in order to make a clear distinction between them and us to justify such atrociousRead MoreThe, Mexican Feminist Theorist Gloria Anzladua s An Analytical Framework For Considering The Relationship Between Minority Faces,3216 Words à |à 13 Pagesconsidering the relationship between minority faces, spaces, and languages as they compete, interact and inform Americaââ¬â¢s institutionalized whiteness. While her book specifically deals with the ââ¬Å"minority facesâ⬠of Mexican immigrants, the epigraph suggests, racial minorities who interact with historically white spaces cross a ââ¬Å "borderâ⬠that is at once culturally and linguistically metaphoric, and physically literal. Thus, Anzalduaââ¬â¢s frame of the ââ¬Å"borderâ⬠suggests that minority experience is a product of culturalRead MoreEssay on Theory and Practice in Post-Colonial Literatures4270 Words à |à 18 Pageshistorical process initiated by European imperial aggression. We also suggest that it is most appropriate as the term for the new cross-cultural criticism which has emerged in recent years and for the discourse through which this is constituted. In this sense this book is concerned with the world as it exists during and after the period of European imperial domination and the effects of this on contemporary literatures. So the literatures of African countries, Australia, Bangladesh, Canada, CaribbeanRead MoreDifferences Between Nature And Culture3101 Words à |à 13 Pagesillustrate the claims made by Hall and Omi/Winant that race is a social and cultural construction rather than a simple biological fact. Omi and Winantââ¬â¢s racial formation theory explains how we use race to create unequal power relations in our society. Race has no biological basis; rather it is something our society has socially constructed because racial categories create meanings of who a person is. Skin colour is not simply someoneââ¬â¢s skin; however skin colour creates a persons identity and holds significantRead More Cuban Race Relations Essay2599 Words à |à 11 PagesRelations I. Introduction- Retracing a History of Racial Scorn in Cuban Society: The study of race relations in contemporary Cuba indelibly requires an understanding of the dynamic history of race relations in this ethnically pervasive island of the Caribbean. Cuban society, due to its historical antecedents of European colonialism and American imperialism, has traditionally experienced anguished and even tumultuous race relations. Racial disharmony has plagued Cuban society ever since theRead MorePublic State Formation And Stimulation Of Increased Ethnic Conflict3180 Words à |à 13 PagesMichael Snyder State Building Sovereign State Formation and Stimulation of Increased Ethnic Conflict This paper looks to examine parallels in the rise of ethnic tensions that have followed state building efforts of multiple forms in regions that had legacies of colonial rule, traditionally independent states, and newly independent states. In considering the potential for ethnic conflicts to become violent we must consider the fact that the ethnic divisions have evolved in a longer runningRead More Cultural Diversity In Local Politics Essay3446 Words à |à 14 PagesThis paper explores the limits and potentials of ethnic and racial coalition building in Los Angeles. The demographic changes that have occurred in Los Angeles during the past twenty years have been extraordinary, both in scope and diversity. The area has witnessed a literal boom in population growth, increasing from 7 million in 1970 to 8.8 million in 1990. (US Bureau of the Census) However, it is the dramatic change in ethnic and racial diversity of the population which has caught most observersRead More The Social Realities of Rock ?n? Roll?s Birth and the Teenager3334 Words à |à 14 Pagesspeaks of racial barriers bridged through the fusion of Afro-American musical styles with white popular music in 1950s America. Not only did white record producers and radio disc jockeys market Afro-American artists, but white artists began to cover their songs, as well as incorporate Afro-American style into their own song writing. The musical style was so powerful that the white audience was infected by it, despite the social stigma that listening to ââ¬Å"race musicâ⬠possessed. The common view of teenagersââ¬â¢
Sex Education Should Be Taught in Schools Free Essays
Computer has become a very important part of our lives nowadays. During the past few years, computer has evolved in many ways and is probably without a doubt better than ever before. People are always trying to find something new that put in computer will improve our lives level. We will write a custom essay sample on Sex Education Should Be Taught in Schools or any similar topic only for you Order Now Computers can perform calculations much more quickly and accurately than humans. For example, modern computers can perform hundreds of millions of calculations per second. Large amounts of data can be stored in a small amount of space. For example, hundreds of pages worth of text can be stored on a 31?2inch floppy disk. Computers can work continuously and perform repetitive tasks well. Unlike their human counterparts, computers do not get bored or tire. Besides, information system has been with us for a long time, may be as the history of man him self. Then pencil and the clerk dominated the period around 1955. By today standard, data processing was very rudimentary for most organizations because i t was limited to only accounting system, payrolls etc to operate business for ex ample, order processing and invoicing but computer come along with changes. Businesses, and particularly the marketing aspect of businesses, rely a great deal on the use of computers. Computers play a significant role in inventory control, processing and handling orders, communication between satellite companies in an organization, design and production of goods, manufacturing, product and market analysis, advertising, producing the company newsletter, and in some cases, complete control of company operations. In todayââ¬â¢s extremely competitive business environment businesses are searching for ways to improve profitability and to maintain their position in the marketplace. As competition becomes more intense the formula for success becomes more difficult. Two particular things have greatly aided companies in their quests to accomplish these goals. They are the innovative software products and the World Wide Web. More and more manufacturing businesses are integrating some aspects of production, including inventory tracking, scheduling, and marketing. This idea, known as computer-integrated manufacturing (CIM), speeds processing of orders, adds to effective materials management, and creates considerable cost savings. In addition to designing and manufacturing a product, a company must be effectively able to advertise, market, and sell its product. Much of what passes for business is nothing more than making connections with other people. What if you could pass out your business card to thousands, maybe millions of potential clients and partners? You can, twenty four hours a day, inexpensively and simply on the World Wide Web. The computer is an incredibly tool. As long as we have a internet connection with computer, we are connected to the world. It is an international network that connects all websites and search engines to give us information, new, data and entertainment. In fact, it is a global library, newspaper, and entertainment centre rolled into one. How can we say that this is a bad thing? At the click of the mouse, we can get any information we want. We donââ¬â¢t have to go to the library to do it. Many local libraries do not have the resources that the computer has. We can also talk to anyone in the world as long as with internet connection , they allow people across the globe to communicate with each other, no matter at what time, via the use of email or any socials network. We do not have to write a letter, put it in an envelope with stamp and post it, waiting for weeks for a reply. Once we e-mail someone, that person get the message almost in instantly. When we use a chatroom, we can talk to anyone in the world. The last one advantage of Computer is faster document writing. We can safely say that is a good tool to us when we have to complete our homework, assignment, projects or research. Back-up copies of work can be made easily, without having to re-write everything, and keeping of records. How to cite Sex Education Should Be Taught in Schools, Papers
Saturday, April 25, 2020
Should Children Be Educated at Home or in School free essay sample
When you think of education, you almost think of public education. The schools are made to be the places where children can get suitable education, in order to have a successful career and all the goals they may set in life. Throughout the years, it is slowly changing. Many parents today decide home school is good for their children. This is due to the increasing number of violence acts produced in schools all over the world; more parents prefer to have their children educated at home rather than at school. Although most people think that a public education is better, most facts tend to show that home schooling is beneficial in more ways. First, homeschooled kids have better relationships and get closer with their family more than schooled kids. Parents play an important role in helping their children to learn at home. In this way, children will make good friends of their parents all the time. We will write a custom essay sample on Should Children Be Educated at Home or in School? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In addition to that, children will feel safe while sitting at home near their parents, and parents will feel contentment when their children spend more time at home in front of their eyes. Another reason for teaching children at home is that many children go to school nowadays not for studying, but they have other interests. For example, for showing off their new pair of jeans, and amazing their colleagues with a trendy haircut, or just meeting friends and have a little fun. Just few of them interest and concerns about learning and having good marks at school. Homeschooled kids are not encounter with sadly, peer pressure, competition, and boredom, which are part of a school. They can dress, act, and think the way they want, without fear of classmates. Some people may argue that socialization is a big problem of being homeschooled kids. There may be some truth in this; socialization is important to young people. However, until recently, it was never thought to be the reason that we sent our children to school. Can children socialize outside of school? Of course they can! Most home-educated children attend various activities. They can join clubs, play sports, take lessons and do volunteer work. In fact, there are many people more unhappy isolated, and very lonely children in schools, who are very often bothered and mistreated as well. In conclusion, home school is not suitable for everyone, and every family must consider their own circumstances. Home education should a right for those who are willing and able, and whose children are happier and better educated at home. Moreover, if a child prefers to learn at school, for whatever reason, this should be their choice. However, this method of education at home can be an advantage and beneficial in many ways, according to the real experiences of some families.
Wednesday, March 18, 2020
The recent advance in gene manipulation and gene therapy essays
The recent advance in gene manipulation and gene therapy essays This essay will show how the recent advances in technology have improved genetic engineering and gene therapy techniques. Genetic engineering will be explained regarding its use for gene diagnosis, drug synthesis and the production of vaccines. The influences of gene therapy on certain illnesses will be researched and social and ethical issues on genetic engineering and its use for therapies will be evaluated. Genetic engineering is the subject of many debates. It involves altering the genotype of an organism. There is some argument about what actually constitutes genetic engineering but, in general, it means taking a gene, or genes, from one organism and inserting them into another. This may be done for a number of reasons. It may be used to produce a desirable characteristic in the target organism, it may be used in order to make the target organism produce useful substances that are easily harvested, it may be used to attempt to treat genetic diseases or it may be used to further research how genes may be controlled. Whatever the reason, the principles involved remain the same. The development of techniques for manipulating and transferring genes has opened up opportunities to use microorganisms to synthesise biological compounds on a large scale, to enhance food production and to introduce treatments for human genetic disorders The procedure for genetic engineering involves inserting genes into microbes. In the first step it is necessary to remove the target DNA from the cell. This can be done using a detergent such as Sodium Dodecyl Sulphate which disrupts the plasma and nuclear membrane. Once this is done, enzymes are used to break down proteins so that the DNA can be safely extracted. In the next step restriction endonuclease enzymes are used to cut the required gene out of the host DNA. However, this is not a random process. Each of these enzymes will recognize a specific sequence of DNA and only cleave ...
Monday, March 2, 2020
Sense and Sensibility Quotes
Sense and Sensibility Quotes Jane Austen published Sense and Sensibility in 1811- it was her first published novel. Shes also famous for Pride and Prejudice, Mansfield Park, and a number of other novels in the Romantic Period of English Literature. Here are some quotes from Sense and Sensibility. They gave themselves up wholly to their sorrow, seeking increase of wretchedness in every reflection that could afford it, and resolved against ever admitting consolation in future.- Sense and Sensibility, Ch. 1People always live forever when there is an annuity to be paid them.- Sense and Sensibility, Ch. 2An annuity is a very serious business.- Sense and Sensibility, Ch. 2He was not handsome, and his manners required intimacy to make them pleasing. He was too diffident to do justice to himself; but when his natural shyness was overcome, his behaviour gave every indication of an open, affectionate heart.- Sense and Sensibility, Ch. 3On every formal visit a child ought to be of the party, by way of provision for discourse.- Sense and Sensibility, Ch. 6In hastily forming and giving his opinion of other people, in sacrificing general politeness to the enjoyment of undivided attention where his heart is engaged, and in slighting too easily the forms of worldly propriety, he displayed a want of caution which Elinor could not approve.- Sense and Sensibility, Ch. 10 Sense will always have attractions for me.- Sense and Sensibility, Ch. 10When he was present she had no eyes for anyone else. Everything he did was right. Everything he said was clever. If their evenings at the Park were concluded with cards, he cheated himself and all the rest of the party to get her a good hand. If dancing formed the amusement of the night, they were partners for half the time; and when obliged to separate for a couple of dances, were careful to stand together, and scarcely spoke a word to anybody else. Such conduct made them, of course, most exceedingly laughed at; but ridicule could not shame, and seemed hardly to provoke them.- Sense and Sensibility, Ch. 11There is something so amiable in the prejudices of a young mind, that one is sorry to see them give way to the reception of more general opinions.- Sense and Sensibility, Ch. 11When the romantic refinements of a young mind are obliged to give way, how frequently are they succeeded by such opinions as are but t oo common and too dangerous!- Sense and Sensibility, Ch. 11 It is not time or opportunity that is to determine intimacy it is disposition alone. Seven years would be insufficient to make some people acquainted with each other, and seven days are more than enough for others.- Sense and Sensibility, Ch. 12The pleasantness of an employment does not always evince its propriety.- Sense and Sensibility, Ch. 13At my time of life opinions are tolerably fixed. It is not likely that I should now see or hear anything to change them.- Sense and Sensibility, Ch. 17A fond mother ... in pursuit of praise for her children, the most rapacious of human beings, is likewise the most credulous; her demands are exorbitant; but she will swallow anything.- Sense and Sensibility, Ch. 21It was impossible for her to say what she did not feel, however trivial the occasion; and upon Elinor therefore the whole task of telling lies when politeness required it, always fell.- Sense and Sensibility, Ch. 21She was stronger alone; and her own good sense so well supported her, t hat her firmness was as unshaken, her appearance of cheerfulness as invariable, as, with regrets so poignant and so fresh, it was possible for them to be.-à Sense and Sensibility, Ch. 23 Death ... a melancholy and shocking extremity.-à Sense and Sensibility, Ch. 24I wish with all my soul his wife may plague his heart out.-à Sense and Sensibility, Ch. 30When a young man, be he who he will, comes and makes love to a pretty girl, and promises marriage, he has no business to fly off from his word, only because he grows poor, and a richer girl is ready to have him. Whyà dontà he, in such a case, sell his horses, let his house, turn off his servants, and make a thorough reform at once.-à Sense and Sensibility, Ch. 30Nothing in the way of pleasure can ever be given up by the young men of this age.-à Sense and Sensibility, Ch. 30Elinor had not needed ... to be assured of the injustice to which her sister was often led in her opinion of others, by the irritable refinement of her own mind, and the too great importance placed by her on the delicacies of a strong sensibility and the graces of a polished manner. Like half the rest of the world, if more than half there be that are clever and good, Marianne, with excellent abilities and an excellent disposition, was neither reasonable nor candid. She expected from other people the same opinions and feelings as her own, and she judged of their motives by the immediate effect of their actions on herself.-à Sense and Sensibility, Ch. 31 A man who has nothing to do with his own time has no conscience in his intrusion on that of others.-à Sense and Sensibility, Ch. 31Life could do nothing for her, beyond giving time for a better preparation for death; and that was given.-à Sense and Sensibility, Ch. 31She felt the loss of Willoughbys character yet more heavily than she had felt the loss of his heart.-à Sense and Sensibility, Ch. 32A person and face, of strong, natural, sterling insignificance, though adorned in the first style of fashion.-à Sense and Sensibility, Ch. 33There was a kind of cold-hearted selfishness on both sides, which mutually attracted them; and they sympathized with each other in an insipid propriety ofà demeanour, and a general want of understanding.-à Sense and Sensibility, Ch. 34Elinor was to be theà comfor/terà of others in her own distresses, no less than in theirs.-à Sense and Sensibility, Ch. 37The world had made him extravagant and vain - extravagance and vanity had made him cold-hearted and selfish. Vanity, while seeking its own guilty triumph at the expense of another, had involved him in a real attachment, which extravagance, or at least its offspring necessity, had requiredà to beà sacrificed. Each faulty propensity in leading him toà evil,à had led him likewise to punishment.-à Sense and Sensibility, Ch. 44 His own enjoyment, or his own ease, was, in every particular, his ruling principle.-à Sense and Sensibility, Ch. 47Elinor now found the difference between the expectation of an unpleasant event, however certain the mind may be told to consider it, and certainty itself. She now found that, in spite of herself, she had always admitted a hope, while Edward remained single, that something would occur to prevent his marrying Lucy; that some resolution of his own, some mediation of friends, or some more eligible opportunity of establishment for the lady, would arise to assist the happiness of all. But he was now married; andà she condemned her heart for the lurking flattery which so much heightened the pain of the intelligence.-à Sense and Sensibility, Ch. 48
Friday, February 14, 2020
ICELAND'S FINANCIAL CRISIS Case Study Example | Topics and Well Written Essays - 2000 words
ICELAND'S FINANCIAL CRISIS - Case Study Example During this time period, home values began to fall dramatically and sub-prime rates eventually readjusted so that individuals owed up to double their original mortgage value on homes that were no longer even worth their original market value. A vast variety of the sub-prime mortgages offered to individuals who actually did not maintain quality resources to sustain an adjustable home loan interest rate were suddenly forced into foreclosure, which left lending institutions with a significant inventory of now bank-owned homes worth less than their mortgage values at the time of signing. As the housing bubble burst and grew more fiscally unsound, global investors found that the many derivatives (swaps) associated with home mortgages were no longer viable and lucrative opportunities for investment (Simkovic, 2011). Many investors from the European Union and the United States began looking for better investment opportunities, leaving financial institutions offering these derivatives with c onsiderably less quarterly and annual revenues stemming from mortgage-backed swaps and securities. Because mortgage-related derivatives were, for many years, adequate and lucrative profit opportunities for financial institutions, many offering these securities backed by mortgage guarantees had not diversified their revenue-earning capacities. As such, investment trading partners in the United States witnessed capital depletion rapidly where many institutions required significant fiscal bailouts to keep the entity afloat. Further complicating this situation was what is referred to as a bank run, where nearly five billion dollars in investment resources were withdrawn domestically and internationally in a 48 hour period by concerned and speculating investment firms and independent investors (Altman, 2009). Low-valued credit default swaps, a variety of mortgage related derivatives, and banking facility capital depletion soon hit Iceland and many other European countries. Iceland, after banking privatization had been established, was very dependent on making investments in international capital markets (Olsen, 2010). However, this instability and credit downgrading that occurred during the sub-prime crisis in the U.S. had destabilized multiple investment opportunities associated with mortgage-backed securities and derivatives. Thus, a once lucrative revenue source for Icelandic banks and other financial institutions no longer provided adequate capital infusion for the now-private banking facilities in the country. Since there had not been enough portfolio diversification in Iceland to spark domestic investment opportunity to offset dependencies on international investment losses, the exchange rate of the Icelandic currency value was affected and derivatives relationships with foreign banking partners were largely nullified. As the IMF and the U.S. Central Bank began changing monetary policy and increasing regulation to correct the sub-prime crisis, it inflated the U.S. dollar which only served to further weaken the value of the Iceland currency on the international exchange markets. How could the Iceland Crisis have been Avoided? Firstly, Iceland should have recognized that the U.S. would not necessarily have explosive gains on mortgage-related securities and derivatives that would endure indefinitely. The U.S. had a long history of a volatile housing market which should have provided adequate
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