...financial Crisis that I understood is where a period of time, there was a great depression on workers, consumers, producers and the peoples due to major losses that happened globally between investment banks, insurance company, Audit firms, financial services firms and other multinational corporations. What are the causes that these entire gigantic firms led to major losses? This economic crisis had cost ten millions of people lost their savings, their jobs and their homes. The first part of the video was about Iceland country. Iceland is such a beautiful country with fresh air, foods, efficient operations of geothermal and hydroelectric and where the economic was stable in marketing before the crisis happen. Iceland is one of the high standard living countries. In 2008, the population is very high about 320,000 and the GDP of the country was $13billion, the bank had major losses about 100billions. During the year of 2008, Iceland banks collapses due to borrowers unable to settle their debts from lenders. Unemployment triples in 6 months. The three banks in Iceland which are Iceland’s banking, Kaupping and GLINTR had borrowed money which is three times the economics of Iceland. Government had financial deregulation. The government could not able to protect the citizen during this crisis. Collapses of major bank in US and Iceland are main causes to this crisis The major Investment banks which are Lehman brothers, Merrill Lynch and Bears Stearns, Goldman Sachs, Morgan Stanley, the major...
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...this catastrophe reach all the way across the Atlantic Ocean to Europe? One of the contributing factors to the spread of this deadly contagion was Iceland. Iceland experienced its own economic crisis soon after America began suffering its own. This economic crisis involved the default of all three of the country’s major commercial banks and “a cascading spiral of borrowing on easy terms by Iceland's businesses and individuals”(Laurence). A bank defaults once its liabilities outweigh its assets. While mostly seen in consumers, defaulting can happen to a bank as well if enough people default on their loans that the rest of the shareholders cannot be given then money they have originally invested. Once the public becomes aware of the bank’s failure they may begin pulling their assets from the bank, draining the fragile economic system inside the banking and causing the bank to default. This happened to every major bank in Iceland and created the largest financial crisis that any country has seen in economic history. Even though Iceland is seemingly far away from continental Europe, two successive financial crises in the same year caused global panic. Iceland’s issues stemmed from a spree of rash loans made by these banks to various different companies and corporations. The high of being an affluent nation seemed to have influenced Iceland in a more serious way as their lending and...
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...| Introductory Paper | Inside job documentary | | Mouna Jama Ali Osman | 10/19/2013 | | The movie "Inside Job" gives a deep look at the financial crisis as it discusses the reasons of the global financial crisis that has cost people's money, their houses and property and also their jobs. The movie begins with one of the most famous examples that affected by the crisis which is Iceland. Notably by their nature, picturesque view and a strong economy, Iceland began the deregulation policy which would cause major problems in the environment and the economy. When the financial crisis happened, the government was owed billions of money as debt and lots of people lost their money and jobs. The movie then went to explain the roots of the problem as the crisis was actually doing not happened suddenly but began thirty years ago at the former President Reagan’s era. He reorganized investment laws and reduced suppression to allow the saving and loan companies to make riskier investments with their customer’s money. As the deregulation was implemented, the illegal activities that are done by the biggest financial companies was increasing such as money laundry, customers defraud and etc. The legal and legislative lenient were the reason to create new and suspicious products called derivatives which would have a bad effect in the economy. Using derivatives, they can gamble on anything even in bankruptcy of the company and failure of investment. Although there were attempt...
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...This was not eh case in Greenland. Here, the collapse was total and absolute: when a trade ship arrived in , there was not a soul to be found. After approximately 500 years of survival, the both the Western and Eastern settlements were dead. There have been several theories about what could have a happened to end such a long standing civilization, including climate change, attacks from the Iunit people, failure to adapt, environmental degradation, and breakdown of trade....
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...To discuss this view there is a need to understand what a hazard is and what are the volcanic hazards. A hazard is something that causes danger or risk. In the case of volcanic activity it is an event which can cause risks to human life or the surrounding environment. There are specific hazards which occur with volcanic eruptions such as pyroclastic flows, lava flows and the gas emissions from the volcano however there are also secondary hazards that can occur such as lahars, landslides and tsunamis. These are all natural however, the impacts can be worsened by human activity. The impact on humans depends on the amount of human activity surrounding the volcano and the human activity which occurs within the greatest risk area. Around the world, volcanic events can vary in both size and frequency this can be down to the type of plate boundary that the volcanoes lie on but also the type of lava that is known to that volcano. It can be argued that the volcanic hazards depend on the physical factors rather than human factors. For example the eruption that occurred in Iceland in 2010. There were 2 phases which had distinct physical differences and this then affected human activity in a number of different ways. Eyjafjallajökull’s first eruption occurred on the 20th March 2010 and it lasted 6 weeks. It didn't gain much interest from world wide media due to the fact there wasn't any explosive events which affected other parts of the world. This was down to the fact the lava that came...
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...Food Safety Authority of Ireland reveals the results of a targeted study that has found undeclared horse DNA in frozen beef burgers on sale in Tesco, Iceland, Aldi and Lidl. The Tesco beef burgers, tested as 29% horse, were supplied by ABP Silvercrest in County Monaghan. ABP, one of the largest beef processors in Europe, owned by Larry Goodman, emerges as being at the centre of the horsemeat scandal. This proves that acting more responsibly should be the main objective of a business because acting more responsibly means making better decisions, and if Tesco had make a better decision regarding the beef processor company they use, this may not have ever happened. The reason Tesco is the company facing the most consequences is because it is the most well-known and most expected to provide high quality food that meets the description on the pack. Tesco should have also made they were overseeing what was going on in the factories and keeping track of where the meat was coming from etc. ABP points the finger at continental suppliers, including imports from Poland. It is not only Tesco that should have acted more responsibly, if ABP’s claims of this controversy being the fault of continental suppliers, they should have made the decision to use local suppliers or have imports coming from just one location where they can keep track of what is going on, not from many different continental suppliers which are evidently untrustworthy. They had produce from a variety of places e.g. Poland,...
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...diversity. Skip to content * Home * About * Last 2000 Posts in Order ← Civil war up, humanism down: Pepe Escobar, by Pepe Escobar The Oracle Report, Monday, April 13, 2015 → :) :) :) Iceland Stuns Banks: Plans To Take Back The Power To Create Money Posted on April 13, 2015 by Jean By Raúl Ilargi Meijer Zero Hedge April 1, 2015 Submitted by Raul Ilargi Meijer via The Automatic Earth blog, Who knew that the revolution would start with those radical Icelanders? It does, though. One Frosti Sigurjonsson, a lawmaker from the ruling Progress Party, issued a report today that suggests taking the power to create money away from commercial banks, and hand it to the central bank and, ultimately, Parliament. Can’t see commercial banks in the western world be too happy with this. They must be contemplating wiping the island nation off the map. If accepted in the Iceland parliament , the plan would change the game in a very radical way. It would be successful too, because there is no bigger scourge on our economies than commercial banks creating money and then securitizing and selling off the loans they just created the money (credit) with. Everyone, with the possible exception of Paul Krugman, understands why this is a very sound idea. Agence France Presse reports: Iceland Looks At Ending Boom And Bust With Radical Money Plan Iceland’s government is considering a revolutionary monetary proposal – removing the power of commercial banks to create money and handing it...
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...diversity. Skip to content * Home * About * Last 2000 Posts in Order ← Civil war up, humanism down: Pepe Escobar, by Pepe Escobar The Oracle Report, Monday, April 13, 2015 → :) :) :) Iceland Stuns Banks: Plans To Take Back The Power To Create Money Posted on April 13, 2015 by Jean By Raúl Ilargi Meijer Zero Hedge April 1, 2015 Submitted by Raul Ilargi Meijer via The Automatic Earth blog, Who knew that the revolution would start with those radical Icelanders? It does, though. One Frosti Sigurjonsson, a lawmaker from the ruling Progress Party, issued a report today that suggests taking the power to create money away from commercial banks, and hand it to the central bank and, ultimately, Parliament. Can’t see commercial banks in the western world be too happy with this. They must be contemplating wiping the island nation off the map. If accepted in the Iceland parliament , the plan would change the game in a very radical way. It would be successful too, because there is no bigger scourge on our economies than commercial banks creating money and then securitizing and selling off the loans they just created the money (credit) with. Everyone, with the possible exception of Paul Krugman, understands why this is a very sound idea. Agence France Presse reports: Iceland Looks At Ending Boom And Bust With Radical Money Plan Iceland’s government is considering a revolutionary monetary proposal – removing the power of commercial banks to create money and handing it...
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...until the end of the Viking Age. 2. What were the Vikings houses like?? Vikings lived in long rectangular homes made structures that were made of straight timbers, wattle and stone. The homes were generally one roomed with a cooking fire in the middle. 4. Money?? The Vikings first money was the coinage. Few people in Scandinavia had any knowledge about the coinage. The idea of coinage as such was unfamiliar. Coins were valued only for their weight in silver or gold and circulated alongside many of the other forms of precious metal. 5. Food?? The Vikings main food sources are farming and fishing. Meat and fish can be smoked or rubbed with salt. Fruit can be dried; grains are made into bread or ale. Dairy produce such as milk is made into cheese. For dessert the Vikings will eat fresh fruit and a little honey on buttered bread. Beer will be drunk as well as mead. (a beverage made from honey) 6. Long Ship?? The long ship was equipped with both sails and oars. The shallow draught of these ships meant that they were able to reach far inland by river and stream 7. Weapons?? The main offensive weapons were the spear, sword and battle-axe, although bows and arrows and other missiles were also used. Weapons were carried not just for battle, but also as symbols of their owners' status and wealth. They were therefore often finely decorated with inlays, twisted wire and other adornments in silver, copper and bronze. 8.What happened to them?? By the 11th century they...
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...FREE TILLY Chistine Medina It happened late in February in 2010. Families with children of all ages were seated in Shamu Stadium waiting and watching for their star to give its world famous performance. His name was Tilikum and the 12,000-pound killer whale had performed the same routine with the same trainers many times before. However, on that day in February, something was different. News reports claimed that it was “trainer error’ that caused Tilikum to grab his trainer, Dawn Brancheau’s, ponytail and drag her into the water with him. It took the other trainers 45 minutes to extricate Brancheau’s body, which Tilikum held in his mouth and would not let go. All the trainers in Sea World, located in Orlando, Florida, as well as other locations throughout the United States, agreed that Tilikum was well behaved, easy to work with and always eager to please. So what exactly made Tilikum act so violently and take the life of his trainer? There is a reason that there have been no documented deaths of humans by killer whales in the wild – it is obvious that being forced to live and perform in captivity is the reason behind it. It has been argued and scientifically proven that no human being has ever been killed by a killer whale, or orca, in the wild. On the other hand, there at least a dozen documented deaths due to killer whales throughout the world. The main reason this is said to be true is because killer whales, which can grow to be more than 30 feet long and weigh up to...
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...financial crisis of 2008. It takes a look at all the relative players and their roles in the crisis. The movies highlights the bankers, big business, the politicians and even the academic arena and how their decisions caused one of the greatest recessions and global economic crisis in history. This recession resulted in: cost the world 10+ trillions of dollars; 30 million unemployed; and doubled national debt of US. What happened? The movie starts out talking about Iceland and how it quickly succumbed to a financial crisis after privatization of the banking industry in just a short period of time. The documentary then goes into depth with how the collapse of Lehman Brothers and AIG caused the economic crisis of 2008. It discusses how deregulation in the banking industry led to greed of the bankers, rating agencies and regulators. This greed led to a lot of wealthy business and CEO’s but led to 100s of thousands of people losing their jobs, homes and livelihoods. They also lost confidence in the government and the ability to protect them from future failures. What caused it? The movie suggest that deregulation in the financial industry was the main culprit of the crisis. “Scaling back of government oversight and the weakening of checks on speculative activity by banks began under Reagan and continued during the Clinton administration. And with each administration the market in derivatives expanded, and alarms about the dangers of this type of investment were ignored.” This...
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..."Free Willy" describes the bond of a young boy and an orca. Both coming from harsh pasts, the two befriend each other throughout the story. However, Dial, the owner of the park thinks that the whale's worth is in the profit it makes. I believe that mindset can be related to the corrupt place we have come to known called SeaWorld. February 24, 2010 was just another regular day for whale trainer, Dawn Brancheau. Today was another highly anticipated Shamu show displaying the training and talents of the biggest killer whale in captivity in SeaWorld’s history, Tilikum. What Brancheau and Seaworld did not know was that this day would infamously impact the “brand name” that Tilikum had begun for SeaWorld and that this event would trigger the movement to end killer whale captivity. The Birth Of A Murderer In 1983, a huge killer whale that would be known as Tilikum was caught in Iceland. After being captured in Iceland, Tilikum then spent...
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...Classification of Volcanoes 1) Active volcanoes: erupted within historical times (within the last 600 years), accounts of these eruptions were documented by man; erupted within the last 10,000 years based on analyses of datable materials. 2) Potentially active volcanoes: morphologically young-looking but with no historical records of eruption. 3) Inactive volcanoes: no record of eruptions; physical form is being changed by agents of weathering and erosion via formation of deep and long gullies. Distribution of volcanoes 1. Ring of Fire Surrounds Pacific Ocean. 2. Hot spots Hawaiian Islands mantle plumes 3. Spreading centers mid-ocean ridges (Iceland) rift valleys (Mt. Kilamanjaro, Africa) 4. Oil spill occurs in C. Philippines Xinhua | March 02, 2012 15:46 By Agencies | E-mail Print | 5. Oil spill occurred in the central Philippine province of Cebu covering a 20-meter area of its international seaport, the Philippine Coast Guard (PCG) said on Friday. 6. PCG Spokesman Algier Ricafrente said that almost 50 liters of oil spill were seen off the Cebu International Port (CIP). 7. Upon verification by the Marine Environmental Protection Unit ( MEPU), MEPU-Cebu personnel conducted a clean-up operation by scooping the oil and applying sorbent materials on the affected area. 8. Inspection revealed that the oil spill was traced at the Mahiga Creek located between Cebu City and Mandaue City that flowed toward the CIP during high tide. ...
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... -Deepshikha Dubey SYBCOM (Hons) Roll number-1071 ‘I nside job’ true to its title, is an exasperating documentary about the actual causes and consequences of the financial crisis of 2008. Directed by Charles Ferguson and narrated by Matt Damon, the movie is not a piece of muckraking or breathless support. It rests its infuriation on proper reason, research, figures and careful argument. Several interviews of eminent personalities from political, financial and academic backgrounds, along with news clips and aerial shots of New York, Iceland, London and other disaster areas — are all in there! Though dealing with a very complex issue, the movie has beautifully dealt with the topic and made it much easier for common man to understand the reason behind the nerve wrecking recent financial crisis that hit USA and then the world’s economy. The film is divided into five main parts, covering a wide scope- Who, what, when, why, how… it is all answered! Unlike most other documentaries that have been released over the past several years, ‘inside job’ bases its arguments on numbers and facts and doesn't just emotions. The first part of the movie- “How we got here?” Takes the viewers back to history in the 1930s when US had a strong financial system. The regular banks were local businesses and were not allowed to mess around with the depositor’s money. The investment banks were private partnerships and thus did not make risky investments. The journey of US’s finance...
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...Hallee Callizo English 101/Dahlman Final Essay 2 13 March 2015 In John McPhee’s, The Control of Nature he talks about how no matter what you think should happen nature will continue doing things in its own way. In the chapters“Cooling the Lava” and “Los Angeles against the Mountains” the situations and catastrophes that have caused harm to these places demonstrate that Mother Nature has its own way of life and people cannot simply stop what is happening. With McPhee telling his readers that people who try to change or stop nature need to realize that this attempt is futile, because humans cannot control nature. They cannot stop the volcanoes from erupting lava or can we stop the boulders from falling down the mountain. In the book/monograph/treatise, in the chapter “Cooling the Lava” Thorbjorn, who is a native from Iceland has this idea that he will stop the lava from flooding by cooling. With his logic of cooling the lava, the water would reduce the heat in order to create a wall of cooled lava that would dam the flow. “The lava should be cooled not so much by the edge as by the acre, and that called not only for more pumps but also for the development of material and personnel up on top of the advancing flow”(McPhee 98). With this being said, it should be obvious that humans cannot be the ones to stop Mother Nature. The destruction the lava has made is a big mess we face. It is destroying the homes of many people, but that is only affecting the people who live there...
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