What Is Deuterium - Deuterium Facts

What is deuterium? Heres a look at what deuterium is, where you might find it, and some of the uses of deuterium. Deuterium Definition Hydrogen is unique in that it has three isotopes which are named. Deuterium is one of the isotopes of hydrogen. It has one proton and one neutron.  In contrast, the most common isotope of hydrogen, protium, has one proton and no neutrons. Because deuterium contains a neutron, it is more massive or heavier than protium, so it is sometimes called heavy hydrogen. Theres a third hydrogen isotope, tritium, which may also be called heavy hydrogen because each atom contains one proton and two neutrons. Deuterium Facts The chemical symbol for deuterium is D. Sometimes the symbol 2H is used.Deuterium is a stable isotope of hydrogen.  In other words, deuterium is not radioactive.The natural abundance of deuterium in the ocean is approximately 156.25 ppm, which is one atom in 6,400 of hydrogen.  In other words, 99.98% of hydrogen in the ocean is protium and only 0.0156% is deuterium (or 0.0312% by mass).The natural abundance of deuterium is slightly different from one water source to another.Deuterium gas is one form of naturally occurring pure hydrogen. Its chemical formula is written as either 2H2 or as D2. Pure deuterium gas is rare. Its more common to find deuterium bonded to a protium atom to form hydrogen deuteride, which is written as HD or 1H2H.The name for deuterium comes from the Greek word deuteros, which means second. This is in reference two the two particles, a proton, and a neutron, which make up the nucleus of a deuterium atom.A deuterium nucleus is termed a deuteron or deuton.Deut erium is used as a tracer, in nuclear fusion reactors and to slow down neutrons in heavy water moderated fission reactors.Deuterium was discovered in 1931 by Harold Urey. He used the new form of hydrogen to produce samples of heavy water. Urey won the Nobel Prize in 1934.Deuterium behaves differently from normal hydrogen in biochemical reactions. While its not deadly to drink a small amount of heavy water, for example, ingesting a large quantity can be lethal.Deuterium and tritium form stronger chemical bonds than the protium isotope of hydrogen. Of interest to pharmacology, its harder to remove carbon from deuterium. Heavy water is more viscous than ordinary water and is 10.6 times denser.Deuterium is one of only five stable nuclides that has an odd number of both protons and neutrons. In most atoms, odd numbers of protons and neutrons are unstable with respect to beta decay.The presence of deuterium has been confirmed on other planets in the solar system and in the spectra of star s. The outer planets have roughly the same deuterium concentration as each other. It is believed most of the deuterium present today was produced during the Big Bang nucleosynthesis event. Very little deuterium is seen in the Sun and other stars. Deuterium is consumed in stars at a faster rate than it is produced via the proton-proton reaction.Deuterium is made by separating naturally-occurring heavy water from a large volume of natural water. Deuterium could be produced in a nuclear reactor, but the method is not cost-effective.

Case Presentation And History Michael - 1728 Words

Case presentation and history Michael is a 12 years old boy who is a slim built and he is attending year seven at a local High school for visual Arts and Design. Michael is living with his mother, father, and younger brother. Michael has presented symptoms of severe stress, moderate mood, and normal anxiety during the last week before the assessment. Michael has a history Obsessive Compulsive Disorder and he indicated fears of harming other, resulting in checking and reassurance behaviour as well as he tended to be a perfectionist on some tasks. Michael reported a symptom of liable mood, increased energy and hyperactive behaviour for a month-long period in the last three months. Also, he had a symptom of difficulties with attention and†¦show more content†¦The score is 31 which means that Michael is mildly ill with an impairment score of 5% (Leclair, Leclair Brigham, 2009). Per this test Michael has shown symptoms during the last week including very mild depression, mild anxiety and moderate hostility i ndicating that Michael was overtly angry on several occasions or yelled at others excessively. Kessler 10 (k10) This test is used to the psychological distress and the score is 21 which means that Michael has a mild distress. Also, Michael during the last week showed symptoms of moderate restless and fidgety as he could not sit still, he was a little of time nervous and worthless, and depressed. Also, he sometimes feels tired out and sad that nothing could cheer him up. Depression Anxiety Stress scale 21 (DASS21) Michael scored 9 in depression scale which indicates that he has moderate depression as it was difficult for him to work up the initiative to do things. And scored 2 in anxiety scale which indicates that he has not anxiety because he has the normal range. Also, scored 13 in stress scale which indicates that he has severe stress as he always was agitated and was difficult for him to relax. He often finds it hard to wind down and intolerant of anything that disturbing him during any task (Lovibond Lovibond, 1995). Social Interaction Anxiety Scale (SIAS) Michael scored 27 which indicates that is normal in social functioning and heShow MoreRelated Influence of Religion on Society during the Fifteenth and Sixteenth Centuries1484 Words   |  6 PagesInfluence of Religion on Society during the Fifteenth and Sixteenth Centuries The undeniable power, force, and influence of religion stand out throughout history. However, according to J. Michael Allen and James B. Allen in World History from 1500, in the fifteenth and sixteenth centuries, religion was exceptionally important, because it had a great influence on everything from government to social order and family relationships (16). 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Structured Process Operational Management

Question: Discuss about the Structured Process for Operational Management. Answer: Introduction The operational management is considered as the structured process of achieving the organisational goals. The essay focuses on developing the argumentative discussion based on the operational management issues faced by Hawkesbury Cabinets Pty Ltd. Operation management refers the business administrative process that is needed to be improvised to achieve the pre-determined goals. In presenting an argumentative essay, it is required to keep the concentration on the in-depth analysis of the underlying business incidents. These incidents have been creating the significant impact on the operation management process undertaken by the company. It is to be stated that the operational plan requires structuring the sequential process that can be beneficial for the upcoming future of the company. Undertaking the relevant decision is thus necessary (Nafari, Ngo Lehman, 2016). The case study is analysing the business operation process of Hawkesbury Cabinets, which manufactures the custom-built kitchen cabinet. The company was controlled by two main owners, Mei Chen and Fung. The primary objective of the company was to increase the sales ratio by manufacturing the custom-kitchen cabinet. This initiative had created the greater influences on organisational reputation within a recognised community. The owners of the company set their aims to capture a larger position in the market to ensure much profitability. The improvement of the quality parameter can be fruitful enough to darw the attention of the target customers (Wong et al. 2012). Therefore, it was decided to enhance the quality parameter of the kitchen cabinet that will be offered to the clients. The study will be providing the in-depth ideas about the recognised issues faced during implementing such beneficial strategies. The argument will be determining the diversified influences that the company ha d to face in the operation management process. Discussion It is mentioned that the company was focusing on improvising the quality parameter of the kitchen cabinets. This initiative was based on the operational management procedure undertaken by the company. At the first step, the company faced the serious difficulties in planning, designing, and execution process. The location-based issues were also foreseen in the operation management process. The analysis of the case study is thus needed to be much argumentative. It is noted that Hawkesbury Cabinets Pty Ltd requires identifying the current production system. The operational processes are mainly implemented in order to satisfy the needs of the community (Tano, 2013). During the business operations, the company faced the shifting demands of the target customers. In such time, the sales ratio of the existing products increased in a significant manner. The financial structure of the company also increased due to such growth in the sales ratio. Therefore, the company had the significant oppor tunity to manufacture the additional products by ensuring the small contract volume. The managing director of the company started concentrating on increasing sale value and deriving profits from the target market. Slack (2015) proclaimed that the company adopted the Job Shop manufacturing process, which was helpful enough to identify the proper quality parameter of the materials. This Job shop manufacturing process is considered as the fruitful process for sustaining the production of the small batches of builders kitchen. In fact, the company can even achieve the expectation level of the target customers. On the contrary, Burke (2013) presented the argument by stating that the proper manufacturing process requires the unique set up and structural steps. It is not easy procedure for any company to implement any operational plan without planning in a sequential order. The operational management process requires the investment of the proper capital resources (Lindberg, Voss Blackmon, 2013). The limited resources were another concern for the company. The obtained idea from this case study is highlighting that fishing and painting departments in the products are completely different to each other . Therefore, the company faced the hurdles in arranging the sequential process of executing the operational planning. The case study indicates that the company could not achieve the effective financial profits. In spite of the investments on the production, the company failed to structure the proper operational techniques to facilitate benefits. Simultaneously, it was seen the business faced the fundamental challenges associated with the invested costs in the product line. Golicic Smith (2013) pointed out that while undertaking the manufacturing process, it is required to follow the cost of the raw materials. Due to such production charges, the operational efficiency of the business was affected much significantly. If the company can keep the focus on supplying the materials from outside sources, it will be beneficial to provide the products perceived by the target customers (Kerzner, 2013). The discussion from the case study is also highlighting that the shortage of the space is also one of the major concerns for the company. If the company needs to expand the storage, more capital amount is neede d to be invested. It is clearly seen that the ineffective decision making process is the major reason behind such hurdles faced by the company. If the operation manager could undertake the sequential and effective procedure of executing the plan, it would have brought several benefits to the company. It is to be noted that the sudden decision of shifting to the production of the builders kitchen may create the significant effects on the financial structure of the company. It can be argued that if the company is completely focusing on continuing with the builders kitchen production, it is required to implement the job shop manufacturing technique. Due to the limited space in the existing manufacturing process, it is required to keep the focus on the storage available for implementing new techniques of manufacturing process (Meredith Shafer, 2012). It is important to note that the expansion of the storage is also much cost effective process. The company needs to invest more capital amount, which hampered the financial structure of the company. On the hand, the operational manager faced the significant challenge in undertaking the relevant decision regarding the investment process (Subramanian Ramanathan, 2012). Hence, it can be interpreted the operational management process under taken by Hawkesbury Pty Ltd. is creating the radical effects on the financial structure of the company. Conclusion The case study is based on the operational management procedures undertaken by Hawkesbury Pty Ltd. The critical arguments underlying the case study is highlighting the irrelevant decision making process. It is noted that the company tried increasing the revenue by considering the sales of the product line. The obtained idea form the above discussed arguments is specifying that the operational issues are mainly occurred due to the lack of proper sequential process. In fact, the irrelevant decision is also responsible for such issues. The inefficient planning of the operational management can hamper the entire organisational structure. Therefore, it is much important to engage the experienced operational manager who can structure the operational plan in a sequential process. The effective decision making is also necessary for the implementation of skilful operational plan. References Burke, R. (2013). Project management: planning and control techniques.New Jersey, USA. Golicic, S. L., Smith, C. D. (2013). A metaà ¢Ã¢â€š ¬Ã‚ analysis of environmentally sustainable supply chain management practices and firm performance.Journal of Supply Chain Management,49(2), 78-95. Kerzner, H. R. (2013).Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Lindberg, P., Voss, C. A., Blackmon, K. L. (2013).International manufacturing strategies: context, content and change. Springer Science Business Media. Meredith, J. R., Shafer, S. M. (2012).Operations management for MBAs. John Wiley Sons, 191-219. Nafari, R. H., Ngo, T., Lehman, W. (2016). International Journal of Disaster Risk Reduction. Slack, N. (2015).Operations strategy. John Wiley Sons, Ltd. Subramanian, N., Ramanathan, R. (2012). A review of applications of Analytic Hierarchy Process in operations management.International Journal of Production Economics,138(2), 215-241. Tano, M. (2013).U.S. Patent No. 8,421,864. Washington, DC: U.S. Patent and Trademark Office. Wong, C. W., Lai, K. H., Shang, K. C., Lu, C. S., Leung, T. K. P. (2012). Green operations and the moderating role of environmental management capability of suppliers on manufacturing firm performance.International Journal of Production Economics,140(1), 283-294.

Summary of Blade Runner Death and Resurrection

Alan Turing, the founder of artificial intelligence established the Turing Test to aid in differentiating between human and artificial intelligence among other things.Advertising We will write a custom book review sample on Summary of Blade Runner: Death and Resurrection specifically for you for only $16.05 $11/page Learn More The test symbolizes the move to believe that positions are not permanent, while essentialist ideas of human nature are diluted. This post-modernistic thinking argues that humans develop themselves through dreams, histories, myths, stories, and memories. Langer says that postmodernism is symbolized by numerous questions as human beings attempt to understand the mystery of this world. The breakthrough in genetic engineering and artificial intelligence makes it hard to differentiate what is imaginary from what is real among others. Films and cinematic texts give reliable resources of understanding our consciousness. Ironically, these resources give a notion of â€Å"present†, while in actual sense they establish an artificial understanding of space and time. Films impress patterns in our every day occurrences and together with statements and differences of our humanity thus shaping consciousness. Blade Runner is one of the films that show how humanity shapes its identity and the expectations it makes based on the nature of its surrounding. The film shows a world full of corporate greed and technological growth. It portrays the city of Los Angeles as a city that cannot be inhabited. While most of the reasonable people choose to live in the outer space, they encounter a crisis of living with genetically engineered beings referred to as â€Å"replicants†. The crisis narrows the boundary between artificial and human. The film shows the existing level of expectation and confusion in humankind by showing instances of constant happenings, disappearances, and flourishing information. There is a division in society such that people speak different languages. Besides, harshness in the society is so great that only adults live in the society. Technology has led to the establishment of social classes where the intelligent use and discard the less intelligent at will. As the film continues, it reveals that most of the people living in Los Angeles do not enjoy their freedom as their superiors direct them on what to do. Only those in authority like Tyrell enjoy freedom. The power-holders signify the shaping of a culture that uses and later throws away what it uses. Tyrell throws away Rachel (a replicant) after using her for a long period. The replicants’ abilities indicate the tailor-made work programs, employment arrangements, and production systems that currently exist in the modern corporations.Advertising Looking for book review on american literature? Let's see if we can help you! Get your first paper with 15% OFF Learn More According to the film, disbelief is high in postmodernism in terms of distinguishing the real and imaginary. There is no clear difference between the replicants and the real people as shown by the tests conducted. Man has made most of his understandings in his own image such that it is hard to distinguish the real from the artificial and thus man is in the struggle of establishing his identity. Blade Runner warns on the dangers of chauvinistic science that is dominating the postmodern world. The film portrays the Los Angeles of 2019 as a total ruin caused by men’s dominance. Men dominate everything. As the film shows the development of human images and their destruction, it brings out the idea of creation and death or destruction. The film uses a dove to signify its opinion that a law, which embraces feminism, ought to rule post-apocalyptic society characterized by corporate greed in a bid to deal with male dominance in the society. This book review on Summary of Blade Runner: Death and Resurrection was written and submitted by user W1nterS0ld1er to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

The Outsiders Study Guide for Test and Final Flashcard

The Outsiders Study Guide for Test and Final

Day in the life of Bob Essay

Day in the life of Bob Essay Day in the life of Bob Essay Writing Research Papers Writing is easy. All you do is stare at a blank sheet of paper until drops of blood form on your forehead. - Gene Fowler A major goal of this course is the development of effective technical writing skills. To help you become an accomplished writer, you will prepare several research papers based upon the studies completed in lab. Our research papers are not typical "lab reports." In a teaching lab a lab report might be nothing more than answers to a set of questions. Such an assignment hardly represents the kind of writing you might be doing in your eventual career. Written and oral communications skills are probably the most universal qualities sought by graduate and professional schools as well as by employers. You alone are responsible for developing such skills to a high level. Resources for learning technical writing Before you begin your first writing assignment, please consult all of the following resources, in order to gain the most benefit from the experience. General form of a typical research article Specific guidelines (if any) for the assignment – see the writeups on individual lab studies McMillan, VE. "Writing Papers in the Biological Sciences, Third Ed." New York: Bedford/St. Martin's, 2001. ISBN 0-312-25857-7 (REQUIRED for Bioc 211, 311, recommended for other science courses that include writing) Writing portfolio examples (pdf) As you polish up your writing skills please make use of the following resources Instructor feedback on previous assignments Common errors in student research papers Selected writing rules (somewhat less serious than the other resources) For Biosciences majors the general guidelines apply to future course work, as can be seen by examining the guidelines for the advanced experimental sciences research paper (Bioc 311). General form of a research paper An objective of organizing a research paper is to allow people to read your work selectively. When I research a topic, I may be interested in just the methods, a specific result, the interpretation, or perhaps I just want to see a summary of the paper to determine if it is relevant to my study. To this end, many journals require the following sections, submitted in the order listed, each section to start on a new page. There are variations of course. Some journals call for a combined results and discussion, for example, or include materials and methods after the body of the paper. The well known journal Science does away with separate sections altogether, except for the abstract. Your papers are to adhere to the form and style required for the Journal of Biological Chemistry, requirements that are shared by many journals in the life sciences. General style Specific editorial requirements for submission of a manuscript will always supercede instructions in these general guidelines. To make a paper readable Print or type using a 12 point standard font, such as Times, Geneva, Bookman, Helvetica, etc. Text should be double spaced on 8 1/2" x 11" paper with 1 inch margins, single sided Number pages consecutively Start each new section on a new page Adhere to recommended page limits Mistakes to avoid Placing a heading at the bottom of a page with the following text on the next page (insert a page break!) Dividing a table or figure - confine each figure/table to a single page Submitting a paper with pages out of order In all sections of your paper Use normal prose including articles ("a", "the," etc.) Stay focused on the research topic of the paper Use paragraphs to separate each important point (except for the abstract) Indent the first line of each paragraph Present your points in logical order Use present tense to report well accepted facts - for example, 'the grass is green' Use past tense to describe specific results - for example, 'When weed killer was applied, the grass was brown' Avoid informal wording, don't address

Managerial accounting Essay Example | Topics and Well Written Essays - 1000 words - 1

Managerial accounting - Essay Example This concept states that stock is valued at lower of NRV or cost. Since NRV is not given in this case, we will include the purchase price or the cost of stock which is 750 in this case. The cost of skilled employees: The cost of skilled employees is the direct cost of the order. As a result, there wages can easily be allocated to this order because we know that they have worked on this particular order during the week we can easily apportion this to the order and since it is the job of accountants to allocate all the recognizable costs to the appropriate cost centers, this order is the cost center and the cost activity of the workers is rightly apportioned to this order. The extra cash lost: Accountants are only concerned with the explicit costs and they are least concerned with the implicit cost. Implicit costs are the opportunity cost like this one. These are not the real costs but are based on economic assumption of the next best alternative. Similarly, since these costs are based on assumptions, we cannot tell the accurate amount of these costs. However, economists do use these costs when calculating normal profit of a project or of an item. But, since cost statement is done by accountants and not the economists, we will ignore these costs in the job order cost statement. We are only going to include those costs that have factual evidence as the concept of "materiality" states. As a result, when preparing the job order cost statement, I have not included the implicit amount as it is of little value to the accountants. Machinery depreciation: Machinery depreciation is a fixed cost. It means that irrespective of the operations performed by the machinery, a depreciation charge will be levied. Such costs do not vary with the output or the operations performed and hence we call them the fixed costs. In this case, since we have made a separate adjustment of the fixed overheads, it will lead to double addition if we add this cost separately. In other words, the depreciation charge is already included in the fixed overheads and it will lead to distortion of the cost statement if we include a separate head for machinery depreciation. In more professional terms, these will windows dress the financial statement and hence will give a different picture to the cost statement than it is in reality. For the reasons given above, I have excluded the amount for machinery depreciation from the cost statement. Electricity: The statement in the question tells us whether the order is received or not, the machinery will be in continuous use. Since all machinery is run on electricity, we can assume that the charge of electricity is also fixed. The entire costs related to machine are fixed as it is indifferent to the order and hence these costs will also be included in the fixed overheads. Hence by adding them separately, we will again be making a mistake of double debiting our cost statement. This again will distort the cost of the order in reality and will make us assume that we are incurring more costs than we really are. This is called as window dressing and should be avoided from both the ethical and legal point of view. Hence, this amount is excluded from the job order cost statement. Fixed overheads: Certain indirect costs are incurred when a company is working on a

Reflection paper Research Example | Topics and Well Written Essays - 500 words

Reflection - Research Paper Example The tutor and fellow colleagues have made my studies and stay at college very enjoyable. For instance, the group discussions and regular brainstorming sessions made studies practical and played an important role in developing my thinking skills. Pursuing this course has been the greatest achievement in my life. In fact, since the start of the course, things have been developing gradually to the positive side. Studying this course has changed my point of view to life in many ways. For Instance, by attending group discussions and engaging in brainstorming sessions, I developed effective socializing skills. Working in groups gave an idea about the importance of teamwork in executing assigned task. In addition, it assisted me develop the courage to face people and present my opinions without fear. Consequently, I have learned social networking skills that can be applied in daily life situations. The knowledge gained throughout the course has made me develop a positive attitude towards life. Learning challenges such as meeting deadlines for assignments and having a bulk of topics to work on taught me to be active always. Additionally, I now understand the importance of information technology to people and businesses. Essentially, I can give direction to an individual or an organization on the best information technology strategy to employ in the management of daily operations. My level of knowledge for the topics taught in the course is above average. Presently, I can handle many problems related to computer science and information technology. Actually, I can advise an organization or a company on a number of issues relating effective information technology mechanisms. Apparently, I can afford to fix some technical problems that affect communication devices such as computers and smartphones. In essence, my level of knowledge regarding technology has been elevated, thereby laying the foundation for further studies. The mode of study for the entire period

Horse Slaughter Essay Example for Free

Horse Slaughter Essay The topic of horse slaughter doesn’t usually come up very often in everyday conversation. Horse slaughter is more of an implicit subject, which your everyday person doesn’t know much about. Because it is highly controversial, it has gone through the cycle of being banded and then reinstated twice in the last 5 years. With being involved in the horse industry my entire life, I have witnessed the effects first hand. Some people see it as killing pets, animal cruelty, and morally wrong. However, I see it as a source of income, a way to stop the starvation and abuse of horses, an export industry for the United States, as well as a quality meal for in times of despair. The history of people eating horse meat dates back to the early 1800’s when the French were at war with Russia. Emperor Napoleon advised his starving soldiers to eat the dead battlefield horses. Because horse meat is sweet, lean, protein-rich, and finely textured, it sufficed as a quality meal. Due to the high cost of living in France, in 1866, the French government legalized the consumption of horse meat because it could be bought at a lower price than pork or beef. (Sherman) Countries like France, Belgium, Germany, Chili, Japan and many others still consume horse meat today. The history of horse meat for human consumption in the United States has a similar story. â€Å"No longer will the will the worn-out horse wend his way to the boneyard; instead he will be fattened up in order to give the thrifty another source of food supply. This new meat is to be put upon the city’s platter under the protection and encouragement of the Board of Health. The Board at its meeting yesterday made several radical changes in the Sanitary Code, and one of them was to revoke the present section that forbids the sale in this city of horse flesh as food. † (Allow Horse Meat for Food in City) This is a segment from an article by the New York Times, published in 1915. Also in the article, Health Commissioner Haven Emerson discussed that the houses that slaughter horses are to follow the same protocol and inspections as any other slaughter house does. During the 1930’s low supply and high cost of pork and beef made horse meat rise in popularity. Again during World War II, people were again in the same predicament. Inflation during the early 1970’s raised the cost of traditional meats; Time Magazine reported from Carlson’s, a butcher shop in Westbrook, CT, that they were selling over 6,000 pounds of horse meat a day. (Weil) In 2006, the House of Representatives voted to end horse slaughter; the bill passed to make the killing and selling American horses for human consumption an illegal practice in the United States. Today in the US, people do not consume horse meat on a whole sale basis. But because many other counties do, the exporting of horse meat is a huge industry. When the ban was in place, US horses were being transported to Canada and Mexico to be slaughtered instead. From 2006 to 2010 the increase in horses being exported to Canada and Mexico was 148 and 660 percent. They are loaded up on trailers and shipped across the boarders, often times going days without food or water until they reach their destination. The regulations, or lack thereof, are different than in the US. Shesgreen) Valley Meat Co. owner Rick De Los Santos brings up valid points in his interview with NBC News last week. The majority of people, who are against slaughter, are getting caught up on the â€Å"ick† factor of killing our â€Å"pets†. However, the process is the exact same for cows and pigs. The horse is struck in the forehead with a tool known as a captive gun. The captive gun an air pressured gun which launches a metal bolt against the horses head rendering it unconscious before it is exsanguinated, â€Å"bled out. Meat plants are inspected regularly, expected to follow code, and are fined heavily if found otherwise. He also makes mention that he is sending horse carcasses to Mexico instead of live horses. If the horses are killed in the US they are still under regulation. (NM Meat Plant Owner Defends Horse Slaughter Plan) I often hear the statement â€Å"Dead horses don’t help the economy! † But before it was banned; the export industry in the US was nearly $65 million dollars a year. That is $65 million dollars that could be coming into the US, but isn’t. Shesgreen) Mr. De Los Santos mentioned in his interview that due to the closing of his plant, he laid off over 160 workers at his small scale plant. With our economy in its current state, I believe we should not be cutting corners with people losing jobs or missing out on opportunities to make money. On the contrary, â€Å"Horses were never raised or bread specifically as a source of food because they have a much lower grain and grass efficiency rate then cows do. They take a lot more food and time to fatten up. Their immune systems are also not as strong s cows and they have the tendency to get sick easier; which can cause weight loss,† explained veterinarian Kathy Ott, owner and senior vet of Clearly Lake Equine Hospital. I did an interview with Dr. Ott knowing that I would receive a perspective of the opposing argument. She referenced that because horses are not specifically raised to be consumed; the vaccines, medications, injections and feed that they receive have not all been certified or regulated by the FDA. (Ott) Humane Society says; owner responsibility is the answer. It is a matter of personal responsibility when someone takes on a horse as a companion or work animal. If an owner can no longer care for a horse, that person has a responsibility to seek out other options for placing the horse or to have it humanely euthanized, rather than simply try to profit by selling it to slaughter. This is a valid point; however, in the state and federal legislation passed thus far in the US, the right to kill horses humanely has never been challenged, with the exception of those falling under the Bureau of Land Management (BLM), National Wild Horse and Burro Adoption Program. In the USA, horses remain property and anyone can â€Å"humanely† kill his or her own horse without fear of sanction including euthanasia or gunshot. How are do we know everyone one out there kills there horse on the first try? They could have possibly miss the vein or miss the shot. PETA is not against horse slaughter! PETA is disgusted by the idea of transporting of horses to foreign destinations, which increases their stress, probability of sickness and injury. They believe that the previous congressional action that ended the slaughter of horses in the U. S. was terribly inadequate solution, and had only made matters worse for the problem of unwanted and abandoned horses. The organization is a major advocate of local euthanasia or gunshot. They are constantly looking to find a better solution to unwanted and abandoned horse problem. Slaughtering is at the bottom of their list; however, right now it is necessary to prevent more suffering and starvation of the unwanted horse. (PETA) On November 11th, 2012, President Obama signed the ban to abolish the ban on horse slaughter. Horse meat, for the past 100 years, has had an influential effect on America. It has helped us in times of need, as well has been a huge amount of income for the US. With it still being so controversial on an ethical basis, I am sure it will continue to go through the cycle of being banned and reopened.

Role of Monetary Policy in Financial Crisis

Role of Monetary Policy in Financial Crisis 1. Introduction To begin with, it is noted that over the last year or so, financial institutions in the major economies have reported losses on a large scale. Some of these have become insolvent, or have had to be taken over or rescued by their governments. The 2008 Global Financial Crisis Credit Crisis has affected millions of Americans specifically and others around the World in general terms. Associated with all of that has been a massive swing in the appetite of the World financial markets for risk, and in their capacity to accept risk. Thus, the result has been a shift from an easily available credit to tight credit. This crisis which began in industrialized countries has shifted dramatically spread to emerging market and developing economies. Many wealthy investors or so have pulled their capital from countries, even those with small levels of perceived risk, and hence causing values of stocks and domestic currencies to plunge. Moreover, the crisis has now moved from containing the contagion to coping with the global recession and changing regulations to prevent a reoccurrence of such a problem. Some security and foreign policy effects of the crisis also are beginning to appear. In addition, policy proposals to change specific regulations as well as the structure of regulation and supervision at both domestically and internationally levels have been coming forth through the legislative process. As one can bear in mind, In June 2009, the Obamas administration announced its plan for regulatory reform of the U.S. financial system. For example, in Congress, numerous bills have been introduced that deal with issues such as establishing a commission or selecting a committee to investigate causes of the financial crisis, provide oversight and greater accountability of the Federal Reserve and Treasury lending activity, acting towards the problems in the housing and mortgage markets, provide funding for the International Monetary Fund, address problems with consumer credit cards and establish a systemic risk monitor. Therefore, the transmission of the crisis from the U.S. and Europe to the rest of the world came through a number of channels. The financial institutions in most emerging market economies had not been involved in practices that are seen in the institutions that populate the financial centers in the major industrial countries. To that extent, financial institutions in the emerging economies either shied away from the more exotic instruments, including such things as credit default swaps and collateralized debt obligations, or were prevented by regulation from holding or trading such instruments. Banking had to come of the most à ¢Ã¢â€š ¬Ã…“boringà ¢Ã¢â€š ¬?, old fashioned ever! (The New York Times has reported on last September 2009 about the moves to replace the bust securitized mortgage market with a similar scheme dealing in life insurance policies, products that are as distasteful as they are foolhardy). The question is, can anything be done to ensure more responsible financial practice? If we are suppose to talk about the US economy, we would notice that President Barak Obama marked the anniversary of Lehman collapse with a plea to bankers to not get complacent, telling them to get their house in order, or else face further regulation. We can indicate that over the past year, the financial male storm has battered the global information and communication technology industry, affecting profits and pushing down the industry in a manner reminiscent of the 2001 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 2002 dotcom busts. It is gradually finding its feet again, but it isnt out of the woods yet. The global financial tumult has forced a number of companies to reanalyze their cost benefit analysis, ensure efficiency and improve productivity. Companies in sectors such as telecom and finance have already realized the need of IT outsourcing as a solution in the changed market dynamics. Therefore, this research paper provides a review of how the financial crisis has affected many regions of the world, proposals for a regulatory change, indication about the role of Monetary Policy the level of Political Economics that have been intervening in the Financial Crisis. It also identifies some basic challenges facing the globe suggests possible solutions for the Banking Field to overcome the crisis. 2. Literature Review The financial crisis was triggered by the bursting of a credit-fuelled bubble. Regulation and regulators did not cause this fatal bubble, but they did indirectly help it to grow by fostering the illusion of financial security. Many developing country economies are yet growing strongly, though the forecasts have been downgraded in the space of few a few months. What does the turmoil mean for such developing countries? And for how much longer can growth persist? What are the channels through which the crisis could spread to and how are the effects being felt and in what cases? What is the role for development policy and what do policy-makers need to know? Brooke Masters (2009) claimed: So far, most countries are avoiding a regulatory race to the bottom à ¢Ã¢â€š ¬Ã¢â‚¬Å" if anything, they are going the other way. The UK, for example, is pressing ahead with its own liquidity rules, while the Netherlands has pushed through curbs on bankers bonuses. Even Singapore, which has long been favored by financiers for its à ¢Ã¢â€š ¬Ã…“light-touchà ¢Ã¢â€š ¬? regulatory regime, considering tightening up its rules. However, Joshua Aizenman (2009) indicated that costly regulation can mitigate the probability of the crisis. We identify conditions where the regulation level supported by the majority is positive after the reform, but below the socially optimal level. A big portion of the financial crisis has had to do with under regulation and regulator duplicity with malefactors. If we look at the banking rules, we shall discover that allowing investment and commercial banks to merge, without a specification of a tighter capital rules, and hence, these new mega banks became overleveraged without examining their loans or the instruments that derived from the bad loans these banks made in the first place. In his writings about Liberalism Ludwig von Mises (1927) indicated that government intervention in markets would lead inevitably to unintended consequences that resulted in further government intervention. It is difficult to correct a problem when the cause of the problem is misunderstood. The presidential and vice-presidential candidates in the United States have all said that à ¢Ã¢â€š ¬Ã…“Wall Street greedà ¢Ã¢â€š ¬? has led to the financial mess we are in. On the very face of it, this does not seem likely. Even if greed leads to problems, is it possible that greed has suddenly become much greater than before? To raise an interest rate at some a time is a mistake and is likely to make a bad situation even worse. In many respects, central banks, including the Federal Reserve, have drawn heavily on important threads of monetary policy research in responding to the financial crisis. Lang Wang (2005) had explained with a binding capital requirement, the effects on bank lending supply depend on the size, the capital level, the balance sheet liquidity of banks and the capital distribution and market structure in the banking sector. In a similar context, Thorbecke (1997) finds that expansive monetary policy tends to increase ex-post stock returns. He reported that small firms tend to be affected more severely by the change in monetary policy stance. In addition, Paul Krugman (1999) indicated But when a financial disaster struck Asia, the policies those countries followed in response were almost exactly the reverse of what the United States does in the fact of a slump. Currently the traditional monetary policy of the Federal Reserve is to focus on targeting the federal funds rate, now that this rate has approached the zero-bound; it has shifted to focus on other ways to lower the cost of credit in the marketplace. Federal Reserve programs have intended to offset disruptions to interbank lending short-term credit financing. Since the credit crunch is caused by conservative lending policies during periods of financial duress and reduced profitability, one may finds that monetary policy is somehow ineffective in alleviating the credit crunch. Instead loan regulation can erase it. George Macesich (1992) argued that the poor performance of monetary policy can be attributed historically to the ease with which money has so often been made a political issue. He stated that For Monetary Policy to be credible, and thus successful, the hands of the Monetary Policy- makers are better tied than left free. Sun Ruijun and Bao Erwen (2008) have reported The in-depth development of economic globalization has made economic ties and interdependence between countries even closer, boosting the sustained growth of world economy, and benefiting many countries. The global financial crisis is more than just an economic event: It puts pressure on the geopolitical system and is driving states to change their behavior. Taking a snap shot on the GCC states, one can clearly define how largely it has been insulated from the global credit crunch because they are the proud owners of some of the worlds largest oil deposits. Much of this has been caused by massive infrastructure and development projects such as Qatars liquefied natural gas facilities, Dubais fanciful real estate explosion and Bahrains attempts to convert itself into a financial Mecca. The economic system has an effect on the political outcomes. Well-functioning financial institutions, in turn, can increase the political support for anti-corruption measures. Kira Boerner Christa Hainz (2006) argued When banks possess a perfect screening technology that allows them to deny credit to those debtors who use the money for financing an entry fee, the corrupt officials will still borrow from their relatives. However, compared to the case without financial institutions, the interest of corrupt officials and relatives in corruption decreases: Both parties have the opportunity to save at a bank. In similar terms, Torsten Persson (2000) had explained Economic policy is the equilibrium outcome of a well defined no cooperative game under preemptive assumptions about economic political behavior. At all levels, the present financial crisis requires a co-ordinate response on a global scale. The real risk to the world economy is the temptation to revert to protectionism by each individual country in order to solve their own domestic problems. 3. Research Methodology In choosing the correct research method to be used in this research paper, the survey research method by Questionnaires will be the basic research design. Each respondent will be supplied with a questionnaire titled How banks can overcome the Global Financial Crisis? The questionnaire is estimated to take no longer than 6 minutes for each reached individual regardless of the age. A survey of 68 individuals located in many counties throughout the country will provide the database for this study. The sample was selected on a probability basis from as much decision maker playing role individuals as possible in Bahrain. The questionnaire took place in Bahrain the response from the respondents took almost one week. Questionnaires were distributed randomly depending on many aspects such as: age, gender, employment condition most important of all, the level of knowledge regarding the topic under study. This research paper sampling volume totaled 68, out of which, males represented 38 and the rest 30 were for females. The original sample was 70, in which the researchers found that 2 individuals were students below the age of 18 and were unemployed. That made a quiet confusing decision to remove the two from the total sample, since at that age and being unemployed is not a truly decision maker respondent. 4. Challenges As the world look beyond the economic crisis, what are the most urgent challenges that are needed to be addressed? Gaining a proper perspective on the crisis itself is a first challenge. In recent decades, it has been demonstrated that a market which operates responsibly offers a more secure life and a best hope to people who seek a better standards of living wherever in the world they may live. This is absolutely fundamental. While it is true that the direct causes of the crisis the combustible mixture of excess leverage in both consumer and financial markets, the bank failures, the credit collapse have led to some painful consequences, it would be folly to conclude that the foundations of market economics have been irreparably damaged. A second challenge facing the Global is how to deal intelligently with the huge fiscal challenges ahead. The response of central banks and governments to the economic crisis may very well have averted a global catastrophe. However, massive fiscal obligations have been assumed by governments and this might take many years to unwind. What is needed is for countries to create and develop smart à ¢Ã¢â€š ¬Ã…“exità ¢Ã¢â€š ¬? strategies. Furthermore, as the private sector returns to some growth, this requires a determined pullback in government expenditure. Not an easy task: as we all know, the politics of unwinding government programs can be daunting. Here political courage and good public policy go hand in hand. The third challenge needs an urgent attention. It is acknowledged that the global economy is out of balance and that this is one of the reasons for the financial crisis. Massive reliance on external demand carries with it real consequences as does the excessive reliance on foreign investors to finance consumption and deficits for long periods of time. As one could realize, such imbalances can cause serious and long-lasting economic damage. There is also the challenge, or opportunity, of what to do with a countrys immense foreign exchange reserves. A Chinese think tank has come up with an exciting idea: that the reserves could be put to good use through the development of a Marshall Plan for Africa, Asia and Latin America. Such a development fund, or loan facility, would increase living standards in the targeted countries. The fifth challenge is enormously complex challenge that deserves attention. Sometimes we feel that we have loaded so many expectations onto the climate change agenda that it cannot help but fail. You would think that tackling this issue will give us infinite new sources of cleaner energy, and allow for the transfer of substantial amounts of financial and technological support to emerging economies. On the global side, No existing architecture is found to be proficient in preventing global crises from erupting. Since financial crises occur even in relatively tightly regulated economies, the likelihood that a supranational influence could prevent an international crisis from occurring is questionable. The financial crisis has been characterized as a à ¢Ã¢â€š ¬Ã…“wake-up callà ¢Ã¢â€š ¬? for investors who had put their faith confidence in. For example, credit ratings placed on securities by credit rating agencies operating under what some have referred to as à ¢Ã¢â€š ¬Ã…“wicked incentives and conflicts of interest.à ¢Ã¢â€š ¬? Moving forward to a sixth challenge, the Council on Foreign Relations explained the problem in a report on systemic regulation, as follows: One regulatory organization in each country should be responsible for overseeing the health and stability of the overall financial system. The role of the systemic regulator should include gathering, analyzing, and reporting information about significant interactions between and risks among financial institutions; designing and implementing systemically sensitive regulations, including capital requirements; and coordinating with the fiscal authorities and other government agencies in managing systemic crises. We argue that the central bank should be charged with this important new responsibility. Centers of financial activity such as New York, London, and Tokyo, race with each other and multinational firms can determine where to carry out particular financial transactions. This is to be addresses as one of the considerations in policy making. A seventh challenge is that a large financial institution that may be defined as large to fail represents the heavy arm that the world economy depends greatly on. If an institution is considered to be à ¢Ã¢â€š ¬Ã…“unsuccessful too big to fail,à ¢Ã¢â€š ¬? its bankruptcy would cause a major risk collapse to the system as a whole. Yet, if there is an implicit promise of governmental support in case of failure, the government may create a moral hazard, which is the motivation for an entity to be engaged in somewhat risky behavior, knowing that the government will rescue it if it fails. A further challenge is that the nature and size of accumulating financial and systemic risks have not been well identified by the existing micro regulation. It even didnt impose appropriate remedial actions. Even though some analysts and institutions were sounding alarms before the crisis erupted, there were hardly any regulatory tools available to handle with the increase of risk in the system as a whole or the risks being forced by other firms either in the same or different sectors. It seemed to be an insufficient response to some of these risks either by the authorities responsible for the mistake of individual financial institutions or specific market segments. A last fundamental challenge deals with the nature of regulation and supervision. Banking regulation tends to be specific and detailed and places requirements and limits on bank behavior. Federal securities regulation, however, is based primarily on disclosure. Registration with the Securities and Exchange Commission is required, but that registration does not imply that an investment is safe or secured, only that the risks have been fully disclosed! 5. Analysis Discussion When the U.S financial System falls down, it may bring major parts of the rest of the world down with it. The global financial crisis has opened the World eye on an important point: that the United States is still a major center of the financial world. Hence, Regional financial crises (such as the Asian financial crisis, Japans banking crisis or even the current Dubais Credit Crisis) can occur without seriously infecting the rest of the global financial system as does the United States economy. The reason behind, is that the United States is the main guarantor of the international financial system, the provider of dollars widely used as currency reserves and as an international intermediate for exchange, besides being a contributor to much of the financial capital that around the world seeking higher yields. The rest of the world may not appreciate it, but a financial crisis in the United States often takes on a global hue. To analyze the questionnaire, the researchers have used the SPSS program and the regression analysis in order to define some relationships that best help identify the problem under study. The descriptive statistical analyses questionnaire will be used, including calculations of sampling error, and statistical adjustments for unequal selection probabilities. Cross-classification analyses with demo-graphic, ANOVA, linear regression and T-Test is much more applied in order to explain some judgments. Since the researchers think that the gender is one of the independent variables that could test many hypothesis, three hypothesis were applied based on the dependant variable: First Hypothesis: There is no relationship between gender and understanding what is going on in the current financial news. Second Hypothesis: There is no relationship between gender and being informed about the à ¢Ã¢â€š ¬Ã…“Global Financial Crisisà ¢Ã¢â€š ¬?. Third Hypothesis: There is no relationship between gender and the decision that thinks of governments around the world should take in the financial sector towards their economies. The table below, represents the Statistical Data Analysis of the designed questionnaire: Table 1: SPSS Statistics for all questionnaire questions One-Sample Test    Question No.    Test Value = 0 Test Value = 0 N t df Sig. (2-tailed) Mean Difference 95% Confidence Interval of the Difference t df Sig. (2-tailed) Mean Difference 95% Confidence Interval of the Difference    Lower Upper Lower Upper Question_1 68 23.758 67 0 1.441 1.32 1.56 23.758 67 0 1.441 1.32 1.56 Question_2 68 17.636 67 0 4.206 3.73 4.68 17.636 67 0 4.206 3.73 4.68 Question_3 68 21.715 67 0 1.706 1.55 1.86 21.715 67 0 1.706 1.55 1.86 Question_4 68 22.401 67 0 3.868 3.52 4.21 22.401 67 0 3.868 3.52 4.21 Question_5 68 13.683 67 0 2.074 1.77 2.38 13.683 67 0 2.074 1.77 2.38 Question_6 68 8.596 67 0 2.029 1.56 2.5 8.596 67 0 2.029 1.56 2.5 Question_7 68 10.618 67 0 3.5 2.84 4.16 10.618 67 0 3.5 2.84 4.16 Question_8 68 17.868 67 0 2.191 1.95 2.44 17.868 67 0 2.191 1.95 2.44 Question_9 68 23.953 67 0 2.676 2.45 2.9 23.953 67 0 2.676 2.45 2.9 Question_10 68 15.557 67 0 5.059 4.41 5.71 15.557 67 0 5.059 4.41 5.71 Question_11_1 68 14.691 67 0 3.529 3.05 4.01 14.691 67 0 3.529 3.05 4.01 Question_11_2 68 18.302 67 0 4.809 4.28 5.33 18.302 67 0 4.809 4.28 5.33 Question_11_3 68 21.056 67 0 5.029 4.55 5.51 21.056 67 0 5.029 4.55 5.51 Question_11_4 68 17.835 67 0 4.426 3.93 4.92 17.835 67 0 4.426 3.93 4.92 Question_11_5 68 20.978 67 0 4.897 4.43 5.36 20.978 67 0 4.897 4.43 5.36 Question_12 68 16.241 67 0 2.735 2.4 3.07 16.241 67 0 2.735 2.4 3.07 Question_13 68 14.707 67 0 2.676 2.31 3.04 14.707 67 0 2.676 2.31 3.04 Question_14 68 26.329 67 0 2.765 2.56 2.97 26.329 67 0 2.765 2.56 2.97 Anova Model Sum of Squares df Mean Square F Sig. 1 Regression 4.074 1 4.074 4.173 .045a Residual 64.440 66 .976       Total 68.515 67          a. Predictors: (Constant), Question_1          b. Dependent Variable: Question_8          Coefficientsa Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta 1 (Constant) 1.481 .368    4.025 .000 Question_1 .493 .241 .244 2.043 .045 a. Dependent Variable: Question_8          Table 2: Anova statistics coefficients relationship Q1 Q8 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Hypothesis. From the Questionnaire, we have selected the relationship among the following questions. However, Gender will always be constant. Question (1): Please indicate your gender: Male Female Question (8): In general, how knowledgeable do you consider yourself to be when it comes to understanding what is going on in the current financial news? I know enough to be able to explain whats happening in the financial industry to other people. I understand enough to make sense of the detail behind the financial news stories. I just follow the headlines but my understanding of financial news is fairly vague. I dont really understand whats going on in the financial news. Question_8: On the One-Sample Test it is showed that the Significance is = 0.00 which is less than 0.05, so we reject any initial premise that the average Question_8 is not equal to 0. Since the answer to this question fell where the value of t = 17.868, positive, meaning that people have a significant understanding and knowledge about the current financial news. About 35.3 % of the answers to question 8 went in to that both, males females find themselves having enough understanding to make sense of the detail behind the financial news stories. On lower confidence levels, 29.4% find themselves confident enough to answer bitterly regarding the financial crisis. Question (9): How informed are you about the à ¢Ã¢â€š ¬Ã…“Global Financial Crisisà ¢Ã¢â€š ¬? that is said to be impacting the U.S. economy the rest of the Globe? Very informedà ¢Ã¢â€š ¬Ã¢â‚¬ I have actively sought additional information on this story. Somewhat informedà ¢Ã¢â€š ¬Ã¢â‚¬ I know a bit about it, but wouldnt be able to hold my own in a conversation about it. Informedà ¢Ã¢â€š ¬Ã¢â‚¬ Ive read/seen stories about it when Ive come across them in the news. Not informed at allà ¢Ã¢â€š ¬Ã¢â‚¬ I dont know anything about this story. Question_9: The mean for this particular sample is 2.68, which is statistically significantly different from the test value of Zero.  34 out of 68 sample volume representing almost 50% who have been really informed to have read/seen stories about the global financial crisis when coming across it in the news. The researchers find that the relationship between gender and being informed about the à ¢Ã¢â€š ¬Ã…“Global Financial Crisisà ¢Ã¢â€š ¬? is positive with (.493) and based on the t-value of (2.043) and p-value of (0.045), this relationship is statistically significant.   Hence, there is a statistically significant positive linear relationship between people gender being informed and know ledged enough about the crisis. Question (13): What role, if any, do you think that governments around the world should take in the financial sector towards their economies? Hands onà ¢Ã¢â€š ¬Ã¢â‚¬ the government should intervene whenever the financial sector is at risk. Intermediaryà ¢Ã¢â€š ¬Ã¢â‚¬ the government should act as an intermediary between concerned parties. Laissez Faireà ¢Ã¢â€š ¬Ã¢â‚¬ the government should not interfere with economic affairs beyond the minimum. Completely hands offà ¢Ã¢â€š ¬Ã¢â‚¬ the government should let Wall Street solve its problems on its own. Case by caseà ¢Ã¢â€š ¬Ã¢â‚¬ the government should take a case-by-case approach. ANOVAb Model Sum of Squares df Mean Square F Sig. 1 Regression 14.714 1 14.714 7.132 .010a Residual 136.168 66 2.063       Total 150.882 67          a. Predictors: (Constant), Question_1          b. Dependent Variable: Question_13          Coefficientsa Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta 1 (Constant) 1.326 .535    2.480 .016 Question_1 .937 .351 .312 2.671 .010 a. Dependent Variable: Question_13          Table 3: Anova statistics coefficients relationship Q1 Q13 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Hypothesis. The relationship between gender and the choice to think of the role that governments around the world should take in the financial sector towards their economies is positive (.937). Based on the t-value (2.671) and p-value (0.010), it is to be clarified that this relationship is statistically significant.   Hence, there is a statistically significant positive linear relationship. Most of the questionnaires answer to question 13 went to choose that the role of government can be best suggested as to: Hands onà ¢Ã¢â€š ¬Ã¢â‚¬ the government should intervene whenever the financial sector is at risk. Question (4) Which of the following best describes the highest level of education you have attained? Some high school High school graduate Some college College graduate Some post graduate studies Post graduate degree Question (13): What role, if any, do you think that governments around the world should take in the financial sector towards their economies? 1 Hands onà ¢Ã¢â€š ¬Ã¢â‚¬ The government should intervene whenever the financial sector is at risk.    3 1 7 1 8 2 Intermediaryà ¢Ã¢â€š ¬Ã¢â‚¬ The government should act as an intermediary between concerned parties.    2 7 3 1 2 3 Laissez Faireà ¢Ã¢â€š ¬Ã¢â‚¬ The government should not interfere with economic affairs beyond the minimum.    3 7 4 -   1 4 Completely hands offà ¢Ã¢â€š ¬Ã¢â‚¬ The government should let Wall Street solve its problems on its own.    1    2    -   5 Case by caseà ¢Ã¢â€š ¬Ã¢â‚¬ The government should take a case-by-case approach. 1 2 3 4    5 Table 4: Cross Checking Analysis between Q4 Q13. To provide a better understanding of a cross classification, the table below indicates that, most of people holding a college degree, agreed with the choice that governments should intervene whenever the financial sector is at risk and in need for its support. Therefore, we see that the Global Financial Crisis can be broken down into major phases. Although each phase has a policy focus, it seemed that until t Role of Monetary Policy in Financial Crisis Role of Monetary Policy in Financial Crisis 1. Introduction To begin with, it is noted that over the last year or so, financial institutions in the major economies have reported losses on a large scale. Some of these have become insolvent, or have had to be taken over or rescued by their governments. The 2008 Global Financial Crisis Credit Crisis has affected millions of Americans specifically and others around the World in general terms. Associated with all of that has been a massive swing in the appetite of the World financial markets for risk, and in their capacity to accept risk. Thus, the result has been a shift from an easily available credit to tight credit. This crisis which began in industrialized countries has shifted dramatically spread to emerging market and developing economies. Many wealthy investors or so have pulled their capital from countries, even those with small levels of perceived risk, and hence causing values of stocks and domestic currencies to plunge. Moreover, the crisis has now moved from containing the contagion to coping with the global recession and changing regulations to prevent a reoccurrence of such a problem. Some security and foreign policy effects of the crisis also are beginning to appear. In addition, policy proposals to change specific regulations as well as the structure of regulation and supervision at both domestically and internationally levels have been coming forth through the legislative process. As one can bear in mind, In June 2009, the Obamas administration announced its plan for regulatory reform of the U.S. financial system. For example, in Congress, numerous bills have been introduced that deal with issues such as establishing a commission or selecting a committee to investigate causes of the financial crisis, provide oversight and greater accountability of the Federal Reserve and Treasury lending activity, acting towards the problems in the housing and mortgage markets, provide funding for the International Monetary Fund, address problems with consumer credit cards and establish a systemic risk monitor. Therefore, the transmission of the crisis from the U.S. and Europe to the rest of the world came through a number of channels. The financial institutions in most emerging market economies had not been involved in practices that are seen in the institutions that populate the financial centers in the major industrial countries. To that extent, financial institutions in the emerging economies either shied away from the more exotic instruments, including such things as credit default swaps and collateralized debt obligations, or were prevented by regulation from holding or trading such instruments. Banking had to come of the most à ¢Ã¢â€š ¬Ã…“boringà ¢Ã¢â€š ¬?, old fashioned ever! (The New York Times has reported on last September 2009 about the moves to replace the bust securitized mortgage market with a similar scheme dealing in life insurance policies, products that are as distasteful as they are foolhardy). The question is, can anything be done to ensure more responsible financial practice? If we are suppose to talk about the US economy, we would notice that President Barak Obama marked the anniversary of Lehman collapse with a plea to bankers to not get complacent, telling them to get their house in order, or else face further regulation. We can indicate that over the past year, the financial male storm has battered the global information and communication technology industry, affecting profits and pushing down the industry in a manner reminiscent of the 2001 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 2002 dotcom busts. It is gradually finding its feet again, but it isnt out of the woods yet. The global financial tumult has forced a number of companies to reanalyze their cost benefit analysis, ensure efficiency and improve productivity. Companies in sectors such as telecom and finance have already realized the need of IT outsourcing as a solution in the changed market dynamics. Therefore, this research paper provides a review of how the financial crisis has affected many regions of the world, proposals for a regulatory change, indication about the role of Monetary Policy the level of Political Economics that have been intervening in the Financial Crisis. It also identifies some basic challenges facing the globe suggests possible solutions for the Banking Field to overcome the crisis. 2. Literature Review The financial crisis was triggered by the bursting of a credit-fuelled bubble. Regulation and regulators did not cause this fatal bubble, but they did indirectly help it to grow by fostering the illusion of financial security. Many developing country economies are yet growing strongly, though the forecasts have been downgraded in the space of few a few months. What does the turmoil mean for such developing countries? And for how much longer can growth persist? What are the channels through which the crisis could spread to and how are the effects being felt and in what cases? What is the role for development policy and what do policy-makers need to know? Brooke Masters (2009) claimed: So far, most countries are avoiding a regulatory race to the bottom à ¢Ã¢â€š ¬Ã¢â‚¬Å" if anything, they are going the other way. The UK, for example, is pressing ahead with its own liquidity rules, while the Netherlands has pushed through curbs on bankers bonuses. Even Singapore, which has long been favored by financiers for its à ¢Ã¢â€š ¬Ã…“light-touchà ¢Ã¢â€š ¬? regulatory regime, considering tightening up its rules. However, Joshua Aizenman (2009) indicated that costly regulation can mitigate the probability of the crisis. We identify conditions where the regulation level supported by the majority is positive after the reform, but below the socially optimal level. A big portion of the financial crisis has had to do with under regulation and regulator duplicity with malefactors. If we look at the banking rules, we shall discover that allowing investment and commercial banks to merge, without a specification of a tighter capital rules, and hence, these new mega banks became overleveraged without examining their loans or the instruments that derived from the bad loans these banks made in the first place. In his writings about Liberalism Ludwig von Mises (1927) indicated that government intervention in markets would lead inevitably to unintended consequences that resulted in further government intervention. It is difficult to correct a problem when the cause of the problem is misunderstood. The presidential and vice-presidential candidates in the United States have all said that à ¢Ã¢â€š ¬Ã…“Wall Street greedà ¢Ã¢â€š ¬? has led to the financial mess we are in. On the very face of it, this does not seem likely. Even if greed leads to problems, is it possible that greed has suddenly become much greater than before? To raise an interest rate at some a time is a mistake and is likely to make a bad situation even worse. In many respects, central banks, including the Federal Reserve, have drawn heavily on important threads of monetary policy research in responding to the financial crisis. Lang Wang (2005) had explained with a binding capital requirement, the effects on bank lending supply depend on the size, the capital level, the balance sheet liquidity of banks and the capital distribution and market structure in the banking sector. In a similar context, Thorbecke (1997) finds that expansive monetary policy tends to increase ex-post stock returns. He reported that small firms tend to be affected more severely by the change in monetary policy stance. In addition, Paul Krugman (1999) indicated But when a financial disaster struck Asia, the policies those countries followed in response were almost exactly the reverse of what the United States does in the fact of a slump. Currently the traditional monetary policy of the Federal Reserve is to focus on targeting the federal funds rate, now that this rate has approached the zero-bound; it has shifted to focus on other ways to lower the cost of credit in the marketplace. Federal Reserve programs have intended to offset disruptions to interbank lending short-term credit financing. Since the credit crunch is caused by conservative lending policies during periods of financial duress and reduced profitability, one may finds that monetary policy is somehow ineffective in alleviating the credit crunch. Instead loan regulation can erase it. George Macesich (1992) argued that the poor performance of monetary policy can be attributed historically to the ease with which money has so often been made a political issue. He stated that For Monetary Policy to be credible, and thus successful, the hands of the Monetary Policy- makers are better tied than left free. Sun Ruijun and Bao Erwen (2008) have reported The in-depth development of economic globalization has made economic ties and interdependence between countries even closer, boosting the sustained growth of world economy, and benefiting many countries. The global financial crisis is more than just an economic event: It puts pressure on the geopolitical system and is driving states to change their behavior. Taking a snap shot on the GCC states, one can clearly define how largely it has been insulated from the global credit crunch because they are the proud owners of some of the worlds largest oil deposits. Much of this has been caused by massive infrastructure and development projects such as Qatars liquefied natural gas facilities, Dubais fanciful real estate explosion and Bahrains attempts to convert itself into a financial Mecca. The economic system has an effect on the political outcomes. Well-functioning financial institutions, in turn, can increase the political support for anti-corruption measures. Kira Boerner Christa Hainz (2006) argued When banks possess a perfect screening technology that allows them to deny credit to those debtors who use the money for financing an entry fee, the corrupt officials will still borrow from their relatives. However, compared to the case without financial institutions, the interest of corrupt officials and relatives in corruption decreases: Both parties have the opportunity to save at a bank. In similar terms, Torsten Persson (2000) had explained Economic policy is the equilibrium outcome of a well defined no cooperative game under preemptive assumptions about economic political behavior. At all levels, the present financial crisis requires a co-ordinate response on a global scale. The real risk to the world economy is the temptation to revert to protectionism by each individual country in order to solve their own domestic problems. 3. Research Methodology In choosing the correct research method to be used in this research paper, the survey research method by Questionnaires will be the basic research design. Each respondent will be supplied with a questionnaire titled How banks can overcome the Global Financial Crisis? The questionnaire is estimated to take no longer than 6 minutes for each reached individual regardless of the age. A survey of 68 individuals located in many counties throughout the country will provide the database for this study. The sample was selected on a probability basis from as much decision maker playing role individuals as possible in Bahrain. The questionnaire took place in Bahrain the response from the respondents took almost one week. Questionnaires were distributed randomly depending on many aspects such as: age, gender, employment condition most important of all, the level of knowledge regarding the topic under study. This research paper sampling volume totaled 68, out of which, males represented 38 and the rest 30 were for females. The original sample was 70, in which the researchers found that 2 individuals were students below the age of 18 and were unemployed. That made a quiet confusing decision to remove the two from the total sample, since at that age and being unemployed is not a truly decision maker respondent. 4. Challenges As the world look beyond the economic crisis, what are the most urgent challenges that are needed to be addressed? Gaining a proper perspective on the crisis itself is a first challenge. In recent decades, it has been demonstrated that a market which operates responsibly offers a more secure life and a best hope to people who seek a better standards of living wherever in the world they may live. This is absolutely fundamental. While it is true that the direct causes of the crisis the combustible mixture of excess leverage in both consumer and financial markets, the bank failures, the credit collapse have led to some painful consequences, it would be folly to conclude that the foundations of market economics have been irreparably damaged. A second challenge facing the Global is how to deal intelligently with the huge fiscal challenges ahead. The response of central banks and governments to the economic crisis may very well have averted a global catastrophe. However, massive fiscal obligations have been assumed by governments and this might take many years to unwind. What is needed is for countries to create and develop smart à ¢Ã¢â€š ¬Ã…“exità ¢Ã¢â€š ¬? strategies. Furthermore, as the private sector returns to some growth, this requires a determined pullback in government expenditure. Not an easy task: as we all know, the politics of unwinding government programs can be daunting. Here political courage and good public policy go hand in hand. The third challenge needs an urgent attention. It is acknowledged that the global economy is out of balance and that this is one of the reasons for the financial crisis. Massive reliance on external demand carries with it real consequences as does the excessive reliance on foreign investors to finance consumption and deficits for long periods of time. As one could realize, such imbalances can cause serious and long-lasting economic damage. There is also the challenge, or opportunity, of what to do with a countrys immense foreign exchange reserves. A Chinese think tank has come up with an exciting idea: that the reserves could be put to good use through the development of a Marshall Plan for Africa, Asia and Latin America. Such a development fund, or loan facility, would increase living standards in the targeted countries. The fifth challenge is enormously complex challenge that deserves attention. Sometimes we feel that we have loaded so many expectations onto the climate change agenda that it cannot help but fail. You would think that tackling this issue will give us infinite new sources of cleaner energy, and allow for the transfer of substantial amounts of financial and technological support to emerging economies. On the global side, No existing architecture is found to be proficient in preventing global crises from erupting. Since financial crises occur even in relatively tightly regulated economies, the likelihood that a supranational influence could prevent an international crisis from occurring is questionable. The financial crisis has been characterized as a à ¢Ã¢â€š ¬Ã…“wake-up callà ¢Ã¢â€š ¬? for investors who had put their faith confidence in. For example, credit ratings placed on securities by credit rating agencies operating under what some have referred to as à ¢Ã¢â€š ¬Ã…“wicked incentives and conflicts of interest.à ¢Ã¢â€š ¬? Moving forward to a sixth challenge, the Council on Foreign Relations explained the problem in a report on systemic regulation, as follows: One regulatory organization in each country should be responsible for overseeing the health and stability of the overall financial system. The role of the systemic regulator should include gathering, analyzing, and reporting information about significant interactions between and risks among financial institutions; designing and implementing systemically sensitive regulations, including capital requirements; and coordinating with the fiscal authorities and other government agencies in managing systemic crises. We argue that the central bank should be charged with this important new responsibility. Centers of financial activity such as New York, London, and Tokyo, race with each other and multinational firms can determine where to carry out particular financial transactions. This is to be addresses as one of the considerations in policy making. A seventh challenge is that a large financial institution that may be defined as large to fail represents the heavy arm that the world economy depends greatly on. If an institution is considered to be à ¢Ã¢â€š ¬Ã…“unsuccessful too big to fail,à ¢Ã¢â€š ¬? its bankruptcy would cause a major risk collapse to the system as a whole. Yet, if there is an implicit promise of governmental support in case of failure, the government may create a moral hazard, which is the motivation for an entity to be engaged in somewhat risky behavior, knowing that the government will rescue it if it fails. A further challenge is that the nature and size of accumulating financial and systemic risks have not been well identified by the existing micro regulation. It even didnt impose appropriate remedial actions. Even though some analysts and institutions were sounding alarms before the crisis erupted, there were hardly any regulatory tools available to handle with the increase of risk in the system as a whole or the risks being forced by other firms either in the same or different sectors. It seemed to be an insufficient response to some of these risks either by the authorities responsible for the mistake of individual financial institutions or specific market segments. A last fundamental challenge deals with the nature of regulation and supervision. Banking regulation tends to be specific and detailed and places requirements and limits on bank behavior. Federal securities regulation, however, is based primarily on disclosure. Registration with the Securities and Exchange Commission is required, but that registration does not imply that an investment is safe or secured, only that the risks have been fully disclosed! 5. Analysis Discussion When the U.S financial System falls down, it may bring major parts of the rest of the world down with it. The global financial crisis has opened the World eye on an important point: that the United States is still a major center of the financial world. Hence, Regional financial crises (such as the Asian financial crisis, Japans banking crisis or even the current Dubais Credit Crisis) can occur without seriously infecting the rest of the global financial system as does the United States economy. The reason behind, is that the United States is the main guarantor of the international financial system, the provider of dollars widely used as currency reserves and as an international intermediate for exchange, besides being a contributor to much of the financial capital that around the world seeking higher yields. The rest of the world may not appreciate it, but a financial crisis in the United States often takes on a global hue. To analyze the questionnaire, the researchers have used the SPSS program and the regression analysis in order to define some relationships that best help identify the problem under study. The descriptive statistical analyses questionnaire will be used, including calculations of sampling error, and statistical adjustments for unequal selection probabilities. Cross-classification analyses with demo-graphic, ANOVA, linear regression and T-Test is much more applied in order to explain some judgments. Since the researchers think that the gender is one of the independent variables that could test many hypothesis, three hypothesis were applied based on the dependant variable: First Hypothesis: There is no relationship between gender and understanding what is going on in the current financial news. Second Hypothesis: There is no relationship between gender and being informed about the à ¢Ã¢â€š ¬Ã…“Global Financial Crisisà ¢Ã¢â€š ¬?. Third Hypothesis: There is no relationship between gender and the decision that thinks of governments around the world should take in the financial sector towards their economies. The table below, represents the Statistical Data Analysis of the designed questionnaire: Table 1: SPSS Statistics for all questionnaire questions One-Sample Test    Question No.    Test Value = 0 Test Value = 0 N t df Sig. (2-tailed) Mean Difference 95% Confidence Interval of the Difference t df Sig. (2-tailed) Mean Difference 95% Confidence Interval of the Difference    Lower Upper Lower Upper Question_1 68 23.758 67 0 1.441 1.32 1.56 23.758 67 0 1.441 1.32 1.56 Question_2 68 17.636 67 0 4.206 3.73 4.68 17.636 67 0 4.206 3.73 4.68 Question_3 68 21.715 67 0 1.706 1.55 1.86 21.715 67 0 1.706 1.55 1.86 Question_4 68 22.401 67 0 3.868 3.52 4.21 22.401 67 0 3.868 3.52 4.21 Question_5 68 13.683 67 0 2.074 1.77 2.38 13.683 67 0 2.074 1.77 2.38 Question_6 68 8.596 67 0 2.029 1.56 2.5 8.596 67 0 2.029 1.56 2.5 Question_7 68 10.618 67 0 3.5 2.84 4.16 10.618 67 0 3.5 2.84 4.16 Question_8 68 17.868 67 0 2.191 1.95 2.44 17.868 67 0 2.191 1.95 2.44 Question_9 68 23.953 67 0 2.676 2.45 2.9 23.953 67 0 2.676 2.45 2.9 Question_10 68 15.557 67 0 5.059 4.41 5.71 15.557 67 0 5.059 4.41 5.71 Question_11_1 68 14.691 67 0 3.529 3.05 4.01 14.691 67 0 3.529 3.05 4.01 Question_11_2 68 18.302 67 0 4.809 4.28 5.33 18.302 67 0 4.809 4.28 5.33 Question_11_3 68 21.056 67 0 5.029 4.55 5.51 21.056 67 0 5.029 4.55 5.51 Question_11_4 68 17.835 67 0 4.426 3.93 4.92 17.835 67 0 4.426 3.93 4.92 Question_11_5 68 20.978 67 0 4.897 4.43 5.36 20.978 67 0 4.897 4.43 5.36 Question_12 68 16.241 67 0 2.735 2.4 3.07 16.241 67 0 2.735 2.4 3.07 Question_13 68 14.707 67 0 2.676 2.31 3.04 14.707 67 0 2.676 2.31 3.04 Question_14 68 26.329 67 0 2.765 2.56 2.97 26.329 67 0 2.765 2.56 2.97 Anova Model Sum of Squares df Mean Square F Sig. 1 Regression 4.074 1 4.074 4.173 .045a Residual 64.440 66 .976       Total 68.515 67          a. Predictors: (Constant), Question_1          b. Dependent Variable: Question_8          Coefficientsa Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta 1 (Constant) 1.481 .368    4.025 .000 Question_1 .493 .241 .244 2.043 .045 a. Dependent Variable: Question_8          Table 2: Anova statistics coefficients relationship Q1 Q8 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Hypothesis. From the Questionnaire, we have selected the relationship among the following questions. However, Gender will always be constant. Question (1): Please indicate your gender: Male Female Question (8): In general, how knowledgeable do you consider yourself to be when it comes to understanding what is going on in the current financial news? I know enough to be able to explain whats happening in the financial industry to other people. I understand enough to make sense of the detail behind the financial news stories. I just follow the headlines but my understanding of financial news is fairly vague. I dont really understand whats going on in the financial news. Question_8: On the One-Sample Test it is showed that the Significance is = 0.00 which is less than 0.05, so we reject any initial premise that the average Question_8 is not equal to 0. Since the answer to this question fell where the value of t = 17.868, positive, meaning that people have a significant understanding and knowledge about the current financial news. About 35.3 % of the answers to question 8 went in to that both, males females find themselves having enough understanding to make sense of the detail behind the financial news stories. On lower confidence levels, 29.4% find themselves confident enough to answer bitterly regarding the financial crisis. Question (9): How informed are you about the à ¢Ã¢â€š ¬Ã…“Global Financial Crisisà ¢Ã¢â€š ¬? that is said to be impacting the U.S. economy the rest of the Globe? Very informedà ¢Ã¢â€š ¬Ã¢â‚¬ I have actively sought additional information on this story. Somewhat informedà ¢Ã¢â€š ¬Ã¢â‚¬ I know a bit about it, but wouldnt be able to hold my own in a conversation about it. Informedà ¢Ã¢â€š ¬Ã¢â‚¬ Ive read/seen stories about it when Ive come across them in the news. Not informed at allà ¢Ã¢â€š ¬Ã¢â‚¬ I dont know anything about this story. Question_9: The mean for this particular sample is 2.68, which is statistically significantly different from the test value of Zero.  34 out of 68 sample volume representing almost 50% who have been really informed to have read/seen stories about the global financial crisis when coming across it in the news. The researchers find that the relationship between gender and being informed about the à ¢Ã¢â€š ¬Ã…“Global Financial Crisisà ¢Ã¢â€š ¬? is positive with (.493) and based on the t-value of (2.043) and p-value of (0.045), this relationship is statistically significant.   Hence, there is a statistically significant positive linear relationship between people gender being informed and know ledged enough about the crisis. Question (13): What role, if any, do you think that governments around the world should take in the financial sector towards their economies? Hands onà ¢Ã¢â€š ¬Ã¢â‚¬ the government should intervene whenever the financial sector is at risk. Intermediaryà ¢Ã¢â€š ¬Ã¢â‚¬ the government should act as an intermediary between concerned parties. Laissez Faireà ¢Ã¢â€š ¬Ã¢â‚¬ the government should not interfere with economic affairs beyond the minimum. Completely hands offà ¢Ã¢â€š ¬Ã¢â‚¬ the government should let Wall Street solve its problems on its own. Case by caseà ¢Ã¢â€š ¬Ã¢â‚¬ the government should take a case-by-case approach. ANOVAb Model Sum of Squares df Mean Square F Sig. 1 Regression 14.714 1 14.714 7.132 .010a Residual 136.168 66 2.063       Total 150.882 67          a. Predictors: (Constant), Question_1          b. Dependent Variable: Question_13          Coefficientsa Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta 1 (Constant) 1.326 .535    2.480 .016 Question_1 .937 .351 .312 2.671 .010 a. Dependent Variable: Question_13          Table 3: Anova statistics coefficients relationship Q1 Q13 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Hypothesis. The relationship between gender and the choice to think of the role that governments around the world should take in the financial sector towards their economies is positive (.937). Based on the t-value (2.671) and p-value (0.010), it is to be clarified that this relationship is statistically significant.   Hence, there is a statistically significant positive linear relationship. Most of the questionnaires answer to question 13 went to choose that the role of government can be best suggested as to: Hands onà ¢Ã¢â€š ¬Ã¢â‚¬ the government should intervene whenever the financial sector is at risk. Question (4) Which of the following best describes the highest level of education you have attained? Some high school High school graduate Some college College graduate Some post graduate studies Post graduate degree Question (13): What role, if any, do you think that governments around the world should take in the financial sector towards their economies? 1 Hands onà ¢Ã¢â€š ¬Ã¢â‚¬ The government should intervene whenever the financial sector is at risk.    3 1 7 1 8 2 Intermediaryà ¢Ã¢â€š ¬Ã¢â‚¬ The government should act as an intermediary between concerned parties.    2 7 3 1 2 3 Laissez Faireà ¢Ã¢â€š ¬Ã¢â‚¬ The government should not interfere with economic affairs beyond the minimum.    3 7 4 -   1 4 Completely hands offà ¢Ã¢â€š ¬Ã¢â‚¬ The government should let Wall Street solve its problems on its own.    1    2    -   5 Case by caseà ¢Ã¢â€š ¬Ã¢â‚¬ The government should take a case-by-case approach. 1 2 3 4    5 Table 4: Cross Checking Analysis between Q4 Q13. To provide a better understanding of a cross classification, the table below indicates that, most of people holding a college degree, agreed with the choice that governments should intervene whenever the financial sector is at risk and in need for its support. Therefore, we see that the Global Financial Crisis can be broken down into major phases. Although each phase has a policy focus, it seemed that until t