Friday, December 27, 2019

Movie Review 12 Angry Men - 607 Words

Ans 6. â€Å"Prejudice always complicated the truth.† The movie 12 Angry Men, by means of several situational examples, reaffirms the fact. The first case in point is of the boy on trial who is born and brought up in slums. Many of the jury members, especially jurors 10, 7, 4 and 3 are heavily influenced by the prejudices they hold against children from the slums. In one of the scenes, juror 10, goes into a rage and explains why people from the slums cannot be trusted and calls them little better than animals who gleefully kill each other off for fun. Juror 4 had earlier pointed out that slums are breeding grounds for criminals and that these slum children are a threat to our society to which 10 adds that they are â€Å"real trash†. This is where†¦show more content†¦He later admits that his anger over his son is the reason why he wants the defendant to be guilty and breaks down tearing off the photograph of his with his son. Theoretical perspectives: Some of the theories that explain certain situations in the movie are: Confirmation Bias – Because of which we tend to be willing to gather facts that support certain conclusions but disregard other facts that support different conclusions. Individuals who are highly defensive in this manner show significantly greater left prefrontal cortex activity as measured by EEG than do less defensive individuals. Selective perception – Due to which we, out of prejudice, actively screen-out information that we do not think is important. Source credibility bias – Because of which and out of prejudice we reject something if we have a bias against the person, organization, or group to which the person belongs: We are inclined to accept a statement by someone we like. Choice-supportive bias - This occurs when we distort our memories of chosen and rejected options to make the chosen options seem more attractive. References:Show MoreRelatedTheme Of Self Image In 12 Angry Men892 Words   |  4 Pagessingle person on this earth is unique unto theirself. Think about it! Each individual has their own personality, agenda and history. Such are the characters portrayed in 12 Angry Men. The movie 12 Angry Men was the first of fourty-three films in the career of director Sidney Lument, who often sought controversial issues (RE). This movie focuses on a jury’s deliberation in a capital murder case, where a guilty verdict means an automatic death sentence. As the deliberations unfold the story quickly becomesRead MoreEssay about Influencing an Entire Crowd in 12 Angry Men1021 Words   |  5 PagesTwelve Angry Men is a movie that was made in 1957. The movie is a classic showing how one person can change the minds of an entire crowd. In this group of a dozen jurors you have very different personalities and also you have some men that want to be leaders and some that do not. Also the movie demo nstrates that actions and behaviors of the twelve jurors. This is an example of small group communications. The juror that was the Architect in the suit was probably the strongest leader in theRead MoreAnalysis Of 12 Angry Men And Groupthink1519 Words   |  7 Pages12 Angry Men and Groupthink The movie â€Å"12 Angry Men,† is one that begins with a judge talking about the circumstances that surround a murder trial where a judge sends the jury off to deliberate on their verdict. Throughout the movie the twelve men struggle between deciding if the defendant if guilty or not guilty for the crime of murdering his own father. If found guilty, the young boy will be sentenced to death. The twelve men spend their time in a hot room debating if this boy is truly guiltyRead MoreCadillac Records1086 Words   |  5 Pagesbriefly shows Mick Jagger, from The Rolling Stones near the end of the film, and occasionally Howlin Wolf and Hubert Sumlin make an appearance.   The movie first introduces the main characters. Leonard Chess is portrayed to audience as an ambitious young man. His parents were polish immigrants, and he dreams of being successful and rich. As the movie progresses and he is shown to be a competent businessman; and he also seems to care for the musicians that he works with, especially Muddy. A few minutesRead MoreEssay about 12 Angry Men Group Behavior1610 Words   |  7 PagesGroup Dynamics in 12 Angry Men In the 1957 classic 12 Angry Men, group dynamics are portrayed through a jury deliberation. Group dynamics is concerned with the structure and functioning of groups as well as the different types of roles each character plays. In the film, twelve men are brought together in a room to decide whether a boy is guilty of killing his father. The personality conflicts, the joint effort and the functioning of several minds together to search for the truth are just a fewRead MoreFilm Analysis: 12 Angry Men Essay789 Words   |  4 Pageson the line, meaning that if the verdict is guilty, the person is automatically sentenced to death, you would hope a jury would be sure that a person is guilty beyond a reasonable doubt, before sending a person to death. While watching the movie, 12 Angry Men, what seemed to be an open-and-shut guilty verdict for the jury, instead took a viewer through numerous ethical dilemmas, specifically dealing with prejudice, capital punishment, integrity, anger and ho stility resulting in reasonable doubt.Read MoreEssay about Group Dynamics in 12 Angry Men 1595 Words   |  7 PagesIn the 1957 classic 12 Angry Men, group dynamics are portrayed through a jury deliberation. Group dynamics is concerned with the structure and functioning of groups as well as the different types of roles each character plays. In the film, twelve men are brought together in a room to decide whether a boy is guilty of killing his father. The personality conflicts, the joint effort and the functioning of several minds together to search for the truth are just a few characteristics of group dynamicsRead More12 Angry Men Analysis 6965 Words   |  4 PagesIn the movie â€Å"12 Angry Men† all five methods of influence were used. The Methods of influence such as use of reason, assertiveness, coalition building, higher values, and bargaining were all used by the jurors; whether it was purposely or subconsciously. The influential methods used by juror number eight were the most effective for many reasons. Jurors number three, the messenger service owner, and number ten, the garage owner tried to use the assertiveness method of influence to get their pointsRead More12 Angry Men1257 Words   |  6 Pages12 Angry Men-Influencing Other Group Members This movie was great to see again and to experience all the different dynamics that were occurring amongst the 12 jurors. The time frame in which this movie takes place is not too different than what we experience today in our judicial system. The major differences today would be we do not discriminate based upon age, race or gender. All three of these factors would influence how the jurors would interact with one another and would eventually haveRead MoreEssay about Persuasion in 12 Angry Men984 Words   |  4 Pagesaudience and include different opinions into a shared conclusion. In the movie â€Å"12 Angry Men†, juror number 8 (Henry Fonda) was not sure if evidence presented against a young defendant in court left reasonable doubt for a guilty conviction. The other jurors believed the presented facts and the defendant’s background warrants a guilty conviction. The movie showed how juror number 8 persuasively got the other jurors to review each fact logically, which led to an unanimous not guilty decision. Conger

Thursday, December 19, 2019

Identifying and Using Phrases - 974 Words

PRACTICING WITH PHRASES WORKSHEET SECTION I: FINDING PREPOSITIONS PHRASES Underline the preposition phrases in each sentence. There may be more than one. 1. Gustav Mahler’s Symphony No. 3 is the longest of all symphonies. 2. Claude Monet painted hundreds of pictures of the same water-lily garden. 3. Among the most easily recognized photographs are those of Ansel Adams. 4. Julia Margaret Cameron, a pioneering photographer of the 19th century, developed new techniques in portrait photography. 5. During his career, Italian sculptor Giovanni Lorenzo Bernini worked for five popes. SECTION II: IDENTIFY TYPES OF PREPOSITIONAL PHRASES Underline the prepositional phrase in each sentence. Circle the word or words that it†¦show more content†¦47. Ted will get up very early tomorrow. That is what he expects. 48. Anita found the right costume. She will wear it to the Halloween party. 49. The dog barked loudly. Its action frightened the intruder. 50. Ludwig lost an important ability. He could no longer hear his own music. Need more grammar help? Check out these internet links on my school web page: http://owl.english.purdue.edu/owl/resource/627/01/ (gerunds, participles and infinitives) http://owl.english.purdue.edu/handouts/grammar/g_appos.htmlShow MoreRelatedEssay about Research project 1704 Words   |  3 Pagesinformation. Step 1: Select Your Research Question Top of Form 2. What effect does violence in the media have on children? How will Step 1 be graded? Step 1 will not receive a grade. Step 2: Select Your Search Terms A. Identifying Key Concepts List the three key concepts (words, phrases, or both) that best describe the main concepts of your selected research question from Step 1. Key Concept 1 Key Concept 2 Key Concept 3 violence media children Example: For the research question How can marketingRead MoreLesson Plan Year 3943 Words   |  4 PagesListening and Reading Other skills : Speaking, Writing Curriculum Specifications : 1.3.1 Listen to and understand phrases on stories, recounts and descriptions heard. 2.2.3 Ask questions to seek clarification on how to make or do things, on places, directions and on amounts and quantities. 2.3.3 Talk about things heard, seen, read 3.4.1 Read aloud phrases and sentences, pronouncing them correctly Previous Knowledge : Pupils have learned the names of domestic animals LearningRead MoreI Have Learned Through Teaching1477 Words   |  6 Pagesoff and she knew I would be ecstatic! After reviewing the students’ initial drafts, I decided to teach students how to incorporate transitional words and phrases, because they were having a hard time jumping from one idea to the next in their writing. I had noticed from their first draft that they were struggling with these particular phrases. Through analyzing their written responses I noticed what students needed additional help with. I used student data to inform future teaching. This was theRead MoreEvaluating A Customer Reviews Of Products Sold Online1530 Words   |  7 Pagespaper, a customer review of a particular product is composed of three parts, namely: Different features of the products that the customers have expressed their opinion, Identifying positive and negative opinions based on their reviews and finally Composing a summary based on information obtained. The main advantage of using feature based summary is that it enables customers for explicit reviews on a particular product. This also enables merchants to study the growth of their products effortlesslyRead MoreLanguage Linguistic Description Of English1630 Words   |  7 PagesDescription of English Exercise 1: In casual speech, particularly in British English, got is often added after certain uses of the verb have. Your task is to try to work out the conditions that govern this phenomenon by constructing examples using the following phrases: 1. have green eyes 2. have toothache 3. have a nightmare 4. have a shower 5. have an older sister 6. have a baby 7. have a coffee 8. have to work 9. have the secretary type the letter 10. have the letter typed by the secretary IntroductionRead MoreBloom and Gagnes Instructional Theories1087 Words   |  5 Pagesdescribe the learning environment. Lastly, it will describe the activities and elements of the lesson. Learning Theories: A Comparative Analysis of Bloom’s Taxonomy and Gagnà ©Ã¢â‚¬â„¢s Conditions of Learning Reigeluth defined instructional theory as, â€Å"identifying methods that will best provide conditions under which learning goals will most likely be attained† (Driscoll, 2005). Instructional theorists have long debated what conditions stimulate and motivate learning. Two of the originators of learning theoriesRead MoreTeaching For Conceptual Understanding Of Science By ( Konicek Moran And Keeley, 2015 )769 Words   |  4 PagesFor Conceptual Understanding in Science† by (Konicek-Moran and Keeley , 2015), authors’ focus is in on identifying the conceptual understanding accurately by providing adequate explanations, comparisons and examples. juxtaposing studying for conceptual understanding with the old direct instruction in order to manifest the authentic usefulness of applying scientific strategies depends on using the conceptual understanding. Thereafter, the book indicate to the real effectiveness for applying it inRead MoreInstructional Setting And Conten t Area Essay1400 Words   |  6 Pagesabout content, students need to have an extensive vocabulary and the strategies to assist them, to clarify meanings of unknown words or phrases. Consequently, the standards for students to be proficient in using the context from a sentence or paragraph or common Greek and Latin affixes and roots, as clues to identifying the meaning of an unknown words or phrases, begins in sixth grade. However, since the three years of CA CCSS implementation, eighth graders at San Pasqual Union School are stillRead MoreStudent Population Is Esl High School Students1022 Words   |  5 Pageson the students: The targeted student population is ESL high school students (around 18 years old and above) who have mastered the L2 basic writing skills, such as writing grammatically correct sentences, building compound sentences, using prepositional phrases, etc. They are bilingual and culturally varied. Their L1 skills are a little bit better than that of L2. Students’ goal: Their goals are primarily to develop writing skills and, for this particular class, to learn how to develop proceduralRead MoreThe Main Objectives Of Organizing A Speech970 Words   |  4 PagesThe four main objectives of organizing a speech are to: Identify 2 to 4 main points, arrange them using appropriate patterns, and add supporting material to achieve your desired goal. Combine them and use them to produce a clear thesis statement Develop each main point by developing supportive reasoning for your chosen topic Create an outline base on your main points. Identifying main points of a speech: While demonstrating a speech, the primary objective of it is to find he main

Wednesday, December 11, 2019

The Case Study of the Financial Fraud

Question: Write to the case study of the financial fraud. Answer: 1: The Similarities And Differences Of The Ponzy And The Pyramid Scheme: Ponzi scheme is the business of forgery. It is a swindling of investment that assures high rates of payment in return (Baucus 2014). It also displays that there is a very little possibility to risk for the investors. It is a type of white-collar crime, on which some designated personality takes money from new investors to make payments to the old investors. The money is not actually invested and that is why the scheme collapses and the investor who subsidizes money for the scheme finally loses his money. A pyramid scheme is a type of business structure, which enlists members with the assurance of service or payment promise to register candidates into this scheme (Sheffrin 2013). Enlisted members increases in number and further recruitment becomes unsustainable thus the scheme fails to accumulate profit and faces closure. Pyramid scheme is an illegal business and it is hard to detect but it has been seen that the scheme can be identified the lack of retail sales (Kolk 2016). Investors purchase and load their inventory with automatic purchases at regular intervals but the products do not sell because their selling value is less than the prices on which they have brought the product. Ponzi scheme is harmful to the society not only because not only they lose customer support but also have to confront financial loss. The financial industry has experienced this kind of financial misdemeanor called Ponzi scheme (Johnson 2012). Pyramid scheme and Ponzi scheme are often mistaken to be the same. Pyramid structure, as earlier has been discussed cannot be detected easily whereas Ponzi scheme can be detected easily ( Ramaseshan 2015). Pyramid is an explicit scheme because in this case an individual has to pay money for a chance where other individuals can pay the money. Ponzi scheme is implicit scheme as it requires an individual to fabricate in order to gather participant for their scheme. According to Nashat, Abdullah and Abdullah 2014, Pyramid scheme authorities need to work actively as they know that they have to gather or hire new participants and sell products in order to make their scheme workable. In Ponzi scheme individual contributes money to a manager who assures them that they will get higher money value in return. The person who carries out this kind of business controls the whole operation but in pyramid scheme is formulated so that the primary schemer hire investors who in return will hire other i nvestment makers and this process goes on(Kumar, Ravi and Mahapatra 2015). In this scheme, the investment chances are offered as incentive structure where they have a right to trade a product. A Ponzi scheme is a fraud scheme which is indicated as crime but pyramid is said to be a deceptive business which is supporting an unsustainable practice and also manufacturing of any product and service. Pyramid scheme creates an organizational structure by recruiting more and more investors so that they can expand their business (By and Burnes 2013 ) Ponzi is not a business. It is a type of investment firm and which collapses when there are no new investors. Ponzi is basically a scheme opted by the brokers. In a Ponzi scheme there is no existence of a real business, it is a scheme that is used in any industry where investments are made but in pyramid scheme there is an existent business (Frankel 2012). Bernard .L. Madoff and R. Allen Stanford are the two schemers who volunteered in Ponzi scheme. Ponzi scheme and pyramid scheme are the similar looking mode of forgery. They share similar kind of characteristics. In both the cases the individuals like financiers and business personality's dupe oblivious individuals who mistakenly make investments in order to get the extraordinary amount in return (Lee and Fargher 2013). Investors in both Ponzi and pyramid schemes gets targeted basically because they are rich and are capable of paying a large amount of money. According to Young and Kumar, S., 2016, the money is taken from the investors in the name of making an investment which will after sometime increase into an amount which is double or may be triple of the amount which is invested. Unlike in regular investment the schemes promise that an individual can earn a consistent profit then he has to keep on allocating investors who are interested in making an investment (Rayman 2013). They are both self-sustaining schemes where the investors have to keep on increasing volunteers who will readily invest the amount for the scheme. The inward flow of cash needs to match with the outward flow of the cash (Gonzalez-Perez and Leonard 2013) . In both the cases the initiator of the scheme is the one who has committed the real crime, the participant are not guilty as long as they have invested unknowingly to the scheme. 2: What Helps The Criminals Like Bernie Madoff To Survive And Thrive: TheMadoff investment scandalwas one of the major cases of stock and securities deception, which was exposed in late 2008. If the abilities or the conveniences of the white-collar criminals like Bernie Madoff, which helped them to carry out their fraudulent business is investigated, it can easily be found that a number of instruments ware influential in this regard. Even being a well-respected investment banker, Madoff persuaded thousands of investors to invest their savings with a false promise of consistent income in return. However, how did he or the other fraudulent businesspersons are able to do this. As discussed by Baer 2014, Ponzi schemes typically pay returns of 20% or higher, and collapses quickly. However, in the case of Bernie Madoff, a number of things worked in his favor. The following discussion may put some light on this matter. As considered by Mandell 2015, Madoff swindled his depositors out of $65 billion and went unnoticed by the related state authorities for decades. It came into the limelight in 2008. Madoff used the idea of Ponzy Scheme. As discussed by Golden et al. 2012, the name Ponzi Scheme was originated from the Italian businessperson and a fraudulent artist Charles Ponzi. This is a special kind of investment and returns strategy. As opined by Greenberg and SzE 2013, Ponzi Schemes are operated by a central machinist, who uses the funds from new depositors to pay off the guaranteed returns to older ones. Here, the con men like Bernard Madoff, manage a fraudulent investment service. The investors are convinced to deposit their money to the portfolio manager. This manager guarantees the investors that they will be funded with a great return (Lai 2015). On the other hand, he makes the same promises to so many other investors and thus collects funds from them. Now, when the previous investors want th eir money or the return, "they are paid out with the incoming funds contributed by later investors" (Lewis 2013). Here, the manager of these funds are merely shifts the money from one investor to the other and abstains from any genuine investment activities. In the case of Bernard Madoff, he admitted that he just transferred the money from one bank to the other. One of the main reasons that the con investors like Bernard Madoff can carry put their notorious business is their promise and the initial cases of high returns to the investors (Stephen and Galak 2012). Most of the clients of Bernard Madoff, were well-off, and they wanted to obtain a high and consistent return. So, they ware happily convinced and invested to the Ponzi Scheme of Bernard Madoff. it is the greed of the investors that lured them to invest in a high return scheme without any hesitation. Also in the case of Allen Stanford, another white-collar fraud, the investors were promised to high range of return with a 9.87% compound annual interest, which was much higher than the contemporary US average CD rates (Mullenix 2013). This lured the investors to invest in his scheme. As opined by Deason et al. 2015, the investors must notice such red flags, only then the con financer s can be stopped to operate. As mentioned by Greenbergn and SzE 2013, the victims of such cases state that they believe such firms as the returns are amazing and they are always able to get their money back within few days of their claims. One of the main reasons of flying off the white-collar criminal like Bernard Madoff, is their faculty of being well-versed in their operating sectors. Bernard Madoffs advantage of being a former member of the financial industry helped him to nullify the threats of the financial investigations. He was in this industry for a long time and he was hardly unknown to the dos and donts of this sectors. Therefore, it can easy be believed that this 70-year-old commerce veteran knew unerringly what he was doing. As opined by Baucus and Mitteness 2016, the knowledge of the industry and the strength of education and confidence help them operate such a fraudulent business for a longer period. As discussed by Edelbacher et al. 2012, it can often be seen that the white-collar criminals are mostly the trustworthy and the respectable figures. It makes the victims of the business believe that the operation is legitimate and there is nothing to be skeptical about. As opined by Golden et al. 2012, people tend to believe a person who looks professional and respectable in their outward appearance. In the context of Bernard Madoff, his appearance and the reputation of being a veteran financial advisor worked a lot for the smooth running of the business. The fraudulent operations of Bernard Madoff or Allen Stanford works with great precision as long as the perpetrators are able to manage and make the new investors deposit in their schemes. As mentioned by Will 2012, often the offer self-effacing but secure return lures the investors more than the promise of high returns. Bernard Madoff and Allen Stanford, both made use of the market demand for financial security. Bernard Madoff did not promise high range interest and return to all of his investors rather he offered them a consistent earning. This helped him to arrange a number of willing depositors time to time. His Ponzy Scheme was just to transfer the money from one investor to the other. The consistent investment by the new investors helped them to ensure the constant return of money to the investors. Sometimes the lack in the investigation set up helps the criminals like Bernard Madoff. as the Swiss bank stated that because of Madoff's reputation and experience as a financial broker, they believed him and opted for no prior investigation. The strong hold in the legal sectors also helps the frauds like Madoff's for a longer period than the other financial frauds. Both in the cases of Bernard Madoff and Allen Stanford, the Securities and Exchange Commission was extremely criticized for their failure of the early detection of the cases of Ponzy Scheme. People started to allege the firms long before, but the repeated investigations of SEC failed to detect any financial wrongdoings in the accounts of these firms. As opined by Baer 2014, as a number of SEC employees were involved in the investment business, the lack of proper objectivity fogged up the whole process of investigation and its aim. In addition to this, Bernard Madoff had a long-standing relationship with Securities Industr y and Financial Markets Association(SIFMA) and the highly eminent lawmakers and regulators of Washington (Lewis 2013). This helped him a lot to avoid an unbiased and stringent financial audit and investigation. TheCentral Bank of Irelandhas also stated that they failed to detect the massive fraud operation of Madoff and was duped by his scheme. As estimated by Mullenix 2013, in Madoff's case, the business compelled to deteriorate when most of the clients ordered a total of $7 billion back in return. One of the USPs of Madoffs businesses is that the customers were allowed to withdraw their money whenever they want and it fortunately revealed the biggest white-collar crime of the decade. It was in the second half of 2008, when the European investors began to withdraw their investment as a reaction of the worldwide recession. As discussed by Walsh and Spalding Jr. 2012, there were a number of other notable Ponzi schemes witnessed by the history of the financial world, including Allen Stanford's who stole $8 billion and Tom Petter who duped the investors with almost $3.7 billion,but as far as degree goes, Madoff wins by a landslide. 3: The Potential Measure To Tackle The Financial Crimes: In the world where the internet has become an inseparable part of our everyday life, it has become very had to control the cases of Ponzy Scheme and pyramid scheme. As discussed by Schwieso 2014, Financial crime is one of the majorglobal issues and it has to be addressed with a high priority. In a pyramid scheme the perpetrator attempts to earn money by recruiting agents as new members. The business talks about multi level marketing and selling of products or services. But in reality, advocates of the investment use funds from new members to pay off the previous investors until in due course, the pyramid falls down (Banks and Torres 2012). As opined by Banks and Torres 2012, these proposals usually guarantee significant returns in a very small period. On the other hand, in the Ponzy Scheme, a financial fraud convinces the investors to invest in a fund, with the promise of a high return and consistent earnings (Walsh and Spalding Jr. 2012). Here, in this scheme, the perpetrator makes the investors believe that the fund will be invested in a legitimate business and the investors will be able to draw the legitimate return in any point of time. However, in reality, the fraud financial broker simply pays the previous investors their claims with the money accumulated from the investments by the new depositors. Thus without conducting any genuine business the fraudulent broker makes a huge earning (Baucus and Mitteness 2016). Awareness among the customers: Now, in most the cases it can be found that the investors do not possess a definite knowledge about the operation or nature of the schemes. This typically makes them fall under the pray of the fraudulent financial business operations. The investors have to be able to detect the characteristics of the schemes like Ponzy or pyramid. As discussed by Sullivan 2015, by identifying the warnings or the red flags the investors can save themselves from becoming a victim of financial crimes. The promise of high and certain return with little or no risk should be identified as a red signal. Overly consistent and positive return is a hard thing to achieve. Therefore, the customers have to be conscious about such promises. Tall claims in the statements no investor has ever lost a single penny of his investment with us have to be detected as a warning sing in the investment sector. The customers should also be conscious about the businesses where the executors are not willing to divulge their business strategies. In the case of Madoff, as mentioned by Andrews et al. 2013, He commonly refused to meet openly with investors, which gave him an "Oz" impression and amplified the allure of the venture. It could work as a red flag for the investors but they denied to notice it. Usage of internet: In addition to this, the investors have to be careful about the usage of internet for the financial transactions. With the help of the internet, the execution of the pyramid scheme has become easier (Lagazio et al. 2014). Therefore, while making networking with any business set up through the internet it is important for the users to be extra careful. On the other hand, other financial crimes online theft can also be tackled with a bit more consciousness from the user end. Hence, it can be said that to tackle the cases of the financial crimes, it is mostly important to generating awareness among the customers or the investors. As opined by Kundi et al. 2014, as they come directly in contact with the fraudulent and illegal investment schemes like Ponzy or the pyramid scheme, it is highly recommended that the generation of an extensive awareness and knowledge and alertness is the prerequisite for the success of the mission of tackling the financial crimes. Whistle blowing: To stop the financial frauds the Whistle blowing process can also become a fruitful method. The monitoring agencies like Securities and Exchange Commission, can introduce regular monitoring of the complaints or suspicion tickets raised not only by the customers but also by the employees of the concerned organization. As discussed by Edelbacher et al. 2012, any misdemeanor within the organization when detected by any internal unit (the employees) or an external unit (the stakeholders or the customers) will be informed to the relevant authority within minimal time. It will help the legal authorities address and detect potential criminal activities. Compliance standards: As opined by Haq 2016, it is important to set certain compliance standards for the entire financial industry. It is difficult to lay a fixed standard for all financial activities, but certain compliance should be there so that the diversions can easily be detected and the required steps can be taken before the collapse of the system. The idea of the compliance standers means a set of legal specifications, policy and laws, which all the institutions operating in the financial industry have to follow. As opined by Sullivan 2015, it has to be a legal compulsion for them to abide by these set norms. Know-Your-Customer (KYC): As discussed by Andrews et al. 2013, it is important to prevent the cases of money laundering. One of the best processes to deal with it is to introduce the know-your-customer process within the organization. It will be helpful both in protecting the benefits of the customers as well as the organization. As opined by Edelbacher et al. 2012, based on a professional relationship with customers, this is an important tool to achieve an appropriate level of Customer Protection. Now, most of the organizations operating in the banking industry are following the strategy of Know-Your-Customer (KYC). Internal control and audit: In addition to this, it is important to lay down rules for internal control to address the issues like financial crimes. As opined by Haq 2016, internal audit can be a rewarding instrument in detecting the monitory misconduct within an organization. On the other hand, the financial audit by the credible and registered and unbiased auditor can also help an organization to control the occurrences of financial misdemeanors. It is important for the companies to regularly review and amend their financial policies so that they would be able to address the modern and contemporary issues. As discussed by Baucus and Mitteness 2016, it is also important for the companies especially the companies that are operating in the financial sectors like banks or the insurance companies to provide regular and up to date training programs to their staffs so that they become capable enough to detect, avert and address the financial crimes. Legal punishments: As discussed by Baer 2014, to tackle increasing rate of the financial crimes worldwide the legal procedure of stringent punishment can be followed. Though most of the countries have legal guidelines to combat and control the occurrence of the white-collar crimes, the cases are only increasing. As mentioned by Haq 2016, in countries like, China, the white-collar crime can cause a perpetrator even capital punishment. There is a perpetual debate about the disparity of the sentencing in the white-collar crime case; the importance of a stringent punishment cannot be ignored. As opined by Edelbacher et al. 2012, the organizations as well as the customers should work closely with the state authority like the legal system of the country, law enforcement bureaus, the regulators etc. to share the finest practices and contribute to the current initiatives, which are intended to stop the risk of the financial crimes. Thus, avoid discussed methods and tactics can help in avoiding the further occurrences of the financial crimes like Ponzy schemes or the Pyramid schemes. However, without the extensive awareness among customers or the investors no process will be responsive enough to address the problem of financial crimes. References: Andrews, S., Polovina, S., Yates, S., Akhgar, B. and Bayerl, P.S., 2013, January. Tackling Financial and Economic Crime through Strategic Intelligence: The EMPRISES Framework. InProceedings of the International Conference on Information and Knowledge Engineering (IKE)(p. 1). The Steering Committee of The World Congress in Computer Science, Computer Engineering and Applied Computing (WorldComp). Baucus, M.S., 2014, December. Shortcut to Success: How Ponzi Entrepreneurs Establish Grow Ventures Quickly. InProceedings of the International Association for Business and Society(Vol. 25, pp. 260-267). Baer, M.H., 2014. Confronting the Two Faces of Corporate Fraud.Florida Law Review,66, p.87. Banks, T. and Torres, T.J., 2012. Update on the Pyramid Scheme.The European Physical Journal C,72(10), pp.1-6. Baucus, M.S. and Mitteness, C.R., 2016. Crowdfrauding: Avoiding Ponzi entrepreneurs when investing in new ventures.Business Horizons,59(1), pp.37-50.

Wednesday, November 27, 2019

Kadeejah Johnson Essays (581 words) - Human Development,

Kadeejah Johnson Professor A. Baker Chapter 12 8 April, 2016 Chapter 12: Emotional and Social Development in Adolescence Chapter 12: Review (page 321) List personal and contextual factors that promote identity development. Personal and contextual factors that promote identity development are the personality characteristics, parenting practices, interaction with diverse peers through school and community activities , schools and communities, and lastly societal forces. These things are set for them to explore or identify themselves based on how they view themselves and their actions. When the parents are involved in their child's actively they are then influenced and attached to their parents, and in their own opinions they are active in their lives. The interaction with diverse peers allows them to open up to the idea that peop le are all different. Many of those who have friends that are from other countries are involved in exploring relationship issues. School communities allow students to explore the supportive experience included within the classroom, and promotes a high level of thinking. Chapter 12: Apply (page 321) Return to the conversation between Louis and Daryl in the opening of this chapter. Which identity status best characterizes each of the two boys, and why? The identity status that best characterizes each of the two boys is identity foreclosure because each of them look for the self-endearment of actually exploring new things and having the openness to try different things. They are struggling to identify the commitment in the absence of exploration. Although both of them want to experience these things they also have the openness to explore other cultures. In many cases they will have the option after they graduate to explore those options. Chapter 12: Apply (page 328) Tam grew up in a small village culture, Lydia in a large industrial city. At age 15, Tam reasons at Kohlberg's Stage 3, Lydia at Stage 4. What factors might account for the difference? Tam reasoning at Stage 3 than Lydia's Stage 4 is because of the moral issues that they both have experienced coming from different stages. Their level of reasoning is remotely different because they are thoroughly and their immediate response to their difference is almost interchangeable. Even in the Kohlberg stage they are constructing a deeper understanding of fairness and justice. This guides both of them that their moral action should remain powerfully influential. They will influence each other based only on the fact that they are from different areas and their morals. Chapter 12: Review (page 334) Describe the distinct positive functions of friendships, cliques, and crowds in adolescence. What factors lead some friendships and peer-group ties to be harmful? The distinct positive functions of friendships, cliques, and crowds in adolescence is that each of them stand for different things and they are organized based on the personalities. Some of them are different because some of them may be the bullied group, but they stick together in order to feel a level of protection. In the year of adolescence majority of the time they tend to stick in groups in order to establish popularity, and in most cases to feel secure and not left out when there are issues amongst other groups. Some factors that lead to some friendships and peer-groups is tied to be harmful because when they get bigger, and other groups form, there would be a case of which is better.

Saturday, November 23, 2019

legal position of directors Essay Example

legal position of directors Essay Example legal position of directors Essay legal position of directors Essay LEGAL POSITION OF THE DIRECTORS OF THE COMPANY Mrs. Kamya Rani Mrs. Sukhbir Kaurl A company is an artificial person created by law. It functions through human agents who are collectively called Board of Directors. They are termed as Trustees of the assets of the company who sees that company business is carried on in accordance with the Memorandum and Articles of Association of the company. They decides policies of the company keeping in view the main objects for which the company was formed. Only an Individual is eligible for appointment as a Director of the company. There are various types of directors: 1 . Executive Directors i. e Managing Director, Whole time director 2. Non Executive Director Nominee Director Institutional Nominee Promotional Institutional Nominee Lending Institutional Nominee Holding company nominee Collaborator Nominee Government Nominee us. 48B Debenture holder Nominee Independent Director Others The individual cannot be a director for more than 15 public limited companies. The Directors of the company are custodians of the interest of the stakeholders which includes: (i) Employees Shareholders Creditors Customers Society It is not easy to explain the position that a director holds in a corporate enterprise. A director is not a servant of any master. He is the controller of the companys affairs. Director of a company is neither an employee nor a servant to the company. They are professional people who were hired by the company to direct its affairs. However there is no restriction under the Act, that a director cannot be an employee to the company. In Lee v. Lees Air Farming Ltd 1961 AC 12, it was held that, a director may, however, work as an employee in different capacity. There is no definite definition for irector under the Companies Act, 1956. Director includes any person who is occupying the position of a director, whatever name called. Director As Agents In Ferguson v. Wilson (1866) 2 Ch App 77, the court clearly recognised that directors are in the eyes of law, agents of the company. It was held that, the company has no person; it can act only through directors and the case is, as regards those directors, merely the ordinary case of a principal and agent. When the directors contract in the name, and on behalf of the company, it is the company which is liable on it and not the directors. In Elkington Co. v. Hurter 1892(2) CH 452, where the plaintiff supplied certain goods to a company tnrougn Its cnalrman, wno promlsea to Issue nlm a debenture for the price, but never did so and company went into liquidation, he was held not liable to the plaintiff. Similarly, a director was held to be personally not liable in a suit against a private chit fund company. Attachment of the property of the director was held to be not permissible. Like agents, directors have to disclose their personal interest, if any, in any transaction of the company. In Ray Cylinders Containers v. Hindustan General Industries Ltd(2001) 103 CC 161, held that, the directors are the agents of the institution and not of its individual members, except when that relationship arises due to the special facts of the case. Also granted permission to file a suit against a company was not allowed to be treated as permission against directors as well. In Sarathi Leasing Finance Ltd v. B Narayana Shetty(2006) 131 CC 798, the articles of association empowered the managing director to represent the company in legal proceedings. It was held that a further authorization was not necessary to enable im to file a complaint for dishonor of cheque under Sec. 138 of Negotiable Instrument Act. Directors are the agents of a company. They are acting on behalf of the company. So the directors cannot be held personally liable for any default of the company. It was held that, for a loan taken by a company, the directors, who had not given any personal guarantee to the creditor, could not be made liable merely because they were directors. Director As Trustees Directors are the trusties of the companys money, property and their powers and such must account for all the moneys over which they exercise control and shall efund any moneys improperly paid away, and shall exercise their powers honestly in the interest of the company and all the shareholders, and not their own sectional interest. To whom the directors are trustee? Whether to the company or to the individual shareholders. This principle was laid down in 1902 in Percival v. Wright, and still holds ground as a basic proposition. In this case the court held that, directors have no duty towards individual shareholders. From this it is very clear that, the directors are trustees to the company and not of individual shareholders. The principle of the case was reiterated in Peskin v. Anderson. Ordinarily the directors are not agents or trustees of members or shareholders and owe no fiduciary duties to them. However we have to take the decision of Allen v. Hyatt(1914) 30 TLR 444. It was held that, the directors are trustees of the profit for the benefit of the shareholders. They cannot always act under the impression that they owe no duty to the individual shareholders. But it is of no doubt that the primary duty of the director is to the company. Director As Organs Of Corporate Body The organic theory of corporate life treats certain officials as organs of the company, or whose action the company is held liable Just as a natural person is for the action of his limbs. Thus the modern directors are more than mere agents or trustees. The Board is also correctly recognised to be a primary organ of the company. Directors and managers represent the directing mind or will of the company and control what it does. The state of mind of these managers is the state of mind of the company and is treated by law as such. The practical effects of these rules are that the directors personal fault in the business of the company becomes the fault of the company; nelr reason to Delleve Is attrlDutea to tne company ana tne Intentlon to occupy a premises as expressed by their conduct is the intention of the company. CHANGES MADE BY THE NEW COMPANIES ACT, 2013 The 1956 Act prescribed minimum 2 directors for a private and 3 for a public company respectively to constitute a Board. This criterion has been retained by the new Act, but the maximum limit of directors on the Board has now been raised from 12 to 15. The Act has also removed the stringent compliance of securing prior Central Government approval for raising the number of directors beyond the prescribed limit nd, instead, a comparatively simpler method of approval by means of a special resolution of the shareholders has been introduced. Additionally, new changes include mandatory presence of independent directors on the Board of listed public companies and minimum one woman director in the case of certain class of companies to be notified later, thereby bringing more transparency and gender equality into the Board rooms. The legislation clearly defines the role of such independent directors and has a detailed Code for independent directors appended to it, which contains explicit guidelines for professional conduct, roles and esponsibilities of such directors. They are bound by this Code to play a role in the appointments, determination of remuneration and removal of executive directors, managers and key managerial personnel. In view of the fiduciary position held by directors, explicit provisions prescribing directors duties have been added to the new Act. These include keeping away from situations in which they have conflicting interest with that of the company, duty to make good in monetary terms any undue gain/advantage on the part of the directors etc. Independent directors: The provision o make companies have one-third of their board members as independent directors is fine in principle. Independent directors (IDs) are also more stringently defined, and their tenures will be limited to two terms adding up to 10 years. IDs can also hold a maximum of 20 directorships. The best thing about the new Companies Act is that it is simple, with greater clarity of intent and purpose. Sounds good? But there are pitfalls. For three reasons. First, how independent can IDs be when they are appointed and paid for by the promoters? Will promoters appoint truly independent people on boards? Second, are there enough persons available to be appointed as IDs? In theory, yes, because there are no qualifications for becoming an ID. But, in practice, once you tell the prospective person the responsibilities he will bear, the actual number of competent and willing IDs diminishes. Most IDs, in fact, end up adorning corporate boards without the time or commitment to work in the interests of shareholders. Third, if eligible IDs end up taking up 20 directorships each, how can they really serve each of those companies shareholders diligently? According to a CNBC TV18 report, AnalJit Singh of Max India, for example, attended only one out of 4 board meeting of Dabur in three years, before he resigned. How did he really help protect Daburs shareholder interests by remaining absent? The conclusion: it is good to have many IDs, but corporate governance will need a heavy dose of regulation too to complete the picture. Women directors: It is important for corporate boards to ensure gender diversity, but before that happens, a supply of women eligible for board positions needs to be created. According to GMI Ratings Women on Boards Survey 2013, even on the worlds best-known companies, women account for only 1 1 ercent 0T total alrectorsnlps. In Inala, a sample 0T BY companies witn more tnan S billion in market valuation, the women percentage is less than 7 percent. And we are talking only about the biggest companies here. Clearly, major efforts will have to be made to create more women directors, but before that there have to be more women reaching the top of the corporate hierarchy. The legislation should act as a spur to womens empowerment, but compliance could be years away. Refrences Company Law, Bangia Company Law, PranJape wmwmanupatra. com www. companylawreporter. com www. caclubindia. com

Thursday, November 21, 2019

Police Corruption, Misconduct, and Brutality Essay

Police Corruption, Misconduct, and Brutality - Essay Example The reason for this is associated with the fact that the nature of police work is a fertile ground for growth of corruption. Walker and Katz (2011) note that, police corruption is as old as policing itself and is not limited to the present day. His argument is supported by Sherman, who argued that police corruption has been in existence as long as have there been the police. Goldstein also cites that corruption is prevalent to policing and that the nature of police work is bound to force police officers to tempting bribes. The first police corruption was reported in 1970s in New York by Knapp Commission, from which two types of corrupt officers were identified. These include the grass-eaters and meat-eaters. It was observed that grass-eaters are very submissive and accepts any kind of bribe offered to them. Meat-eaters, on the other hand, are so aggressive and will always look out for opportunities to exploit for their own financial gains. However, research reveals that most corrupt officers in the US are grass-eaters. Some forms of police corruptions having been reported are those ripping off drug dealers or dealing drugs themselves. Others receive bribes to cover evidence while others have been convicted for covering their own acts of torture, brutality and murder (Dempsey and Forst, 2010). One case involving police corruption is that Joseph Miedzianowski, a former Chicago police officer who has entered the history books as one of the most corrupt corps in America’s history. During his 22 years of work as an officer in Chicago, Miedzianowski was accused of having planted guns and drugs on suspects, brutally tortured them with hot coat hanger and even hit them using lead-knuckled gloves, steeling their drugs, and other possessions. During his trial, he was also accused of fixing criminal cases against his gang members, and secured their release from prisons for sexual rendezvous with girl friends. He was also convicted of having assisted wanted criminal s flee the state, supplied guns, and ammunitions to gang members. The other count leveled against him in court was that he betrayed his workmates by undermining investigations of his gang members and telling them to burglarize the homes of corps’ and steel their guns (Lighty, 2003). Outcome of the case Despite initially denying the charges, Miedzianowski later confessed of having been guilty of the charges and was convicted for 10 counts including conspiracy, drug and racketeering in April 2001. The federal judge then sentenced him to life imprisonment (Lighty, 2003). My position regarding the outcome I agree with the charges handed to Miedzianowski. The reason being, investigations conducted proved beyond the reasonable doubt that the accused was involved in the alleged corruption and misconduct. Therefore, handing him life sentence was the best since it will make other police officers and citizens stop engaging in corruption, knowing very well that if convicted, they may al so be incarcerated for life. Police Misconduct in USA Police misconduct refers to illegal and improper actions on the part of the police officer. Police officers are expected to adhere to ethical principles set to them. In addition, police officers should be role models in showing exemplary behavior to the rest of society. Police officers should understand that they are not above the law; they can be prosecuted when they engage in improper behavior. In most cases, police conduct arises due to abuse of