A Case study on St Xaviers college in India

A Case study on St Xaviers college in IndiaSt. Xaviers college is located in South Bombay or SoBo as its called which has a in truth distinct burnish of its own. Kids come to this college not only from different parts of Mumbai, however India and redden from foreign countries. Each brings with them their own culture that eventually pours into the keep upthing, dynamic culture of Xaviers enriching it.We can deconstruct the culture of Xaviers under the following topics which will eventually lead us to the impact of Xaviers culture.A commonplace thread running through activities at Xaviers is excellence both academic and non academic. Academia at Xaviers follows the state syllabus (before autonomy) and has now expanded to include newer schools of supposition and added research. The existence of the Honours programme which is an extra credit course is a manifestation of the need for something extra. Each department is allowed a week in which to face the fill in back theyve do and sh atomic follow 18 it with the college savants and even students of former(a) colleges. Apart from that each department has a film week dedicated to them where all Xavierites be encourage to att rarity and contri savee. Theyre all for a holistic education. This just means that students, their parents and professors at Xaviers always expect and contribute more than what is stipulated. Every activity/talent at Xaviers is encouraged at some form or an other(a). There are variant clubs for film studies, theatre, photography, the Indian Music Group and even social work with there being a tangible goal every club works to towards the block off, wish a feast of sorts. Perhaps one of the biggest of these events is Malhar, the annual college festival of Xaviers with colleges from all over India participating and some from abroad. This is one of the biggest mixers and icebreakers that Xaviers kids need since each vertical recruits in the beginning of the college year. Xavierit es are a uniform active participants in other college events and more often than not winning accolades and other merit. Students are encouraged to be a part of AISEC and the Mumbai chapter of the MUN. Xavierites play every sport imaginable and the middle school is always buzzing with activity.Every class is allowed a Khadala trip, to the Xaviers villa at Khandala to conduct a seminar. This is significant e fussyly for first year students because this is where they actually contract to populate each other better and rectifytle down as a class picking friends who theyll spend 3 old age with and most often go on friends for life with. Another event is the rural camp which the Social Service League (SSL) organizes.Apart from this they wee exchange programmes with foreign colleges. They in addition expect tie-ups with local anesthetic NGOs where students are expected to undertake 60 hours of voluntary social service as part of their Social Involvement Programme (SIP).PHYSICAL AR TIFACTSOne of the main(prenominal) enduring images of the culture at Xaviers is the building with its Gothic architecture and rough stone walls. Every arch and gargoyle is dear to kids studying there even years by and by they pass out. Shobha De, an alumnus of the college, speaking at the 140th anniversary celebrations said, the very edifice and rock of Xaviers, apart from the memories, is why we hurry back whenever theres an opportunity. To see the lives we celebrated here, our glorious years, the walls now resound with 140 years of stories and whisper it to us when we listen closely.Sitting in a blue-ceilinged, wooden floored school fashion as a fan spins lazily overhead while students intently listen to or discuss in class is what most people rally about the classes.In terms of physical spaces, the foyer, woods (ironically with 2 and a half trees), the arches, library and chapel are places where the kids spend free period or hangout after class. This is where they interact w ith each other, not just people from their class or department. The foyer is a hive of activity and is where most of the take in takes place.Oddly enough, so is Father Terrys room. Father Terence Quadros is perhaps one of the luckiest priests on campus. This on campus counsellor is who most of the women (and some men) on campus turn to to pour their knocker out, sift through their troubles or just take a nap. His office has cushions, rocking chairs, lazy chairs, blankets, medicines, soft toys and a willing ear.BEHAVIOURAL PSYCHOLOGICALTo be very honest, Xavierites have an air about them. Theyre not necessarily snobbish but as Pearl Fernandes, a Third Year Mass Media student, puts it, We feel we have a right to act the way we do because somehow we feel superior. It isnt a superiority complex but were cool like that. People stick by into that if youre from Xaviers that constructs you automatically smart, socially responsible (fill in all superlative adjective).Everything convey s this attitude, from the way they talk to the way they coiffure.Xavierites are distinctly divided into radicals irrespective of what theyre studying. Each grouping dresses and behaves similarly but all-in-all theyre coloured with the same Xaviers brush. You have the Jocks kids who play multiple sports and have a fit, athletic toned body. It doesnt only refer to men but the women also. They usually dress in track pants (or shorts in the morning if theyre playing) and vests. Then you have the cheerleaders. Theyre not really cheerleaders but theyre size is in binary digits i.e. either 1 or 0 and they dress like meansls (actually some even are models). They are characterized by styled hair, manicured hands, a la mode dressing and perfect accessories and make-up. The drama- well-lighted group are people who are part of the drama club and people who write irrespective if theyre taken English lit or not. They usually congregate on the inn steps and tree trunks to sit and discuss a new book, movie or play. They dress in kurtas and jeans and tote jholas. The women prefer having an Indian look about them be it wooden earrings or a thick metal kada with their hair tied in a bun. Then theres the science group whore busy completing journals all through their break trying to stuff their mouths with something before another enormous session of practicals begin. They may or may not be wearing lab coats but in their bags they have all hokum pokum stuff like nichrome wires, vials of goop to test and petri dishes or something. Then there are the medicinal drugians. People who belong to a band either in Xaviers or outside or play an instrument arepart of this group. Theyre easily identified by their guitar or violin cases and in some situations even the odd synthesizer or drum-sticks. Theyre also trailed by their groupies who could also be part of the cheerleaders. These guys sit around the BCR (boys common room) practicing or singing or doing something musical. Then you h ave the Goths and sloths. People whove make crumpled clothes a fashion statement. Theyre fashionably messily dressed, mismatch day is every day and theyre generally socially inclined. Another large group is the behenji group. These are kids (mostly women) who dress simple, oil and part their hair and behave like theyre already 40. Then there are the dope-heads who more often than not also belong to the abovementioned groups (excluding the behenjis whod get a heart attack if accused of such a thing). There are also the dancers who include the cool b boys, rosehip hop, contemporary dancers etc that win every competition and perform at every occasion. They look like theyve just finished shooting for Step Up 2 the streets.Everybody at Xaviers in highly sociable and talk to each other but there are clear cut definitions of who will talk to who. care the dancers would never talk to the behenjis who would never talk to the dope-heads who would be ignored by the cheerleaders etc. like ev ery organization, Xaviers has its own pecking order and politics is rampant.Peer wardrobe has a huge impact on the way people behave at Xaviers. At this age, friends are everything. People wont date someone their friends dont admire of etc.The Holy Trinity i.e. the CP, and 2 VCPs of Malhar are treated like Gods. Theyre the most coveted positions in all the land. Student council be damned, people petition to be elected to the top 3. Its almost like being president and ruler at the same time.One weird custom that Xavierites have is when theyre hanging out in the foyer and a glass bottle breaks they all clap. Shuba, a third year Microbiology Student says, no matter how stupid you look at it is in your head, when the bottle breaks all your snobbishness goes out of the window and you clap just like the rest, grinning all the while. Its fun.VALUES, SCHEMAS MEANINGSXavierites, on campus, are highly disciplined. They have this ingrained discipline bone that doesnt allow them to be tru ly disruptive. Not to say that they dont toe the line or dont rebel when they feel it necessary, they do. But block one of them driving drunk or brawling in the street. It hasnt happened yet. Theres an unwritten code of ethics that no one need tell you. You just feel it when youre initiated as a student.Another sort of common understanding is that no one plays any game in the first quadrangle (1st quad) during college hours. It isnt forbidden by the admin but the kids realize that the first quad is surrounded by classes and it might get disrupted.The kids also have a no littering policy and kids who litter soon collect they have to obey the norm or peer pressure will see that they conform.The kids are also highly intolerant of extremist ideologies or inclinations other than Star Wars and Lord of the Rings and Gossip Girl. They respect peoples opinions but wont have it thrust on them. Which is also why poor little Aditya Thakeray dresss himself friendless and alone after his prot esting debacle.2.Its mission proper is its dedication to research, teaching and the various forms of cultural service, as the indispensable horizon and context for a genuine preservation, surrogate and communication of knowledge and human values, to strive for an intellectual endeavour that focuses on critical and creative thinking, with the find of social transformation.Functional Aspects of St. Xaviers College1. AttendanceSt. Xaviers very particularly follows the 75% attendance rule for each subject as dictated by the Maharashtra board of Education the University of Mumbai. Attendance is strictly taken by the professor in charge at the start/ end of each lecture in order to hold back that no proxy attendance is given. At the end of each month they come up with a black list of attendance defaulters as a warning to those falling short of attendance. And at the end of each semester they come up with a defaulters list which includes the names of students who have defaulted on att endance throughout the semester. Such students are then requested to represent with the principal of the college and are also required to call their parents to college for a meeting with the principal. So strict they are about their attendance that many defaulters of attendance at the 12th Grade in the college are refused admissions to the degree college at St. Xaviers.2. Beyond the Text BookIn line with the research inclination that St. Xaviers possesses, even students are encouraged to seek knowledge beyond what is achieved from the prescribed text books. For this they have in place an Honours Programme- a one of its kind programme which isnt offered by any other college in the city of Mumbai. Here students are encouraged to engage into small scale research studies, do paper presentations, attend seminars and lectures coordinate by the college for which the students are given credits. so this gives the students an opportunity to fit beyond their own specializations as credits across verticals can also qualify the student for the Honours Certificate. Thus St. Xaviers is an organisation that greatly emphasizes vitality and growth3. Cultural ActivitiesSt. Xaviers College, Mumbai has been judged the best college for all round development by many surveys conducted only because of the charge it pays to extra-curricular activities like performing arts literary arts. It also plays hosts at Malhar- the oldest and most popular under graduate college festival where it encourages students from other colleges to participate in the various events that take place during Malhar. The college also gives a platform to students who are interested in theatre to display their talents during the theatre festival -Ithaka. There are many opportunities provided to the students to display their talents both on and off campus. Active encouragement and financial support is provided to the students for the same. Students are provided platforms to display their managerial abilities by organising Malhar, Ithaka Jan Fest- the annual classical music concert held on campus each year. Thus St. Xaviers contrary to popular belief doesnt incline itself only towestern values and art but encourages its students to be stark naked to other cultural and traditional forms of art. They have a strong sense of purpose which is excellence in the fields of academics and beyond.4. Sensitivity to the less fortunate being an ecesis run by Jesuit priests, St. Xaviers has been very actively complex in the upliftment of less fortunate people and others with special needs. They have a number of social societies on campus like the social service league that undertake blood donation drives and visits to old age homes on a frequent nates. This develops a sense of sensitivity among the students to those who arent as blessed as them. In addition to this, St. Xaviers also houses the Xaviers Resource Centre for the Visually Challenged (XRCVC) which provides equipment and other aids for the visually challenged students to learn and make the whole process of learning, reading and writing easier. St. Xaviers College therefore is an institution that believes that world class education is the right of people even with physical handicaps and undertakes efforts to denigrate the discomfort they may experience in a setting where everyone else does not face the problems they do. St. Xaviers College has the Social Involvement Programme (SIP) which is a mandatory prerequisite to be eligible for the Honours Certificate at the end of Degree College. Under this programme students have dedicate a certain number of hours per week working at non profit organisation or undertake any other form of social work and maintain a diary with their learnings from the same. St. Xaviers College therefore makes its students assoil that for all that they are gaining from the society they are liable to give back something to it as well. Thus St. Xaviers tries to emphasize growth not only in e xternally and mentally, but spiritually as well.5. MentorshipThere is an informal mentorship program in place for all students at St. Xaviers. No faculty or admin member is untracked to the students of the college. There is constant guidance given from various people be it spiritual, career guidance or even counselling. Students are constantly made cognizant of newer career opportunities and are encouraged to hone their skills in various fields. They provide guidance not only during the time they are in college but also after they pass out. The areas of discussion are not related just to academics and careers but also move beyond them like relationships and families. Professors behave more like friends rather than teachers. The aim of all round development of the students trickles down to the lowest level of the teaching hierarchy, which is the aim in almost every student- teacher interaction. Thus there is great tolerance for expression which is reason they believe that it is cent ral to all round development of each student.Dysfunctional Aspects of St. Xaviers College1. Lack of transparency at the time of acquireion of volunteers at Malhar.The hierarchy at Malhar is suchPresidentVice President (Conclave)Vice President (Management)Vice President (Events)OCs(Organising committee)OCs(Organising committee)OCs(Organising committee)OGs transcriberOGsOrganiserReservationVolunteersVolunteersAt the presidential and vice presidential level, appointment takes places after the faculty members interview potential candidates. Selection therefore takes place on the basis of merit after considering the achievements and credentials of each candidate. moreover as one moves lower in the hierarchy, selection is up to the discretion of the people just above them. as a result appointment to the OC, OG and volunteer level mostly takes place on the basis of favouritism. Malhar therefore for quite some time has had a bad name for the politics underlying the selection procedure as there are no set rules, guidelines or standards for selection into the various verticals. wherefore sometime students are left pretty confused as they have no reasons as to why they did not get into the departments of their choice. It is a little bewildering for the freshers in the college, especially because there is a lot of ambiguity in the selection procedure and they are not aware about what exactly needs to be done to get into the department of ones choice.2. No hostel for girl students.St. Xaviers College is a very popular college for many aspiring students all over the country. There are many students who do not belong to Mumbai but come from as far as the North East and Kerala. This includes an equal mix of both boys and girls. However they St. Xaviers College does not have provisions for a girls hostel on campus. Even during the days preceding Malhar, when it is absolutely essential to have manpower on campus to ensure the smooth execution of the festival, permission is e asily granted to boys to stay over on the campus, but not for women who are expected to look in the neighborhood outside campus for accommodation. This is done because of some traditional and moral values that the Jesuit priests adhere to religiously. They do not encourage the intermingling of sexes beyond a certain point. And even though it may be troublesome for the girl students at times like these, they are quite unwilling to bend the rules.3. Too much melodic phrase and few natess for coveted specializationsSt. Xaviers College is one of the best colleges for arts and science in the country. However the number of seats available for the most popular and in demand specializations is very few. Therefore there is immense competition and stress in order to get those coveted seats. The level of stress is very high during the second year of Degree College which is the most crucial part of the entire 3 year degree course. Students are expected to be actively involved in the departm ent work, make paper presentations and excel in academics. A minor glitch in any of these areas may cost them a seat in their choice of specialization. Thus the level of stress is very high during this period. It breeds competition among peers and wee-wees and unease which is only placated only after final selection.4. ReservationsSt. Xaviers College being a catholic institution was built for the purpose of serving the minority Christian community. Under provisions made by the central government, educational institutions can agree up to 50% of their seats for minority communities. Therefore St. Xaviers College also applies the same and 50% of the seats are reserved for the Christian community. This is a situation that is preponderating among most other educational institutions in the city. It creates an unfair advantage to those who belong to the particular community. In the same class there can be students who havent done equally well in the same exam and have been admitted beca use of the reservation trunk. The level of achievement and intelligence is not the same among the students. And the same parameters are not placed equally for all students to gain admission to a particular course.3.ACTIONS PLANS 1. Lack of transparency in the selection procedure for Malhara. Formalise a set of rules, procedures and pre- requisites essential in order to qualify for the various positions at Malhar.b. Have an admin/ faculty member preside over each selection procedure after college hours.c. Undertake a training programme to sensitise the students higher up in the Malhar hierarchy to the various nuances and aspects of the selection procedure. This would enlighten them on how to effectively select people who would be an asset to the various verticals.d. Establish a punitive system or a watchdog or some sort of feedback system in place in order to ensure that the set procedures are being followed.e. Conduct orientation sessions for the volunteers on the process of select ion and the people to admission in case the procedures arent being followed.f. However it is essential that the students in the organising committees have some say in the selection procedure. There should always be room for them to use their own intuitions and discretion. Malhar shouldnt become a centrally controlled organisation as it has always been a student run body in the college.2. No hostel for girl students.a. firstly there is a great need to enlighten both faculty and students on the rationale behind the refusal to permit girls to stay long on campus.b. a dialogue must take place between these parties putting forward their concerns and reasons their respective requests and demands.c. the administrations must consider relaxing the rules under special circumstances when it is absolutely essential that the girl students stay on campus. For instance, the days preceding Malhar Jan Fest.d. The college must also have tie ups with various womens hostels in the region and must a ssist female student in acquiring accommodation. When a particular hostel is vouched for by the management of the college, the parents of these students are more likely to find them reliable and will probably not worry about the safety and well being of their children.3. Too much stress and few seats for desired specializationsa. given the rising amount of stress and the consequences faced among students of standard tenth and twelfth, it has become imperative that the college increase the number of seats for the most popular and in demand specializations. No person should be denied a seat in any specialization since it is the question of their careers and marks obtained in an exam are overly shallow a deciding factor in imposing a life changing decision on a particular candidate.b. it is essential to have occasional briefing sessions on the progress of each student during the entire year and let him know his chances of making it to the department of his choice. He/ she should be to ld explicitly of what are the necessary requirements to get the specialization.c. the teachers must be trained to identify signs of stress among the students and must seek professional help (which is available on campus) lest it get worse.d. professors must consider reducing the burden on the students in terms of the number of assignments and paper presentation which the student believe are mandatory to get the specializations of their choice. Rather it would make sense to have an aptitude test and interest tests at the end of the second year of college to seek the people who have the most aptitude and interest in the specific area of study.4. Reservationsa. The college must refrain from having a reservation system in place as it does not create a level playing field for all aspirants into a particular course. If St. Xaviers aims to be a world class educational institution it must aim to seek the best minds in the country, which would only be possible if all the students have the sa me level of aptitude, intelligence and achievement.b. Even if the college finds it absolutely essential to have a reservation system in place, in keeping with the purpose of establishment of the institution, it is necessary for them to make sure that there is a minimum cut off of marks obtained by the student in order to ensure that the best minds who are par with each other are interacting in class. It seems a little unfair when a student with 70% (as a result of the reservation system) is in the same class with the student who has scored 85% and has struggled to barely make it to the course. It would inculcate among the students a belief that hard work is essential when one aims to rub shoulders with the best in the country in a premier institution for humanities and sciences in the country.c. It would also be beneficial if St. Xaviers had an independent aptitude exam that for all aspirants to the various courses in the college. This would reduce any discrepancy if any among peopl e coming from various boards of education and among people applying under different quotas. This creates a level playing field for all aspirants and ensures that the college has selected candidates after putting them through an in house reliable aptitude exam.

Financial liberalisation

Financial liberalisationFinancial Liberalisation refers to deregulation of domestic pecuniary commercialise and liberalisation of the capital account that implies removing the ceiling on affaire rates. When it is in a liberalised system the competition between the different l completioning institutions for the deposits will amplification interest group rates on deposits which will increase the deposits. The accessibility of point of reference will increase and this will cause an increase in practicement harvest. The stages of growth increases activity in the financial markets that go fors the introduction and the development of financial institutions. It is argued that financial institutions, by gathering and evaluating information from borrowers, allow the allocation of funds for investment plans to become more than efficient and therefore encourage growth and investment. relys jump out a role in the process of development. These confides gives the chance for individu als to stick out their savings in the form of deposits, so lowing the need to hold them in the form of illiquid uncreative tangible assets, as this increases liquidity in the economy. Banks could use the deposits to invest such as currency and capital etc. While an individuals need for liquidity body unpredictable, banks, by law of large numbers, face a predictable demand for deposit withdrawals, and this in turn allows banks to invest funds more efficiently. The rate of growth reacts positively to the interest rate but investment reacts negatively to the interest rate. Higher interest rate discourage low return investment, investors will be induced to undertake lavishly return investments, thereby bringing efficiency to investment, which in turn will improve the growth rate to a great extent than that which is possible under financial repression. Interest rate does non affect of saving indirectly but it is instead a role of income.The affinity linking the approachability of credit and investment growth raise be well-nigh interest rates which play a role more in particular, lenders and borrowers. The hypothesis is they can be sure about the brings being repaid. The problem is that borrowers can not guarantee their repayments. With this in mind uncertainty enters into the equation in to the loan repayment so lender take measures in case borrowers plans are unsuccessful and lenders try not to lose their loan capital. So in effect to cover this they use the credit standard in the loan calculation. For borrowers that mean they will bewilder to be able get the credit standard in order to receive a loan.If liberalisation happened and the reason was a rise in interest rate this will increase the deposit and increases in the availability of credit. But a rise in deposit will affect the loan rate by increasing but in relation with the surface of the loan cause increase in the repayment rate. So credit standard is set on size of the loan and when interest rate increases it does not cover the banks loan capital. So if banks would want to be covered by the credit standard they like to have zero credit adventure. To achieve this they would increase the credit standard to make sure that they zero credit take chances. This will mean that borrower would take a large amount or unable to tint the demand they will not be allowed the loan. This means an increase in the availability of credit will not guarantee access to the loan market.When interest rates increases, investors who want to get high returns will be attain less than they paid for and they will lose if they sell. Therefore they do not sell.Investors who invest large amount take advantage of high interest rate these investors have a high credit risk. So the greater flow of credit makes share prices to increase and they higher profits because of the price increase. Since profit from the acquisition and the sale of shares rises, loan capital will be further attracted to the stock m arket, so it increases the stock market activity. This introduces the possibility of attracting a substantial portion of the loan capital to move different parts of the economy in favour of financial assets. This evidently raises a concern about the efficiency gain by means of liberalisation. In this process them return on loans will no long-lasting be linked with the yield from shares rather it will be inter-locked with the return from the expected change in share prices when economic activities are falling. If bad news program spread that will decrease share prices. So investors will not make profit from the change in share prices. Therefore investors will aim it hard to keep their debt in order. This is where a serious problem arises, and that is, if the actual price falls short of the expected price and so borrowers wont be able to keep their word that they gave to banks. In this problem arises because the banks cannot maintain their credit standard requirements for these bo rrowers. In other words, banks have advanced loans which exceed the aggregate note value of the borrowers assets. Thus the core problem lies with banks needing to take high level of credit risk from large loans because of liberalisation.As said before any bad news that will cause banks a lot of problem and this will lead to a financial crisis. Because of this reason the crisis happens since most of loans had high levels of credit risk.The credit coquet is what economist use it means a shortage of funds for lending, which suppress the availability of loans. The credit cranch can happen for several reasons because of a grade rise in interest rates and the government has direct money controls and also funds decreasing in the capital markets.The latest credit jam happened because of a sudden increase in defaults on subprime owes. The realisation labour started in United States and stilltually spread across the world. The mortgage lenders sold haemorrhoid of mortgages to custo mers who have low income and who are first time buyers and have not got a good credit rating these customers are the called subprime borrowers. They thought that house market would boom and mortgages still reasonable but they were lax lending of mortgages to subprime borrowers. The reason they were lax is because mortgage brokers got paid to sell mortgages. These cause for more mortgages to be sold, even though it was expensive and high risk of default. Mortgages companies wanted to make more money on the subprime mortgages and they put the debt into a package and sold it to other companies. This is how it dark globally because of package sub-prime home loans into mortgage-backed securities known as CDOs (collateralised debt obligations). timesonlinea. 24 Feb. 2010. They sold it to hedge funds and investment banks because they thought they would get high returns on it. They well-tried to spread the risk but made the situation worst.The rating agencies gave subprime mortgages a low risk rating but they are actually high risk rating and this got transferred to the lenders. In the balance sheets the risk would not be shown.Many of these mortgages had an introductory period of 1-2 years of very low interest rates. At the end of this period, interest rates increased. mortgagesguideuka, 24 Feb. 2010. So this cause mortgages repayment to become expensive after the introductory period because interest rate increased from inflation. withal Homeowners also faced lower disposable income because of rising health care costs, rising petrol prices and rising food prices. mortgagesguideukb, 24 Feb. 2010. Homeowners found it difficult to hold their houses because it was getting repossess. Many Homeowners were not able to repay the mortgage payments and so this caused an increase in default on their loans. Because of the defaults it was one of the main reasons of the end of admit boom in the US. With housing prices falling this caused further problems with mortgages. For e xample, pot with 100% mortgages now faced negative equity. It also meant that the loans were no longer secured. If people did default, the bank couldnt guarantee to recoup the initial loan. mortgagesguideukc, 24 Feb. 2010.Many US mortgages companies went bust because of the increase in defaults but mortgage lender were not only to suffer as banks lost money in mortgage debt because of the package they got from US mortgage companies. Now Banks had to write off big losses and made them indisposed to lend, mostly in the subprime sector.This was a domino effect and the affect the rest of the world for borrowing money and raising funds. For example, biotech companies rely on high risk investment and are now struggling to get complete funds. mortgagesguideukd, 24 Feb. 2010. Since the borrowing was restricted this also affected the economy with a recession very likely especially in US. But In UK mortgage lender were more controlled in lending than the US. .In the UK many problems occurr ed with Northern Rock who invested in subprime mortgages. Northern rock had a high % of risky loans, but, also had the highest % of loans financed through reselling in the capital markets. When the subprime crisis hit, Northern Rock could no longer raise enough funds in the usual capital market. It was left with a shortfall and eventually had to make the humiliating step to asking the Bank of England for emergency funds. Because the Bank asked for emergency funds, this caused its customers to worry and start to withdraw savings (even though savings werent directly affected). mortgagesguideuke, 24 Feb. 2010. Also another banks HBOS having the same situation. This shows that word and mouth can cause total panic in short amount of time.The events in the US caused the same problems in the UK with mortgages being expensive and the market drying up and with high risk mortgages taken away. This cause house prices to fall and homeowner facing negative equity so they default on loan, which m akes bank lose more money. For example Bradford Bingley was nationalised because it couldnt raise enough finance. The BB had specialised in buy to let loans, which are particularly susceptible to falling house prices. mortgagesguideukf, 24 Feb. 2010.This credit crunch may last for a while because house price in the US as well as UK is still going down which makes mortgage loans under valued. Also interest rates are soaring especially when the homeowner finish their inductor periods. If a recession happens in US it could make more bad loans. It will be hard to get more confidence in the financial markets. In conclusion credit crunch could have been avoided if banks had a tighter restriction on access to loans, especially in the US and making sure no bad news circulates as this make people panic and making the situation worst. As for financial liberalisation it is important to introduce an interest rate ceiling on deposit rates to reduce excessive competition among lending institutio ns for depositors, which may minimize the possibility of financial crisis. BibliographyBooksLecture notesBasu.S. Financial Liberalisation and Intervention A New Analysis of Credit RationingPeter Howells and Keith Bain. (2008) The Economics of Money, Banking and finance A European text Fourth edition, Essex, Pearson limitedWeb PageE. Murat Ucer. Notes on Financial Liberalization, online Available from http//www.econ.chula.ac.th/about/member/sothitorn/liberalization_1.pdf Accessed 24 Feb 2010David Budworth, The credit crunch explained, online Available fromhttp//www.timesonline.co.uk/tol/money/reader_guides/article4530072.ece Accessed 24 Feb 2010Credit crunch explained, online Available http//www.mortgageguideuk.co.uk/blog/debt/credit-crunch-explained/ Accessed 24 Feb 2010John Abbey, The credit crunch explained, online Available http//www.johnabbey.co.uk/wsb4919660101/creditcrunch.html Accessed 24 Feb 2010

The Meaninglessness Of External Causes :: essays research papers

<a href="http//www.geocities.com/vaksam/">Sam Vaknins Psychology, Philosophy, Economics and Foreign Affairs Web SitesSome philosophers verbalise that our life is implicationless because it has a prescribed end. This is a strange assertion is a movie rendered meaningless because of its finiteness? Some things acquire a meaning precisely because they are finite consider academic studies, for instance. It would seem that meaningfulness does not depend upon matters temporary. We all share the belief that we derive meaning from external sources. Something larger than us and outside us bestows meaning upon our lives God, the State, a social institution, an historical cause. Yet, this belief is misplaced and mistaken. If such an external source of meaning were to depend upon us for its definition (hence, for its meaning) how could we derive meaning from it? A cyclical argument ensues. We can never derive meaning from that whose very meaning (or definition) is dependent on us. The define cannot define the definer. To use the defined as part of its own definition (by the vice of its inclusion in the definer) is the very definition of a tautology, the gravest of logical fallacies. On the other hand if such an external source of meaning were NOT dependent on us for its definition or meaning again it would get down been of no use in our quest for meaning and definition. That which is absolutely independent of us is absolutely free of any fundamental interaction with us because such an interaction would inevitably have constituted a part of its definition or meaning. And that, which is devoid of any interaction with us cannot be known to us. We know approximately something by interacting with it. The very exchange of information through the senses - is an interaction. Thus, either we serve as part of the definition or the meaning of an external source or we do not. In the first case, it cannot constitute a part of our own definition or meaning. In the second case, it cannot be known to us and, therefore, cannot be discussed at all. Put differently no meaning can be derived from an external source. Despite the above said, people derive meaning almost completely from external sources. If a sufficient number of questions is asked, we will always reach an external source of meaning. People believe in God and in a divine plan, an order inspired by Him and manifest in both the inanimate and the animate universe.

Conversations of Thought :: Conversating Thinking thoughts Essays

Conversations of ThoughtThere are written and read conversations taking place this very moment. The written conversation is ane that happens among me (ongoing thought- conversation) and what is written onto paper. The read conversation takes place when a person, other than me, picks up what Ive written and reads it. Thought-conversation is going on in my writing to you today on that point are some going on in collegiate assembly halls, and in the conscious minds of many. However, I cannotnor can you at the momentread (make turn over youre not reading this right now---oops, Ive just Onged you) or hear most of these arguments, debates, agreements, disagreements, assertions that carry on. If that is true we are fine for the moment. Granted, one is standing adjacent to and overhearing an English seminar that is discussing and synthesizing the views and works of a range of the most influential modern theorists of the humanities and social sciences. This confined seminar (audience) is expected to interact with, value, debate, and/ or construct opinions for or against a textthus leading some to new thought-conversational thought processes. This, however, excludes the standby-audience member, the reader-listener, as an active participant of the dominant- creatoritative discourse from that seminar. Hence, the authors (the professor) methodology creates a specific, yet unrestrained, aimed-towards them discourse and not for the standby reader-listener. His audience (who says that an audience is his anyway?) will have to later write, chew out and think about texts. This notion does not stand aloneparadoxically speaking of the standby reader-listener who is standing alone and adjacent to the seminar. These standby reader-listeners arent intentionally or even, in this case, fictionally given the right to speak in this confined pre-registered, fore-planned discourse. Likewise, they arent fictionally thought of as potential readers. With this analogy, I fi nd confluence in central arguments made by Ong, Bartholomae and Foucault that are worth mentioning. I am not disputing the rhetoric of these three great thinkers/ readers. I am simply attempting to learn a position of privilege, a position that sets me against a common discourse working self-consciously, critically, against not only the common code but my own (Bartholomae 644). However, for now, I am suggesting that a reader doesnt have to play the role in which the author has cast him (Ong 60), but that there is more to it.

Do Magnet Schools Work? :: essays research papers

Do Magnet Schools Actu altogethery Work?     The 1954 decision by the Supreme Court of the United States in dark-brown v. Board of Education of Topeka, Kansas, represented a turning point in the history of the United States. (144) Reversing the 1896 Plessy v. Ferguson ruling, which said that racially "separate but equal" reality institutions were legal, the solicit held that segregated public schools were "inherently unequal" and denied black children equal protection under the law. It later directed that the state provide desegregated educational facilities "with all deliberate speed." Kansas had been only one of many states that had "separate but equal" schools that were affected by the decision. Although Southern white officials sought to obstruct implementation of the browned decision, many blacks saw the ruling as a sign that the federal government might intervene on their behalf in other racial matters.    &nbs p The court ruled that the schools would have to come up with a solution to the problem of desegregating the schools. Special schools called Magnet Schools were set up. These schools were designed as a desegregation method. in that respect were three methods used in the desegregation of the schools. Black students were bussed out to the suburbs to attend white schools, white children were bussed into the city to attend black schools, or both races were conflate in different schools. There are two types of magnet Durham 2schools. The full site school is where all students in a finical district transfer into the school and are mixed together in the magnet schedule. Partial site programs offer a special magnet program within a non-magnet general school, even though students still transfer into the school to participate in the magnet curriculum. The focus of these schools is to achieve racial parallelism and increase educational quality. (146)      Some of t he problems with magnet schools were that they would siphon off the better students from a school district, leaving all the educationally at-risk students. (147) Most of these students that were left fag end were members of a minority group such as Black or Hispanic. Another problem with magnet schools is that they might already be aimed at halfway class families. This is done to try to avoid desegregation by some parents so their children will not have to go to school with members of a minority.      Removing students from a given school district also removes resources from students most in need from this interaction.

Heartbeat of a City: The Influence of Soccer in Rome :: Free Essays Online

Heartbeat of a City The Influence of Soccer in Rome The number one time I went to Italy the taxi driver that picked my parents and I up at Romes Fiumicino airport had his radio turned to a station compete a Serie A soccer match between two Italian powerhouse teams, AS Roma and Turins Juventus FC. At first I solely assumed the low-level, even sound of the announcers vocalisation was merely a talk radio show, besides as I heard the excitement in his voice build as apiece team became closer to scoring, and the background sounds of the crowds chanting and singing for their teams I began to understand the phenomenon that calico, the Italian word for soccer, was in Italy. Literally the flashgun of a nation whose history has been tumultuous to say the least, soccer has been a mainstay in Italian culture for generations. Known as the worlds most popular sport, professional soccer has helped create and define different groups of people around the world for longer than a century. The hoopla surrounding teams, geographical areas fans dwell in, and political ideals associated with individual clubs have carved an identity for millions of supporters whose heart and soul becomes dedicated to their favorite players, stadiums, and coaches. Soccer teams and their fans can give us a window into how people can be divided and defined by their allegiances and ideals, and why those with similar views band together to create a familiar milieu for themselves. Large questions still remain about the role of soccer in todays world. Why do people in Europe and afield become so dedicated to their teams, over all other cultural factors like politics, clubs, and organizations? How does soccer affect Italian and Roman political allegiances, and how does the commitment of each teams fans affect the Roman urban space, the policies and reactions of the Italian government, and each other? By uncovering and defining the importance of soccer in Rome, I am arguing that Roman soccer fans are not only divided by team colors and name, but also by geography within the city, political allegiances, and social differences. I am also arguing that the importance of soccer represents far more than an interest in a game, but a representation of all that a Roman citizen, as well as the majority of all Europeans, live for and love.

Perceptions of the 18th Century Novel in Ian Watt’s Book, The Rise of T

Perceptions of the eighteenth Century apologue in Ian Watts Book, The Rise of The wiseThe ordinal century novel was one that changed the way novels were written in m whatsoever different ways. In reading Ian Watts book, The Rise of The Novel, quite a a both(prenominal)(prenominal) things were brought to my attention doctoring the eighteenth century novel not only in how it was written and what went into it, but how readers perceived it. This essay will look into Ian Watts perceptions on the eighteenth century novel and how it changed from previous literature. Coming out of the Renaissance and Jacobean ages, the novel was characterized by realism, with the term novel not really world used until the end of the eighteenth century. This realism was not defined homogeneous we would define realism today (defined by Webster as an interest or match for the actual or real), but instead is grounded in the position that truth can be discovered by the individual through his senses. (12 ) Instead of conform to traditional practice (such as the classical and renaissance epic based on history and fables), the novel focused more on the individual where the pursuance of truth is conceived of as a wholly individual matter, logically independent of the tradition of past thought. (13) By rejecting traditional plots the novel distinguished itself out from all other previous form of literature, making individual experience the replacement for collective tradition. Many other things apart from plot were changed for the novel to fully taper this new take on reality. Now the plot was acted out by particular people in particular circumstances (15) rather than, as in the past, by general people against a pre-determined background by appropriate literary convention. The nove... ...hough much of the literature was religious oriented, there was a great billow towards secular reading by the public of which the booksellers became largely responsible as they sought to increase t heir pay. The eighteenth century was definitely a time of large change for literature. Not only had the way of writing been drastically altered, but the amount of reading done by the public altered as well, deliverance about a re sailplanence of reading, not only in the upper classes, but also in the all the classes. Though lacking in somewhat areas, plot not be least, the novel revolutionized the eighteenth century and brought about a new way of thinking. By todays standards, it might not seem exchangeable much was done, but in the history of things, the eighteenth century novel is probably one of the biggest things to ever happen to the progression of literature throughout the years. Perceptions of the 18th Century Novel in Ian Watts Book, The Rise of TPerceptions of the 18th Century Novel in Ian Watts Book, The Rise of The NovelThe eighteenth century novel was one that changed the way novels were written in many different ways. In reading Ian Watts book, The Rise of The Novel, quite a few things were brought to my attention concerning the eighteenth century novel not only in how it was written and what went into it, but how readers perceived it. This essay will look into Ian Watts perceptions on the eighteenth century novel and how it changed from previous literature. Coming out of the Renaissance and Jacobean ages, the novel was characterized by realism, with the term novel not really being used until the end of the eighteenth century. This realism was not defined like we would define realism today (defined by Webster as an interest or concern for the actual or real), but instead is grounded in the position that truth can be discovered by the individual through his senses. (12) Instead of conform to traditional practice (such as the classical and renaissance epic based on history and fables), the novel focused more on the individual where the search of truth is conceived of as a wholly individual matter, logically independent of the tradition of past thought. (13) By rejecting traditional plots the novel distinguished itself out from any other previous form of literature, making individual experience the replacement for collective tradition. Many other things apart from plot were changed for the novel to fully display this new take on reality. Now the plot was acted out by particular people in particular circumstances (15) rather than, as in the past, by general people against a pre-determined background by appropriate literary convention. The nove... ...hough much of the literature was religious oriented, there was a great surge towards secular reading by the public of which the booksellers became largely responsible as they sought to increase their pay. The eighteenth century was definitely a time of great change for literature. Not only had the way of writing been drastically altered, but the amount of reading done by the public altered as well, take about a resurgence of reading, not only in the upper c lasses, but also in the all the classes. Though lacking in some areas, plot not being least, the novel revolutionized the eighteenth century and brought about a new way of thinking. By todays standards, it might not seem like much was done, but in the history of things, the eighteenth century novel is probably one of the biggest things to ever happen to the progression of literature throughout the years.