'Daiwa Case Study Essay\r'

'The exe burn upive vice president of Daiwa’s hot York set- cover transport had traded a commission the fix’s notes wholly over 11 historic period †an extraordinarily want period for such a fraud to run †man using his position as judgment of the peg’s securities work force incision to cover up the injury by merchandiseing saturnine securities haveed by Daiwa and its customers. The trading button was unity of the largest of its mannikin in history. barely it was the get overs by Iguchi over a period of daylights, and then by precedential managers at Daiwa surrounded by July 13 and family 18 1995, when the avering concern in the end describe the loss to the US national moderate Board, that did the real damage. These direct to roughshod indictments against the desire and its locatingrs and, eventually, to integrity of japan’s largest commercial edges organism kicked aside of the US markets. Unlike Barings Ban k, which was swallowed up by kindred misfortunes in venture heed preceding in the same year, Daiwa’s $ two hundred billion of assets and $8 billion of militia meant it was big enough to survive the hit. provided punishment by US regulators and normal humiliation dealt a ample bungle to Daiwa’s re beatation. The grunge set in train a longterm change in strategy as Daiwa reigned in its external ambitions and concentrated on its core businesses in lacquer and southeastward Asia. There were as rise long-term per-\r\nLessons well-educated\r\nG Risk-taking functions must be segregated from record-keeping and insecurity judgment functions. It’s a lesson that’s right cancelled been largely learned in term of segregating traders from the back finishice †tho it has untold wider applications; G Structural problems in gamble prudence don’t put themselves right. Daiwa had well-nigh(prenominal) warning signals close to the way risk management was organised at the vernal York outset, but chose to believe that local management had learned its lesson; G immense fraud can continue for m few(a)(prenominal) days in an environment of promiscuous controls: Iguchi make his apology not because he feared he was about to be caught, but instead when he realised that the built in bed might otherwise carry on indefinitely; G Years afterwards onwards an event, distresss in risk management take a breather a nemesis to the personal finance of senior executives if the executives can be shown to live acted inappropriately. sonal repercussions for Daiwa’s senior managers.\r\nFive years afterward the debacle broke, on 20 September 2000, in a closing that was directly challenged, a japanese butterfly in Osaka told 11 current and spring instrument panel members and top executives from Daiwa to pay the brim $775 meg in damages. The record-breaking laurels, which followed ratified act by shareho lders, was to atone for the management failure of oversight, attempted cover-ups, and the breakdown of risk management in the natural York sleeve that led up to the debacle. exchequer securities as vocalization of Daiwa’s services to its pension transfer fund customers. During the eighties the red-hot York desk became a significant force in the US government debt market and was designated as a primary market dealer in 1986.\r\nWhen Iguchi was promoted to become a trader in 1984, he did not relinquish his back-office duties. all(a) in all, he supervised the securities grasp department at the New York differentiate from approximately 1977 right through to 1995. This privation of segregation, a relatively common cavort of small trading desks in the in advancehand(predicate) 1980s but already a discredited practice by the archaean 1990s, led to Daiwa’s down driblet. Daiwa’s New York discriminate managed the custody of the US treasury bonds that it boug ht, and those that it bought on behalf of its customers, via a sub-custody business relationship held at Bankers religious belief. Through this grade, interest on the bonds was tranquil and dispersed, and bonds were transferred or sold according to the\r\nThe bilgewater\r\nToshihide Iguchi, a Kobe, lacquerborn US citizen who majored in psychological science at Southwest Missouri reconcile University, Springfield, joined Daiwa’s New York branch in 1977. There he learned how to run the small back office of the branch’s securities business. Opened as an office in the 1950s, the Daiwa New York branch began dealing in US wishes of all customers or the brim’s own managers. Daiwa and its customers kept track of what was happening in this account through transaction reports from Bankers blaspheme that flowed through Iguchi, in his role as head of the back office. When Iguchi lost a few hundred guanine dollars too soon on in his trading activities, he was te mpted into selling off bonds in the Bankers Trust sub-custody account to pay off his losses.\r\nThen, in the words of the FBI agents who investigated the case: â€Å"He out of sight his unauthorised sales from the custody account … by falsifying Bankers Trust account statements so that the statements would not indicate that the securities had been sold.” As he lost much money trying to trade his way back into the black, it became hard work keeping alert this parallel series of reports. But fortuitously for him, Daiwa and its intrinsic auditors never independently confirm the custody account statements. Later on, small-arm he served his sentence, Iguchi was asked by Time powder store whether his proterozoic actions felt like a crime.\r\nâ€Å"To me, it was only a violation of internal rules,” he express. â€Å"I think all traders have a tendency to fall into the same trap. You always have a way of recovering the loss. As long as that possibility is ther e, you either get your loss and lose face and your job, or you wait a little †a month or two months, or however long it takes.” In Iguchi’s case it took 11 years, during which time he is said to have forged some 30,000 trading slips, among other documents. When customers sold off securities that Iguchi had, in fact, already sold off on his own behalf, or when customers inevitable to be paid interest on long-gone securities, Iguchi settled their accounts by selling off in time more securities and changing yet more records. Eventually about $377 gazillion of Daiwa’s customers’ securities and about $733 trillion of Daiwa’s own investment securities had been sold off by Iguchi to cover his trading losses. As Iguchi’s apparent success grew †he later said that at one point his desk produced half the New York branch’s nominal profits â€\r\nsubsequent investigating showed that risk control lapses and cover-ups were part of t he culture of Daiwa’s New York act in the 1980s and 1990s’\r\n agree to the charges laid against the margin by US officials, Daiwa had gone so far as to â€Å"temporarily relocate genuine traders … and, when necessary, to disguise the trading room at the business district office as a shop room during [regulatory] examinations”. Following a regulatory rebuff in 1993, the bank had ensure regulators that traders would no longer report to Iguchi duration he occupied his role as head of the securities custody department. In fact, the branch continued to operate without a congruous division of responsibilities. Furthermore, during the 1995 investigation, Iguchi revealed that between 1984 and 1987, other Daiwa traders had suffered major losses; these had apparently been concealed from regulators by shifting the losses to Daiwa’s afield affiliates (FDIC, 1995).\r\nhe became something of a golden male child at Daiwa. But the losses store until by t he early 1990s it was unwieldy for Iguchi to continue to hide them, particularly after 1993 when Daiwa do some limited efforts to break up its trading and back-office functions. Yet he managed to survive for another two years before engineering his own day of reckoning. Iguchi’s survival wasn’t whole down to luck. Subsequent investigation showed that risk control lapses and cover-ups were part of the culture of Daiwa’s New York operation in the 1980s and early 1990s, to a farcical degree. For example, during the 1995 investigation of the Iguchi affair, the bank was also charged with direct an unauthorised trading area for securities between 1986 and 1993.\r\nConfession and cover-up\r\nIn Iguchi’s confessional letters to Daiwa in mid-summer 1999 (he sent a stream of letters and notes to the bank after that initial July 13 letter) the rogue custody officer suggested that his superiors keep the losses mystic until â€Å"appropriate measures” cou ld be taken to calm the placement. It was a suggestion that was taken up. In the period after July 13 and before about September 18, when Daiwa easy talk over the Federal contain Board of the loss, accepted of Daiwa’s managers connived with Iguchi to prevent the losses being discovered, despite a levelheaded need to report misdoings immediately to the US regulators.\r\nFor example, during September 1995, Iguchi was told to pretend to be on pass so that a scheduled fearful 2001 audit would have to be postponed; he was in fact in the New York apartment of a Daiwa manager help to reconstruct the trading history of his department. Daiwa’s managers examinem to have been hoping to transfer the loss to Japan, where it could have been dealt with outside the scrutiny of the US regulators and markets. After Daiwa told regulators about the loss on September 18, Iguchi was taken to a motel and questioned instantaneously by the US Federal power of Investigation.\r\nHe told FBI agents about what had gone on in the months following his initial confession to Daiwa, and the bank was floor to find itself go about a 24- count indictment for conspiracy, fraud, bank exam obstruction, records falsification and failure to weaken federal crimes. Daiwa argued, rightly, that not a exclusive customer of the bank had lost any money. At the time of the incident, Daiwa was one of Japan’s top 10 banks and one of the top 20 banks in the orbit in terms of asset size. kindred some other Nipponese, and some European, banks, it had massive â€Å"hidden profits” on its respite sheet that were not accounted for due to the legitimise historical accounting method that it employed. That gave Daiwa’s management considerable freedom of action if unex-\r\nTimeline of events\r\nJuly 13, 1995 Toshihide Iguchi of the New York branch of Daiwa Bank confesses to superiors that he has lost $1.1 billion over 11 years while trading US Treasury bonds. Au gust 8 Japan’s ministry of finance is informed about the grunge by Daiwa. September 15-18 Daiwa belatedly reports the loss to the US Federal Reserve Board, warning that immediate disclosure of a loss of that magnitude might threat the financial viability of the bank. September 23 Iguchi queryed at a motel by FBI agents who later harbor him. September 26 Iguchi fired by Daiwa and the extent of the bank’s loss make public. October 2 US government order Daiwa to put an end to closely of its trading in the US, having already shocked the bank by indicting it on effective charges.\r\nDecember 1996 Iguchi sentenced to four years in prison and a $2.6 million penalisation ( elegant and restitution payments). End January 1996 Daiwa agrees to sell well-nigh of its assets and offices in the US. February 1996 Daiwa agrees to pay a $340 million fine to avoid further legal battles over its institutional role in the Iguchi affair †one of the largest ever fines in a crimin al case in the US. 20 September 2000 Osaka court says some current and some former shape up members and executives from the bank must pay the bank $775 million as restitution to shareholders. The lineup members and executives immediately appeal against the decision.\r\nOne of the bank’s crisis management actions after Iguchi confessed was to center back into the defrauded account securities equivalent to those that their New York head of custody had sold off. But the US regulators were deeply unhappy at the attempted coverup, and at the way Daiwa had seemed to contract regulatory warnings over a scrap of years. They were also unhappy that at to the lowest degree one senior member of Japan’s ministry of finance k sore about the Daiwa scandal in early August and had not informed his US regulatory counterpart. This pushed the Daiwa scandal onto the worldwide political stage and led to a telephone conversation in which Japan’s finance minister, Masayoshi Take mura, was induce to make apologetic noises to US Treasury secretary glomert Rubin for his staff’s failure to pass on the information.\r\n(The call was made only after Takemura had annoyed US officials by denying at an earlier extract conference that his ministry had failed in its duties; his aides later denied that any formal apology had been made to Rubin.) At a time when the Nipponese banking system was already showing signs of get to from the slowing Japanese economy and deteriorating asset quality, many international regulators took the Daiwa scandal and its wake as a sign of the go on lack of openness in Japanese banks and the Japanese financial system. Meanwhile, Daiwa faced more immediate problems. In November 1995, the Federal Reserve arranged it to end all of its US operations August 2001 within 90 days.\r\nBy January 1996, Daiwa had agree to sell most of its assets in the US, totalling some $3.3 billion, to Sumitomo Bank and to sell off 15 US offices. (Indee d, for some time after the debacle, Daiwa was rumoured to be on the verge of merging with Sumitomo.) In February 1996, Daiwa agreed to pay a $340 million fine †a record amount for a criminal case in the US †as a way of egg laying to rest the charges that US authorities had brought against it. each(prenominal) in all, it endured some of the stiffest punishments ever meted out to a foreign bank operate in the US. By this point, senior figures at the bank had resigned or indicated they would take early retirement.\r\nTop management said it would cut its own pay for six months and throw in the towel bonuses as a sign of contrition. Iguchi’s nightmare was now dissipating. In October 1995, he had reached an agreement with his US prosecutors and admitted misapplication of bank funds, false entries in bankbooks and records, money wash and conspiracy. Iguchi told the judge at early hearings that by the time he confessed: â€Å"After 11 years of fruitless efforts to recov er losses, my livelihood was simply filled with guilt, fear and deception.” He said he sent the confession letter because he couldn’t see that anyone other than himself was apt(predicate) to bring the situation to an end. In December 1996, he was sentenced in New York to four years in prison and a $2.6 million penalty that he had little chance of paying. The cover-up also led to one of Iguchi’s managers being sent to prison for a number of months and fined a few thousand dollars.\r\nThe Aftermath\r\nAs this account makes clear, Daiwa’s 1995 debacle resulted in huge losses; a criminal charge against the bank; Daiwa’s forced exit from US markets; general reputational damage to Japanese banks and regulators; senior resignations at Daiwa; and a diplomatic tiff between the US and Japan. In the average term, the scandal led indirectly to streamer & Poor’s downgrading Daiwa’s credit rating from A†to BBB, and to Japan’s mi nistry of finance imposing certain restrictions on the bank’s activities for a year or so. It also temporarily threatened the credibility of its profitable religion business. In the longer term, the scandal compel Daiwa’s management to refocus the bank on its traditional retail and depose banking units. By 1998, this refocus †and the general inquietude in Japanese banking †led Daiwa to prefigure that it would close down many of its international offices to concentrate on its role as a super-regional bank in Southeast Asia, with a specific focus on the Osaka region.\r\nBank executives at the time of the scandal in 1995 found that it dogged them into the new millennium. On 20 September 2000, the BBC reported that a Japanese court had ordered 11 current and former board members and executives from the bank to pay the bank $775 million in damages, much of it awarded against the president of Daiwa’s New York branch during the Iguchi period. Judge Mitsuh iro Ikeda made it clear that the award was compensation to the bank’s shareholders for the fact that â€Å"the risk management mechanism at the [New York] branch was efficaciously not functioning”, as well as for management’s failure to report the incident promptly, and failures in oversight.\r\nsome(a) commentators were surprised by the size of the recordbreaking award, however, and the executives immediately appealed against the decision and filed pleas with the court to suspend any seizure of their assets. Whether or not the award stands, many commentators at the time said that it marked a broader change in attitudes about executive and board responsibility. In Japan, as in most genuine economies, it is becoming more and more likely that senior management in charge of a bank or jackpot at the time of a fortuity will be held personally accountable. I This case study was written by Rob Jameson, ERisk\r\nWeb Resources\r\nAsiaWeek, â€Å"Japan’s $1-Bi llion Scam”, October 27, 1995 BBC News, â€Å"Bank Bosses\r\nPay $775m shammer Charge”, 20 September, 2000 Electric justice Library, Criminal Complaint and Indictment Against Daiwa Bank, 11/95 FDIC press release: Regulators hold back the US operations of Daiwa Bank, Ltd, Japan, PR-67-95, November 11, 1995 Time magazine, â€Å"A Blown Billion”, October 9, 1995 Time magazine, â€Å"I Didn’t Set Out to Rob a Bank”, short interview with Iguchi, February 1997\r\n'

'Leadership literature Essay\r'

'I bum di up to now my personalised command philosophy into four impressions…no catch phrases or buzz deli precise…just simple principles[a1] . First, a air force baronr deals to shut up [a2] and permit their [a3] phratry do their job as such(prenominal) as possible. Second, a commandant moldiness send awayly belowstand what the [a4] individuals and boldness acquit from them. Third, a commanding officer must wee-wee their own reality. Finally, a commanding officer must be genuine. Before explaining, I should probably qualify that what I’m[a5] active to prescribe is a product of my falsify set of experiences. It is in no behavior meant to be derisive or satirical…it’s just what I realize to be true.\r\nSurely everyone is familiar with the design that a well-executed, mediocre externalise is much better than a poorly-executed perfect plan. This [a6] is the crux of the matter of empowering people. Countless magazines[a7] I have discover people discussing unalike approaches to a difficulty often pitting attractors against workers on how to skin the cat. Unfortunately, the leader usually weighs in with the final say even overruling crush matter experts. [a8] This leaves the subordinates to swallow the â€Å"front office” resolvent and try to make it work.\r\nOf track down [a9] most employees be good followers and they make it happen according to plan nevertheless there are some(prenominal) drawbacks of the top-down approach. [a10] First, it sight start out time for people to buy into a solution they played no part in conceiving. Second, it rump stifle solutions from the experts in the future.\r\nThird, it pulls the leader further into the weeds as stress is necessary to verify and vector progress[a11] . why is this so hard to achieve in practice? Perhaps it is personality driven, or perhaps it is instilled by senior mentors, but for [a12] some reason most leaders seem to la ck the mental or moral aptitude to let folks press with solutions they deem â€Å"inferior.” Why not ask, â€Å"What do you think we should do?” and soften that solution your full support. Folks testament take immediate ownership and you’ll be floored [a13] by the issuances.\r\nLeadership books is filled with cursory calls for the leader to leave their [a14] visual modality, goals and expectation. Honestly, this somewhat of a cop out[a15] . Of pipeline a leader exigencys to take an musical arrangement in [a16] a clear direction, but [a17] that direction has everything to do with context. It is altogether absurd to create a vision or organizational climate that fosters fortune taking [a18] at a thermonuclear base or rapid unknowledgeable conclusions in an engineering design flight.\r\nLikewise, it is equally ridiculous to roll into a squadron move to pump [a19] everyone up following a air force officer that rode them all into the ground durin g an ORI[a20] . A wise commander would take a moment to figure out, â€Å"What does this unit consider from me?” Do they need a moralist to check rampant DUIs? Do they need a personable/approachable commander to get them through a youthful suicide? Perhaps they just need some top cover from the base or wing so they can get their jobs done. Of course this pass on pull up stakes during a commander’s advance as events occur and the personality [a21] of the organization changes; the key to know what your folks expect of you. [a22]\r\nWe’ve heard the anecdotes contrasting the impact different commanders have on the same organization, â€Å"under col Smith my unit blessed [a23] and effective but after Col Jones took command, we were miserable and unproductive.” This is a good congressman of how commanders create their own reality. Commander and supervisors who regret over their long hours, stressful environs and massive workload cannot improve their toast until they realize that they create this reality.\r\nTypically this manic environment is the result of a compounding of poor organizational skills, micromanagement, lack of determination making and insufficient triage. Conversely, the alternate founding that a commander should seek to create is one where folks understand what’s important, are trusted to work those priorities and insulated from distractions. Likewise, the commander needs to be competent plenteous to know when to make a decision and when to shut up. It all sounds simple, but in practice, creating this reality can be very difficult especially if there are strong type-A personalities within the unit or in the chain of command.\r\nThe final concept and one that a commander has the least control over is sincerity. One can do all the right things and say all the right things [a24] but still be ineffective if they are not true to themselves. If a commander isn’t passionate about what th ey [a25] are [a26] doing, doesn’t care about their[a27] unit, or doesn’t respect their [a28] boss, no sum total of work stoppage dancing or rhetoric will mask it. This can be the result of apathy, narcissism or any trope of other traits but it always shines through.\r\nLikewise, if a soft-spoken introvert wants to become a cheer-leading, fist-pumping commander, it will fall short. Some amount of self-centeredness can be extenuate through education, self-reflection and mentoring but only to an extent. Similarly, changing personal techniques or leadership styles to correspond a specific situation can compensate for some personality traits. The understructure line is that I would much alternatively work for a commander that was an uncharismatic, wrinkled blob who truly cared over the ‘GQ[a29] ,’ smooth-talking swellhead irrespective of how competent, ethical or assured they were.\r\nYou might be thinking, â€Å"wait a minute, this guy is forge tting all the important embrace like core values, standards and discipline.” Well, yes, I did…I only have three pages and so accept these â€Å"bumper stickers” as given. Will I expect service, integrity and excellence? dead! Do I plan to express safety, accountability and ethics? No question! I’m a armament professionalâ€anything less would be unacceptable. It is very these fuzzy principles (and others like them) that distinguish the vision-puking, smooth-talking zombie spirit from an effective commander and leader in my book[a30] .\r\n'

'Is Gambling a Social Problem Essay\r'

'Gambling is an act of contend for stakes in the hope of winning. It withal involves a strong risk as the material good (usually m whizzy) wagered in the spunky whitethorn be lost if the impostor does not win. Common forms of gaming embarrass cockfighting (which usually results in the death of ane or twain roosters), casinos (which has become a profitable business), slot machines (convenient for those who want to animate individually), bookmaking (often procedured for predicting the winners of sports competitions), and caracruz (simplest form of sport which has equaled since antique history).\r\nThere is an ongoing look at among genial scientists, psychologists, business lobby groups, and former(a)s on the benefits and dangers of swordplay. much(prenominal) or less anti- drama societal activists delibe rank that gambol is a in effect(p) societal fuss, date some some opposites argue that frolic worry is a trouble of certain individuals who lose from p sychological ills and that in certain circumstances turn on the contrary is a signifi kindlet author of income (for example, for native-born the Statesn tribes). Gambling Is a amicable Problem ?Gambling is associated with a range of cordial secretes and thus take to be designated as a hearty fuss.\r\n fit in to research on the proposition, at that place is a correlation between heterogeneous social tasks and looseness. For example, Hardoon et al. , point forbidden in their say that dramatic play problem among adolescents they examine stemmed from the lack of healthy familial and peer support, drug use problems, behavioral problems, problems related to family issues, and the pargonntal manoeuvre problems as well as their amount of money ill-use. According to Hardoon et al. , in that location is a significant familial contribution to gambling problems.\r\nRead much: Essays on Social Issues\r\nM some(prenominal) of their respondents verbalize that their elder siblings had a strong forge in their decisions to experience gambling. Many of the respondents who suffered from gambling problems said that their p bents themselves were problem gamblers. The study by Hardoon et al. , also points out that children of problem gamblers suffered from danger and a sense of â€Å"pervasive injury” (170). They also argue that gambling problem among parents leads to unlike kinds of familial dysfunctioning, including drug addiction, ingest problems, and delinquency. Hardoon et al. , also point out that in that respect is a connection between gambling and substance use.\r\nâ€Å"Compared to nongamblers,” they write, â€Å"adolescent gamblers are much liable(predicate) to drink intoxicant, smoke tobacco, and use drugs” (171). Gamblers are three measure to a greater finale likely to use drugs than non-gamblers. Gambling and substance use problems among adolescents often leads to delinquency and misbranded behavior. Adolescents suffering from serious gambling problems are also likely to experience obstacle in school such as decreased academic performance and light grades.\r\nMore than half of the problem gamblers Hardoon et al. , analyse suffered from conduct problems as well. They were more likely to break rules, get into troubles with individuals in authority, often display oppositional behavior, and join anti-social activities (171). This study in world-wide demonstrates that the gambling problem is sectionalization of larger social issues and there is a clear correlation between gambling and various social problems.\r\nAnother study on the impact of gambling on college students suggests that about 1. 6% of the U. S. dult population meets the diagnostic criteria for pathological gambling (Level 1), and 3,85% reportedly suffer from subclinical (Level 2) gambling problems. Among college students, the rate of gambling problem on both levels is doubly as high as it is among the general adult popul ation. There are significant social and health-related problems associated with adolescent gambling problems. Adolescents and childlike adults addicted to gambling suffer from serious stress-related problems. Many of them attempt and even incur sex suicides. Among these adolescents and one-year-old adults, the rate of disorderly familial relationships is much high.\r\nThere is a higher rate of comorbidity with other addictive disorders, and there are more frequent instances among these adolescents and young adults of arrests and convictions. The study concludes that â€Å"social normsâ€based social marketing campaigns (emphasizing accurate descriptive norms for alcohol) to successfully reduce alcohol use on campus” postulate to be reworked and applied for combating gambling problems among college students (Larimer & Neighbors 241-242). This is another testament to the item that gambling is a social problem and that the way to reduce it is to employ tools which are used for combating other social problems. enlightening in this case is the experience of native-born American tribes in the coupled States.\r\nWith the outlet of the Indian Gaming Regulatory chip (IGRA) in 1988, which mandated legislative basis for managing and regulation Indian gaming, the number of casinos has sharply come up in Native American communities. As a result of this, one study of this phenomenon points out, Native Americans â€Å"are four to hexad times more likely to be pathological gamblers and two to five times more likely to be problem gamblers than non-Indians” (Momper 139).\r\nThe study also cites poerty, unemployment, and historical outrage as factors that contribute to the development of gambling problems among indigenous groups. According to this study, there is a similar correlation between the make of luxuriant gambling and predisposition to other social and behavioral problems such as alcoholism, drug use, and disruptive behavior among Native American groupsâ€but in significantly higher numbers than it is among non-Indians in the joined States.\r\nGambling is Not a Social Problem ?While it is true that gambling addiction, hardly like any other addictive behaviors such as alcohol addiction or drug addiction, is a social problem, gambling itself is not a social problem. Participants of gambling make sensible decisions and they have the freedom to stop the physical exercise whenever they think it is detrimental to their financial, psychological, and social conditions.\r\nFor example, in the year 1999 the National Gambling adjoin Study Commission surveyed the U. S. opulation and found out that 86% of Americans had gambled some time in their lives, and that 68% gambled in 1999 alone (Seligman 86). push through of this large segment of the population who on a regular basis gamble, only a tiny region of the population suffers from serious gambling problems. ?Discussions over the use of gambling are sometimes controversial because it is one of the businesses in America which has a bad reputation, on the one hand, and is so popular that more and more Americans are demanding gambling opportunities, on the other.\r\n collectible to its popularity, gambling has been legalized in all states draw Hawaii, Tennessee, and Utah. Residents of these states also gamble, by traveling to other states or by taking proceeds of online gambling opportunities. Total wagering in the Unites States is rough $900 billion a year (constituting 10% of personal income), and the lion’s distribute of wagering takes place in casinos ($600 billion). And casinos now exist in twenty nine states. that these are official figures and unofficially the extent of gambling among Americans is likely to be much higher (Seligman 87). Gambling in the United States is a legitimate form of business, and designating it a social problem would necessitate that we chase other legitimate forms of business as social problems a s well.\r\nAs Seligman points out, â€Å" protect Street offers plenty of bets with risk/ avenge opportunities that mirror those of slot machinesâ€a keen-sighted shot with occasional huge payout. acquire out-of-the-money puts on an airline stock just before a union balloting would fall in that category. If the members unexpectedly vote against wage concessions, you could make a killing on the bankruptcy” (Seligman 89).\r\nSome critics of gambling who criticize it from an economic perspective, say that, while gambling consumes time, energy, and resources, it does not produce any real output. But that argument can be used against most kinds of financial transactions and speculating, both of which are acceptable, and in today’s world, necessary components of planetary financing. As for the charge that problem gambling leads to comorbidity with other social problems such as alcohol abuse and drug use, more research is required to determine the nuances of this conn ection.\r\nDoes excessive gambling lead to alcohol abuse or is it the way around? If it is the former, thusly it is the problem of gambling addiction which needs to be labeled a social problem and remedied. If it is the latter, then it is the problem of alcoholism rather than gambling because alcohol abusers have more than one way of ruing their lives (gambling is not their only option), and even here the issue is the abusive consumption of alcohol, not alcohol consumption in general. Those who see gambling as a social problem ignore the fact that gambling mayâ€and in many cases it doesâ€lead to corroborative social outcomes.\r\nThis is generally the case in the Indian reservations in the U. S. As Momper points out, an IGRA public life which aimed at encouraging gambling on reservations for the purpose of raising the standards of active on the poorest reservations â€Å"was the only federal policy that produced persistent effects for tribes, inasmuch as the unemployment rate (38 part) on 214 reservations with casinos decreased by 13 percent from 1989 to 1995. Even if one takes into account the join on in the number of problem gamblers, other social and economic gains from casinos on reservations greatly outweighed the negative consequences of this business. In addition to creating jobs, casinos on reservations provided the American Indian community with various social services and strengthened their social bonds (Momper 142; Cornell et al. , 1998).\r\nWhile it is true that gambling addiction as increased among American Indian residents as a result of building casinos, in many instances improvements in standards of living took many of them out of poverty, decreasing the rate of behavioral problems and anti-social activities. ?In summary, both proponents of gambling-is-a-social-problem thesis and their opponents have strong arguments at hand. The debate is likely to continue without being determined as it is a controversial topic and gambling am ong the U. S. population leads to mixed results: both positive and negative.\r\n'

'Letter from Birmingham, Martin Luther King Jr.\r'

'Just Arguments in the Battle against segregation â€Å"If I have said anything in this earn that overstates the truth and indicates an unreasonable impatience, I beg you to clear me. If I have said anything that understates the truth and indicates my having patience, I beg God to forgive me” ( index 301). Martin Luther might younger writes an argumentative letter defending demonstrations against segregation. charm parcel eight days in prison for fighting(a) in protests in Birmingham, ability writes his famous â€Å" garner from Birmingham Jail” (293). tabby is effective at arguing his lesson because he provides counter arguments, gives many examples of real breeding situations, and reflects on statements made. powerfulness begins by providing background and explaining the veritable purpose of non-violent direct-action demonstrations. In the letter, world-beater refutes the arguments made by clergy, which were untimely action, breaking lawfulnesss, direct -actions precipitate violence, extremist, and commended law of nature. King explains that he traveled to Birmingham to participate in non-violent protest against segregation, stating â€Å" blemish anywhere is a threat to justice everywhere” (289).King responds to the clergy by saying, â€Å"your statement… fails to express a alike concern for the conditions that brought about the demonstrations” (289). King continues by explaining the quartette basic step of non-violent direct-action, which are: â€Å"collection of the facts to acquire whether injustices exist; negotiation; self purification; and direct-action” (290). While providing great detail on the situation and steps taken, King continues to build his argument against the statements made by the clergy. The first statement was that the action taken in Birmingham was untimely.In the letter, King provides great details about the preparedness and execution of the demonstration, which shows that mu ch thought was placed on the timing of the protest and explained that it was, in fact, not untimely. King uses a very effective method to kindle personal feelings by writing a desire list of heart-throbbing experiences of Negro people during segregation (289-292). Next, King refutes the second statement that demonstrators break laws. King explains that â€Å" on that point in time are two types of laws: just and unjust” (293). King’s reflecting help the reader understand his arguments (293-294).The trey statement from the clergy says the direct-actions precipitate violence. King states he does not advocate breaking the law. However, â€Å"[King] submit[s] that an individual who breaks a law that conscience tells him is unjust, and who willingly accepts the penalty of imprisonment in order to arouse the conscience of the community over its injustice, is in reality expressing the highest respect for law” (294). The quartern statement is condemning the actions in Birmingham as extreme. King counters by providing examples where extreme measures were taking to right an injustice, such as with Abe Lincoln and freeing the slaves (296-297).Finally, King addresses how the clergy commended the patrol force for keeping order. King responds with examples during the demonstrations in which the police acted inhumane (300-301). By providing considered and well formulated arguments, King is effective at arguing his case against segregation. King addresses any possible counter arguments on his situation and does so in great detail. By reflecting on statements made, King allows the reader to fully understand his arguments and point of view. The â€Å"Letter from Birmingham Jail” is an excellently structured argumentative letter against segregation.\r\n'

'Importance of Metals\r'

'A metal is defined as an opaque shiny element which possesses properties such as malleability and ductility. Malleable meaning that they can be hammered into shapes and ductile meaning they can be drawn into wires. They argon also very loaded and posses gamy tensile strength and be inviolable conductors of heat and electricity. Metals are shiny, and also have high densities. Metals are a very important and square part of chemistry. However, their importance is not just extra to chemistry; they are also utilise in our passing(a) lives.We may not realize this entirely without metals; we would not be able to continue with our daily routines as metals play an important role. Metals are utilize in the making of household conveniences same ovens, dishes, cutlery etc. they are also used in transportation such as cars, buses, trucks, trains. Computers and electronic devices are also made up of metals. galvanising power production and distribution, even close to of the formu lation is made out of steel which is an alloy; a premix of metals such as iron and carbon.And it is because of the special properties of metals, which allow them to be used in the making of such objects. Although we see metals almost everywhere we go, metals are not found easily. In fact, most of the metals are present in the country’s impertinence but when found in the earth these are often mixed with other substances. The rocks in the earth’s crust are a mixture of substances, these rocks from which a metal can be extracted from is cognize as an ore. The method used to extract metals from ores depends on the responsiveness of that metal.Some un reactive metals can even be found in the native accede, like gold. On the other hand, most metals are too reactive to exist on their own like aluminium, which has to be extracted using a method called electrolysis. And some sensibly reactive metals that are in the middle of the reactivity series can be extracted using decrease of oxides like iron. Gold is not found in a mixture or combined state but is also quite rare. Gold is extracted by mining.Gold is a very demanding and expensive metal, the 2nd most expensive after platinum. The metal aluminium is extracted from its superstar aluminium oxide which is also known as bauxite which is principally aluminium oxide (Al2O3)It is also the most abundant metal in the earth’s crust but is never found separately, only in its bauxite. aluminum being a reactive metal has to be extracted using electrolysis. The process of electrolysis requires massive amount of naught and therefore making aluminium expensive to produce.\r\n'

'Ancient greek architecture\r'

'The existence of the temple was measured over 350 by unmatched hundred viiiy feet [ nearly 110 by 55 meters] in surface; probably maven of the largest temples strengthened in the quaint times. tabernacle of Artemisia was built virtually 323 BC in Usu comp allowelyy, Turkey. The city was once called Ephesus. The whole temple was built as a dedication to the Hellenic divinitydess Artemisia. When discussing about Greek Architecture, the closely distinctive element is the uncorrupted orders. Columns in Ancient Greek period were hold externally and internally.Nowadays, Orders argon still employ in sh atomic number 18d public baffles such as churches, universities, dally grammatical structures, museums, etc. Other elements such as: makes on platform, peripheral columns, pediment, be equally important in Greek Style. prototypal church service of Christ, Scientist Pasadena is located at 80 Oakland Street, Pasadena CA 91101. It is considered as one of the historic chu rch structures in Pasadena. The construction of the build started in the year of 1907 and finished in 1909. The fascinating mental synthesis was forgeed by architects Marathons and Van Pelt.When starting line church building of Christ had Just finished with the construction, it was the largest and greatest building in Pasadena. The Building was equipped with fireproof substantials ND do earthquake resistant. The 100-year-old building is very momentous as it is part of the Pasadena Playhouse Historic district, a non-profit organization designed to preserve Pasadena historical and in like manner buildings with advanced architecture. The starting signal church service of Christ Scientist is likewise similar to temple of Artemisia in many an(prenominal) ways. lowly, the garret colonnades that characterize a typical Greek Architecture. sextette bonce columns border the entrance door of First church of Christ. The two scrolls on the capital of the columns really suggest Ionic Columns of temple of Artemisia. Moreover the First church service of Christ scientist imitates the look of pediment (triangular-shaped roof) of Temple of Artemisia. The two pediments are peaked cap pediments, in which the pediment forms a meliorate triangular shaped and does non have broken in tip. Additionally, The pediment of Temple of Artemisia is highly adorned with sculptures, whereas the pediment of The First church service of Christ Scientist is plain.The First perform of Christ Scientist is freestanding, with columns hardly on the front side. The building itself stands on conduct of a high platform and has only one staircase eating to the entrance. This is assorted from Temple of Artemisia, which has stairs on every side, and has ionic columns trail all around the building. Dentals are non very enlarge in the untreatable of First Church of Christ Scientist; hostile the untreatable of Temple of Artemisia with its complex and detailed decorations.The pedime nt of Temple of Artemisia is decorated with a sculpture, which pictures great military in Ephesus. In terms of function, both Temple of Artemisia and the First Church of Christ Scientist hold the same purpose, which is sacred place to worship and pray. Temple of Artemisia was dedicated for the Greek Goddess Artemisia and is a place where people do rituals and pray to Goddess Artemisia. bit First Church of Christ Scientist functions as a Christian Church, specifically for the practice of Christian comprehension; where people gather together every sunshine to pray to Jesus Christ.Additionally, if were talking about the textiles used for the construction process, The two buildings use different materials and apply different construction method. Temple of Artemisia was fully do out of stain, a strong, very precious match that is high in maintenance debar little durable. At that time of construction, Marble was probably the most efficient and advanced material for the construct ion of the temple. concrete was not invented by then. Workers had to drag white marble stones and carve it into sculptures manually. It took almost 12 decades to build the temple.While everything was do manually at the time Temple of Artemisia was constructed, the First Church of Christ Scientist was built in a more advance way. Concrete, the strongest and most durable material was already invented and spread across America. The First Church of Christ Scientist was built in concrete and particoloured in white. These days, with the help of technology such as: laser virgule, laser paint, bulldozer, etc, the construction can be done faster. The construction process was done in two years time. The Journey from Temple of Artemisia to the First Church of Christ Scientist takes almost 20 centuries.The First Church of Christ Scientist has the combination and mixture of new(prenominal) styles as well. Dome structure lies at the tolerate of the main building, consisting some elements of Roman architecture as it imitates the Pantheon of Rome. The next building would be embassador auditorium, a small auditorium built by the Worldwide Church of God to be used as one of its branch. It is located at 131 S SST John Eve, Pasadena (CA 91105). The building is famous for its magnificent and unique design and is often called by its nickname ” The Carnegie Hall of the West”. embassador auditorium does not only function for center of worship but also functions as a concert dorm for various kind of public performances. From soloist to small ensemble, all the same symphony concerts have taken place in ambassador auditorium. The capacity of the hall is approximately for 1262 people. The simple, to date sophisticated design of the building is the work of an architectural rim in Los Angels, with the supervisions of Daniel, Mann, Johnson and Maidenhead. They chose the building to be minimalist style as it is efficient and cost friendly.The construction process was c arried out by the William Simpson Construction attach to of Los Angels. It took 12 years to design the concept and 2 years to finish the construction. The upcountry designer is Robert Smith. The Ambassador Auditorium was officially opened on April 7, 1974. When observing the design of Ambassador Auditorium, there are a fewer elements of the building that are taken from Ancient Greek Architecture. The most distinctive element is peripheral columns running around the rectangular-shaped building.Each column of Ambassador Auditorium is 72 arse in height, with 8 flutes on each shaft. Six identical columns lies on the front and backside, and nine columns lies on left and right sides. This is similar to the arrangement of colonnades in Temple of Artemisia. The temple has two series of eight Ionic colonnades each for the front and back of the building, era the sides were supported by two rows of seventeen (Ionic) columns each. twain buildings are surrounded by colonnades, regardless o f the sensing. scorn the similarities, there are also so many elements that differentiate them.Firstly, materials used for the construction of Ambassador Auditorium are different than Temple of Artemisia because most part of Ambassador Auditorium is covered in glass. Glass was chosen to let more lights to enter the building, because light is very crucial for Christian church. In Christianity, Light is often associated with God and holiness. Ambassador Auditorium was initially built for worship purpose, whence the building is covered mainly by glass. Whereas for Temple of Artemisia, white marble s the main material for the construction.The whole temple was entirely marble except for its tile covered wooden roof. There was but any glass in the building, because glass were not so popular in the past, probably because they were not very strong. Due to development of technology, glass is presently made thicker and heavier; therefore stronger. The columns of Ambassador auditorium is certainly different from Ancient Greek columns, but they are equally unique and beautiful. The shape and the design of the column are not exactly the same as those of Temple of Artemisia, as they are not auricular and do not have decorations on the capital.The exterior columns of Ambassador Auditorium are very slender, with no decoration on its capital and have less flutes on the shafts. The building combines many geometrical shapes such as square, rectangle, triangle, and lines; to stress the minimalist style. The exterior design of the building is and so undeniably beautiful with all the simple elements around it. There is a beautiful little water system fountain in front of one of the entrance, adding the aesthetic element to the building. Furthermore, the walkway leading to the entrance is made UT of green granite, that is said to be cut and polished in Overeager, Italy.Ambassador Auditorium is truly a maiden facility despite its simplicity. If you think the exterior is asto unding, the interior of Ambassador auditorium is equally enchanting and sophisticated. The inside of the building is decorated with classical style, making it more elegant. The auditoriums main door is covered in bronze. The main hall of the building is decorated with 1390 piece bronze and a huge watch crystal chandelier in its lobby. staircase railing is made out of rare African DOD, called Shaded; ornamented underneath with gold leaves.Moreover, the ground is covered with a wool-made purple carpet- indeed an ideal match for the crystal hanging overhead. The Huge crystal chandelier, the beautifully carven ceilings, and the fully polished stair railings altogether bring on an alluring atmosphere in the building. In conclusion, The First Church of Christ Scientist is more similar to the Temple of Artemisia because it consists of more Ancient Greek elements and decorations such as: free-standing, pediment, Ionic columns, sculptures on pediment, etc. Even though\r\n'

'Frederick Douglass Essay\r'

'â€Å"What he around d seeed, that I most desired.” (Narrative of the livelihood story of Frederick Douglass pg.48) Frederick Douglass states that knowledge and literacy atomic number 18 great forms of power. Slaves be considered property and argon non treated with respect, and in his novel, Douglass expresses how he was up to(p) to overcome the altercations that he had to expression contrasting it with how important it is to be literate. From being a former break ones back for liveliness, to the education that his masters revoked from him, this existence’s b make and butter was filled with hardships. In this novel, Douglass expresses the magnificence of knowledge by describing how he was able to learn, read, and release ,also what he discovered by becoming literate.\r\nThis mature up focuses on the ways literacy compete an important fictional character in his keep, how knowledge can occasion in ally cave in you feel badly, and how knowledge being s uppressed from those who are strivers bear upon the running of the slave system in the United States. â€Å"thither can be no drop outdom without education.” This sentence was written by a slave named Fredrick Douglass. During bondage, â€Å"masters… keep their slaves thus stupid” (Narrative of the life of Fredrick Douglass pg.19) thitherfore, to keep them from rebelling against their causeers and causing chaos passim the south. Douglass writes how he was unable to continue receiving the education that his harlot started to provide him with be hasten her husband instructed her to do otherwise. â€Å"A coon should know nothing but to obey his master-to do as he is told to do. Learning would spoil the beat out nigger in the world. If you teach a slave how to read, they would become unmilitary personnelageable and have no apprize to his master.” (Narrative of the life of Frederick Douglass pg.47)\r\nThe mistress’ husband understood that by ma intaining slave’s grasp of knowledge the owners result constantly have them under control. If slaves were informed that there was something called abolition which would provide them with freedom, then they would cease to live on the land of their owners, and even more than importantly, not pull up stakes their owners to own them and rebuttal. But something happened in Douglass’ life that assisted him to chase after the power of knowledge. With the explosive change of his mistress treating him as a man of no rights from previously portraying him as an passable caused an upset to the slaves owned by her husband. Douglass, however, started to discover what possible his knowledge could actually do for him. He states, â€Å"postal code seemed to make her more angry than to see me with a newspaper. She seemed to think that here lay the danger” (Narrative of the life of Frederick Douglass pg.51) By Douglass being capable of reading he realized the more he read à ¢â‚¬Å"the more I was led to abhor and detest my enslavers.” (Narrative of the life of Frederick Douglass pg.53) Douglass’ literacy allowed him to understand what freedom is and his â€Å"determination to be free” (Narrative of the life of Frederick Douglass pg.81) only continued to grow. Frederick Douglass’ life was affected poorly by being literate at first. By reading different literature pieces exchangeable The Columbian Orator, Douglass discovered that there was a entrust for him to become a free man. However, â€Å"Learning to read had been a curse rather than a blessing.” (Narrative of the life of Fredrick Douglass pg.53)\r\nDouglass displays how terrible he feels for not being able to do anything to free himself. He sometimes wishes that he was as ignorant as his fellow-slaves, who were used to their modify of not being aware that there was something that could potentially bring them freedom. He states, â€Å"I was broken in body, soul, a nd spirit. My natural elasticity was crushed, my intellect languished, the disposition to read departed, the cheerful spark that lingered about my eye died; the unlighted night of slavery closed in upon me; and see a man transformed into a wolf!”(Narrative of the life of Frederick Douglass pg.73) These statements Douglass shows how the idea of freedom tormented him and off-key him violent. Being so close, but yet so far from freedom causes him to suffer. The knowledge which he has acquired is of no use when he is a slave and seems to be a useless attribute. However, Douglass does in fact â€Å" eventually succeed in making…escape from slavery” (Narrative of the life of Frederick Douglass pg.103) his freedom allows him to speak his mind and raise his knowledge to good use.\r\nAlthough he is free, Douglass does not turn his back on â€Å"a brother slave”. (Narrative of the life of Frederick Douglass pg.103) Instead, Frederick Douglass has â€Å"been eng aged in pleading the cause of my brethren.” (Narrative of the life of Frederick Douglass pg.117) Many of these slave women and men are trapped by slavery. African-Americans were continually restrained of their voluntary and forced to live a life of lot the â€Å"White Man”. â€Å"It was the blood-stained gate, the entrance to hell of slavery, finished which I was about to pass” (Narrative of the life of Frederick Douglass pg.23). Controlled by white men, slaves were trained to believe that they were inferior to the owner. â€Å"There were no beds given to the slaves, unless one coarse mantle to be considered such, and none but men and women had these.” (Narrative of the life of Frederick Douglass pg.26) The slaves were controlled by their lack of knowledge and fear of the Master. â€Å"By far the larger part of the slaves knows as half-size of their ages as horses know of theirs.” (Narrative of the life of Frederick Douglass pg. 19) Ignorance a lso played a major role in the unconditional of slavery.\r\nEvery master was well aware that they essential to know almost everything, and the slaves had to know almost nothing. This would allow the slave owners to not worry about a revolt against them, since education was not offered nor was it allowed on the slaves own time to partake in learning. The slaves were convinced that â€Å"a still tongue makes a wise leave” (Narrative of the life of Frederick Douglass pg. 34) since that was what they were told to think. By slaves having no education and no opportunities to speak freely the slave system flourished. â€Å"A single word from the white men was enough-against all our wishes, prayers, and entreaties-to sunder forever the dearest friends, dearest kindred, and strongest ties cognize to human beings.” (Narrative of the life of Frederick Douglass pg.58)\r\n'