Business ethic case Essay Example | Topics and Well Written Essays - 500 words

Business ethic case - Essay Example â€Å"In the end, supremacist conduct by representatives lands at the entryway of corporate administrators. They face a situation: If they concede theres an issue, the organization is presented to claims and negative exposure. Be that as it may, refusal just exacerbates the situation. Until more managers stand up to the ascent of monstrous bigotry head on, Americans will keep on observing conduct they thought had a place with a progressively shameful age† (Bernstein, 2010). In the event that businesses stand up to this conduct, they can follow up on their drive for social equity, and truly impact organization strategy. There are numerous partners in the advanced organization, when one thinks about prejudice regarding issues of causality, goal, and comprehension. Various territories of the organization can share the duty, regardless of whether the organization possession and chiefs must bear a definitive obligation. For it is the administration of the organization that decides its course, and in dispensing with predisposition, initiative can set a model just as successful approach. Predisposition is by and large emotionally good towards one gathering or end in any event, when confronted with opposite proof. It tends to be applied to a person’s race, sex, nationality, sexuality, handicap, or different factors. For instance, regardless of whether positive or negative a great deal of reportage on African Americans will in general arrangement more with an in-bunch seeing an out-bunch than a genuine social blend of comprehension. This is a long way from a complete meaning of separation, which can likewise incorporate social choices that depend on the sex, handicap, or race of an apparent gathering, to give some examples potential outlines. The reason for most segregation and partiality in the work environment is the cultivating of generalizations that look to measure out-bunch homogeneity from the viewpoint of the oppressor. This oppressor is likewise observed to compose the eventual fate of the framework through a media framework that stresses paternalist authority, causing mental harm through segregation of

Adult and embryonic stem cells-2 Thesis Example | Topics and Well Written Essays - 10000 words

Grown-up and early stage immature microorganisms 2 - Thesis Example Truth be told, the hullabaloo from Christian gatherings in the US was to a great extent answerable for President Bush’s choice in regards to look into on human early stage undifferentiated cells that put a prohibition on further creation and utilization of hESCs, and constraining the examination to existing sixty lines of hESCs. In spite of the fact that this comforted the ministers and different strict figures in the US, this choice additionally got a lot of resistance from different strict gatherings inside US and different pieces of the world. For example, Protestants trusted in the missionary that expressed, ‘We may not do detestable with the goal that great may come.’ The Orthodox Christian Church contended that ‘the very demonstration of slaughtering those undeveloped organisms is insidious, and we may not benefit from malicious even to accomplish a decent and respectable end’ (Waters and Cole-Turner, 2003; p.173). Islamic sacred text demonstrating that life starts in the undeveloped organism following 40 days post preparation has offered ascend to numerous different points of view on early stage foundational microorganism look into (Peterson, 2003). Be that as it may, the Hindu and Buddhist convictions are not based on the life of incipient organism yet on precepts of karma (activity or obligation) and ahimsa (peacefulness). Regarding this, Jafari et al (2008, p. 90) call attention to that the goals of benefactors, needs, scientists’ convictions, and the potential beneficiaries are significant elements that decide the destiny of early stage undifferentiated cell (ESC) research and its clinical applications. This article infers that Muslims, Jews and most of Protestants favor ESC look into from a religion point of view (see Appendix 1.1), yet have good and moral contemplations joined to annihilation of incipient organisms. The changed strict convictions have brought about extraordinary d iscussion over ESC look into in numerous measurements that have risen up out of religious, moral, as well as good feelings in different pieces of the world. Gotweis, Slater and Waldby (2009) contend that little proof exists to demonstrate

Should You Attend A College Essay Writing Bootcamp?

<h1>Should You Attend A College Essay Writing Bootcamp?</h1><p>It appears pretty much every school or college understudy who is made a beeline for school nowadays is searching for help in school exposition composing. A large number of them may be thinking about whether a school paper composing bootcamp is the solution to their school composing troubles. How about we investigate a portion of the things that could make you take a gander at a school exposition composing bootcamp as the answer for your paper composing woes.</p><p></p><p>The first thing that you ought to consider when investigating a school article composing bootcamp is the place the understudies will be educated. A decent composing bootcamp ought to be authorize by a legitimate association. This is generally shown on the facade of the course, or in the prospectus. The bootcamp you pick ought not be a here now gone again later activity, and you ought to have no issues seeing wheth er they are accredited.</p><p></p><p>You likewise need to pick a composing bootcamp that is all around run. Most projects incorporate cordial individuals, yet you may locate that a portion of the teachers are not as amicable. On the off chance that you do discover a program that appears to run itself, however your educator is by all accounts somewhat of a twitch, at that point you might need to investigate other programs.</p><p></p><p>Your school paper composing bootcamp ought to likewise be eager to respond to any inquiries you have about the procedure. In the event that you are not sure about how to utilize a specific sort of composing programming, a composing bootcamp ought to have the option to answer your questions.</p><p></p><p>A school exposition composing bootcamp ought to likewise allow you to work on utilizing the product on paper. In the event that you find that it isn't the correct programming for yo u, at that point you might have the option to utilize an alternate program or request a refund.</p><p></p><p>A great composing bootcamp ought to have you work on all that you have to think about composing a paper without any preparation. The more you can practice and test your aptitudes already, the happier you will be. A composing bootcamp ought to have you compose a few hundred words on a subject that intrigues you, so you can feel great with your exposition and the manner in which you write in general.</p><p></p><p>When you are investigating a school article composing bootcamp, it is critical to likewise consider whether the individuals included are experienced scholars themselves. On the off chance that a composing bootcamp is going to offer you practice, yet not genuine practice, you should be looking somewhere else. You can get practice without being acquainted with another person's writing.</p><p></p><p>O f course, it's implied that you need a composing bootcamp that you can bear. Try not to go with the first you experience, yet do some examination before you focus on anything. You would prefer not to discover that you truly can't bear the cost of the administrations you need.</p>

The Hidden Treasure of Great Essay Topics

<h1> The Hidden Treasure of Great Essay Topics </h1> <p>It is a smart thought to search for the one which has a prevalent notoriety and offers top notch papers at cheap costs. Schools need to discover a sentiment of development and introspectionpinpoint the change and show your private development. Paper point will be the Initial and likely one of the most essential advance to take in on the method to progress. Settling on a theme is a basic issue that mostly gauges last accomplishment of the activity. </p> <p>If you might want to instruct and engage a peruser, you should choose a specific subject which is pertinent and follows the task manage. There's no uncertainty that as an exploration researcher there are a few points that draw you once you take a gander at a particular exercise or subject. To move toward the paper with at any rate tension, you ought to pick a theme that you are feeling good expounding on, and one which you're certain you may get a handle on the fitting grant on. Indeed, even in the occasion the cutoff time is genuinely close, don't hesitate to get hold of our supervisors. </p> <h2>The Battle Over Great Essay Topics and How to Win It </h2> <p>Attempting to form an examination paper on a subject that doesn't have a ton of exploration on it's unbelievably hard, so before you pick a theme, do a smidgen of primer looking and be certain you will have all the information you need to create your paper. Considering the previously mentioned, how about we consider some captivating examination paper themes and recommendations for your exploration paper. </p> <p>Such a lively and dynamic field is probably going to make some awesome examination questions. Your secondary school research themes must be engaged and compact, along with intriguing, yet also expansive in their own one of a kind way so you can find enough information to fortify your proposition. </p> <p>If you pick a point that hasn't been highlighted in a hundred of other examination papers, you're likely to score an extraordinary evaluation, yet furthermore to include an important thing of exploration to the region of science. Exploration paper subjects ought to happen after the task. Science research papers are composed on a couple of the most entrancing subjects. Composing excellent examination papers shouldn't be hard. </p> <p>Each of these types of paper is possessed by the class of enlightening article. Guarantee you give away from of the things on your rundown moreover. There are an incredibly enormous variety of one of a kind subjects that might be done and should you view the rundown beneath you'll get a bigger number of thoughts than you will know about how to manage. Continue perusing, and you'll figure out how to find an incredible exploration paper subject just as you would prefer with plentiful information for its. </p> <h2> Great Essa y Topics and Great Essay Topics - The Perfect Combination</h2> <p>In request to turn your theme opportune, center around current issues or discover a way to make your favored point relevant to what in particular's going on the planet. To gain contention intelligent feelings ought not be regarded as a device. You ought to have your reasons, and our chief concern is that you end up getting a great evaluation. </p> <h2>Great Essay Topics and Great Essay Topics - The Perfect Combination </h2> <p>The cost of a paper rides on the aggregate sum of exertion the author needs to apply. Ask relatives and companions to check for botches or might be something which you missed. Understand that exposition themes are simply fundamental thoughts that leave you contemplating a thought that may be a gigantic arrangement to someone else. Your answer shouldn't be a book report. </p> <h2>The Little-Known Secrets to Great Essay Topics </h2> <p>Th e body of the paper can be broken into different sub-themes that identify with the key subject. At the point when you pick an exploration subject, make certain it is one which you comprehend and have a strong handle on. A sublime paper theme should be intriguing and should consolidate a unique thought or position attempt to forestall buzzword points which will probably exhaust your peruser. Finding an incredible subject is needy upon individual intrigue and information. </p> <h2> The Principles of Great Essay Topics You Can Benefit From Starting Today</h2> <p>The absolute initial step is the place a critical number of understudies become stuck. Regularly it turns out to be difficult to pick one specific subject either because of the numerous thoughts in the understudy's head, or because of their total nonappearance. Clarify your duties, and you'll be such an understudy schools find massively appealing. In spite of the fact that it's normal, understudy needs t o obtain option to become prevalent evaluations. </p> <h2> Great Essay Topics - What Is It?</h2> <p>Categories, article subjects could be isolated into. Investigating the theme licenses you to discover increasingly about what entrances you, and should you pick something you really like, composing the paper will be progressively agreeable. The paper is only one of the significant techniques you'll have the option to separate yourself. At the point when you start composing an exposition you must have a thought on where to start and the best approach to start, the subject of the paper is the underlying aide which helps in further composition. </p> <p>Essays are a fairly fundamental bit of any scholarly course and there are loads of papers an understudy writes in his scholastic profession. Tackle however many papers as could reasonably be expected and concrete your spot among the celebrated article essayists on earth. The theory will give you a rule about how to go about with composing the paper. </p> <p>Also, use all the scratch paper you request. Obviously, choosing the right theme for your exploration paper is the underlying and most basic advance on the most ideal approach to composing the paper itself. The period paper theme communicates what your identity is and you're foresight on the subject issue it needs a blend of EQ and IQ to make a very quite great body. Regardless of whether a particular exploration paper theme is getting a lot of buzz as of now or other people appear to be keen on expounding on it, don't feel enticed to make it your point in the event that you don't truly have an enthusiasm for it too. </p>

Top Advice on How a College Essay Reference Page Should Look

<h1> Top Advice on How a College Essay Reference Page Should Look </h1> <h2>The Unusual Secret of How a College Essay Reference Page Should Look </h2> <p>You will likewise get a complimentary diagram, absolutely free arranging, thoroughly free list of sources page, boundless free amendments and a thoroughly free literary theft report. The page header should be remembered for the top edge. You ought to likewise check whether you will require cover sheet in any capacity. On occasion, the article cover sheet is a fundamental component of the impression made through a scholastic paper. </p> <h2>How a College Essay Reference Page Should Look - Dead or Alive? </h2> <p>If you disregard to adhere to the extremely straightforward MLA (Modern Language Association) directions on how best to design your articles, the inspectors will trust you don't be able to adhere to basic guidelines appropriately. On the off chance that you do insightful r esearch, you may need to reference sources from scholastic diaries. To find out about papers, it's critical to perceive any reason why papers are such a significant bit of scholastics. A wretched article can prompt a heavenly understudy to get dismissed. </p> <h2>How a College Essay Reference Page Should Look Secrets </h2> <p>The dynamic voice is probably going to make your sentences significant and furthermore license you to impart all the more adequately. You have to have an arrangement, a built up structure, when you are composing a paper. The title ought not just sell your paper in several words however what's more give an idea about the primary concern which you're going to make through the exposition. On occasion, it can go about as a change to the following paragraph.</p> <p>Make certain the finishing up some portion of your exposition isn't dry. The MLA decide book expresses that the passages should start by leaving a half-inch space toward the beginning. On occasion, it's required to refer to a few sources in 1 sentence. You may then decide to build your proposition articulation relying upon the contention, position or declaration you need your paper to take. </p> <h2> The Dirty Facts on How a College Essay Reference Page Should Look </h2> <p>When it is still more than one-page long, you should consider whether you're endeavoring to pack in such a large number of focuses. Well perhaps you've been propelling yourself excessively hard and require a break. On the off chance that you are encountering a difficult time in getting familiar with your point, using the APA references can be a useful advance. As a rule, in case you're ready to enough get the assistance from someone you know, there isn't any advantage to paying som ebody to help you.</p> <p>For school applications, you can need to have a 10-advance seminar on school application article writing to find out additional. The fact of the matter is very critical recorded as a hard copy school application papers, you could likewise find out about composing a flourishing school application exposition to discover more. Additionally, should you need any additional guide, you have to inspect the paper evaluating and improvement administration from the Princeton Review. A parent or close relative is an extraordinary alternative for a supervisor in the event that it is conceivable to answer yes'' to the ensuing inquiries. </p> <h2>Things You Won't Like About How a College Essay Reference Page Should Look and Things You Will </h2> <p>Most most likely, you are never going to find all progressions as 6th version was discharged up to now. You have numerous configurations available to you to make a rundown of references. All things considered, APA design spread page allows a specific degree of adaptability, which may be a touch of baffling from the outset. Wikipedia pages, online word reference sites, and web reference book destinations are just a couple of instances of locales without a writer. </p> <p>Creating your reference segment using the reasonable APA group is the perfect alternative. The title should be written in italics. By and large talking, there are no solid guidelines for titles. There are specific standards for each source so it's essential to perceive the sort of material you used to set up which designing principles apply. </p> <p>Following your presentation, in any case, there's a phenomenal chance that youwillwant to utilize headings for specific areas of your paper. Review various on-line tests of research papers regularly is insufficient. Breaking point the quantity of people who survey your paper. The absolute initial step is to choose an energizing point for the forthcoming paper. </p> <h2>The Hidden Gem of How a College Essay Reference Page Should Look </h2> <p>Rather than helping you to locate your absolute best voice and thoughts, a horrible supervisor changes your composition into their own special vision. Now and again, the best strategy to learn and see new data is by method of seeing and understanding work which is as of now finished. Quick update that in the occasion that you're endeavoring to make a reference for a digital book found on the web, use theAPA book citationpage. In case you're considering what kind of help you can and should, get with your very own announcement, you've gone to the right area! </p>

The Failure Behind American International Group Finance Essay - Free Essay Example

What happened and Why it happened? AIG and its subsequent failure are one of, if not the most well-known company failures in financial history. Of the more recent bankruptcies filed for companies like Enron and Worldcom, the effects and unforeseeable consequences of the failure of a company like AIG would be much more widespread and felt by many more Americans at the lay person level. AIG is primarily an insurance company that sells Property casualty, life, and travel insurance to customers the world over. However, there was another arm to the company known as AIG FP or American International Group Financial Products division. This division dealt in the financial markets as more than an intermediary, but actually as a trader. The most publicized and understood version of what happened at AIG is that the federal government bailed them out. The term bailout has come to be understood as a final resort transaction with no official means of repayment or penalty. However, this simply is not what happened. The truth of the matter is that AIG deviated from its core business of insurance and the profit margins that come with the premium to risk spread. A great majority of the equity that had existed in AIG came from the sale of credit default swap contracts through the financial products division. These contracts had implicit assumptions of quality and of financial stability. These stipulations in the contracts warranted that if the credit rating of AIG fell, the risk of the counterparties w ent up significantly and that there must be compensation for this. The basic product underlying all of these contracts was the ever popularized Asset Backed Security, or, to be more specific, the ABS CDO or collateralized debt obligation. As almost any American would be able to tell you, at this time in 2008, these asset backed securities were based on defaulting mortgages. Credit default swaps can be lucrative when defaults are low, however, the agreements can quickly cost a company billions if defaults increase sharply. Some of the most interesting information of the entire financial crisis comes from AIG and more specifically from the Financial Products Division. This division was an almost infinitesimal piece of AIG in terms of real estate occupied and employees present. However, it was out of this small setting that Joseph Cassano and his employees issued credit default swaps on over $441 billion in securities that were originally rated AAA. This refers to the tranches that were created for the asset backed securities and more specifically the senior tranche, or least risky. The problem here is that when the company reorganized its tranches to be able to sell more of the repackaged security, they simply upgraded the Mezzanine tranche to Senior, so as to increase the credit worthiness of the security that they were selling. Of the $441 billion of securities traded by the financial products division, over $57.8 billion were based in subprime loans (Pittman). In 2008, this is exactly what happened to AIG and their Financial Products division. In 2007, AIG FP lost more than $10 billion and by the end of the second quarter of 2008 they had lost an even more impressive $17 billion in that division alone. This investment portfolio was significantly more risk seeking than any of the other investment portfolios of AIG, however, these were the most toxic at the time. Due to the overwhelming losses to AIGs capital reserves, they began to be the subjects of inc reased scrutiny by the SEC as well as credit rating agencies such as Moodys and Standard Poors. The rating agencies quickly downgraded the company and its Credit Rating (SP), causing AIG to have to fulfill the requirements of their Credit Default Swap contracts and costing the company over $13 billion dollars of its capital reserves. After the requirement to pay, the company was seen as almost being insolvent. The limits of their liquidity crisis were fast approaching bankruptcy. This is where the story begins for most people, and where the term Government Bailout comes into play. After the downgrading of their credit and the falling of AIG stock price from a 12 month average of approximately $70/share to $1.25 on September 14, 2008, the federal government attempted to get a private loan for AIG to stay liquid and above water during the financial crisis at one of its worst moments. JP Morgan Chase and Goldman Sachs were called upon to try to finance the deal. This was unsuccessf ul, but the government wanted to find out if there would be widespread effects to the failure of a corporate giant such as AIG. Morgan Stanley was hired to assess the systematic risks associated with failure of such a large company. Not only did AIG effect the lives of more common Americans than companies such as Goldman Sachs, but the counterparties involved in their Credit Default Swap contracts stood to lose upwards of $180 billion dollars if the company was to go under. Below is the highly sought after schedule A, or list of derivative contracts. Schedule A (Derivative and off balance sheet instruments) After all was said and done, the company entered into a 24 month secured credit facility that AIG could access up to $85 billion from. The loan was secured by AIGs assets including the non-regulated Financial Products division. It came at a cost of LIBOR +8.5% to AIG (Gretchen Morgensen). The federal government received stock warrants for 79.9% of the company as a result of this deal and later increased its ownership stake to approximately 91.2% after purchasing a second round of $40 billion with the Troubled Asset Relief Program. This is seen as the government bailout. In the most simplistic sense, the government took action that it had to to keep the financial system from suffering massive losses to AIG and its counterparties in their Credit Default Swaps as well as the millions of other Americans that are affected by AIG and its subsidiaries on a daily basis. This is why AIG was given the attention and capital that it so desperately required and companies such as Goldman Sach s were allowed to fail. Was it Preventable and How? The AIG liquidity crisis and the numerous U.S. market failures can be attributed to the lack of affective government Regulation. Over the past few years regulation of Financial Institutions has been highlighted by the media and congressional action. This highly debated issue has been a major concern for decades as the financial industry continues to change and new financial products become created. The most recent market failure is mostly due to the expanding derivatives market and its role in the failure of numerous financial institutions including AIG. Past regulation legislation has clearly failed in properly regulating the new derivatives market and preventing firms from harming the overall U.S. market. New regulation is now in the process of being created to update the current Regulatory institutions so that they are able to accommodate the new financial products and protect the U.S. market / economy. The financial industry has drastically changed over the past few decades. With the creation of computer trading, complex models and derivatives the job of regulating financial institutions has become far more complex. One of the first government actions to control these institutions from potentially harming the overall economy was the creation of the Glass-Steagall Act of 1932. This legislation was aimed at protecting depositors money and limiting the ways in which banks could invest their deposits. By eliminating full service Universal banking the government believed that it could prevent another financial catastrophe after the great depression. Glass-Steagall however was repealed in 1999 and was followed by many de-regulatory actions. This era of de-regulation is what many think allowed the growth of reckless trading and speculative betting since government agencies were powerless to stop such actions. The failure of AIG is what really brought light towards the problems of government regulatory agencies. After the bailout people began to search for who was to blame for the companies collapse and the adverse affects it had on the economy. Since AIG is such a large corporation it was not clear initially who or what department was responsible for the extreme losses. The sub division called AIG Financial Products was found to be the main culprit for the collapse. This department was engaging in credit default swaps and risky derivatives trading. Since the company operated similar to a thrift the Federal Office of Thrift Supervision was viewed as the primary regulating agency. This agency was also responsible for regulating other failures such as Indymac and Washington Mutual. Once AIG began to fail extreme amount of pressure were put towards reforming the regulation system, Ben Bernake said, AIG exploited a huge gap in the regulatory system. Since the bailout the President and Congress have passed some legislation in hopes of preventing similar failures in the future. The Dodd-Frank act of 2010 is the main piece of regulatory legistation reform that has been passed since the financial collapse. In this act past laws including ones from the Glass-Steagall act are reinstated and combined with new reform in order to better regulate modern day financial companies. Included in Dodd-Frank is a section eliminating the Federal Office of Thrift Supervision, which was powerless to control and monitor large corporations like AIG. Many people compare AIG to their regulators as A super heavyweight boxer against a 13 year old boy. In order to give regulators more power the Dodd-Frank act created two more agencies, The Financial Stability Oversight Council and the Office of Financial Research. These 2 agencies were given the responsibilities from the previous office of thrift supervision along with other failed regulatory offices. The main change in regulation power came from the new ability for the regulators to monitor ANY risks to the U.S. financial system and the power to consult State regulatory offices overseein g insurance companies. Many other proposed laws have been discussed to further the financial security of the U.S. economy. One such rule is called the Volcker Rule which proposes that depository institutions should be prohibited from proprietary trading, much like in Glass-Steagall. As the economy continues to stabilize and grow regulatory legislation such as the Dodd-Frank act will become extremely important in order to prevent another great failure like AIG. The struggle between the free market economy and government regulation will continue to be a major source of debate for many years to come. Risk Management Errors We dont live in a world where conventional risk management textbooks prepare us. Not one firm forecast the true impact of the economic crisis and its consequences. These consequences continue to take business academics and tenured economist by surprise. The banks have multiplied the crisis because of the so-called risk management models, which increased their exposure to risk instead of limiting it and rendered the global economic system more unstable than ever. In the late 2000s many firms learned that instead of trying to anticipate low-probability, high-impact events, they should reduce their vulnerability to them. In August 2007 during a conference call with investors, many high-ranking AIG officials stressed the near zero risk probability of credit-default swaps. This was the first in many risk management errors. AIGs chief risk officer was quoted as saying the risk actually taken is very modest and remote. A credit default swap is a bilateral contract between the buyer and seller of protection. The CDS refers to a reference entity or reference obligor, usually a corporation or government. The reference entity is not a party to the contract. The protection buyer makes quarterly premium payments, the spread, to the protection seller. AIG did not understand the risk involved in these credit default swaps and that misunderstanding was largely in part to CEO Martin Sullivan. He was quoted as saying It is hard for us with, and without being flippant, to even see a scenario within any kind of realm of reason that would see us losing $1 in any of those transactionsÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦. We see no issues at all emerging. We see no dollar of loss associated with any of that business. The lack of knowledge and the massive amount of confidence lead AIG down the path to destruction. In November of 2007, AIG reported a $352 million unrealized loss from its credit-default swap portfolio, but to keep investors happy AIG was quoted as saying its highly unlikely that they would lose any money one the deals. Moving on to December AIG disclosed 1.10 billion in further unrealized losses to its swap portfolio, bring the grad total to 1.5 billion in loses. Throughout a conference call with investors, CEO Martin Sullivan explains that the probability that AIGs credit-default swap portfolio will sustain an economic loss is close to zero. AIGs thought its risk-modeling system had proven very reliable, Sullivan said, and since the transactions were so conservatively structured, AIG had a very high level of comfort with its risk models. Moving on to February, AIG set its 2007 total realized loses to 11.5 billion. AIG also disclosed that I had posed 5.3 billion in collateral as well. This was the first time the company had disclosed the amount of money in collateral. In the late months of 2008, the government pledged 115 billion to AIG in bailout funds to try to hedge the crisis. The US board of Governors and Treasury announced the restruc turing of the governments financial support to AIG. This restructuring included a treasury purchase of AIG preferred shares through the TARP program. This program reduced the 85 billion dollars in AIG revolving credit to 60 billion and created two limited liability companies. In the late months of 2008 to 2010 the powerhouse fell apart. Who was responsible? American International Groups monumental collapse like any other disaster derived at first from ambition. Then, in turn, this same ambition begot greed. In retrospect, looking back on the AIGs collapse, we can say there were many individuals that were responsible for the devastating disaster in the wake of the economic crisis of 2008. First, we must start from the top of the organization and work our way through the corporate hierarchy to lay out the appropriate blame to the responsible parties. Starting in 1987, when the Financial Products division within AIG was created by a joint venture between Howard Sosin and the AIG CEO, Hank Greenberg. The tumultuous relationship built on greed was doomed from the beginning as the ambitious Sosin only needed Greenbergs financial and brand backing whereas Greenbergs leadership style was with an iron fist. Lacking the trust in Sosin, Greenberg eventually did enough micro-managing to get Sosin to leave the company on bad terms and eventuall y replaced him with one of his protà ©gà ©s, Joseph Cassano. Under Sosin, Financial Products was a large profit, no material loss division within AIG that generated millions in profits during his tenure. In contrast, Cassanos tenure was an aggressive and risky operation that he deemed a no lose situation when in fact it eventually led to AIGs collapse and a subsequent bailout by the federal government. Under his control, the Financial Products division indulged in extensive selling of credit default swaps on mortagages which at its height AIG had guaranteed some $440 billion in obligations. In all, Joseph Cassano and the lack of corporate governance within AIG allowed him to single handedly bring a company that was once looked at as one of the safest and secure institutions to place your money in as one the biggest failures in the modern day economy. Ripple effect on the market/economy? In the wake of the financial crisis in 2008, the collapse of such a company with the size and stature of AIG would have been catastrophic to the entire financial world as we know it. Most systematically its downfall would have led to the eventual collapse of other banks with it because subprime issues in the underlying credit default swaps AIG was selling. In theory, every bank would have been able to look at their balance sheets and note that they were suffering from the same type of subprime issues that would have destroyed AIG had there not been a bailout by the federal government. Ultimately, the risky debt obligations that the credit default swaps were based on were being defaulted at a high rate and there was no way possible for AIG at the end of the day to honor all of its obligations to speculators and banks alike who purchased these financial instruments as forms of insurance against default. On another note, another economic industry that suffered was the travel indust ry. In the wake of the government bailout of AIG, executives were spotted relaxing in a luxurious resort in California. Because of this, AIG received bad press from the media and taxpayers, alike. Other companies took note of this bad press and immediately cancelled any type of conferences in exotic and expensive locations in order to avoid that same bad press. Sources Mark Pittman (2008-09-29). Goldman, Merrill Collect Billions After Feds AIG Bailout Loans. Bloomberg News. https://www.bloomberg.com/apps/news?pid=newsarchivesid=aTzTYtlNHSG8. Retrieved 2011-04-08. SP: Ratings on American International Group Lowered and Kept on CreditWatch Negative. Yahoo News. 2008-09-16. https://marketplace.news.yahoo.net/pressrelease.aspx?id=96684. Retrieved 2011-04-08 Gretchen Morgensen; Mary Williams Walsh (2008-09-14). Rush Is On to Prevent AIG From Failing. The New York Times. https://www.nytimes.com/2008/09/15/business/15aig.html?hp. Retrieved 2011-04-08

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