Adventures First, Explanations Take Such a Dreadful Time - Literature Essay Samples

William Yeats said, â€Å"I am of a healthy and long lived race, and our minds improve with age.† It’s true that as individuals face the world, they can only gain wisdom from exposure. For a young Jeannette Walls, it’s none other than her troubling life and great number of powerful experiences that mold her outlooks on the world. In her memoir The Glass Castle, she and her family constantly face hopeless challenges like starvation, homelessness, and addiction. From the desert to New York, Jeannette’s attitudes towards her family’s idealistic poverty and nomadic homelessness change over time from naive youthfulness to reflective acceptance. For the Walls, coping with extreme poverty, haphazard relocation, and virtual homelessness is pretending that their life is an â€Å"incredibly fun adventure† (Walls 85), and for young Jeannette, the mere concept of â€Å"adventure† is more than enough to eliminate many of her worries about their uncertain lifestyle. Describing one desert night, she recounts, â€Å"we slept under the starsDad said that was part of his planI told Lori how lucky we were to be sleeping out under the sky like Indians. ‘We could live like this forever,’ I said. ‘I think we’re going to,’ she said† (18). Jeannette is not  stopping to think about how  they don’t have pillows, money, or even a place to sleep at night; instead, she perpetuates the serene image of sleeping under the stars and connecting with nature. Her strong bond with her father is apparent, seeing as she fully believes that their misfortune is all â€Å"planned.† She is still so dependent on family that she is blind to the facade of adventure that masks the reality of hardship. Her use of the word â€Å"lucky† illustrates that she isn’t merely searching for a bright side to the situation; this is a real adventure for Jeannette, or at least she has thoroughly convinced herself so. Conversely, while Jeannette gazes at the stars, Lori offers the stark contrast to her young sister’s starry-eyed wonder. Older than Jeannette, Lori is recognizing that homelessness is not something to be romanticized. Though adolescent years are always awkward transitions from dependence to independence, Jeannette’s transition is driven by the contradiction between her love for her family and her developing embarrassment towards the family’s lifestyle and choices. One day, after a disturbing encounter with a welfare officer, she narrates, â€Å"At least when Ernie and his gang came around yelling that we were trash, we could fight them off with rocks. But if the child-welfare man got it into his head that we were an unfit family, we’d have no way to drive him off† (194). Jeannette’s words serve as a metaphor that perfectly embodies her struggle. She describes her retaliation towards Ernie as juvenile and rugged, fighting with rocks; she is a rough-and-tumble, vengeful girl responding immaturely to bullies. This fearless air greatly contrasts her helplessness in facing the welfare man. For her, he symbolizes government and adulthood, in the sense that she must lea rn to deal with things she doesn’t particularly like. As age brings responsibility, it also brings wisdom, and she realizes that she’s also becoming more embarrassed by her family’s social standing and grows conscious of their image. In other instances, Jeannette is deeply upset by a woman’s use of â€Å"poor,† in reference to her pitiful hitchhiking. She even feels the need to research the option of welfare and encourage her own obstinate mother to get a job, or go on welfare. In each example, Jeannette is confused by the contrast between the allegiance to family that drove her childhood and the new awareness of the fact that in the real world, the lifestyle she’s used to doesn’t quite cut it. By the time she reach New York, although her parents still possess some signature Walls optimism, Jeannette is mature and fully understands that vagrancy is quite the opposite of an honorable adventure. When given the opportunity to confront people degrading her family, she says, â€Å"that would have meant explaining who I really was, and I wasn’t about to do thatI was tired of taking on people who ridiculed us for the way we lived, I just didn’t have it in me to argue Mom and Dad’s case to the world† (256). After a life of ignorance for bliss and facades to disguise famine, Jeanette is coming full-circle in self-awareness with the same bluntness and severity she always had in her wit from a young age: her whole upbringing has practically been a lie. She portrays guilt, yet it’s overridden by twenty-some years of exhaustion and suffering for the sake of â€Å"adventure.† Jeannette’s uses of phrases like â€Å"didn’t have it in me† and â€Å"tired† only display that she considers defending her parents to be almost physically (and surely mentally) exhausting, and who wouldn’t be tired after carrying much of the burden of a heavily burdened family from childhood into adulthood? In addition, she’s not even able to reveal the truth about her past, showing just how embarrassed she feels thinking about the depths to which her family has sunk just to exist. While she still loves her mom and dad, Jeannette is finally fully grasping what independence, survival, and self-preservation entail. A constant that remains throughout the story is Jeannette’s naivety and non-accusatory view of most things, as if the story is told through the mind of an optimistic girl in a hopeless world. However, whether due to her nature or to the way in which she was raised, Jeannette shows at a young age remarkable traits of wisdom and understanding, if only through unadulterated affection. â€Å"Unadulterated† in itself is an interesting concept, as if her affection is never tainted by the clutches of adulthood, or as if adulthood only contaminates pure thoughts and emotions with the burden of knowing â€Å"too much.† While Jeannette watches her family with growing pity as time passes, simultaneously her life clarifies as she, in adulthood, can comprehend the full picture. Ultimately, even if Jeannette decides that she can’t fully trust the teachings of an untrustworthy family, there is at least one piece of advice from her mother Rose Mary Walls that evidently ho lds true: What doesn’t kill you can only make you stronger. Through hungry nights, physical abuse, and emotional turmoil, what doesn’t kill Jeannette Walls her only makes her wiser, and stronger.

Identifying Occurrences By Collating Data - 871 Words

Quantitative research can be described as explaining occurrences by collating data that can be analysed using mathematical methods (Muijs, 2004). Quantitative data is considered important as it is unbiased and reliable, is able to look at relationships between variables identifying cause and effect in controlled situations (Newman and Benz, 1998). The quantitative article being appraised is by Sniehotta et al (2006) using the Critical Appraisal Skills Programme (CASP) framework tool (CASP 2014). Burls (2009) suggest that CASP is a useful tool to help develop skills to critically appraise and understand scientific research evidence using a simple checklist of questions. Additionally the National Health Service (NHS) resource department recommend CASP as a useful tool for critiquing medical research papers (Havard 2007). CASP considers 3 wide issues that need to be considered when appraising an article, these are broken down into 11 questions the enable thought processes to answer the issues systematically. A longitudinal experimental study was used over a period of 10 weeks to monitor the long term effectiveness with two planning interventions and a control group. Longitudinal experimental studies are beneficial in allowing the researcher the ability to observe changes over time and evaluate cause and effect of change (Teti, 2005). Furthermore they allow for clear focus and legitimacy by allowing a clear end result to be observed from a clear focus. However there may be aShow MoreRelatedEssay on Sandwich Aat1368 Words   |  6 Pagesto potential for fraud. 4. 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The Ancient Egyptian Hieroglyphics - 1412 Words

Since the ancient Egyptian hieroglyphics in 3100 BC[3], writing has been a part of human expression. Initially, writing was used for recording the stories, myths, and histories of nations that were once mighty world powers. But as time wore on and literacy increased to the point that scholars weren’t the only people that could relay messages, writing began to morph into a form of expression. The written word became not only the best way of recording the linear timeline of what happened when, but also the more abstract social and cultural aspects of everyday people living their everyday lives. History became the ideologies, fears, and political aggravations recorded in the books of the people, regardless of the genre. And as times†¦show more content†¦47 Rothman)[5]. Rothman discovered that when the rate of discussion was slowed down, students that wouldn’t normally speak in class would have time to gather their thoughts so that they could accurately contr ibute to the discussion. 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Auditing & Assurance of Lehman Brother Investment Banking Firm

Question: Discuss about the Auditing Assurance of Lehman Brother. Answer: Introduction One of the four biggest firms in the field of investment banking was Lehman Brothers in the United States before its collapse in 2008 due to bankruptcy. Lehman Brothers firm was a financial service providing firm before 2008 when it collapsed, filed for Chapter 11 bankruptcy after becoming bankrupt. The main cause of the collapse of t6he Lehman Brothers can be distributed between the management and the auditors. Management didnt analyze the risky decisions it was making and the auditors paid full support, who should have warned the firm about the consequences (Montgomery, 2017). The financial statements didnt comprise of such data that would reveal the fact that Lehman Brothers was now depending on loans to invest in the mortgage market. The years from 2001 to 2008 were seemingly a boon for all the enterprises as it was a period of profit making. The firm also seemed to make enormous profits during this period and started investing in the mortgage market. It didnt pay attention that due to this period the sub-prime mortgage market has already been destroyed (Tepalagul Lin, 2015). Another mistake on the part of the firm was to offer private financing, real estates, and leveraged lending, but all from its own assets. Negligence and the absence of facts and the issues which concern while drafting the financial statements were: There was a specific period from the year 2001 to 2008 as it was regarded as a time to make huge profits. Large amounts of money were taken as a loan by the Lehman Brothers as they dreamt of the huge profits they were never going to make. They were totally attracted by this boon in the market. But the situations went uneasily as the destruction of the sub-prime mortgage market started simultaneously in the fields of investments. The firm with the dream of making billions started to invest in dangerous portfolios and this was followed by neglecting all the required inquiry about the performance of the portfolio and without thinking the consequences (Arens et. al, 2013). The firm borrowed billions from different financers to invest in these risky deals. This happened because by that time the firm had started to give its own securities and assets as loans in the form o private financing, real estate, and many other forms. Financial Instruments The firm was running down on money. It wanted more loans to satisfy itself and this was done by the use of Repo 105 transactions. The firm very cleverly presented a false image of the firm in front of the public by manipulating the values in the financial statements. This was done so that the reputation of the firm remains intact and to get the loans easily. The firm now started to keep its securities as collateral. But due to change in securities the value of the collaterals would change so the firm upon consideration from the auditors made manipulations on the balance sheet (Elder et. al, 2010). The company was at that time paying off the debts of the financers from the loans taken from other parties. The Repo 105 transactions were shown as the sales inventory of securities and this led to the decrease of the securities from the firm. Moreover, the loans taken up by the firm on the part of the securities it had, were not at all in the image on the balance sheet. The loans were take n against these securities. The firm was clever enough to show these loans in the form of Sale proceeds of investment securities. So it can be seen that the firm left no chance to highlights its liquid assets and neutral liabilities (Montgomery, 2017). The Repo transactions and the commercial papers were later used by the firm to borrow short-term loans from third parties. The firm started to invest its long-term profit making assets in the mortgage market. It didnt take long for the firm to get bound to take loans on a daily basis in the year 2008. These enormous borrowings provided a path for the collapse of the firm due to various risks. There was a sudden increase of the rate of interests due to the entry of the debt obligations in the management of the firm causing a major upset in the firm (Story et. al, 2010). The time came when mostly all the financial institutions started to refuse the take the assets and securities of the firm against short-term financing. This resulting in were unable to pay the debts (Messier, 2013). Each and every wrong step took them further to destruction by it was the concealment of the facts which sealed the deal. The collapse could have been prevented or may have been delayed if the auditors playe d their part skillfully. Auditing Standards ASA 701 communication of the key Audit matters in the Independent Audit Report All the financial reporting periods terminating on 15th December or after the specified date were the ones on which the auditing standard was applied. The functioning of this auditing standard is to collect information about the conditions of finance and other important details and report it directly to the management department of the auditor firm as soon as possible. This auditing standard is a positive move on the part of the shareholders and the public who can look upon the financial sheets directly to know about the conditions of the company and then take the time to wisely plan their investments in the company (AuASB, 2015). Positivity on the part of the financial statements by applying these standards and as per the case of the Lehman Brothers, the firm could have been saved if the ASA 701 existed and was applied. It is strictly the duty of the auditors to pay heed towards matters of great significance and importance as they can be helpful during the filing of the financial statements, if neglected then can cause serious problems. As per Wiggins et. al (2015), the auditor must be aware of the material misstatement and matters of grave uncertainty and should think about the consequences related to these problems. All these key points should be kept in mind while drafting the balance sheet. Auditing issues responsible for the collapse of Lehman Under the presence of the ASA 701, the important facts and figures about the conditions of the firm would have been revealed. The absence of the ASA 701 and other auditing standards paved a way for the collapse of the firm and this path was infused with non-communication and concealment of the major facts and figures describing the worth of the firm. All these loopholes drained the Lehman Brothers completely. Concealment of misstated Leverage Ratio The leverage ratio saw a marked difference in its values in the year 2008 in comparison to the year 2007. The leverage ratio has clearly been decreased for the Lehman Brothers. This was due to the loans borrowed by the firm which was paid after the end of the fiscal quarters thus reestablishing the securities to be depicted in the balance sheet. These payments were the ones of the Repo transactions (Fox, 2009). The firm by the use of these Repo transactions imaged the decrease in the ratio as temporary and untruthful. The time came when due to such activities of the firm the leverage ratio was decreased to a level which had to be shown on the balance sheet and also in the financial statements of the firm (Bris, 2010). These points clearly show that the Lehman Brothers were to collapse at any moment and a report should have been put up for those charged with governance. The existence of the ASA 701 could have saved the firm from drowning. The firm could also have been saved if the auditors without any settlement did their work honestly, not only the firm but numerous people investing in the firm would also be prevented from suffering huge losses (Reed, 2008). Non-disclosure of non-approval of True Sale opinion in the United States The firm was required to get a permit of true sales for carrying on the transactions. The US refused them with the same so the firm made a deal with the financing department of the UK to get a permit but conditions being that all the transactions were to be carried inside the UK. Trade of the securities would be done in the same way (Wearden et.al 2008). Approval of Lehman policy of Repo 105 for misleading the Balance Sheet The firm opted for policies like Repo 105, Reverse Repo, and Repo 108. All this would help to present a false image of the firm. This resulted as to show the equities as collateral in behalf of the securities so as to keep going with the transactions. In short, the financial statements were window dressed and the actual position was different (Fox, 2009). This was done in the notice of the auditors and hence, the financial statements were altogether showing a different position but the reality was different. There was a breach of the standards and the auditors were involved in it. Providing green signal to financial statements that conceal Repo transactions It was the duty of the firm to buy back the securities of the firm worth millions of dollars. These remained undisclosed in the financial statements and as mere fluctuations in the balance sheet (Reed, 2008). Such were not disclosed and those facts were provided at the footnotes that did not meet the criteria of the disclosure. This misguided the investors and an entirely different aspect were created. The buy back of the securities at a minimal rate was depicted as derivatives (Bris, 2010). This shows that numerous facts were concealed by the management and the auditors of the firm which caused the collapse. Thus the points provide transparency to the fact that it was the mistake of the auditors on every step which led to the collapse. It is also possible that if the ASA 701 was present at that time then the auditors have made a tough call and would not have agreed on the management play with the balance sheet and the financial statements. Had the standards were operative then the auditors would not have allowed the misleading information. In short, when the regulations are strong and operative there is always a balanced act otherwise any loopholes are exploited to the utmost. The same can be cited for the collapse of Lehman brothers. Recommendation It is totally the responsibility of the auditors to depict the real conditions of the firm by the use of the financial statements. The positive working of the auditors is a way to ensure the benefits of the company, as well as the people, are interested in making investments in the company. The auditors report can act as a way from which people can get knowledge and then can wisely plan their investments. This can only happen if the auditors totally comply with the auditing standards set up. IN the case of the Lehman Brothers the auditors from Ernest Young can be defined to have a major hand in the collapse of the firm. If the auditors prepared fair financial statements then the company would be stopped from borrowing large amounts which the firm did, because the financiers only depend on the statements to grant loans. It is the duty of the auditors to warn the companys management about the upcoming consequences. The downfall of the Lehman Brothers clearly shows that there is a dema nd of strict supervision. It is now important for policy establishes like IFRS, Accounting standard Board, and Basel to strengthen the rules. Conclusion The reasons for the downfall of Lehman Brothers are clearly indicated in the above report and stress the importance of ethical standards in the organization. The result that emerges from the collapse is that the corporate governance and ethical standards must be strongly embedded in the organization. The same must be followed with strict precision. The organization must ensure that the rules not only benefit the organization rather is a strong driving force for the entire organization. Moreover, it has a direct bearing on the financial performance of the company. It is of utmost necessity that the organization must prepare the financial statements that should reflect the correct position and this must be taken care of by the auditors. The failure of Lehman Brother indicates the deficiency on the part of the auditors and the reports prepared therein was misleading. Therefore, the companies must opt for the adoption of strong standards of accounting and regulations. References Arens, A. A, Best, P. J, Shailer, G. E. P Loebbecke, J. K, 2013, Assurance Services and Ethics in Australia, 9th ed, Australia: Pearson. AuASB 2015, Explanatory Statement ASA 701Communicating Key Audit Matters In the Independent Audit Report, viewed 20 May 2017 https://www.google.co.in/url?sa=trct=jq=esrc=ssource=webcd=1cad=rjauact=8ved=0ahUKEwjHn8fisoDUAhUFuY8KHX-8AzoQFggmMAAurl=http%3A%2%2Fwww.legislation.gov.au%2FDetails%2FF2015L02016%2F3f9f21f6-38e3-4a6d-a1b3-c254e21f9d62usg=AFQjCNFuTx7N8zQsoLcER_cUQxKxD63tBAsig2=Ll0A_tO8Au2yrKz0LG3-LQ Bris, A 2010, The Lehman Brother Case: A corporate governance failure not a failure of the financial market. IMD International Elder, J. R, Beasley S. M. Arens A. A 2010, Auditing and Assurance Services, Person Education, New Jersey: USA Fox, J 2009, Three Lessons of the Lehman Brothers Collapse, viewed 20 May 2017 https://content.time.com/time/business/article/0,8599,1923197,00.html Messier, F. W 2013, Auditing and Assurance Services - A systematic approach, 9th ed. Australia: McGraw Hill. Montgomery, A 2017, The Death of ethics and the death of Lehman Brothers, Seven Pillar Institute Reed, K 2008, EY sued over Lehmans audit, viewed 21 May 2017 https://www.accountancyage.com/aa/news/1934026/-sued-lehmans-auditStory, L Dash, E 2010, Lehman Channeled Risks Through Alter Ego Firm, viewed 20 May 2017 https://www.nytimes.com/2010/04/13/business/13lehman.html Tepalagul, N. Lin, L 2015 Auditor Independence and Audit Quality A Literature Review, Journal of Accounting, Auditing Finance vol. 30, no. 1, pp. 101-121. Wearden, G, Teather, D Treanor, J 2008, Banking crisis: Lehman Brothers files for bankruptcy protection, viewed 19 May 2017 https://www.theguardian.com/business/2008/sep/15/lehmanbrothers.creditcrunch Wiggins, R.Z, Bennet, R.L Metrick, A 2015, The Lehman Brother Bankruptcy: The Role of Ernst Young. Yale School of Management

Should dangerous sports be banned Essays - Dispute Resolution

Millions of people play sport every day, and, inevitably, some suffer injury or pain. Most players and spectators accept this risk. However, some people would like to see dangerous sports such as boxing banned. This essay will examine some of the reasons for banning certain sports. Some sports are nothing but an excuse for violence. Boxing is a perfect example. The last thing an increasingly violent world needs is more violence on our television. The sight of two men (or even women) bleeding, with faces ripped open, trying to obliterate each other is barbaric. Other sports, such as American football or rugby, are also barely-concealed violence. Some people argue that the players can choose to participate. However this is not always the case. Many boxers, for example, come from disadvantaged backgrounds. They are lured by money or by social or peer pressure and then cannot escape. Even in richer social groups, schools force unwilling students to play aggressive team sports, claiming that playing will improve the students' character (or the school's reputation), but in fact increasing the risk of injury. Even where people can choose, they sometimes need to be protected against themselves. Most people approve of governments' efforts to reduce smoking. In the same way, governments need to act if there are unacceptably high levels of injuries in sports such as football, diving, mountaineering, or motor-racing. I accept that all sports involve challenge and risk. However violence and aggression should not be permitted in the name of sport. Governments and individuals must act to limit brutality and violence, so that children and adults can enjoy and benefit from sport.

Emily Holmes Essays - Body Shape, Human Appearance, Human Body, Self

Emily Holmes Essays - Body Shape, Human Appearance, Human Body, Self Emily Holmes Mrs. Hankins English 102 1 October 2015 Body Image In the eyes of society, women like Pamela Anderson, Tyra Banks and Victoria Secret Model Candice Swanepoel are the essence of perfection. What girl would not want their perfect hair, curvy body, big boobs, or tall body? As of today, 2 out of a 100 Americans attempt to starve themself each day. Ninety percent of those Americas are female. (Newport) The media presents society with an unrealistic body types promoting people, especially women, to look like them. Through TV shows, commercials, magazines or any form of advertising, the media enforces a certain body type which women mimic. The so-called perfect body type causes many negative effects on women in the US. Women who focus on unrealistic body images tend to have lower self-esteem and are more likely to be a victim of eating disorders. The media in America has a dangerous influence on women's health. The media is a primary factor in the development and maintenance of women's body image problems. Women start to feel insecure about their bodies by looking at media images daily. This provokes women to diet more because they feel more pressured to be slim. "But advertisers are not particularly wicked, people who set out to trick and mislead us. They simply provide images that we find seductive. Advertisers are the voice of society projected on a billboard or a TV screen" (Miniskirt Revolution). The magazine racks in any local store are saturated with magazines highlighting beautiful women adorning the covers. Commercials on TV feature tall, thin women promoting a certain product. The media presents an unrealistic body type for girls to look up to. They do not reflect on images from everyday life. When walking around in any place, very few people look like the women in commercials, most of them thin, but not overly s o. Flawless images appear so often in daily life, it's hard to remember that they are not real. Often many girls don't realize this. They hold themselves u! p to these images and feel the only way they can live life to it's fullest is to look like these icons. Even if someone is as at their perfect weight, it's easy to feel like a failure when comparing to a movie star or to Seventeen's cover girl. The line between fantasy and reality is skewed by mass media. The media places much stress on obtaining the "ideal" body image. Society pays a significant amount of attention to body image, physical attractiveness, youthfulness, sexuality and appearance, "the minimum requirement for the sort of model who appears on advertising hoarding is a height of 5 ft. 9in. a size 8 to 10" (Miniskirt Revolution). No matter how hard someone tries they will never achieve the look and figure of these supermodels. The problem of girls and women comparing themselves to "ideal women" has gotten more difficult in recent years, "A look at the measurement of Playboy centerfolds and Miss America finalists over the past 20 years shows that, although these women symbolize beauty, have been weighing less and less. In other words, society's ideal women keeps getting thinner and thinner and much more difficult for people to imitate" (Miniskirt Revolution). There is a healthy way for the female body to look, "but what we see on television is a special kind of thin. Most of us could starve our selves down to slivers and still not look anything like those sleek bodies that flit across our screen day and night" (Miniskirt Revolution). Leading characters in the current crop of TV shows are all thin. The TV shows with the highest ratings, such as Friends and Ally McBeal, have tall thin lead actresses. In Friends, there are three young, tall and thin leads. They are outfitted in tight shirts and mini-skirts. They all live good lives and have fun. In Ally McBeal, a young, tall and extremely thin actress portrays a successful lawyer. The message that this is sending across is that the key to success in today's society is to be young, tall and thin. Characters that are heavier are usually elderly, matronly, in low-status occupations, or on the wrong side of the law. In the

How did the recent financial crisis affect Financial Markets and Essay

How did the recent financial crisis affect Financial Markets and institutions - Essay Example The difference in interest rates has led to different problems and difficulties in the international financial market. Further on, another difficulty was caused by a greater demand for U.S. $ by oil importers thus leading to the U.S. $ currency devaluation, the yen Japan, the euro and the pound sterling. Therefore, market and capital markets suffered great losses and it was necessary to find a way out of this situation. At the beginning of financial crisis, the American society still had a hope that future elections of the President would facilitate it. Unfortunately, the impact of financial crisis of 2008-2009 still echoes in the world’s economy. There is a tendency to reduce the difference between the interest rates. Moreover, â€Å"the securities market has been greatly influenced by the devaluation of the assets of certain companies established by banks for loan securitization† (Bloom & Schirm, 2010). In the period between 2004 and 2007 the size of loans has increas ed from 60% in revenues to 90% respectively (Financial Crisis: Let's Get to the Root Cause, 2008). Furthermore, a poor management system of the loan system has also negatively influenced on the financial system. In order to facilitate the complexities occurred in the world’s bank and financial system it is possible to work in two main directions: â€Å"continue economic accounting real, if only the existing level now being maintained; and involve as many as possible capital in the economy† (Kuttner, 2009). In order to renovate a proper functioning of investment banks, such as Lehman Brothers, Merrill Lynch and American International Group (AIG), the U.S. government invested $85 billion in this sphere (Trussel & Rose, 2009). Unfortunately, banks of the country have fallen apart like a house of cards. Almost nineteen banks failed till November 2008 (Swagel, 2009). Therefore, a public confidence in bank system has gradually failed. A further interaction between internatio nal capital markets and financial institutions was full of complexities and the reasons for that should be found on political and economical levels. Political reasons for financial crisis are evident. These are political constraints. A complicated relationship between the congressional leadership and President Bush and his White House staff made 2007 an unconstructive year from the perspective of economic policy, although, ironically, it had the effect of making possible the rapid enactment of the early-2008 stimulus: Democratic leaders by then appeared to be eager to demonstrate that they could govern effectively† (Jackson, 2010). Administration’s deliberations were not facilitated even in time of financial crisis worsening. On the governmental level financial crisis could be solved in terms of mortgage refinance programs and investments in banking and job-creating systems (Kawa, Vanbever, 2010). Therefore, the influence of a global financial crisis has greatly affecte d on money and capital markets. Deposit and non deposit taking institutions have also been influenced greatly by financial crisis. State commercial banks have the main goal to increase profits and satisfy the needs of public by providing deposit options. Unfortunately, firms and individuals have decreased the level of deposits â€Å"