Worries Grow About Application Essay Help That May Go Too Far

Worries Grow About Application Essay 'Help' That May Go Too Far The truth is there is no definitive answer to this question. The number of words it will take to fill a page will depend on a number of factors including the type of font used, the font size, spacing elements, the margins used on the paper, the paragraph length, etc. For example, if the assignment says the writing should be in 10-point font, it’s going to take a greater number of words to fill a page than if the assignment requires a 12-point font. yes, it is ok as long as an essay of their child reflects the inner world of the child, not that of parents. You are permitted to use for your personal, non-commercial use only. You must not copy, download, print, or otherwise distribute the content on our site without the prior written consent of The Ivy Coach, Inc. The one exception to this rule is if you were able to receive a scholarship or work toward funding your own trip. You also want to demonstrate substantive contributions to the community you helped overseas. Basic volunteering won’t cut it, since you could have done the same thing in a local neighborhood. For those who are looking for a basic rough idea, this is helpful. I only need to write 250 words and you don’t have how many pages that is on your list. If you are given a writing assignment with a page number, the best thing to do is go directly to the person who made the assignment and ask for a word count. This will take away all the variations and help ensure your writing assignment meets expectations. If it’s for something informal and you simply need a general guideline, you can find it below. For those who need a general rule of thumb, a typical page which has 1-inch margins and is typed in 12 point font with standard spacing elements will be approximately 500 words when typed single spaced. For assignments that require double spacing, it would take approximately 250 words to fill the page. We both wrote the same number of words, his are just longer so it takes up more pages. That means people who write long words have an advantage even though long words aren’t always good to use. Just because an estimate won’t be exactly right doesn’t mean it isn’t useful. For an assignment that requires you to write four pages, you can make the estimation that you’ll need to write approximately 2000 words for a single spaced paper, or 1000 words if the assignment is double spaced. Again, the type of font used can make the word count higher or lower, but it’s a good rule of thumb for those who are simply looking for a general estimation. Create a free account and we’ll notify you about new articles, scholarship deadlines, and more. Get the writing process started with the articles and advice in our Application Essay Clinic. Discover the schools, companies, and neighborhoods that are right for you. Only consider this topic if you went above and beyond volunteering to help an overseas community. Colleges do want you to have strong beliefs that you’re willing to stand for, and some essay questions give you the opportunity to do just that. They’re also the only opportunity you get to showcase your personality, values, and voice. No matter how great of a writer you are, you are bound to make a few mistakes. I guarantee that you will find more than a few grammar and stylistic mistakes even in this guide. yes, it is ok as long as an essay of their child reflects inner world of the child, not that of parents. Students may ask their parents for editing the essay, however, they better off asking their English teacher for such task. of course, some parents are in the position to do a good job, in many cases, they are not suitable for the job.

Worries Grow About Application Essay Help That May Go Too Far

Worries Grow About Application Essay 'Help' That May Go Too Far The truth is there is no definitive answer to this question. The number of words it will take to fill a page will depend on a number of factors including the type of font used, the font size, spacing elements, the margins used on the paper, the paragraph length, etc. For example, if the assignment says the writing should be in 10-point font, it’s going to take a greater number of words to fill a page than if the assignment requires a 12-point font. yes, it is ok as long as an essay of their child reflects the inner world of the child, not that of parents. You are permitted to use for your personal, non-commercial use only. You must not copy, download, print, or otherwise distribute the content on our site without the prior written consent of The Ivy Coach, Inc. The one exception to this rule is if you were able to receive a scholarship or work toward funding your own trip. You also want to demonstrate substantive contributions to the community you helped overseas. Basic volunteering won’t cut it, since you could have done the same thing in a local neighborhood. For those who are looking for a basic rough idea, this is helpful. I only need to write 250 words and you don’t have how many pages that is on your list. If you are given a writing assignment with a page number, the best thing to do is go directly to the person who made the assignment and ask for a word count. This will take away all the variations and help ensure your writing assignment meets expectations. If it’s for something informal and you simply need a general guideline, you can find it below. For those who need a general rule of thumb, a typical page which has 1-inch margins and is typed in 12 point font with standard spacing elements will be approximately 500 words when typed single spaced. For assignments that require double spacing, it would take approximately 250 words to fill the page. We both wrote the same number of words, his are just longer so it takes up more pages. That means people who write long words have an advantage even though long words aren’t always good to use. Just because an estimate won’t be exactly right doesn’t mean it isn’t useful. For an assignment that requires you to write four pages, you can make the estimation that you’ll need to write approximately 2000 words for a single spaced paper, or 1000 words if the assignment is double spaced. Again, the type of font used can make the word count higher or lower, but it’s a good rule of thumb for those who are simply looking for a general estimation. Create a free account and we’ll notify you about new articles, scholarship deadlines, and more. Get the writing process started with the articles and advice in our Application Essay Clinic. Discover the schools, companies, and neighborhoods that are right for you. Only consider this topic if you went above and beyond volunteering to help an overseas community. Colleges do want you to have strong beliefs that you’re willing to stand for, and some essay questions give you the opportunity to do just that. They’re also the only opportunity you get to showcase your personality, values, and voice. No matter how great of a writer you are, you are bound to make a few mistakes. I guarantee that you will find more than a few grammar and stylistic mistakes even in this guide. yes, it is ok as long as an essay of their child reflects inner world of the child, not that of parents. Students may ask their parents for editing the essay, however, they better off asking their English teacher for such task. of course, some parents are in the position to do a good job, in many cases, they are not suitable for the job.

Worries Grow About Application Essay Help That May Go Too Far

Worries Grow About Application Essay 'Help' That May Go Too Far The truth is there is no definitive answer to this question. The number of words it will take to fill a page will depend on a number of factors including the type of font used, the font size, spacing elements, the margins used on the paper, the paragraph length, etc. For example, if the assignment says the writing should be in 10-point font, it’s going to take a greater number of words to fill a page than if the assignment requires a 12-point font. yes, it is ok as long as an essay of their child reflects the inner world of the child, not that of parents. You are permitted to use for your personal, non-commercial use only. You must not copy, download, print, or otherwise distribute the content on our site without the prior written consent of The Ivy Coach, Inc. The one exception to this rule is if you were able to receive a scholarship or work toward funding your own trip. You also want to demonstrate substantive contributions to the community you helped overseas. Basic volunteering won’t cut it, since you could have done the same thing in a local neighborhood. For those who are looking for a basic rough idea, this is helpful. I only need to write 250 words and you don’t have how many pages that is on your list. If you are given a writing assignment with a page number, the best thing to do is go directly to the person who made the assignment and ask for a word count. This will take away all the variations and help ensure your writing assignment meets expectations. If it’s for something informal and you simply need a general guideline, you can find it below. For those who need a general rule of thumb, a typical page which has 1-inch margins and is typed in 12 point font with standard spacing elements will be approximately 500 words when typed single spaced. For assignments that require double spacing, it would take approximately 250 words to fill the page. We both wrote the same number of words, his are just longer so it takes up more pages. That means people who write long words have an advantage even though long words aren’t always good to use. Just because an estimate won’t be exactly right doesn’t mean it isn’t useful. For an assignment that requires you to write four pages, you can make the estimation that you’ll need to write approximately 2000 words for a single spaced paper, or 1000 words if the assignment is double spaced. Again, the type of font used can make the word count higher or lower, but it’s a good rule of thumb for those who are simply looking for a general estimation. Create a free account and we’ll notify you about new articles, scholarship deadlines, and more. Get the writing process started with the articles and advice in our Application Essay Clinic. Discover the schools, companies, and neighborhoods that are right for you. Only consider this topic if you went above and beyond volunteering to help an overseas community. Colleges do want you to have strong beliefs that you’re willing to stand for, and some essay questions give you the opportunity to do just that. They’re also the only opportunity you get to showcase your personality, values, and voice. No matter how great of a writer you are, you are bound to make a few mistakes. I guarantee that you will find more than a few grammar and stylistic mistakes even in this guide. yes, it is ok as long as an essay of their child reflects inner world of the child, not that of parents. Students may ask their parents for editing the essay, however, they better off asking their English teacher for such task. of course, some parents are in the position to do a good job, in many cases, they are not suitable for the job.

Office Of Admissions

Office Of Admissions The number of reads and the process for reviewing application essays vary from college to college. Among the top 250, I know my colleagues review essays because some are moved to “check” authenticity or to contact the school source to verify veracity of the context as provided by the student. This is a tough question to answer as there is no way to know for sure. At a smaller school, it is more likely that the admissions officers will have the time to look at each essay, whereas at huge universities it would seem less likely. In terms of how many officers read each essay, that also varies from school to school. Some read regionally which means that one officer reads all the applications from all the high schools in a certain geographic region. It may sound like a chore, and it will certainly take a substantial amount of work. But it's also a unique opportunity that can make a difference at decision time. You should take the time to read and re-read the essay prompt, so you can answer it fully. Don’t be intimidated; unlike some college exams, the college application essay prompt is not designed to trick you. However, you must demonstrate that you can read and follow directions. The admissions officers are looking for a reason to disregard candidates. Don’t let them reject you because you hastily overlooked a sentence in the essay prompt. Admissions committees put the most weight on your high school grades and your test scores . However, selective colleges receive applications from many worthy students with similar scores and gradesâ€"too many to admit. So they use your essay, along with your letters of recommendation and extracurricular activities , to find out what sets you apart from the other talented candidates. The admissions officers are expecting you to celebrate yourself, to underline your strengths and personality, so they can make a quick, accurate judgment about you. At this stage in the college admissions essay writing process, you have considered the goals and psychology of the college admissions board. Often they are read in committee where several officers might look at one essay. If you want to know how you will be assessed at any given school, you should feel free to ask the admissions office. Based on my experience, we read every essay at the institutions were I served. Typically, applications received two reads and a third if the decisions were split. Most students want the college admissions board to view them as responsible, dependable, and academically ambitious. These are excellent essay goals, but you should also consider the essay in relation to your classwork. If your classwork already shows that you are studious and determined , then you may want to highlight another feature of your personality. When you have compiled all the pieces of your application and sent it to the college/university of your dreams, all of your hard work gets placed in a pile with hundreds of other applications. Then a small group of admissions officers will review each application, looking over the scores and coursework and reading the college application essays. On the other hand, during their tenures in college admissions, our specialists reviewed thousands of applications per year, each application containing four to six essays. Interested in understanding the origins of gang violence, he began studying the history of African Americans in Chicago. You have produced a list of ideas/attributes/details about yourself that colleges will find appealing. You have narrowed that list to the three or four most important ideas â€" the ones that will get you into your preferred college/university. Reading and answering the prompt may seem a bit obvious, but it’s often the obvious that people ignore. “I began to see a direct tie between the lack of opportunities facing black Americans due to institutional racism and the conditions that gave rise to gang violence,” Muhammad recalled. His research led him to the writings of African American legal theorist Derrick Bell. “I was very inspired by the depth of his analysis. I believe Derrick Bell’s legal education allowed him to offer the black community cogent insights on their political and social realities. Later in his book, Malcolm X expressed that one of his greatest regrets was his lack of formal academic education and that he believed he would have become a great lawyer but simply never had the opportunity. “I selected this career path due to my passion for defending the indigent,” said Muhammad, who also intends to raise awareness and organize against structural racism through scholarly articles and speeches. We need to change the culture around exams such as the SAT.

Office Of Admissions

Office Of Admissions The number of reads and the process for reviewing application essays vary from college to college. Among the top 250, I know my colleagues review essays because some are moved to “check” authenticity or to contact the school source to verify veracity of the context as provided by the student. This is a tough question to answer as there is no way to know for sure. At a smaller school, it is more likely that the admissions officers will have the time to look at each essay, whereas at huge universities it would seem less likely. In terms of how many officers read each essay, that also varies from school to school. Some read regionally which means that one officer reads all the applications from all the high schools in a certain geographic region. It may sound like a chore, and it will certainly take a substantial amount of work. But it's also a unique opportunity that can make a difference at decision time. You should take the time to read and re-read the essay prompt, so you can answer it fully. Don’t be intimidated; unlike some college exams, the college application essay prompt is not designed to trick you. However, you must demonstrate that you can read and follow directions. The admissions officers are looking for a reason to disregard candidates. Don’t let them reject you because you hastily overlooked a sentence in the essay prompt. Admissions committees put the most weight on your high school grades and your test scores . However, selective colleges receive applications from many worthy students with similar scores and gradesâ€"too many to admit. So they use your essay, along with your letters of recommendation and extracurricular activities , to find out what sets you apart from the other talented candidates. The admissions officers are expecting you to celebrate yourself, to underline your strengths and personality, so they can make a quick, accurate judgment about you. At this stage in the college admissions essay writing process, you have considered the goals and psychology of the college admissions board. Often they are read in committee where several officers might look at one essay. If you want to know how you will be assessed at any given school, you should feel free to ask the admissions office. Based on my experience, we read every essay at the institutions were I served. Typically, applications received two reads and a third if the decisions were split. Most students want the college admissions board to view them as responsible, dependable, and academically ambitious. These are excellent essay goals, but you should also consider the essay in relation to your classwork. If your classwork already shows that you are studious and determined , then you may want to highlight another feature of your personality. When you have compiled all the pieces of your application and sent it to the college/university of your dreams, all of your hard work gets placed in a pile with hundreds of other applications. Then a small group of admissions officers will review each application, looking over the scores and coursework and reading the college application essays. On the other hand, during their tenures in college admissions, our specialists reviewed thousands of applications per year, each application containing four to six essays. Interested in understanding the origins of gang violence, he began studying the history of African Americans in Chicago. You have produced a list of ideas/attributes/details about yourself that colleges will find appealing. You have narrowed that list to the three or four most important ideas â€" the ones that will get you into your preferred college/university. Reading and answering the prompt may seem a bit obvious, but it’s often the obvious that people ignore. “I began to see a direct tie between the lack of opportunities facing black Americans due to institutional racism and the conditions that gave rise to gang violence,” Muhammad recalled. His research led him to the writings of African American legal theorist Derrick Bell. “I was very inspired by the depth of his analysis. I believe Derrick Bell’s legal education allowed him to offer the black community cogent insights on their political and social realities. Later in his book, Malcolm X expressed that one of his greatest regrets was his lack of formal academic education and that he believed he would have become a great lawyer but simply never had the opportunity. “I selected this career path due to my passion for defending the indigent,” said Muhammad, who also intends to raise awareness and organize against structural racism through scholarly articles and speeches. We need to change the culture around exams such as the SAT.

How To Conquer The Admissions Essay

How To Conquer The Admissions Essay Write a few sentences on any reason that particularly strikes a chord with you. UT-Austin utilizes the transfer process to bring leaders onto campus who can introduce different perspectives to classroom discussions and student organizations. They applied as an out-of-state student from New Jersey, so they also address in their last paragraph how UT can help them achieve their goals. I worked thirty to forty hours each week while taking a full course load. I learned to communicate effectively at an early age. No matter what situation my family was going through, my sisters and other relatives considered my opinions and often put my suggestions into practice. My survival and quality of life depends on resolving conflicts for work, for my internship, and for relaying messages within a divided family. Recognizing my strength, I feel that public relations would be the perfect major for me. He asked same of me as with his Lehman Brothers partners. While that could understandably be stressful, working for Johnson and Johnson prepared me for adapting to pressure and navigating powerful personalities. I began by building a website and managing their nascent social media channels. Some might write this off as merely doing work for a High School team, but I disagree. I functioned as the liaison between policy owners and J&J, including those in non-English speaking countries, who were operating in different time zone. Working cross-culturally can be a challenge, but I learned quickly. I stayed organized and met intense deadlines assigned to my team by the Vice President of Global HR Services. How have they molded your interests and led you to this point? Pick one or two cases that you can talk about in-depth. For graduate school, it is best to take at least one professional situation and show what you did and learned. For example, if you’ve been asked to talk about an important event in your life, list down events that have made a significant impression on you. Don’t worry if these are events that are not ‘conventionally’ important or seem insignificant; what matters is that they have had some influence over you. Similarly, make a list of people you admire or who have influenced you â€" this could be a friend, a family member, a teacher, etc. and need not necessarily be a famous person. Take a piece of paper and start writing down all the reasons. Spend about half an hour on this, so that you can go beyond cliched ideas like wanting to improve your prospects or contribute to society. I like this essay a lot because it shares a compelling story that frames where they’ve come from academically and professionally, where they currently are, and how UT can help them achieve their goals. They also discussed why they enrolled at the University of Houston, their home city, rather than pursuing UT-Austin’s Coordinated Admissions Program. I considered my strengths, and now I understand that I love communicating with people and solving problems. I’m the go-to person in my friend group when relationships end or problems happen at school, and I am used to handling family crises at home. I want to help solve problems on behalf of companies, and I feel that public relations is my perfect fit. Interested in building your best transfer application? Providing specific observations from their visit let’s the review know that they are making an informed decision to transfer. I answered every day to a man who occupied corner offices atop Wall Street skyscrapers and oversaw operating budgets in the tens of billions of dollars. I started producing a weekly documentary series following their progress during the season. I divided responsibilities and maintained our daily schedule to keep our workflow moving smoothly. Complete my questionnaire for a free consultation. Despite their below average GPA, there’s no doubt they gained admission on the strength of this Essay A that helped connect their expanded resume and Essay E about growing up in a mixed-religions household. It’s a well-written response that no doubt helped their reviewer form a mental image of the student. Everyone can relate to the nervousness of being out of their element and receiving pleasant surprising news when they were otherwise doubtful.

US Institutions in the Global Financial Crisis - Free Essay Example

Sample details Pages: 10 Words: 3069 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? This essay discusses about the global financial crisis that struck United States. It will look at what measures did US government took to protect these financial institutions. Then it will analyze shareholder and stakeholder models of corporate social responsibility, then relate this theory with the situation. Next it will discuss whether US governments action could be justified from either or both of these models and it will talk about the short and long term consequences of government intervention. And in conclusion it will discuss whether actions taken by US government is best for society or not. The global financial crisis all started back in 1977, when Community Reinvestment Act was passed by 95th US Congress and signed into law by president Jimmy Carter (Busy Times, 2008). It was designed to encourage commercial banks to meet the needs of borrowers in all segments of the communities, including low-income neighborhoods (Busy Times, 2008) Then initially led by very low interest rate regime during Alan Greenspans era, 2000 2006, it allows homebuyers to take up mortgage with low interest as it allow financial institution to generate income growth, and one of it is subprime lending, practice of making loans to borrower who do not qualify for market interest rates of traditional housing mortgages cause it had problems with their credit history or the credibility to prove they had enough income to support the loan payment (Busy Times, 2008). Through this, borrowers with bad credit history were able to get a mortgage loan, even borrowers with no income, job and ability to repay; consequently it decreases the lending standards, as shown below (Busy Times, 2008). With this situation, 2nd tier institutions were lending money to homeowners, and then securitize the assets and sell it to major US financial institutions including many investment banks, and those investment banks sold it to investors (Busy Times, 2008). This cycle allow bank to earn extra income for the sale, consequently this let to a sharp rise in household debt, graph 1 (Busy Times, 2008). At first it was not a problem cause house price kept growing for years, graph 2, thus borrower could not repay the loan, bank could always foreclose mortgage and sell the collateral (the house) at a higher price (Busy Times, 2008). - Graph 1 Household Debts (APRA, 2008) Graph 2 House Price (APRA, 2008) - But as housing affordability fell, housing prices rose more than disposable income, this meant people were not up to meet the test of subprime, therefore banks income would fall due to lower volume of loans, but there were unrealistic expectations of asset growth in housing (Busy Times, 2008). Housing prices starts to fall, and more and more people defaulted, so now there are more houses in the market than buyers, which causes housing prices to fall even further (Busy Times, 2008), which mark the start of the global financial crisis. Global Financial Crisis initially started in United States, and United States being a super power country, brings a huge impact to the rest of the financial world. Trying to fix this, United States government responded by providing some solutions, one of it is Troubled Asset Relief Program (TARP). The Troubled Asset Relief Program (TARP) set up under the Emergency Economic Stabilization Act, 2008 (Ghosh, S. Mohamed, S., 2010), authorized the US Treasury Secretary a total of $700 billion to establish TARP (Ghosh, S. Mohamed, S., 2010). TARP provides wide raging powers to US Treasury secretary to purchase, manage and sell troubled assets held by financial institutions, and to sell or enter into securities, loans, repurchase transaction or other financial transactions with respect to any troubled asset purchased under the Act (Ghosh, S. Mohamed, S., 2010),. Under TARP, bank, thrifts, credit unions, broker dealers and insurance companies are deemed as financial institutions, but central bank or i nstitution that is owned by foreign government is not deemed as financial institution (Ghosh, S. Mohamed, S., 2010),. And as for troubled assets, it include residential, commercial mortgages, securities, obligations and other instruments based on related to such mortgages, in each case originated or issued on or prior to March 14, 2008 as defined by the Act (Ghosh, S. Mohamed, S., 2010). TARP was originally intended to be a lending programme and one that would increase liquidity by encouraging the flow of credit between the banks and from banks to customers (US treasury, 2008a). The idea was to enable federal government to obtain up to US$700 billion of illiquid mortgage backed securities (MBS) and assets backed securities (ABS) and thereby lubricate secondary mortgage markets (US Treasury, 2008a). TARP was also design to minimize losses of financial institutions owing the toxic assets and thereby, inducing credit growth (Ghosh, S. Mohamed, S., 2010), Economic Stabilization Ac t, 2008, states the objective of TARP, is to provide stability to US financial system, preventing disruption in economy at large and financial system and protect US taxpayer (Ghosh, S. Mohamed, S., 2010), The Act also offers setting up of Troubled Assets Insurance Financing Fund (TAIFF), the purpose is providing financial institutions the chance to purchase insurance from government to guarantee their troubled assets (Ghosh, S. Mohamed, S., 2010). But conversely, in about five weeks, Treasury was suppose to buy those toxic assets off the balance sheets of the bank and financial institutions, but instead the Treasury bought non voting preferred stock from banks and institutions through investing TARP funds in them (US Treasury, 2008d). Cause of that, TARP has failed to ensure liquidity, repair confidence, build trusts in the banking system, redress the issues of encouraging lending to homeowners, counter massive foreclosures and contraction in housing market and stop house prices from spiraling downwards (Congress Oversight Panel Report, 2009c; Barr, 2008; McIntyre, 2009). The first tranche of $250 billion TARP money was used to pump in $167 billion in 87 banks in exchange for preferred stock and warrants (US Treasury, 2008e). Next it went to AIG, about $40 billion (US Treasury, 2008f), then to Citibank, about $45 billion in exchange for preferred stocks and warrants (Ericson et al., 2009). As in Wall Street Journal, it discuss that U.S. government made a bail out as of American International Group Inc. (AIG) as it injects $85 billion to the firm, this show the intensity of its concerns about the danger of AIG collapsing to the financial system (Kartnitschnig, M. et a, 2008). The decision was difficult one, as federal government had been strongly resisting overtures from AIG for an emergency loan or intervention that would prevent the insurer from falling into bankruptcy (Kartnitschnig, M. et a, 2008). Cause just a week before, government decided not to intervene to help Lehman Brothers Holdings Inc, as a result it went bankruptcy, but this time government decided AIG was truly too big to fail (Kartnitschnig, M. et a, 2008). U.S. government also took over mortgage lending giants Fannie Mae and Freddie Mac as the teetered near collapse, another Wall Street giants, Merrill Lynch Co agreed to self it self to the Bank of America Corp (Kartnitschnig, M. et a, 2008). In the end, U.S. negotiators negotiate a proposal that could help both sides, which the Federal will lend $85 billion to AIG and in return U.S. government would be entitled to 79.9% equity stakes in form of warrants (equity participation notes) and the two year loan will have Libor (London interbank offered rate) + 8.5% interest rate (Kartnitschnig, M. et a, 2008). Shareholder theory suggest that business are just arrangements by which shareholders advance capital to managers to be utilized for specified ends and for receive an ownership interest in the venture (Beauchamp et al, 2009,p.66). In this perspective, managers perform as agent for shareholders, though bound by agency relationship to do so exclusively for the purposes of their shareholder principle (Beauchamp et al, 2009, p.66). This fiduciary relationship implies that managers does not have the obligation to expand business resources in ways that are not authorized by shareholders, despite presence of societal benefits from doing so (Beauchamp et al, 2009, p.66). However, both shareholders and managers are free to use their private funds for charitable or socially beneficial project, but when performing as officers of the business, managers have the duty not to divert business resources away from the intention of the shareholders, and managers, him or herself are obligated to follow legal directions of the shareholders and are required to maximize shareholder financial returns (Beauchamp et al, 2009, p.66). Nevertheless, it does not state that managers to ignore ethical constrai nts in pursuit of profits, rather it make certain managers are compelled to pursue profits by all legal and non deceptive means (Beauchamp et al, 2009,p.66) Adam Smiths invisible hand argument state the market is efficient if everyone is allowed to pursue Conversely, shareholder theory has been looked from two different perspectives, which are consequentialist and deontological. Consequentialist, argue that businesses or businesspersons does not have any social responsibilities, other than to legally and honestly maximize profits of the firms (Beauchamp et al, 2009,p.67). Deontological side; argue that based on observation, shareholders transfer their funds to business managers on the provision, those funds are used on their wishes (Beauchamp et al, 2009,p.67). If managers accepted those funds on that specific circumstance, they are not allowed to spend it to accomplish social goals, other than authorized by shareholders, and if they did without authorization, they would be viola ting their agreement and spending other peoples money without their concern (Beauchamp et al, 2009,p.67). Stakeholder theory, a theory of organizational management and business ethics that addresses morals and values in managing an organization (Philip et al, 2003), as in the definition above, the theory itself is divided into two parts, organizational management and business ethics. The organizational management side is known as Empirical theory of management and the business ethics as Normative theory of business ethics. As in this essay, it will focus on the Normative theory of business ethics. Empirical theory of management just discuss about effective managements are required for balancing consideration of and attention to the legitimate interest of all stakeholders, anyone who has stake on firm (Beauchamp et al, 2009,p.69). Normative theory in the other hand, argue, regardless whether stakeholder management leads to improved financial performance, managers should manage the business for the benefit of all stakeholders (Beauchamp et al, 2009,p.69). It views firms not as a mechanism for increasing stockholders returns, rather as a vehicle managing stakeholder interests and sees management as having a fiduciary relationship not just to stockholders, but all stakeholders (Beauchamp et al, 2009,p.69). As a result, it guides management to give equal interest to all stakeholder (Beauchamp et al, 2009,p.70), therefore in this normative form, stakeholder theory imply business have true social responsibilities (Beauchamp et al, 2009,p.70) But normative theory and empirical theory agree on one thing, the best way to enhance the stakeholders return on their investment is to pay attention to the legitimate interests of all stakeholders (Beauchamp et al, 2009,p.69). Stakeholder theory holds that managements fundamental obligation is not to maximize the firms financial success, but to ensure its survival by balancing the conflicting claims of multiple stake holders (Beauchamp et al, 2009,p.69). Meeting this obligation, act accordance to two of stakeholder management must be done, which are, principal of corporate legitimacy and stakeholder fiduciary duty. Principle of corporate legitimacy, the corporation should be managed for the benefit of its stakeholders: its customers, suppliers, owners, employees, and the local communities(Beauchamp et al, 2009,p.70). The rights of these groups must be ensured and, further, the group must participate, in some sense, in decisions that substantially affect their welfare (Beauchamp et al, 2009,p.70) Stakeholder fiduciary duty, management bears a fiduciary relationship to stakeholders and to the corporation as an abstract entity, which must act in the interests of the stakeholders as their agent, and it must act in the interests of the corporation to ensure the survival of the firm, safeguarding the long term stakes of each group(Beauchamp et al, 2009,p.70). As to shareholder theory, the act ions of the corporations comply with this theory, as corporations look for sources of income through securitization process. The cycle begin with institutions lending money to homeowner, then securitizing the assets and selling it to major U.S. financial institutions including many investment banks, and finally those investment sell it to investors (Beauchamp et al, 2009, p.66). This allow bank to earn extra income for sale, and generate a massive income (Beauchamp et al, 2009, p.66). By doing so, it comply with the shareholder theory, as it argue that businesses or businesspersons does not have any social responsibilities, other than to legally and honestly maximize profits of the firms, but this theory is best for short term (Beauchamp et al, 2009, p.67). Since the theory emphasize on best to maximize profit, banks lower their standards of lending, not thinking thoroughly the consequences, banks were able to lend more and to securitize more, which can generate more income (Beaucha mp et al, 2009, p.66). At first it was not a problem at all, as if borrower could not repay loan, bank could always foreclose mortgage and sell collateral (house) at a higher price, cause house price kept growing for years (Beauchamp et al, 2009, p.67). But as years past by, housing affordability fell, since supply is less then demand, to be able to equalize it, price need to be put up (Beauchamp et al, 2009, p.66). As housing price rose more than disposable income, more people were not up to meet the test of subprime, for that reason banks income would fall due to lower volume of loans (Beauchamp et al, 2009, p.67). But due to unrealistic expectations of asset growth in housing, housing prices start to fall and more and more people defaulted, so now there is more supply than demand (Beauchamp et al, 2009, p.67). To equalize this, price needs to be put down, soon as housing prices fall down, it marked the start of the global financial crisis. Fiduciary duty of a shareholder theor y is to maximize their income for their shareholder, and neglecting other factors (Beauchamp et al, 2009, p.67). But in stakeholder theory, the fiduciary duty is to act in the interest of the stakeholder and must act in the interest of the corporations to ensure survival of the firm, safeguarding long-term stakes of each group and it holds that managements fundamental obligation is not to maximize the firms financial success, but to ensure its survival by balancing the conflicting claims of multiple stakeholders (Beauchamp et al, 2009, p.67). It also view firms not as mechanism for increasing stockholders returns, rather as a vehicle managing stakeholder interests and sees management as having a fiduciary relationship not just to stockholders, but all stakeholders (Beauchamp et al, 2009, p.66). As a result, it guides management to give equal interest to all stakeholder, therefore in this normative form, stakeholder theory imply business have true social responsibilities (Beauchamp e t al, 2009, p.67). It also suggested, corporation should be managed for the benefit of its stakeholders: its customers, suppliers, owners, employees, and the local communities(Beauchamp et al, 2009,p.70). The rights of these groups must be ensured and, further, the group must participate, in some sense, in decisions that substantially affect their welfare (Beauchamp et al, 2009,p.69). As what the U.S. government does, it complies with this theory. U.S. government intervenes with this situation, to help stabilize the financial system, cause if not, the financial crisis could have a worsen affect and everyone would suffer more. The U.S. government intervenes through TARP (Troubled Asset Relief Program). Those funds in TARP were used to pump in $167 billion in 87 banks in exchange for preferred stock and warrants (US Treasury, 2008e). Then to AIG, $40 billion (US Treasury 2008,f) then Citibank, $45 billion in exchange for preferred stocks and warrants (Ericson et al., 2009). U.S. go vernment also took over mortgage lending giants Fannie Mae and Freddie Mac as the teetered near collapse (Kartnitschnig, M. et al, 2008). The U.S. government also offers setting up of Troubled Assets Insurance Financing Fund (TAIFF), to help financial institutions have a chance to purchase insurance from government to guarantee their troubled assets (Ghosh, S. Mohamed, S., 2010). By those actions, it could show that US government is complying with the stakeholder theory. As the US government intervenes with those funds, it shows an act in interest of the corporations to ensure survival of the firm, safeguarding long term stakes of each group, and holds that managements fundamental obligation not to maximize the firms financial success, but to ensure its survival by balancing the conflicting claims of multiple stakeholder (Kartnitschnig, M. et al, 2008). Although the fundamental obligation was not to maximize firms financial success, but there fiduciary duty also stated to act in the interest of shareholder, and shareholder does want returns on their investment. Therefore the U.S. lend the $85 billion to AIG, but in return to U.S. government, U.S. government would be entitled to 79.9 equity stakes in form of warrants and 2 year loan will have Libor + 8.5% interest rate (Kartnitschnig, M. et a, 2008). This show both short term and long term consequences of this government intervention generate a positive outcome, as for the short term, US government sustain those companies from bankruptcy, so it does not worsen the financial crisis, hurting more people in their financial situation. For the long term, the US government benefit from the interest rate that they get from those banks. But from bailouts, it could also bring negative short-term effects, such as higher taxes, bigger government and lower salaries (Taylor, M., 2007). As well as for long term, it could bring negative effects, such as government abandoning fiscal discipline, asset bubble or inflation could occur and commodities bubble driven by negative real interest rate (Peng, B.,2008). In conclusion, this essay has discussed about the global financial crisis that struck United States. It discussed the measures that US government took to protect these financial institutions, such as TARP or TAIFF. It also have discussed and related shareholder and stakeholder models of corporate social responsibility with the Global Financial Crisis, by justifying US government action from either of these models and analyzing the short and long term consequences of the government intervention, and the conclusion that the action that US government has taken for this current situation was best for society, as if US government have not taken those steps. It could have worsen the financial crisis and have a greater impact to others countries, just like a domino affects. Cause United States is a super power country, which have a lot of impacts to other countries in this world. By taking those s teps, it was best for this society. Don’t waste time! Our writers will create an original "US Institutions in the Global Financial Crisis" essay for you Create order