Shadow Banking System Case Study

Shadow Banking System Case Study
The Financial Stability Board (FSB) to improve recommendations to support the oversight and instruction of the shadow banking system by mid–2011
in collaboration with other international standard setting bodies. The FSB formed a task force to develop initial recommendations for discussion that
would set out potential approaches for monitoring the shadow banking system; and explore possible regulatory measures to address the systemic risk
and regulatory arbitrage concerns posed by the shadow banking system.
The shadow banking system can be approximately defined as "the system of credit intermediation that includes objects and activities outside the regular
banking system". Its form is correlated to the way in which the banking sector and the
... Get more on HelpWriting.net ...

The Ethics Of Implicit Bias
"You are a racist!" is a phrase that produces anxiety and triggers defensive mindsets, especially in work environments. Are you racist? Are you sexist?
Are you bias? The answers to these questions might not be as stress–free to answer as you believe. Is it possible to be biased without the intent to be
biased? Yes. There are two different types of biases; explicitbias and implicit bias. Explicit bias is when you consciously believe that certain races,
genders, or religions are inferior. Implicit bias is when you think that you are unbiased but actually perform unconscious bias actions. Recognizing
implicit bias is no easy undertaking which is why there have been theoretical attempts to avert implicit bias before it materializes. In the modern
business world, unintentional prejudiced actions happen every day. In his paper "Context and the Ethics of Implicit Bias," Michael Brownstein
attempts to find a solution to these critical issues. In this essay, I will attempt to explain the theories behind the three 'ethics of implicit bias' and what
problems arise in each situation according to Brownstein. I will then describe the advanced contextualist approach of Brownstein's and why I consider
his strategy to be the most effective in business settings through my own personal experiences. First I will go over the three strategies. In his paper
"Context and the Ethics of Implicit Bias," Michael Brownstein lists three approaches used to battle implicit bias. The three 'ethics of

Summary Of Bryan Caplan 's Book, The Topic Of Rational...
The topic that I have chosen regarding Bryan Caplan's book is the topic of rational ignorance. Bryan Caplan defines rational ignorance as a voter's
belief that one vote has a small probability of changing the outcome of an election. Several voters are rationally ignorant, myself included, which
after reading The Myth of the Rational Voter: Why Democracies Choose Bad Policies I have to ask myself why even vote at all other than it is
considered by some to be a civic duty. If voters are so ignorant then it would be impossible for them to even make an attempt at an informed decision.
Informed decisions might be only reached by a small percentage of the population, but because of the miracle of aggregation a democracy can work.
According to Caplan aggregation can only work if the voters do not make systematic errors (Caplan pg.7). That is their errors have to be random.
Caplan uses the analogy on page 7 that if the voters have the choice between a Unabomber and another candidate the Unabomber will win only 50
percent of the time assuming there is 100 percent voter ignorance (Caplan pg.7). However, in a democracy there is no such thing as 100 percent
voter ignorance so the Unabomber's chances of winning 50 percent of the time will drop even lower. Systematically biased views are held by those
voters who are considered to be rationally irrational. To empirically prove the systematical biased views Caplan uses the results from the Survey of
Americans and Economists on the

Application Of Ich Q9 As A Systemic Process For The...
Introduction
ICH Q9 (Quality Risk Management–QRM) is a systemic process for the assessment, control, communication and risk review to the quality of the
medicinal product. Application of QRM can be done by both proactively and retrospectively. It was adopted by European Union and PIC/SвЂЎ in
Annex 20 of EU and PIC/S GMP guides. In pharmaceutical industry, Quality System is important criteria and QRM is a valuable component of an
effective quality system.
The QRM should ensure that the evaluation of the quality risk is based on some criteria like knowledge about science, experience with the different
process and ultimately links to the protection of patient. It also ensures the effort level, formality and documentation of the QRM process is appropriate
with the level of risk. Product quality should be maintained throughout the product lifecycle such that the attributes as it is important to the quality of
the drug product which remain consistent with those used in the clinical studies. It can further ensure the quality of drug product to the patient by
providing a proactive means to identify and control potential quality issues during development and manufacturing. It can facilitate better and more
informed decisions, and can beneficially affect the extent and level of direct regulatory oversight.
Guidance to ICH Q9 provides principles and tools for QRM which can be applied to different aspects of pharmaceutical quality includes development,
manufacturing, inspection and

Outsourcing : Is Outsourcing The Case Of Banks?
What is Outsourcing in case of Banks? (As per RBI Publication)
The world everywhere, banks are increasingly for outsourcing as an approach of both reducing asking price and accessing specialist gift, not ready
forthcoming drawn internally and achieving dire aims. 'Outsourcing ' take care of be marked as a bank 's evaluate of a third satisfaction (either a born
with entity within a corporate everyone or an entity that is exterior to the corporate group) to dig activities on a continuing reality that would normally
be undertaken by the thrift itself, soon or in the future.
'Continuing basis would reply agreements for a restrictive period.
In keeping by generally told of this international that a way, it is observed, that banks in India aside from have been chiefly outsourcing distinctive
activities. Needles to defend, a well–known outsourcing, procreate banks as a result of like a clay pigeon to at variance risks as busy in para 1.3.
Further, the outsourcing activities are to be brought within regulatory field of reference and the interests of the customer's ised responsible for be
protected.
It is opposite this mise en scene, that Reserve Bank of India has deemed it proficient to express in apartment a reside of guidelines to try, the risks
that building and loan association would be exposed to in a milieu of fledgling outsourcing reaction and to prove that the bank confused and the
Reserve Bank of India have secure to all books, records and impression available by all of

Financial Crisis of 2008
The Financial Crisis of 2008 was the worst financial crisis since the Great Depression, however a lot of American's want tougher law of be enforced
against executives and companies they think started the mess (Jost/Misconduct). Civil charges have been brought up against major banks for
misleading investors, but a federal judge rejected a proposed settlement saying it was too lenient (Jost/Misconduct). The flood of subprime mortgages
roiling the housing market in the U.S. is also causing the worldwide credit crisis (Jost/Crisis). Investment banks everywhere are taking billion–dollar
losses, forcing them to revalue their belongings (Jost/crisis). This crisis started under the surface for many years then emerged into the public in March
2008... Show more content on Helpwriting.net ...
These realities require outstanding moral integrity, political independence with their heads, and top–level technical expertise (Lagos). One way the
government looks at this financial crisis is just a symptom of a deeper crisis which is a crisis of its own.
The growing executive compensation
Manager's capitalism has replaced owner's capitalism
The failure of gatekeepers , this includes boards of directors, career politicians, auditors, and Wall Street analysts
The management of earnings
These are the Bogle cities particular issues that caused the financial crisis. Mark Roeder, a former executive at the UBS, conducted an analysis that
suggested that large–scaled momentum "played a pivotal role" in the global financial crisis, also known as the financial crisis of 2008 (Lagos).
Involvement of Private Sector The Reserve Bank has been verbal that they are uncomfortable about wealthy Asian governments using savings when
they use the savings to shop around for assets (Saulwick). High levels of public sector involvement could hurt financial markets and the returns
countries are earning on their foreign investments (Saulwick). Dr. Lowe, the person that said this, argued that the private sector in Asian countries
needs to take on a greater role when it comes to overseas investment. He also said the world was moving unavoidably towards financial institutions in

Mat 540 Week 2 Npv
WEEK 2 NPV, PBP, IRR, EAC( equivalent annual cash flow)
NPV: If NPV>0, accept the project [which are expected to add value to the firm], otherwise don't bother.
Reminders
Rule 1: Only cash flow is relevant
Cash flow в‰ accounting income
In an income statement, profit is shown as it is earned rather than when the company and its customers get around to paying their bills.
Cash outflows are sorted into two categories: 1) current expenses, deducted when calculating income; and 2) capital expenses, depreciated over several
years.
Always estimate cash flows on an after–tax basis; taxes should be discounted from their actual payment date
Rule2: Estimate cash flows on an incremental basis
Do not confuse average with ... Show more content on Helpwriting.net ...
EAC: Equivalent Annual Cash Flow The cash flow per period with the same present value as the actual cash flow as the project
Markowitz Portfolio Theory
Conditions:
1. If returns are normally distributed, expected return and standard deviation are the only two measures that an investor need consider.
2. Combining stocks into portfolios can reduce standard deviation, below the level obtained from a simple weighted average calculation.
3. Correlation coefficients make this possible.
4. The various weighted combinations of stocks that create this standard deviations constitute the set of efficient portfolios.
The expected return of the portfolio: E(Rp)=w1E(R1)+w2E(R2)
The standard deviation of the portfolio: Пѓp=w12Пѓ12+w22Пѓ12+w1w2ПЃ12Пѓ1Пѓ2
The key to diversification is ПЃ
The gain from diversification depends on how highly the stocks are correlated.
Unsystematic risk
1. Diversifiable risk; "Unique risk"; "Asset–specific risk"
2. Risk factors that affect a limited number of assets
3. Risk that can be eliminated by combining assets into portfolios

Examples: labour strikes, part shortages, etc.
Unsystematic risk
1. Diversifiable risk; "Unique risk"; "Asset–specific risk"
2. Risk factors that affect a limited number of assets
3. Risk that can be eliminated by combining assets into portfolios
Examples: labour strikes, part shortages, etc.
If ПЃ = 1.0, there is no gain in diversification. If ПЃ =в€’1.0, the portfolio would have no risk

The Current System Of Retention Elections
While H.B. 1336 is substantially better than the current system, it is not perfect. One shortcoming is that it only applies to the appellate level courts,
which means that the majority of judges in the state will still be elected. While this is not ideal, cases decided by these elected judges can be appealed
to the appointed courts, which should mitigate the negative influence of elected judges. Also, from a practical standpoint, requiring the nominating
commission to review applications for local courts is probably both inefficient and unnecessary. Ideally a second wave of reforms would eventually
establish regional nominating commissions and do away with judicial elections entirely, but it makes sense to see how the proposal works on the
statewide level before implementing a localized version.
Another shortcoming of the proposed plan is that maintains the existing system of retention elections. Retention elections are special elections in which
voters are asked whether or not the incumbent judge should serve for another term. If the majority of votes are against the judge, a new judge is
appointed through the nominating process. While these elections are less than ideal, they are better than several of their alternatives.
The major drawback of retention elections is that there is significant evidence that judges facing retention elections are likely to be biased toward
popular outcomes. According to one study, "retention elections create pressure for judges to cater to

Narrative Therapy
Narrative therapy is a family counseling approach that continues to evolve and gain popularity in the field of therapy (Chang & Nylund, 2013). Given
the continued strides of narrative therapy this is a family counseling approach worthy of research. This paper will detail the beginnings of narrative
therapy and those responsible for its development. Although White and Epston are the leading figures of narrative therapy many individuals with
varying backgrounds and beliefs influenced their thinking (Biggs & Hinton–Bayre, 2008).
Using several resources such as Goldenberg & Goldenberg (2013) the key techniques and concepts of narrative therapy will be examined along with
noted similarities and differences when compared to other leading ... Show more content on Helpwriting.net ...
411). Clients can also "...team up and begin changing their relationship to the problem..." (p. 411).
Noted similarities/dissimilarities
Both similarities and differences exist between narrative therapy and other leading therapies: psychodynamic, structural, behavioral, and cognitive, to
name a few. As mentioned previously narrative therapy is part of the postmodern and poststructual thought. The poststructual thought challenges the
need of searching for underlying "truth". However, other leading therapies hold a structural view and believe there are "...deeper elements buried
within the individual..." these elements can be explored and interpreted so that "truth" about the meanings of the behavior can be revealed (Goldenberg
& Goldenberg, 2013, p. 397). This would explain why narrative therapy does not attempt to uncover or diagnose client's motives, drives, or ego
strengths (Goldenberg & Goldenberg, 2013). Narrative therapists believe "...the exploration of subjective experiences–hopes, desires, passions,
purposes..." contribute to why people behave as they do (p.398).
There are also differences in how the theories view the family structure. For example, structural family therapy is interested in how the family works as
a system; how they interact, communicate, they pay attention to transactional and dysfunctional patterns (Goldenberg & Goldenberg, 2013). Narrative
therapists devote no time to discovering family patterns, exploring family dynamics, or searching for past

The Family Systems Theory During The Mid 20th Century
Murray Bowen, an American psychiatrist, began developing what would become known as the family systems theory during the mid–20th century. He
believed that the family was an emotional unit and that it could be best understood by looking not just at current family interactions but the interactions
of prior generations as well (Helm, 2009). His focus was on using theory, not therapy, to treat the patient and the cornerstone of that theory is that
human behavior is based on a person being able to "maintain intimacy with loved ones while differentiating themselves sufficiently as individuals so as
not to be swept up by what is transpiring within the family" (p. 205). At both the Menninger Clinic and the National Institute of Mental Health, Bowen
became interested in schizophrenia specifically in relation to the mother and child. He soon realized that he needed to focus on the entire family rather
than just mother and child to provide a more accurate picture for his research. The Bowen Family Systems theory was born of this realization. The
basic premise of the family systems theory is that the therapist cannot fully understand or successfully treat the client without first grasping how that
individual functions within their family system. To this end, Bowen postulated eight interlocking concepts for the family as an emotional unit and they
are differentiation of self, triangles, nuclear family emotional process, family projection process, emotional cutoff, multigenerational

Lupus Erythematosus Research Papers
Systemic Lupus Erythematosus What is Systemic Lupus Erythematosus? Systemic Lupus Erythematosus – otherwise known as lupus – is an
inflammatory autoimmune condition and typically affects women of reproductive age and causes joint pain. Other manifestations of the disease
include fatigue, rash, dry eyes/mouth, inflammation in other parts of the body, and blood cell abnormalities. One of the most worrisome complications
of lupus is kidney disease, which is a common cause of dialysis dependence in young women. Lupus is also associated with an increased risk of heart
attack and stroke. Since this condition may have devastating complications and can affect quality of life, it is important to become educated about its
symptoms, diagnosis, and treatment.... Show more content on Helpwriting.net ...
Tendons and bursa may also become inflamed, causing pain with joint movement. The joint pain in lupus is usually worse in the morning and
improves throughout the day. Inflammation of the lining of the heart (pericarditis) or abdominal cavity (peritonitis) often results in chest pain and
abdominal pain, respectively. Patients with kidney involvement (lupus nephritis) may develop frothy urine, swelling in the legs, and high blood
pressure. Severe disease can lead to kidney failure. Patient with lupus are also at increased risk for heart attack, stroke, and blood clots in the legs and
lungs. How is lupus diagnosed? Lupus is diagnosed based on the patient's symptoms, physical examination findings, and laboratory tests. Your doctor
will usually check a comprehensive metabolic panel to evaluate your kidney and liver function. In addition, they will also typically check a complete
blood count, ESR (erythrocyte sedimentation rate), CRP (C–reactive protein), and complement levels. Urine analysis is commonly ordered to evaluate
for protein and other urine abnormalities. Women of childbearing age are also tested with a urine pregnancy screen. Certain antibodies in the blood are
highly suggestive of lupus. These typically include: ANA (anti–nuclear

The Sixth Amendment And The Sixth Amendment
Introduction & Literature Review
Questions concerning pretrial exposure center on the tension between two guaranteed rights in the United States, the First Amendment and the Sixth
Amendment to the Constitution. The First Amendment allows the press to print, while the Sixth Amendment promises a speedy and public trial, that
an unbiased and impartial panel directs. When the press exposes a current investigation, including prior convictions, or admissions, a panel, or select
representatives on a panel, would be exposed. In Ruva & Guenther's (2017) experiment, researchers examined how a panel's memories, evidence
interpretations, perceptions and guilt decisions varied when pretrial exposure was present. It was determined that representatives on a panel who were
exposed would pass their bias onto other representatives not exposed prior. Given the strong constitutional protections that the press possesses, courts
need to manage chances where pretrial exposure is present.
Purpose & Research Question
In dismissing representatives on a panel, we assume that pretrial exposure determines their conscious decisions. With that being said, we expect a
representative on a panel to know that pretrial exposure could determine their decisions, and to know how to isolate this in deliberation. Dating back to
Nisbett and Wilson's experiment in the 1970's, decisions were determined in the unconscious, but what determined these decisions or biases, even when
biases in decisions were mentioned, was unsure, (Newell & Shanks, 2014). In other words, one knows that biases could determine decisions, but not
theirs. This so–called bias blind spot is common in deliberation. The ultimate question is, what is there to do concerning pretrial exposure while
selecting an unbiased and impartial panel?
Proposition
Voir dire is intended to determine whether representatives on a panel were exposed to pretrial exposure. Dismissing representatives on a panel who
were exposed to pretrial bias is unrealistic. To combat issues concerning pretrial exposure, as well as bias, counsel will de–bias mock representatives,
as a means to de–bias perceptions and decisions, as a solution. De–biasing will result in more reasoned and less automatic decisions. With

Diversification: A Technique that Reduces Risk
Diversification is a technique that reduces risk by allocating investment among various financial instruments, industries and other categories it aims to
maximize return by investing in different arias that would each react differently to the same event. Most investment professional agree that although it
does not guarantee against loss, diversification is the most important component of reaching long financial goals while minimizing risk.
Different types of risk–
Investors confront two main types of risk when investing
1.Undiversifiable –This type of risk is commonly known as systematic or market risk. This risk is associated with each and every company. Causes
are things like inflation ray, exchange ray, political instability, entrust rate. This type of risk is not specific to a particular company or industry and it
cannot be eliminated or reduced through diversification, its just a type of a risk that investors must accept.
2.Diversifiable– This type of risk is opposite to systematic risk known as unsystematic risk and is specific to a company, industry, market, economy
this can be reduced through diversification the most common sources are business risk and financial risk. So the main motive is to invest in different
assets so that they will not all be affected the same way by market events.
a)The economy of scale and economy of scope needs to diversification. Diversifying significantly helps in growing a firm's ability to grow more
rapidly. The main reason

The Role Of Periodontitis As A Risk Factor For Systemic...
Introduction
In this research paper, I will be writing about Periodontitis as a risk factor for Systemic Diseases. It has been known that some systemic diseases
alter the presentation and progression of periodontal disease. Evidence suggests that periodontal disease may play a role as a risk factor in developing
and management of a serious systemic disease. Periodontal infections have been implicated in cardiovascular disease, preterm and low– birth weight
infants, and bacterial pneumonia. In addition, it appears to be more difficult to control non– insulin dependent diabetes in patients with severe
periodontitis. The exact mechanisms of these interrelationships have not been determined, our understanding of these increases in risk is ... Show more
content on Helpwriting.net ...
Poor periodontal health is a factor known to precede many heart attacks, and specific pathogens are associated with coronary heart disease. Oral
Manifestations
Mucosal ulceration, dental disease and other tooth abnormalities, oral soft tissue tumors, periodontal disease, bone pathology, and orofacial pain may be
directly related to or confounded by underlying systemic disease. Numerous orofacial signs and symptoms are associated with systemic disease. The
most serious problems of concern to dental professionals include caries, oral ulcers, mucosal erythema and sloughing, gingival bleeding and
hypertrophy, soft tissue exophytic masses, dry mouth, facial pain, movement disorders, tooth abnormalities, abnormal dental wear, tooth/mucosal
discoloration, developmental and bone pathology. ( Burgess, 2017) Once diagnosed, most periodontal diseases can be treated successfully. The
therapeutic goals in periodontal disease are: first, to alter or eliminate the origin of the microbes as well as contributing risk factors, thereby preventing
the progression of the disease and preserving the healthy state of the periodontium. Second, the recurrence of periodontitis must be prevented. Finally,
in severe cases, regeneration of the periodontal attachments must be attempted. The first

Finance Crisis And Its Effects On The Financial Crisis
After the breakout of finance crisis, leaders of the G–20 vowed to take control of the derivative market and finally pass the BASEL III. All the
participants including the bankпјЊ speculators, exchange platform and institutions, regulators, the offices, political leaders and the households who
had a harmful effect from the financial crisis require the reassurance for such a crisis to never occur again. Society as a whole suffered a loss from it,
because the wide spread fear and constraint of consumption resulted in higher than expected rates of unemployment, deflation was expected and
occurred drastically. Investment was strained down significantly.
There are both counterparty and transparency risks that contributed to the derivative ... Show more content on Helpwriting.net ...
For individual speculators and the managers of financial firms, they have incentives to increase profit where they prefer more risk investment when
counterparties and others obey the rules to keep a sustainable marker. Therefore, the transparency policy had been implemented to expose more
information around prices and volumes combined with the standardising policy of derivatives contracts, which also increase market efficiency and
liquidity. The main regulations introduced are as follows:
Greater standardisation of OTC derivatives contracts: Greater standardisation would enhance the efficiency of operational processes; facilitate the
increased use of central counterparty (CCP) clearing and trading on organised trading platform to support greater comparability of trade information.
By working with international regulators and the industry to take steps in identifying and agreeing which products can be further standardised, both in
terms of underlying contract terms and operational processes where this must be implemented on a timely basis.
More robust counterparty risk management. All OTC derivative trades, whether or not centrally cleared, should be subject to robust arrangements to
mitigate counterparty risk. For all financial firms this should be through the use of CCP clearing for clearing eligible products. For trades which are
not centrally cleared these should be subject to robust bilateral collateralisation arrangements and appropriate risk capital

A Major Systemic Risk Issue On Wall Street
With what started as one lender's possibility of going bankrupt soon began to look like a major systemic risk issue on Wall Street. United States
Government Leaders were left with tough decisions. Treasury Secretary Henry M. Paulson Jr had some of the toughest decisions to make during this
time, make the lenders pay for the mistakes and go bankrupt or have the government assist them and provide them in order to stop what looked to be
another great depression. Moral hazard, a situation in which a party is insulated from the consequences of its actions; thus protected, it has no incentive
to behave differently, (Ahrens, 2008) was often the topic of discussion and reasoning behind his decisions for Paulson. Originally when the first lender
Bear Sterns became in trouble the reaction from Treasurer Secretary Henry Paulson was to let them fail and deal with the outcome on their own. After
further review of the dealings Bear Stern had with several other financial intuitions, it soon became clear that if this happened several other lenders
would soon follow in bankruptcy. Henry Paulson and the United States Federal Government decided that this was something they could not let
happened and stepped in. The United States government stepped in and was able to work out a deal with JP Morgan to buy out Bear Sterns, hoping
to stop the systemic risks in other lenders on Wall Street. Henry Paulson wanted to make sure it was know that this was not a decision that was to be
taken lightly

Financial Crisis During 2008 Hit The Economy, People Panicked
Ewelina Cachro
Professor Bateman
Fin 320
3 November 2014
Assignment 2 When the financial crisis during 2008 hit the economy, people panicked. In an attempt to stabilize the market, the government took
action. The various actions taken in 2008 by the Department of the Treasury and the Federal Reserve Bank, as well as the new regulations proposed
and implemented by the Securities and Exchange Commission, were generated to reduce and mitigate the systemic risk created by the Money Market
Mutual Funds. These actions and regulations, as well as the systemic risk created, will be addressed during the upcoming paragraphs. Money Market
Mutual Funds are investments whose purpose is to provide investors with a safe place to invest. They are ... Show more content on Helpwriting.net ...
It did not matter what type of security it was; the crisis affected the entire market. However, different classes of assets are affected in different ways.
To figure out the systemic risk of a particular industry, security, or portfolio, and to see how that systemic risk compares to the overall market's
systemic risk, investors and others use beta.
A large financial firm presents systemic risks due to its "interconnectedness, leverage, and its tendency to finance long–term assets with short–term
debt." The systemic risk associated with Money Market Mutual Funds, became glaringly obvious when Reserve Primary Fund, a MMMF, had
"broken the buck". This drop in value of shares from $1.00 to $0.97 spread panic to other MMMFs and created the systemic risk that "the failure of a
single entity...can cause a cascading failure" of the entire financial system. Another systemic risk posed by MMMF is that associated with the
withdrawals by investors from MMMFs that would lead to a freezing of the markets. This was especially prominent in the short–term investment
markets. When $200 billion were withdrawn from "prime MMMFs", the short–term interest rates immediately spiked. This spike in short–term interest
rates posed another systemic risk in that these interest rates affect the entire market and not just one industry or entity. Another systemic risk issue that
arises from MMMFs stems from the very essence of these instruments. MMMFs attract risk–adverse

Domestic Financial Stability And The Sovereign Bank Nexus
What about domestic financial stability and the sovereign–bank nexus?
Furthermore, the pickup in sovereign bonds demand by domestic banks when foreign investor demand decreases does act as a stabilizing pillar for
sovereigns. Overall reliance on domestic banks for funding might be characterized as a low run risk, however, it could turn into a high one if there is an
accompanying increase in bank–sovereign nexus that could transfer into higher funding costs for sovereigns and larger refinancing risk. This is exactly
what was observed in the GIIPS countries of Europe during the sovereign debt crisis. Sovereigns should therefore assess the motivations of such
domestic banks for increasing their holdings of their own sovereign bonds in order to assess the risk of those banks as an investor base.
For instance, the share of sovereign debt held by banks in the Eurozone, in particular, has been more than twice in 2013 compared to that of 2007.
(Becker and Ivashina (2014a)) Such an observation is evident despite the fact that European banks incurred substantial mark–to–market losses in 2009
on their peripheral sovereign holdings (Greece, Italy, Ireland, Portugal, Spain, or so called "GIIPS") and that in 2011 alone, banks on average lost 40
percent of their market value in an effort to increase regulatory capital ratios. (Acharya and Steffen (2014)) At the same time, banks sovereign debt
portfolios have exhibited increased home bias. (Battistini et al. (2014); Acharya and Steffen

The Federal Government Regulate The Insurance Industry
Background The federal government's role is in regulating industries is to protect consumers and the market. There is an ongoing debate on whether
the federal government should regulate the insurance industry as a result of the bailouts stemming from the Financial Crisis of 2008. Currently, state
governments regulate the insurance industry. Proponents of federal regulation reason that states are inefficient in the duty of insurance regulation.
Additionally, the federal government has economies of scale and may offer an increase in efficiency unlike state regulation. The federal government
regulates industries due to inherent systemic risk to the country's economic environment. Systemic risk is the risk of collapse of an entire financial
system or market. (SOURCE) For example, banking institutions such as Lehman Brothers, Merrell Lynch, and Goldman Sachs were major contributors
to the financial crisis in 2008 because these institutions were systemically significant to the market. The insurance industry and the core activities of
the industry, however, were not a major contributor to near–collapse of the American economy. The federal government should not regulate the
insurance industry because it does not possess a systemic risk to the market economy, states have the ability and resources to regulate, and federal
regulation would result in unnecessary costs from the federal budget.
The Insurance Industry and Systemic Risk The first initial component to what constitutes

Family and Systemic Therapies
The emergence of family and systemic therapies in the latter part of the 20th century saw something of a paradigm shift in the world of psychotherapy
and counseling. Those in the field during the 1960's and 1970's were predominantly occupied with psychodynamic, behavioural and humanistic
approaches (Corey, 2009). Theories attached to these forms of therapy emphasized the autonomy of the individual, and the capacity to engage in free,
independent choice. In therapeutic settings, much of the discussion would also typically be focused on 'cause–and–effect', in other words; seeking an
explanation for why a person was thinking, feeling or behaving in a particular manner. Less attention would be focused on the context of the
individuals' experience, and the matter of how a situation came to be as it is (Bowen, 1972).
This idea however is central to what would later become the practice of family and systemic therapies. Family therapy advocates using practices that
specifically address historical, contextual and constitutional factors, including working with all members of the extended family and wider social
network as well as coaching people to manage their constraints within their unit (Carr, 2012). Systemic therapy has its roots in family systems theory,
which was pioneered by Murray Bowen, an American psychiatrist who originally practiced within the psychoanalytic model, but later shifted his focus
to the role of family dynamics and dimensions of the family as a system during

The Dodd-Frank Wall Street Reform and Consumer Protection Act
The Dodd–Frank Wall Street Reform and Consumer Protection Act brought the most significant changes to financial regulation in the United States
since the reform that followed the Great Depression. It made changes in the American financial regulatory environment that affect all federal financial
regulatory agencies and almost every part of the nation's financial services industry. Like Glass–Steagall, the legislation passed after the Great
Depression, it sought to regulate the financial markets and make another economic crisis less likely. Banks were deregulated in 1999 by the
Gramm–Leach–Biley Act, which repealed the Glass–Steagall Act and essentially allowed for the excessive risk taken on by banks that caused the most
recent financial ... Show more content on Helpwriting.net ...
217). The Dodd–Frank Act utilizes several different measures to determine the level of systemic risk in the financial system. Regulators are encouraged
to consider the following criteria when assessing the systemic risk of a firm (pgs. 131–132): 1) The amount and nature of the company's financial
assets. 2) The amount and nature of the company's liabilities, including the degree of reliance on short–term funding. 3) The extent of the company's
leverage. 4) The extent and nature of the company's off–balance–sheet exposures. 5) The extent and nature of the company's transactions and
relationship with other financial companies 6) The company's importance as a source of credit for households, businesses, and state and local
governments and as a source of liquidity for the financial system. 7) The nature, scope, and mix of the company's activities. 8) The degree to which
the company is already regulated by one or more federal financing regulatory agencies. 9) The operation of, or ownership interest in, any clearing,
settlement, or payment business of the company. There are three challenges to regulating systematic risk: 1) Identifying and measuring the systemic
risk of financial firms 2) Developing, based on systemic risk measures, an optimal policy whose

Advantages And Disadvantages Of Tech Start-Up
The first risk came from the application of business ideas that are not validated or tested by the market. Nico, Jean–Marie, David, 05M02–07–2016,
and Holger, emphasized that most of the time, products or services developed by tech start–up not be answering any need.
Holger, circumstances that some investors or founders try to draw up an idea without any validation and with "limited" business models.
[...] For me, seen from the outside, many business ideas, I think are just.... They wanted it to work but most of the ideas that fail in the first year I
wouldn't invest in them... It takes quite a long time until you find an idea in you can really, honestly, believe in and not just, you know have your mom
telling you that you are a great singer ... Show more content on Helpwriting.net ...
Jean–Marie and Nico say that a breakdown in technology was often fatal for technology start–ups. It could either create new business opportunities or
push tech start–up to the exit gate. They emphasize the difficulty to forecast the right technology and to have a long–term vision. Tech start–up have a
limited range of vision and must most of the time; they follow what seems the most valuable to them. The severity of a systemic risk related to
technology is not mentioned in the literature by the authors. For these findings, it is possible to underline the central position of technology as a source
of risk that is difficult to mitigate
4.2.1.5Technological risks
Alma and Jim stated that in a tech start–up, having skilled employees to manage the technology was highly requested. For her, failure often appeared
when the technology became too complicated; no enough resources were allocated to it, or the team was not specialized sufficiently to control it.
Alma says:
[...] Software leads to risks, the technology is really precise and your need specialists

Johnson And Time Warner Comparison Paper
In the healthcare industry both Johnson & Johnson and Eli Lilly Company has a beta of less than 1%. This means both companies stock remain
constant on the market, regardless of the markets up and down swings. In looking at Johnson $ Johnson with a beta of .67 this means the company
stock is 33% less volatile (risky) as others in that market. Therefore, as the market prices goes up and down, it is expected that Johnson & Johnson
will be underperform by 33% when the market is up and outperform by 35% when the market is down. Both companies have a lower risk but that also
means sometimes less return. Consumers can go with cars and even cable but it difficult for individuals to go without healthcare. Healthcare (products
and services) are considered inelastic, which makes it hard for consumers to stop buying what is needed or find adequate substitutes. In comparing ...
Show more content on Helpwriting.net ...
These stock are fast growing and tend to offer a better return but is also considered a high–risk. For example, DISH beta is 1.18; therefore, it is 18%
higher than the market average. As the market and economy changes (downslopes) the demand for cable TV will decrease, as the demand
decreases so will the returns. In comparing the betas and returns for Dish and Time Warner, Time Warner has far exceed Dish on total returns and
surpassed the S&P index. Some of the reasons for this major gap, should be explained in the services and contract requirements. Although, having
cable is considered a "want" and not a "need" many families find it difficult not having cable TV in their homes. They are willing to pay for this
expense; however, due to the uncertain of the economy they want the option to cancel services without paying fees. Time Warner offer consumers a no
contract service. As the economy begins to grow consumers are willing to invest (even if temporarily) in luxuries should as cable

My Journey Within The Clinical Mental Health Program At...
Final Self–Evaluation
Although my journey within the Clinical Mental Health program at the University of Scranton has come to an end, however, my journey to become a
licensed professional counselor is still underway. As I tie up loose ends by handing in time sheets and remaining assignments, I find myself in a
reflective peaceful space. As I look back over the years that I have spent within the program perfecting my craft, I can't help but think that I am truly
blessed. It is one thing to choose a career, but it is another to answer a calling. I say with great conviction, that I am blessed to be called to such a
meaningful purpose. It is only by the grace of God that I can look back and see the person that I have matured into, not only personally but
professionally. I remain humble and grateful for the opportunity, not only to reflect but, to have made it through this part of my journey. I started this
program excited, yet, full of self–doubt and now in my last semester, I can gladly report that I am lesser of the two. Over the years, I have embraced
challenges and endured self–doubt and it is through my internship that I have felt growth in solidifying my self–confidence. With this developed
confidence I prepare to embrace the next chapter of my career with greater excitement and enthusiasm.
This semester of internship has provided me with the opportunity to hone my skills, and similar to a potter 's touch, smooth out and shape my growing
edges. My goals for this semester

Systemic Lupus Research Paper
Known as SLE, systemic lupus erythematosus is classified as an autoimmune disorder, which the immune system attacks itself , that might lead to the
killing of cells. Autoimmune disorders causes the immune system to overperform and ends up attacking the body. During infancy in a person who has
an autoimmune disease, "their immune system "forgets" that certain antigens in the body do belong there" (Thomas). When an autoimmune disease
affects more than one organ in the body, it's classifies as a systemic autoimmune disease. SLE "is a chronic disease that causes inflammation in
connective tissues, such as cartilage and the lining of blood vessels." (Genetics Home Reference) "SLE can potentially affect any system and organ of
the body"(Thomas). ... Show more content on Helpwriting.net ...
"When a lupus flare occurs, many people will notice a return of the symptoms they experienced previously. However, some people may also develop
new symptoms. Active disease is caused by inflammation in an organ or organ system. Common symptoms that indicate a flare are: ongoing fever not
due to an infection, painful, swollen joints, an increase in fatigue, rashes sores or ulcers in the mouth or nose, general swelling in the leg. Some flares
happen without symptoms"(Lupus Foundation of America).
There are a lot of different types of treatments for Lupus that work effectively due to recent research and development. These drugs include: NSAIDs,
Antimalarials, Corticosteroids, Immunosuppressives, and BLyS–specific inhibitors.
If someone does have SLE, the drug used to deal with the symptoms have serious side effects. That's why it is super important to take extra care of
their body. Eating healthy, exercising often, limiting sun exposure and cutting out smoking are crucial habits if a person does have systemiclupus
erythematosus. "Because of the nature and cost of the medications used to treat lupus and the potential for serious side effects, many patients seek other
ways of treating the disease. Some alternative approaches people have tried include special diets, nutritional supplements, fish oils, ointments and
creams, chiropractic treatment, and homeopathy. Although these methods may not be harmful in and of themselves and may be associated

The Daughter Of Time By Joseph Essay
Josephine Tey's The Daughter of Time is a historical novel that looks at the belief that
Richard III, King of England, murdered his two nephews in order to maintain his power. This novel also supports the belief that the "truth comes out
through time." In the novel the main character, Grant, is concerned with what he believes is a unknown fact of whether or not the long ago King of
England was guilty. Throughout his search for the answer Grant discovers many history books which all tend to view Richard in different ways. It is
from these different views of the same man, that one can draw the conclusion that bias plays a major role in the validity and credibility of documents
and personal accounts. So what is the role and in what ways ... Show more content on Helpwriting.net ...
Personal accounts and documents are often overlooked or considered unbelievable because they cannot be considered valid due to the bias opinions
of the writer. As historians many find this discouraging because they have no account of what really happened and only have what can be read from
the writings of others. In the media bias plays a role in the validity of certain things. An example, just one out of the many, where bias plays a role in
the credibility of certain events is the Pocahontas story. With out going into too much detail it is safe to say that the Disney version was very much
altered from the real version. Pocahontas was a nickname for "the naughty one" the girls real name in this legend was Matoaka. [visit http:/
/www.powhatan.org/pocc.html to see what is being referred to]
If bias continues to effect how valid certain past documents are, the documents which help to base our future, than what do we as historians have to go
on?
When one takes The Daughter of Time and looks closely another name for daughter one may come up with istruth. The truth is what eventually evolves
after time. "The truth comes out through time," is a statement which this book The Daughter of Time demonstrated very well. It showed how
Grant found evidence to support his belief that Richard the III was in fact innocent. It took many years for someone to realize this but that is the role of
time in this case. Grant used information from books, which had been

Bowen Family Systems
Bowen Family System Theory
Introduction
In doing my studies on family/systemic counselling, I found Bowen's theory intriguing. In my work and everyday life, I witness triangulation on a
daily basis, from my own experience, without the awareness from this module, I was often entwined in triangulation. As a trainee therapist I decided to
write my paper on Bowenian Therapy in order to gain a better understanding and develop my awareness.
Murray Bowen, M.D. (31 January 1913 – 9 October 1990) was an American psychiatrist and a professor in Psychiatry at the Georgetown University.
Bowen was among the pioneers of family therapy and founders of systemic therapy.
"The family systems theory is a theory introduced by Dr. Murray Bowen that ... Show more content on Helpwriting.net ...
Triangles
Triangles are the basic units of systems. They balance between closeness and distance. The third person or party brings unity and creates continuity in
warring situation. The triangle brings stressed person into a manageable level of operation. This involves true listening and gives a true advice for a
better solution. In it virtually all relationships are shadowed by third parties. For example when a couple have an argument, afterwards, one of the
partners may call their friend to talk about the fight. The third person helps them reduce their anxiety and take action, or calm their strong emotions and
reflect, and make decision.
People who are more undifferentiated are likely to triangulate others and be triangulated whereas people who are differentiated cope well with life and
relationship stress, and as a result are less likely to triangulate others or be triangulated.
The Nuclear Family Emotional Process
These are the emotional patterns in a family that continue over generations. This involves a modeling scenario where a family member models and
imitates the behaviour and even the language of his or her parents. For example, a parent who teaches his or her children to be happy when things are
ok and sad when things are bad shapes the future thinking of those children.Here the parent passes on an emotional view of the world (the emotional

process), which is taught throughout generation

Beta Risk Analysis
Nearly all investors look to beta as a way of feeling out the risk of a stock or fund. Put simply, beta measures volatility, or the tendency to swing up
and down, as compared to a benchmark. Fund managers that take a bullish stance on the short–term horizon may actively stock up on high–beta
equities to drive up returns. Controlling beta becomes an obsession for managers; and after they get the balance just right, they feel confident and
reassured in their risk profile. Menchero, Nagy, and Singh concentrate on three estimates of beta to test the accuracy of the measure overall. The first,
naive beta, makes a gross simplification that all stocks have a beta of 1. Second, the historical beta can be computed by comparing stock ... Show more
When charted across the largest financial institutions during the 2008 Financial Crisis, it delivers great results. It would have targeted Fannie Mae,
Freddie Mac, Morgan Stanley, Bear Stearns, and Lehman Brothers as the most fragile institutions. Moreover, the model could detect the problems as
early as the first quarter of 2005, making it a promising predictive tool. Such a risk–measurement instrument can be useful for firms of all sizes: from
medium to large–scale funds, to the largest institutional investment houses.
Danielsson and De Vries explain how predictions of low probability, worst–case outcomes are extremely poor using Value at Risk. These, importantly,
are the most influential events that deserve the most attention. Such a blind spot is unacceptable. As such, they offer an alternative: an extreme value
estimator. When tested against VaR and historical simulations far out in the tails, it performs much better in locating the depths of a negative shock. It
charts tails according to particular parametric distributions, "develop[ing] a straightforward rule for obtaining multi–period VaR from the single period
VaR." It is still fraught with several problems, but makes much more realistic assumptions about the distribution ofstock market returns. Moreover, it
more closely mimics the actual returns of the market.
Acharya et al. look specifically at the externalities that firms bring to the real economy. Undercapitalization is a major

Theu.s. Dodd Frank Wall Street Reform And Consumer...
The pros and cons of many macroeconomic policies are frequently debated. In particular, the
Dodd–Frank Wall Street Reform and Consumer Protection Act that was signed into law in July of 2010 sparked bitter controversy. Appropriately
argued by American Banker's Capitol Hill reporter Victoria Finkle, Dodd–Frank is viewed as either a "landmark law that reined in the biggest banks" or
an "economy–crippling overreach that burdened small institutions." The Act intends to tighten financial regulation in the U.S., hoping to prevent the
repeat of another financial crisis. Impetus for Dodd–Frank stemmed from the bailout of financial institutions deemed "too big to fail" and the moral
hazard it created. In 2008, intense pressure fell upon some of ... Show more content on Helpwriting.net ...
Mainly, Dodd–Frank equipped the Federal Deposit Insurance Corporation (FDIC) with Orderly Liquidation Authority (OLA) provisions, authorizing
the FDIC to safely wind down large and complex financial firms that are failing. The OLA expects to minimize moral hazard and systemicrisk. Another
considerable aspect of Dodd–Frank is new rules calling for greater transparency in risky dealings of exotic financial instruments: derivatives. The aim
was to take these transactions out of the shadows and make them visible to regulators and markets. Dodd–Frank also paved the way for monitoring the
insurance industry by establishing a Federal Insurance Office in the Treasury. Altogether, these were useful steps and tools of Dodd
–Frank. However,
Economist Barry Eichengreen points out that vesting the Fed with additional regulatory power and responsibility for the stability of the financial
system was a political nonstarter. The recently bailed out AIG was using money provided by the Fed to pay retention bonuses totaling up to $6.4
million to 73 of its leading employees. Aware of the bonus payments, the Fed claimed to be powerless in preventing them. Later, a darker fact
revealed that AIG was allowed to pay off obligations to Goldman Sachs using Fed bailout funds. The Fed knew about these transactions, and even
instructed AIG lawyers not to divulge to the Securities and Exchange Commission (SEC) internal memos authorizing said payments to Goldman Sachs.

Murray Bowen Differentiation Of Self
The term "Differentiation" refers to a developmental process when a skill becomes more sophisticated and broken into subsets. According to Professor
Murray Bowen, differentiation of self is one's ability to separate one's own intellectual and emotional functioning from that of family. He states, " The
one most important goal of family systems therapy is to help family members toward a better level of 'differentiation of self.'" Murray is saying that
through family therapy, one can develop their true self. He continues by saying that families are actually "stuck to" each other and this background
affects a person/people. Bowan talks about someone with "low differentiation" and describes them as being sewn to family emotions. People with
"low differentiation" depend more on others for acceptance and approval. They either conform to others or attempt to force others to conform to
themselves. These particular people become more vulnerable to the deterioration of stress. Having a well differentiated "self" is ideal in life. In
family therapy, the "triangle method" is often used. He states, "There was a different emphasis on the triangle between self and parents, which is the
most important primary triangle in life." The relationship with self and parents develops a background that could change someone's life. Whenever
two people are having issues with each other, they may "triangle in" a third participant. Bowen clearly emphasizes this specific idea. He says that
anxiety is

Insurance Industry Risks
Introduction
The averaging out of independent risks in a large portfolio is called diversification. The principle of diversification is used routinely in the insurance
industry. In this paper I will talk about two different types of home insurance and talk about the different risks associated with each.
Discussion
A portfolio is used to describe a collection of securities. In finance, the risk of an individual security differs from the risk of a portfolio composed of
similar securities. In order to help us understand why, Chapter 10 in the book gave a great example on insurance companies.
Let's consider two types of home insurance: theft insurance and earthquake insurance. Lets also suppose that the risk of these two hazards is ... Show
more content on Helpwriting.net ...
Fluctuations of a stock's return as a result of firm specific news are independent risks. This means that they are unrelated across stocks. Independent
risks are also known as unsystematic risk. When many stocks make up a portfolio, the unsystematic risks of each individual stock will average out and
be eliminated through diversification.
"Market wide new is news about the economy as a whole and therefore affects all stocks. For instance, the federal reservce might announce that it
will lower interest rates to boost the economy" (311). Fluctuations of a stock's return that are due to market wide news are common risk. All stocks
are affected by this news. Common risk is also referred to as systematic risk. Since systematic risk affects all firms, it cannot be eliminated through
diversification. When firms carry both systemic and unsystemic risk, only unsystematic risk will be eliminated by diversification when firms are
combined into a portfolio. The volatility will therefore decline until only the systematic risk remains. Because of this, the volatility of a portfolio is
lower than the volatility of the individual stocks in the portfolio.
Conclusion
The averaging out of independent risks in a large portfolio is called diversification.
Diversification is used routinely in the insurance industry. For example, the theft insurance industry relies on the fact that the number of claims is
relatively predictable in a

Manipulation Of The Truth In The Film 'Ai Weiwei: Never...
Documentaries and manipulation of the truth
"Documentaries do not show us what is true but manipulate the viewer to accept a version of the truth."
Documentaries aim to explore events or ideas that are true. However the truth is often lost when we consider other influencing factors, which include
the filmmaker's inherent bias, the need for a film to tell a single coherent story, and common documentary conventions which shape the viewer's
understanding. Held back by these issues, documentary makers cannot help but communicate their version of the truth to the viewer through both
intentional and unintentional manipulation.
Filmmakers inherently have a personal belief in a version of the truth. Upbringing, societal norms, political views and many ... Show more content on
Helpwriting.net ...
Many stylistic elements of documentaries, such as the use of archival footage, re–enactments, or real time footage have the potential to manipulate the
viewer's opinion on the truth. However the director cannot simply omit these stylistic elements as they are an integral part of conveying the truth, and
in fact define the documentary as a film type. The film "Ai Weiwei– Never Sorry", for example, uses techniques such as interviews and voiceovers
when analysing the real life footage of Ai Weiwei. The opinions of the people interviewed strongly emerges in these scenes, manipulating the viewer's
belief towards their version of the truth. However without the use of analysis, the documentary has lost important elements of the truth. The director is
unable to give context to the footage so it has much less meaning, and would be less useful and interesting to audiences. In a similar way, the film uses
music to draw attention to aspects of the truth, highlighting what the director feels is the most important aspects of a scene. This will clearly
manipulate the viewer's belief in the truth, but without this music, the truth cannot be effectively conveyed as other visual cues may shift the viewer's
attention away from the most important information. Directors of all film types face this dilemma, and documentaries are among the hardest to get the
balance between too much and too little manipulation right. However all filmmakers know that by using these conventions they are intentionally
manipulating the viewer to accept their personal version of the

Banking System Stability Is Largely Built On A Number Of...
Banking system stability is mostly built on a number of internal and external characteristics. Wheelock and Wilson (2002) used a rating methodology
called CAMEL, shorten from several variables include Capital adequacy, Asset quality, Management quality, Earning, Liquidity, to analyze the
probability of bank failures. Their study documented that smaller banks and well–capitalized banks can obtain a higher degree of capacity to maintain
stability individually, and comparing to universal banks, they contribute more to the stability of a nation 's banking system. Those variables reflect the
internal environment for operations of an individual bank and may be varied while banks choose to diversify their revenue with the conglomeration of
... Show more content on Helpwriting.net ...
Over the period of 1996–2005, accounting data based researches showed that the universal banks can only increase the volatility of accounting profits
by diversifying non–interest income and have no effect on raising their average profits. For American banks, there may be some benefits by introducing
new business differing from traditional interest–income based derivatives, the profits are offset by the increasing exposure to the systemic risk that
institutions may suffer. The similar result raised in Stiroh 's (2006) research in American equity market during 1996–2005. He concluded that, on the
one hand, there is no apparent link between non–interest income exposure and average profits. On the other hand, the diversification of non–interest
income has a strong and positive correlation with the volatility of equity return.
Banks in European shared the similar phenomenon in which banks with non–interest business present a lower level of risk management capability than
those who mainly focused on traditional interest–income activities. Recent findings state that compare to trading activities, bank 's conglomerate risk is
mainly positively correlated with the scale of non–interest income (Lepetit 2008). Those studies dig deeply into European equity market to reach the
relationship between market–based measures of the risk trade–off and the effect of income diversification. They concluded that in the long run,
universal banks with a higher proportion of non–interest

Jill Reported Increased Capacity Of Managing Stressful...
Jill reported increased capacity in managing stressful situations and emotions. This was evident in her ability to follow through on coping skills
discussed and when using a subjective scale to assess moods she reported improved moods. Jill reported mood changes to be related to interventions in
our sessions and being consistent with her anti–depressant prescription. Jill also reported a reduction in her anxiety attacks. Due to Jill addressing
underlying issues related to her drinking and feeling heard, she was able to pursue employment counselling and had started a job placement with Leads
Employment Services which further increased her confidence. Jill's self–care improved and that was she presented in clean clothing and had started to
wear make–up to appointments. She reported practicing self–care often and had treated herself to a haircut.
Jill shared she had attended a family gathering that we had discussed prior and had made plans to leave if it became difficult. She was able to attend
this function and did leave at one point when she became stressed. She was able to use recommendations from our cognitive behavioural 'AWARE'
program in order to regain her composure and chose to rejoin the family function. In the past, Jill reports she would have reacted to the stress by abusing
alcohol, resulting in an argument prior to leaving. Jill reported an improvement with her relationship with her children, she shared that she was able to
avoid arguments escalating with her

Alok
Definition of 'Systematic Risk'
The risk inherent to the entire market or entire market segment.
Also known as "un–diversifiable risk" or "market risk."
Interest rates, recession and wars all represent sources of systematic risk because they affect the entire market and cannot be avoided through
diversification. Whereas this type of risk affects a broad range of securities, unsystematic risk affects a very specific group of securities or an
individual security. Systematic risk can be mitigated only by being hedged.
Even a portfolio of well–diversified assets cannot escape all risk.
________________________________________________________________________________
Definition of 'Unsystematic Risk'
Company or industry specific ... Show more content on Helpwriting.net ...
Within the Momentum Model they used two approaches to forecasting future earnings estimate revisions. 1) an approach based on past changes in
analyst's estimates. These small revisions would then encourage other analysts to update their estimates. This would lead to earnings estimate
leapfrogging and a herd effect. They captured this effect in its "Estrend" or earnings estimate "trend" model. Candidates with large increases in analysts'
estimates were candidates for buying and companies with large decreases in analysts' estimates were candidates for selling short. 2) the second
approach to forecasting future changes in analysts' earnings estimates was based on earnings surprises...company announcements of quarterly earnings
that were significantly different from the consensus of analysts' expectations. Astock price increase immediately following the announcement of a
positive earnings surprise usually would signal that the earnings were indicative of good future outcomes for the company. However, a stock decline
might signal perhaps that, while the last quarter may have been better than expected, other information released in the announcement was indicating
that the improved earnings were unlikely to be sustained. So for a given stock, Numeric's models determined both an Estrend score and an earnings
surprise score. These scores were then combined in a weighted

Neutrality in Family Systemic Therapy
Master of Science Family and Systemic Psychotherapy
Term Paper
NEUTRALITY
(A historical review of a theoretical concept/idea in working with families and couples)
Submitted by:
Cheryl Lim
13 April 2007
Counselling and Care Centre, Singapore
The Institute of Family Therapy, London, UK
Validated by Middlesex University, London, UK As a learning therapist, I am often being reminded of the concept of neutrality when reviewing one's
relationship with the clients. This gives rise to my interest to review the development of neutrality in the field of family therapy, its relevance in
clinical work, and its value and limitations. To trace the origins of the development of neutrality, one would have to begin with the Milan... Show more
Like a neutral therapist, the Bowenian therapist supposedly remains sufficiently detached, thereby staying on top of the situation. In the strategic and
structural family therapies, the therapist's position was not extensively discussed. However, there has been an emphasis for the therapist to be
respectful and empathic in session. For instance, a structural family therapist, in order to produce change, needs to first join with the family members.
In joining, the therapist conveys acceptance and respect of family members and their ways of doing things. In this manner, the Milan group's concept
of neutrality is connected with the structural therapy's concept of joining. The intent for both therapists is also to allow the family members to listen to
each other's stories. While in neutrality, it is a stance that is undertaken throughout the therapeutic process, the structural therapist may move into
realigning the boundaries and restructuring the hierarchies in the family. To achieve that, the structural therapist may at times align with one family
member. This is where neutrality ends for the structural therapist. Into the 1980s, the Milan team splits into two pairs where Cecchin and Boscolo
continued to develop their systemic ideas in clinical work, the concept of neutrality also took a different form. Along with the movement into
post–modernism,

Cerebral Air Embolism Following Pigtail Catheter Insertion
Cerebral air embolism following pigtail catheter insertion
Abstract:
Pleural pigtail catheter placement associated with many complications including pneumothorax, hemorrhage, and chest pain. Air embolism can rarely
be a complication of pigtail catheter insertion and has a high risk of occurrence with positive pressure ventilation (PPV).
Cerebral air embolism is a very rare complication but lethal. We report a case of patient of cerebral air embolism as a complication of placement of
pigtail pleural catheter placement while a patient on (PPV).
Case presentation:
A 50 years old male who has bilateral pneumonia, was found to have pneumothorax while on mechanical ventilation CPAP/PS mode. While placing the
pigtail catheter, the patient ... Show more content on Helpwriting.net ...
Keywords:
Cerebral air embolism–Pigtail catheter–Pneumothorax– Chest Tube
Introduction:
Placement of a chest tube indicated for pleural effusion and pneumothorax. There have been two kinds of chest tubes being used, including a Pigtail
catheter and chest tube thoracotomy.
The pigtail catheter drainage is widely used as it is easier and less invasive
Cerebral air embolism is a rare complication that can be induced by pulmonary barotrauma, the trauma of the chest or head and iatrogenic causes such
as invasive procedures or surgery. This risk increases if the patient is on positive pressure ventilation and while the pressure in the airway increased.
We reporting a case of cerebral air embolism associated with pigtail catheter insertion for treatment of pneumothorax in a patient who was on positive
pressure mechanical ventilation.
Case Report:
This is a 50 years old male with no significant past medical history presented initially with shortness of breath and hypoxia and was transferred to the
ICU. He was treated for bilateral pneumonia that required prolonged mechanical ventilation via a tracheostomy. He has necrotizing pneumonia and he
has been in the hospital for 6 weeks due to the development of multi–organ failure. He was weaned from mechanical ventilation to the point he was
tolerating a CPAP/PS mode. Later on, it was noticed that he

Localised Scleroderma Case Study
Scleroderma is a broad term used to describe a spectrum of disorders identified by skin fibrosis (Succaria, Kurban, Kibbi & Abbas, 2013). It is a
serious condition that is classified as either being a systemic or localised autoimmune disease of collagen tissue impacting both internal and external
organs (Oksel & GГјndГјzoДџlu, 2014). Due to the vast divergency of this disease there will be brief discussion on the various forms of both
systemic and localised scleroderma however, the main focus is to investigate findings based on localised scleroderma, delving into the knowledge of
the conditions with particular focus on the aetiology of the disease and its clinical features, followed by differential diagnosis of how this condition can
be misdiagnosed ... Show more content on Helpwriting.net ...
Abnormal immune function in both forms of scleroderma is defined as an alteration in cytokine function and the activation of T–cells with the
presence of auto–antibodies (Woo, Laxer & Sherry, 2007). IL–4 and IL–6 stimulate collagen synthesis by the activation of fibroblasts, increasing
production of collagen type I and III. Other factors that are thought to mediate fibroblast activation include growth factors such as platelet–derived
growth factor and connective tissue growth factors. Additionally, the production of tissue inhibitors such as matrix metalloproteases has been
noticeably upregulated therefore, fibrosis is thought to be a result of not only the increased levels of collagen production but also the decreased levels
of cellular matrix turnover (Mayes, 2014). Localised scleroderma will appear with dyspigmented, atrophic sclerotic lesions generally present on the
extremities, back, trunk, neck, head and scalp, where as the first manifestation present in systemic scleroderma is oedema of the hands, causing restricted
movement followed by skin

Shadow Banking System Case Study

Recommended

Recommended

More Related Content

More from Monica Cordova

More from Monica Cordova (6)

Recently uploaded

Recently uploaded (20)

Shadow Banking System Case Study