Pete Rose in the Hall of Fame Essay -- Art

Pete Rose in the Hall of Fame To some, including myself, baseball is the greatest sport that has ever been played. It is a game played by two opposing teams made of multiple players, but only nine players per team play at the same time. To be part of one of the thirty teams that get to play professional baseball, a player has to play the game extremely well (www.baseballhalloffame.com). When a player plays the game better than most have played he gets rewarded, usually with lots of money in a big contract. Then there are those rare players, the 244 elite players of the game that have already been inducted into the Hall of Fame. Being inducted in the Hall of Fame is the utmost of baseball fame. The players listed are remembered forever. This brings me to my argument. Pete Rose should be allowed induction into the Hall of Fame. Now, most of the baseball critics and brass do not want Pete Rose inducted. They claim that his illegal betting on baseball games should keep him out of the Hall of Fame. Almost all of the "highly questionable" evidence that Commissioner Bart Giamatti held was derived from former friends and associates of Rose. "Up to $30,000 per day", so some of Roses' "close" friends say. These former friends of Rose are Tommy Gioiosa, Donald Stenger, Mike Fry, and Paul Janszen. This evidence is what prompted the banishment from baseball of Pete Rose, which he signed. The evidence was enough for the Commissioner. In 1989, baseball's Commissioner Bart Giammati ...

Barclays Scandal: Libor

From Amanda Chua, Financial Manager To Sir David Walker, Chairman of Barclays Plc. Date 24th February 2013 Subject Implication of The Recent Libor-Fixing Scandal for Barclays Bank 1. Executive Summary * The London Interbank Offered Rate (Libor) is the average interest rate charged to banks for lending funds in the interbank market (Investopedia n. d. ). * The UK Treasury reported that Libor is responsible for an estimated $300 trillion worth of financial transaction (BBC 2012). Barclays’ traders submitted inappropriate rates upon derivative traders request (FSA 2012). * Barclays’ submitted inappropriate rates to prevent negative media attention (FSA 2012). * Barclays was fined ? 290 million for Libor scandal (Wilson 2012). * Former Chairman, CEO and COO resigned in July 2012 (BBC (B) 2013). * Barclays’ share prices fluctuated due to Libor Scandal (Fletcher 2012). * Pursuing profit maximization, Barclays inevitably exploited its stakeholders (MBA Knowledge Base n. d. ). Financial managers think solely for the purpose of profit maximization for the shareholders as it lose focus, carrying out unethical behaviors to gain short-term gratification. * Barclays is suggested to create shareholder value by combining a well-thought-of goal with focused financial planning that will deliver returns to shareholders but in an ethical manner that is acceptable by the society (Barclays Boss Lays Out Revival Plans, 2013). * Installation of more advanced surveillance devices further enforces plan as employees are monitored closely in efforts to control the wellbeing of the workers (Roland 2013). Barclays is suggested to form a neutral ring-fenced rate-setting unit to monitor the rates submission (Daniels 2013). 2. Libor: Explained The London Interbank Offered Rate (Libor) is the average interest rate charged to banks for lending funds in the interbank market (Investopedia n. d. ). Major banks in London who are under BBA submit the rate they presume they will have to pay for borrowing funds from another bank to Thomson Reuters, who will then discard the four lowest and highest rates and use the emainders to calculate the average, resulting with the Libor rate (Kiff 2012). The importance of Libor It is used as the benchmark for interest rates around the world (Surowiecki 2012). The UK Treasury reported that Libor is responsible for an estimated $300 trillion worth of financial transaction (BBC 2012) such as mortgages, corporate loans and derivatives (Surowiecki 2012). Also, Libor acts as a barometer for the welfare of the volatile global financial market (BBA n. d. ). 3. Barclays’ mistakesEmployees at Barclays submitted lower than actual predicted rates to Thomson Reuters (Murray-West 2012). Why it was done Derivative transactions made use of the Libor rate. Hence, the fluctuation of the rates would influence the profit gained for the traders (Surowiecki 2012). Both the traders and rate submitters cooperated through frequent intera ction (Surowiecki 2012) as traders requested for lower rates because they would benefit by paying less for the interest charged on the derivatives.Barclays submitted lower rates to conceal the trouble state it faced during the 2008 credit crunch (Murray-West 2012) when initially their submitted rates were higher than other banks (Bischoff & McGagh 2013). Lower rates prove that banks intending to lend funds to Barclays were assertive of their financial health, because the less assurance a bank had for another, the higher the rate charges will be (Bischoff & McGagh 2013), and Barclays expressed the contrary to conceal their financial instability.It was said that Bob Diamond, then chief executive officer of Barclays, was contacted by Paul Tucker, the deputy governor of the bank, concerning the recurrent greater rates amongst other banks, which worried Diamond who conveyed the news to Jerry del Missier, then chief operating officer, who misinterpreted the news as a command to rig the ra te (Bischoff & McGagh 2013). How it was done. It was effortless to manipulate the rates because they are derived from estimates rather than calculated values (Eavis & Popper 2012).Also, interbank borrowings were reduced during the financial crisis causing difficulty in evaluating whether submitted rates were realistic (Wheatley 2012). 4. Consequences for Barclays’ scandal Manipulating the Libor rate is intolerable and investigation involving the FBI is a reputational damage in itself (R. D. 2012), not only towards Barclays but in the banking sector as a whole where regulators are still speculating which other banks were involved (Bischoff & McGagh 2013). Barclays received a total of ? 290 million penalty from FSA, CFTC and DoJ (R. D. 012) for manipulating the Libor rate. Furthermore, former Barclays’ chairman, Marcus Agius resigned on July 2nd 2012, followed by Bob Diamond and Jerry Del Missier on July 3rd 2012 as a result for their involvement in the LIBOR scandal (BB C (B) 2013). Similarly, 3700 employees were discharged to reorganize the Barclays banking regime (McGee 2013). As Libor accounts for $300 trillion worth of financial transaction, this affects many because lenders lose out as the borrowers benefit from the low interest rate charges and people are very disappointed at the extend to where Barclays has went to.Due to the scandal, Barclays’ share prices fluctuated because the market expected charges for lawsuits against Barclays and it reflected the reputational damage Barclays has encountered for its involvement in the scandal (Armour, n. d. ), though this has caused an overhaul in Barclays that resulted in the increase of share prices months after. Moreover, investment firms and municipal government who fell victim to the Libor scandal due to the buying of bonds or signing of contracts demanded reimbursement from Barclays and will inevitably elicit legal actions (Bloomberg News 2012). 5. Role of Financial ManagementProfit maximi zation is the goal of financial management (Hillier et al, 2011) indicating that its objective is gaining greatest profits by using all possible resources irrespective of the consequences or underlying risk (O’Farrell n. d. ). This is seen as Barclays’ traders tried to maximize profits for their own benefit as well as their stakeholders. Shortcomings of Profit Maximization During the financial crisis, banks were financially unstable, they refused to borrow one another funds because of the low confidence they had for one another, seen through the Libor ratings that were previously submitted before the Libor rigging scandal.Barclays chose to conceal its proper Libor rates that would have indicated its troubled state to the public. This was second by the fact that a firm who pursues the goal of profit maximization will inevitably exploit its workers and consumers, which exemplify an unethical way of carrying out a business resulting from its corrupted practices (MBA Knowl edge Base n. d. ). In Barclays’ case, this was shown by its objective to save the bank’s reputation by finding means to profit maximize to avoid possible outcomes of failure.Jerry’s assumption of Bob’s instruction to fix the Libor rate when it was unfavorable (Bischoff & McGagh 2013) is another illustration of profit maximization gone wrong when financial managers think solely for the purpose of profit maximization for the shareholders as it diverge its actions by carrying out unethical behaviors to gain short-term gratification. Barclays has neglected possible risks because they were too focus on profit maximization as they rigged the Libor for the past years. Risk ignorance is another flaw of profit maximization (eFinance Management n. . ) because firms tend to be shortsighted towards maximizing profit they deserted their morale. This is shown by the reputational damage as a consequence of the scandal. Lastly, the disregard of quality is a shortcoming ( eFinance Management n. d. ) shown through Barclays’ scandal because Barclays obsessed over profit maximization, it neglected the goodwill of the bank. Barclays being a world-renowned bank that was earned through the years overlooked its goodwill as an asset as it rigged the Libor rate to earn short-term profits. . Summary It can be concluded that Barclays’ manipulation of the Libor rate was unacceptable. However, they have taken full responsibility over the consequences. It is suggested that Barclays make an overhaul in its management by changing its mentality from a bank that gravitated its goal on profit maximization to prioritizing an ethical environment before its success (Mcgee 2013) through removing workers incapable of committing to the revised goal (BBC (A) 2013), as this will be a long-term change. (Waldie 013) Antony Jenkins, the new Barclays CEO mentioned in Barclays Boss Lays Out Revival Plans (2013) that Barclays was previously too shortsighted as well as being too aggressive and self-serving. Nonetheless, the current damage helps Barclays to learn from experience. Presently, it is advice to create shareholder value by combining a well-thought-of goal with focused financial planning that will deliver returns to shareholders but in an ethical manner that is acceptable by the society (Barclays Boss Lays Out Revival Plans 2013).Installation of more advanced surveillance devices further enforces this plan as employees are monitored closely in efforts to control the wellbeing of the workers (Roland 2013). Lastly, it is suggested to form a neutral ring-fenced rate-setting unit to monitor the rates submission (Daniels 2013) in Barclays and this combines with trainings that shall be implemented to nurture an ethical and systematical way of setting the Libor rate. This plan aids by applying a team submission rate rather than an individual’s whereby rates submitted will be relatively reliable. BibliographyACTUELNEWSCHANNEL. 2013. Barcla ys Boss Lays Out Revival Plans [online]. [Accessed 22 February 2013]. Available from: http://www. youtube. com/watch? v=4dznoD8yd14 ARMOUR, J. [2012]. The Price of Reputation: Lessons from the Barclays LIBOR Scandal [online]. [Accessed 9 March 2013]. Available from: http://www. clmr. unsw. edu. au/article/ethics/libor-manipulation/price-reputation-lessons-barclays-libor-scandal BBALIBOR. [no date]. bbalibor explained [online]. [Accessed 28 January 2013]. Available from: http://www. bbalibor. com/bbalibor-explained/the-basics BBC. [2012].Libor – what is it and why does it matter [online]. [Accessed 28 January 2013]. Available from: http://www. bbc. co. uk/news/business-19199683 BBC (A). [2013]. Barclays boss tells staff â€Å"sign up to ethnics or leave† [online]. [Accessed 18 February 2013]. Available from: http://www. bbc. co. uk/news/business-21064590 BBC (B). [2013]. Timeline: Libor-fixing scandal [online]. [Accessed 8 February 2013]. Available from: http://www. bbc . co. uk/news/business-18671255 BISCHOFF, V and MCGAGH, M. [2013]. Q&A: what is Libor and what did the banks do to it [online]. [Accessed 8 February 2013].Available from: http://citywire. co. uk/money/qanda-what-is-libor-and-what-did-the-banks-do-to-it/a600479/3 BLOOMBERG NEWS. [2012]. Consequences to banks of Libor scandal staggering [online]. [Accessed 8 February 2013]. Available from: http://www. winnipegfreepress. com/fpnewsvoices/Consequences-to-banks-of-Libor-scandal-staggering-162730376. html DANIELS, V. [2013]. RBS Outlines The Actions Management Has Taken Following Discovery Of LIBOR Scandal [online]. [Accessed 8 March 2013]. Available from: http://hereisthecity. com/2013/02/06/rbs-outlines-the-actions-management-has-taken-following-libor-sc/EAVIS, P and POPPER, N. [2012]. Libor Scandal Shows Many Flaws in Rate-Setting [online]. [Accessed 22 February 2013]. Available from: http://dealbook. nytimes. com/2012/07/19/libor-scandal-shows-many-flaws-in-rate-setting/ EFINANCE MANA GEMENT. [no date]. Profit Maximization [online]. [Accessed 6 March 2013]. Available from: http://www. efinancemanagement. com/finance-financial-management/87-profit FINANCIAL SERVICE AUTHORITY. 2012. Final Notice. England: FSA. [Accessed 22 February 2013]. Available from: http://www. fsa. gov. uk/static/pubs/final/barclays-jun12. pdf FLETCHER, N. 2012]. Barclays drops more than 10% after Libor scandal, with other UK banks also hit [online]. [Accessed 8 February 2013]. Available from: http://www. guardian. co. uk/business/marketforceslive/2012/jun/28/barclays-uk-banks-libor-scandal HILLIER ET AL. 2011. Fundamentals of Corporate Finance. Europe: McGraw. INVESTOPEDIA. [no date]. London Interbank Offered Rate – Libor [online]. [Accessed 28 January 2013]. Available from: http://www. investopedia. com/terms/l/libor. asp#axzz2LAAqHDOs KIFF. [2012]. What is LIBOR [online]. [Accessed 28 January 2013]. Available from: http://www. mf. org/external/pubs/ft/fandd/2012/12/basics. htm MBA K NOWLEDGE BASE. [no date]. Objectives of Financial Management [online]. [Accessed 22 February 2013]. Available from: http://www. mbaknol. com/financial-management/objectives-of-financial-management/ MCGEE, S. [2013]. Confessions of a Barclays Banker Who’s Seen The Light [online]. [Accessed 22 February 2013]. Available from: http://www. thefiscaltimes. com/Columns/2013/02/19/Confessions-of-a-Barclays-Banker-Whos-Seen-the-Light. aspx#page1 MURRAY-WEST, R. [2012]. What does the Libor scandal mean for us [online]. Accessed 8 February 2013]. Available from: http://www. telegraph. co. uk/finance/personalfinance/consumertips/banking/9364994/What-does-the-Libor-scandal-mean-for-us. html O’FARRELL, R. [no date]. Advantages & Disadvantages of Profit Maximization [online]. [Accessed 22 February 2013]. Available from: http://smallbusiness. chron. com/advantages-disadvantages-profit-maximization-11225. html R. D. [2012]. Eagle fried [online]. [Accessed 8 February 2013]. Available fr om: http://www. economist. com/blogs/schumpeter/2012/06/barclays%E2%80%99-libor-emb

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Analysis Of Toni Morrison s Song Of Solomon - 977 Words

The Asymmetrical Dead When Milkman, the central figure of Toni Morrison’s novel Song of Solomon, fantasizes about finding his fortune, he thinks only of spending money, gambling, and endless women to lie with and leave. Even with the prospects of freedom, power and fame, for what else can vast wealth truly purchase, he is unable to conceive of a future for himself. He imagines only an endlessly comfortable, banal present. It’s hard to fault him for this shortcoming. No one in Milkman’s world has any future at all. The half-lives they lead leave room only for the past, and a half-remembered one at that. Milkman’s immediate family is fractured. His mother Ruth never mentions her mother, if she knew her at all, only her father. Macon Dead, Milkman’s father, knew only his father as well. Both Ruth and Macon only act as half parents to Milkman. They are incapable of seeing each other as equals because they have no reference for their relationship. They each see Milkman as the ir son, but not as the son of the other. They stifle Milkman, giving him only their view of the world. Because they are unable to have friends outside of their home, they enlist him as a confidant, as an ally against the other, and as the bearer of the Dead legacy. Milkman is unable to become a whole person within the family because he is expected only to complete each parent and not himself. Milkman’s love life is another area that is lacking. Hagar, who loves Milkman unconditionally, who needs him inShow MoreRelatedAnalysis Of Toni Morrison s Song Of Solomon1374 Words   |  6 Pagesalso play a major role in a person’s character development. Influences also can affect temperament, personality, disposition, motivation, and initial perspectives and reactions. This sagaciousness was thoroughly expressed in the novel Song of Solomon by Toni Morrison. This novel delved extensively into the coming of age of main character Macon â€Å"Milkman† Dead. 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Although the short story â€Å"Recitatif† explicate many different themes, the central topic of Morrison’s writing is about racism. Throughout the story, the author expresses examples of hatred between black and white races at the shelter, the different encounters they have, andRead More A Comparison of Christian Symbols in Song of Solomon, Sula, and Beloved2397 Words   |  10 PagesAlthough religion does not exist as a central theme in Toni Morrison’s work, it does set premise for a richly intertwined web of symbolism. Morrison’s novels focus on the lives of characters acting in the present day or recent past. For African Americans, events of the past are a crucial facet of culture as they seek to remember their history, the most influential of these events reaching far back in to the years of slavery. 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The Brain Identity Theory, Logical Behaviorism, And...

Have you ever stop to think if your thoughts, beliefs, and desires can be described as something physical? The mind-body problem focuses on identifying the relation between the physical and the mental. Physical objects include our body, brain, and much more such as our neurons and the chemicals in our body. When we mention a physical object we can describe it by having properties of texture, shape, color, and size. The mental objects are said to be our beliefs, desires, and emotions. But can these mental objects be classified to have the same physical properties as your brain? It seems obscured to classify the desire of wanting chocolate as having a shape, or a certain texture. There are many solutions offered to aid in finding a solution to the mind-body problem. These solutions include the Mind-Brain Identity Theory, Logical Behaviorism, and Dualism. All of these work to make an explanation as to whether the mind and body are either one of the same thing or two different objects that have different properties. Out of all the solution mentioned, I will concentrate on Dualism. In this paper, I shall present and explain the argument for dualism and how it works to effectively provide a solution for the mind-body problem in spite of any objections offered. I will first proceed to describe the idea of dualism and provide two arguments that aim to support this solution towards the mind-body problem (II). I shall then present the two objections offered by Elliott SoberShow MoreRelatedZombies And Other Minds : Shaun Of The Dead1035 Words   |  5 Pagesof substance dualism, behaviorism, and identity theory. The theory of substance dualism holds that the mind and the body are separate substances (Lecture notes). This is because the body, as a material substance, is extended, whereas the mind lacks extension. 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Proverbs of Solomon free essay sample

Lazy hands make a man poor, but diligent hands bring wealth. He who works his land will have abundant food, but he who chases fantasies lacks Judgment. (B) A sluggard does not plow in season; so at harvest time he looks but finds nothing. O Dishonest money dwindles away, but he who gathers money little by little makes it grow. (DE) When words are many, sin is not absent, but he who holds his tongue is wise. (DE) A perverse man stirs up dissension, and a gossip separates close friends. I) What the wicked dreads will overtake him; what the righteous desire will be granted. When pride comes, then comes disgrace, but with humility comes wisdom. Pride only breeds quarrel, but wisdom is found in those who take advice. The way off fool seems right to him, but a wise man listens to advice. He who ignores discipline comes to poverty and shame, but however heeds correction is honored. We will write a custom essay sample on Proverbs of Solomon or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Pride goes bettor destruction, a naughty spirit bettor a tall. A mans pride brings him low, but a man of lowly spirit gains honor. Let another praise you, and not your own mouth; someone else, and not your own lips. (OZ) A fool shows his annoyance at once, but a prudent man overlooks an insult. (OZ) It is too mans honor to avoid strife, but every fool is quick to quarrel. (OZ) Hatred stirs up dissension, but love covers over all wrongs., Truthful lips endure forever, but a lying tongue lasts only a moment. (?t?) An anxious heart weighs a man down, but a kind word cheers him up. As iron sharpens iron, so one man sharpens another. A righteous man is cautious in friendship, but the way of the wicked leads hem astray. He who walks with the wise grows wise, but a companion of fools suffers harm. Do not speak to a fool, for he will scorn the wisdom of your words. Like a bad tooth or a lame foot is reliance on the unfaithful in times of trouble. ) One man pretends to be rich, yet yet has great wealth. NAS onto ins; another pretends to be poor, He who spares the rod hates his son, but he who loves him is careful to discipline him. How much better to get wisdom than gold, to choose understanding rather than silver. Do not withhold discipline from a child; if you punish him with the rod, he ill not die. By wisdom a house is built, and through understanding it is established; through knowledge its rooms are filled with rare and beautiful treasures. Better is open rebuke than hidden love. (h*if) Better a patient man than a warrior, a man who controls his temper than one who takes a city. (h*if) A gentle answer turns away wrath, but a harsh word stirs up anger. (h*if) Do not make friends with a hot-tempered man, do not associate with one easily angered, or you may learn his ways and get yourself ensnared. ) The plans of the diligent lead to profit as surely as haste leads to poverty. (I) A prudent man sees dangers and takes refuge, but the simple keep going and suffer for it. Like a city whose walls are broken down is a man who lacks self-control. He who is dull load ones honey sweet. UT the hungry even what I s bitter tastes Doubt is our traitor, often making us lose the possible victory for fear of trying. William Shakespeare No matter how many mistakes you make or how slow you progress, you are still way ahead of everyone who isnt trying.

Italian Neorealistic Film free essay sample

Analyzes three major films: Rossellinis Open City, De Sicas Bicycle Thief and Viscontis Obsession. Examines style, themes and social messages. Italian neorealism developed under onerous circumstances and became a form by which Italian filmmakers could express themselves in a new way. Essentially, the early neorealist filmmakers were doing what they could with the tools at hand and doing it under the watchful eyes of an antagonistic ruling class, From the tensions this arrangement produced, they created something distinctive, allowing them to develop ideas and to do so in a new cinematic style. At the time, Italy was ruled by fascists, who viewed art as valuable only to the degree it was useful. Yet, these films were not made in service of fascist ideas but as a counter to them. The forces that helped shape these films, the style that was produced by these tensions, and some important examples demonstrate the vitality achieved by Italian directors as World War II ended. We will write a custom essay sample on Italian Neorealistic Film or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page