The case of Bernie Madoff remains

The case of Bernie Madoff remains to be a controversial aspect due to his ability to commit fraudulent acts against individuals and companies whether they may belong to the upper or middle class. Due to this, the repercussions of is actions remain to be a debate due to its timeliness with the ongoing American fiscal crisis. That is why careful considerations must be made in order to actively understand the parameters of this case and align its application with normative ethics.Looking at this particular case, it can be seen that Madoff conducted what usual economists calls a Ponzi scheme. This system creates various business practices that aim to provide fraudulent information among a client base to generate significant income and profit (Moore, 2009). This setup forwarded increased profits on Madoff as he continued to lobby for this act in different sectors. Such actions then resulted to huge losses as profits promised for clients were unequal to the actual amount (Lezner, 2008).Thi s situation also resulted in the furthering negativity for hedge funds as the economy and the stock market continued to decline and drop. â€Å"The arrest of the 70-year-old Madoff, widely considered to have the magic touch as an investor, is another serious black eye for the hedge fund industry and all non-transparent investment vehicles† (Lezner, 2008, p. 1). Such ideas furthered rethinking how might have Madoff gained the ability to continue this practice for several years.Analyzing this case on the perspective in the realm of ethics, it may be a good portion to argue about Madoff’s ability to act and commit actions that is considered good or bad. In here the standards and ideals provided by society and the business perspective comes into picture as the question of whether Madoff should have been awaiting trial at home or in jail. In arguing for this scenario, it is essential to denote what normative ethics can provide and shed sufficient justification for the actio ns committed by Madoff.In understanding the elements of normative ethics, it tries to seek and provide theories of how individuals should live (Moral Philosophy, 2005). This branch tries to explain the parameters of individual actions with the use of several approaches that denote different factors affecting human lives. By fostering on this element, a careful yet comprehensive approach can be deciphered if whether or not Madoff should be awaiting trial and verdict in home or jail.Operating on the virtue ethics category, it is essential to look into the parameters of the case such as the plaintiff, how the action was conveyed, and its relevant consequences (Moral Philosophy, 2005). Applying this on Madoff’s case, it can be argued that his actions neither constitutes morally accepted traits nor seek to provide away that can help improve people’s lives. Since this facet revolves around the application of virtues and character, the action portrayed by Madoff does not coin cide with the positive traits an individual should posses.Due to this it makes it difficult and hard to establish a relationship towards good. Applying this to the question of where he should be situated during trial, virtue ethics would argue that the most appropriate choice would be waiting verdict in jail. This is because it can help compensate and correspond to the negative values committed by Mardoff to his victims. Though this approach also considers undesirable consequences, it is still a manifestation of character that needs to be compensated accordingly (Moral Philosophy, 2005).Likewise, this is chosen because under the other condition, it can provide several freedoms that Mardoff can enjoy and acquire. By having serving time in jail during the trial, it will actively address the similar actions conveyed by Mardoff. On the other hand, operating under deontological framework, it does not consider the consequences of the act given but rather focuses in the ability of whether an action is good or bad (Moral Philosophy, 2005). Operating on this approach, deontologists would argue that the actions committed by Mardoff are not congruent with what is appropriate of an individual.This element then necessitates the idea that it should promote something that is significant and essential towards what is prescribed by rules and standards of any group, organization and society. Thus, the element of whether or not Mardoff should be in jail or under house arrest is not significant. What is significant for deontologists is establishing that the actions committed by Mardoff are right or wrong in their own essence. Lastly, the condition provided by the consequentialist theory points out the significance of the results created by an action committed by the individual (Moral Philosophy, 2005).Under this idea, consequentialism in normative ethics is concerned about the positive or negative outcomes of a particular action and how it impacts the creation of another event or situation related to such. It is through this framework that individuals and groups can create the necessary explanation of how it can create actions constituting good or bad. Applying this to the case of Mardoff, consequentialist would argue that the action appropriate for this case is that Mardoff be situated in the jail and await his sentence.This action is significant due to his ability to create consequences that affected many peoples and company’s lives. His actions also contributed to the downfall of many industries as his assurances of high profitability and stability went down the drain. Seeing this, it is only justifiable that Mardoff serve in jail due to the large consequences of his actions committed. On the other hand, operating on the other category, allowing Mardoff to stay at home under house arrest will only generate minimal outcomes compared to his actions committed to many.This initiative would only necessitate several freedoms that may not be available wh ile in jail. Due to this, this action may not be a feasible option from the point of view of consequentialist. To conclude, applying normative ethics in the case of Bernie Mardoff revolves around the action of understanding how his actions constituted good or bad. Under the three different approaches, it can help provide clear insights and understanding of how the concept can be properly addressed and administered accordingly.Due to this, it can facilitate a functional framework of interpreting the case of Mardoff in an effective and efficient manner. References Lezner, R. (2008) Bernie Madoff’s $50 Billion Ponzi Scheme. Retrieved July 13, 2009 from, http://www. forbes. com/2008/12/12/madoff-ponzi-hedge-pf-ii-in_rl_1212croesus_inl. html Moore, M. (2009) Bernie Madoff. Retrieved July 13, 2009 from http://www. time. com/time/specials/packages/article/0,28804,1894410_1893837_1894189,00. html Moral Philosophy (2005) Normative Ethics. Retrieved July 13, 2009 from http://www. moral philosophy. info/normativeethics. html

Internal Control System

The two primary goals of an internal control system are to safeguard assets and manage resources. This action by the organization, reasonably ensure that their specific goals and objectives will be met within compliance. This system consist of policies, measures and procedures designed to assist management with protecting the organization against waste, preventing and detecting fraud, inconsistencies, inadequacy, ineffectiveness, reliable and accurate accounting, evaluating performance and protecting both its tangible and intangible resources. It helps to minimize risks and they are an integral part of an organization’s financial and business policies. Internal controls are simply just good business practices. The Sarbanes-Oxley Act was enacted on July 30, 2002. The bill was introduced and passed as a result of the then recent corporate accounting scandals by companies such as Enron, Tyco and Worldcomm, just to name a few. These very public scandals rocked the nation; since, they cost investors billions of dollars and challenged the faith that people once had in the America’s stock markets. This new Act helped to rebuild faith in a once loosely regulated system and repair some of the damage done by such greed and deceit. Some argue that the bill has reduced America's international competitive edge against overseas financial service providers (Wikipedia); but the bill was put in place to protect investors, shareholders and the general public alike by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws (SOX-online. com). The Public Company Accounting Oversight Board, or PCAOB, is the agency created to oversee the accounting firms that act as auditors for corporate companies. The consequences for non-compliance are fines, imprisonment, or both. If a company announces deficiencies in its internal controls, the stock of that organization would most likely fall due to the public knowledge and experience with this type of thing before the Sarbanes- Oxley bill was introduced. Investors’ assurance in the safety of their stock will be negatively impacted. The negative impact can cause panic by investors, resulting in the selling of that investors’ share of stock. But if the company has a strong positive reputation and releases this information voluntarily then the company may save face and retain some of their shareholders trust and some shareholders may remain loyal by staying positive. One limitation of the internal control system is employing a staff large enough to accommodate the many segregated duties of one that is well organized and thought out. The mishandling of finances, under-protection of assets, human error, human deceit, illegal dealings, erroneous information, the size of the business, staff carelessness, poor judgment or lack of knowledge, collusion by staff, overrides by management for personal gain or other motives and controls failing to capture or flag odd transactions, are all limitations in an organization’s control system (Financial Accountability Handbook, Jan. 2010). Controls that are applicable for larger companies, are not applicable in small businesses. For example, a fewer number people perform the accounting practices in small companies since they do not have the resources or the staff to accommodate segregated duties. These persons may have dual responsibility of operation and custody. The isolation of duties may be missing or severely limited. Below is a more detail description of some of these limitations. 1. Judgment: The effectiveness of controls will be limited by decisions made with human judgment under pressure to conduct business based on certain information or a lack there of. . Breakdowns: Even well designed internal controls can break down. Employees sometimes misunderstand instructions or simply make mistakes. Errors may also result from new technology and the complexity of computerized information systems. 3. Management Override: High level personnel may override prescribed policies and procedures for personal gain or advantage; thus, should not be confused with management intervention, which justifies management act ions to depart from prescribed policies and procedures for legitimate purposes. Collusion: Control systems can be circumvented by employee collusion. Individuals acting collectively can alter financial data or other management information in a manner that cannot be identified by control systems. The internal control system is designed differently within every company depending on its own needs. This allows an organization to put in place ethnical methods and procedures that best suit its practices. The Sarbanes-Oxley Act being implemented reassures stockholders and the public that they can possibly, safely invest again with a less likelihood that similar future occurrences of corporate scandals will occur. There is no sure way to have a air-tight internal control system but if a company stays vigilant about staying within compliance, tying up loophole when discovered and prosecuting when necessary; the problem of mishandled finances may slowly become a thing of the past. Internal Control Principles: . The first internal control principal is an applied establishment of responsibility by one individual. 2. The next principal is the segregation of duties where different individuals have a specific duty. 3. The following principle is the physical, mechanical, and electronic controls. This is where there are individuals, machines and computers working together. 4. The last internal control principal is independent internal verification that employs different departments to specific responsibilities.

Find 5 different ways in which Steinbeck suspends the tension of the moment Essay

1. Stalling the narrative – punctuation 2. Pauses and silence – punctuation 3. Description of sights and sounds 4. Symbolism- light/darkness 5. Verbs and adverbs Ella Hart Practice English Exam Question Steinbeck uses varying methods in order to create tension and suspense within this extract. His use of punctuation has enabled him to use pauses and silences to create tension, â€Å"awright – take ‘im.† The reader can tell that Candy is very reluctant to let Carlson take his dog to be shot but the pause also shows his resignation; he knows he cannot win the argument. Personally, this makes me empathise with Candy as he is defenceless and his kind heart has been taken advantage of, thus creating and suspending tension as we sadly wait for the dog to be killed. Silences within the novel have a similar effect â€Å"The silence fell on the room again†¦and the silence lasted† Steinbeck is using silences to show how awkward the other characters feel around Candy; in such a lonely society no-one knows how to comfort him as they do not know the feeling of a lost companion. The long gaps between speech extend this uncomfortable atmosphere and build up the suspense of the extract as a whole. The stalling of the narrative also suspends the tension; we are anxious to hear of what happens to Candy and his dog but are being distracted by other characters trying to ease the situation. â€Å"Anybody like to play a little euchre?† George is trying to improve the mood of the room and provide both himself and others with a distraction so that they don’t have to think too much about the pain that Candy is going through. As a reader we just want to know about what will happen but these diversions keep slowing down the pace of the narrative. ‘There came a little gnawing sound†¦all the men looked down towards it gratefully.’ The occupants of the room are seizing every opportunity to not have to focus on the current situation; there is a large amount of tension as both the characters and the reader await the gunshot but Steinbeck is providing many diversions that both increase the tension and extend the storyline. Symbolism is very apparent in this extract; Steinbeck uses it to present the unfortunate circumstances that Candy is in and to foreshadow the imminent outcome, therefore creating tension and suspense. â€Å"Gotta bad gut ache,† even though we know that Candy’s pain is due to what he has eaten, it is representative of a gut feeling that something bad is about to happen. The entrance of Whit is also symbolic â€Å"Candy looked for help†¦it was quite dark outside now. A young labouring man came in.† The darkness signifies that there is no hope for Candy now, he is looking for help but there is no-one willing the help him. It represents the end of the dog’s life and the end of Candy’s companionship. We instantly know that the dog will die as death and hopelessness have been denoted, we are just waiting for it to happen, creating suspense. However, the entrance of Whit provides Candy with a false hope; Whit could distract from the topic of the dog and make everyone forget. During this entire part it is very tense for both Candy and the reader, Candy is hoping in desperation that Carlson will be sidetracked and let the dog live on for another day and the reader awaits in suspension to find out what happens. The symbolism of darkness is used again â€Å"He led the dog out into the darkness.† Carlson has finally got his way and Candy’s efforts proved to be in vain, the dog is being led out to its death, and there is no hope for it now. Steinbeck’s use of both verbs and adverbs help to suspend the tension within this extract ‘He pointed with his toe.’ Carlson is being very blunt about his plans to shoot the dog, showing very little consideration to the thoughts and feelings of Candy. By pointing to the dog with his foot he is showing an apparent lack of empathy for the animal, he is very selfish and only wants rid of the dog because of his odour. I personally am angered by Carlson’s actions and want Candy to defend himself and the dog, thus creating tension and suspense as we wait to see if Candy will react. After he has reluctantly agreed to let Carlson kill the dog we are worried for Candy as we know how much it meant to him. ‘Candy lay rigidly on his bed’ he is unable to move due to shock and pain and although he doesn’t want to show this through obvious emotion due to his pride, we know how isolated he feels. ‘He rolled slowly over and faced the wall and lay silent’ again, Candy does not want to show his feelings, by rolling over he is trying to block out the rest of the people along with the very tense atmosphere of the room. By rolling slowly he is showing how vulnerable he is right now, he is a defenceless old man who has just has his only companion taken cruelly away from him. His silence illustrates his new found grief and complete loneliness. These slow, quiet movements that block out the rest of the room make the characters feel very awkward, the tension is suspended and the mood of the room very uncomfortable, no-one wants to be the first to break the silence and distract Candy from his thoughts. Descriptions of sounds are also used by Steinbeck to intensify the suspense felt in the room in this extract. ‘There came a little gnawing sound’ the room is so quiet and tense that mice can be heard but also the men leap upon this chance for a distraction from Candy’s pain. ‘Carlson’s footsteps died away.’ As long as the characters (especially Candy) could still hear Carlson walking they knew that the dog was not yet dead. As a reader, the end of his footsteps left me knowing that the dog only had a matter of seconds left to live, forming suspense as we wait for his death. ‘A shot sounded in the distance’ This is a turning point in the extract, throughout the pages we have been waiting tensely for the death of the dog and at this point we are no longer hoping that Carlson will change his mind because we know it is too late. All the tension that has been suspended is released although the unease felt in the room deepens as the characters sympathise with Candy but do not know how to appease the situation. Throughout this extract Steinbeck has suspended the tension by use of pauses & silences, the stalling of the narrative, symbolism, verbs & adverbs and descriptions of sounds. He has provided Candy with small amounts of false hope but these proved futile. I personally think that the tension and suspense was very apparent and as I read I empathised with Candy and was anxious about his dog.

Criminal Behavior and Policing in America Essay

Criminal Behavior and Policing in America - Essay Example The definition of criminal behavior also changes with place. In some countries of the world, drugs such as marijuana are outlawed, and possession or use brings serious consequences. In other countries, the drug is sold and used openly. In the United States, California, Alaska, Colorado, Hawaii, Nevada, Oregon, and Washington state all allow the use of medical marijuana, although it is explicitly prohibited by federal law. Recently, a San Francisco Circuit Court of Appeals judge ruled that states can make their own medical marijuana laws, as long as the commerce does not involve any other state.  While ideas about the definition of criminal behavior in a time and place influence policing, political values and social conditions also shape our ideas about policing. Ebbe (2000) suggests that each country forms its ideas about policing based on custom and tradition, historical experience, and international events. America is customarily focused on traditions of individual freedom â€⠀œ but we surrender much of that freedom to policing agencies when serious domestic or international events pose a danger to our collective good. In fact, we are willing to surrender our – and our fellows’ – rights to amazing capacities. In American history, we can look to the Alien and Sedition Acts, the Schenck decision, the interment of Americans of Japanese ancestry during World War II, the House Un-American Activities Committee, and the Patriot Act. The notion that it is acceptable to surrender more authority. to policing agencies is well-chronicled and accepted in our nation’s history. Our history also shows periods of real isolationist sentiment that is

Official Development Assistance and Poverty Reduction Essay

Official Development Assistance and Poverty Reduction - Essay Example The Reality of Aid Report (2010:9) though note that the manner in which these agreements are implemented is too technical to actually transform the manner in which aid is governed to actually make it more effective and relevant to the poor for whom it is aimed. It shows that the agreements have not changed the reality of aid relationships since what is actually practised are technical aspects related to aid management rather than a focus on development policy making. The report concludes that even though reforms in aid effectiveness have delivered some benefits, they have not made considerable difference in how aid is viewed or to the extent to which it empowers or improves the lives of those who need it most (pp.25). From ODA’s definition, its key objective is to promote â€Å"economic development and welfare of developing countries† (OECD, 2008:1). Such development such developing healthcare facilities, educational facilities or even infrastructural development is oft en aimed at reducing poverty levels experienced by these countries as it increases the capacity of the countries to earn a decent living and to live in healthy states. In essence therefore one may relate poverty reduction as the key objective of ODA. So if ODA is not able to effectively meet its objectives as noted by the rise in poverty over a twenty year period as shown, then should aid be counted as official development assistance even if it does not reduce poverty levels? This paper argues that nothing should be counted as official development Assistance until it has been proven to reduce poverty. Official Development Assistance (ODA) ODA is defined as aid flows from donor countries of the OECD Development Assistance Committee (DAC) list to countries eligible for such aid found on the DAC... From this essay it is clear that from ODA’s definition, its key objective is to promote â€Å"economic development and welfare of developing countries†. Such development such developing healthcare facilities, educational facilities or even infrastructural development is often aimed at reducing poverty levels experienced by these countries as it increases the capacity of the countries to earn a decent living and to live in healthy states. In essence therefore one may relate poverty reduction as the key objective of ODA. So if ODA is not able to effectively meet its objectives as noted by the rise in poverty over a twenty year period as shown, then should aid be counted as official development assistance even if it does not reduce poverty levels? This paper argues that nothing should be counted as official development Assistance until it has been proven to reduce poverty.This discussion highlights that  ODA is defined as aid flows from donor countries of the OECD Develo pment Assistance Committee (DAC) list to countries eligible for such aid found on the DAC list, these aid must first and fore most be given by official agencies or countries to the other countries or official institutions within the country where each aid is given with the core purpose of promotion welfare and development in the developing countries.  The area of focus of the definition in this paper is on the main objective of ODA whose purpose is to increase development and reduce poverty levels.

PROPOSAL Assignment Example | Topics and Well Written Essays - 2000 words

PROPOSAL - Assignment Example The chief question of the peer reviewer was about the measures that can help solving the problem of gender gap in education In response to the peer reviewer concerns, questions and assessment it has been understood that there is essential need of thinking about the solution of the problem rather emphasizing much upon the problem itself. Hence, there are some major changed made in the proposal and considerable portion of material has been added that speak about the strategies and suggestions that can help in reducing the gender gap in education. After making these changes, it is requested from the instructor to have look at the proposal and inform about its contents. 2. Organizing your argument into appropriate sections This assignment follows a report format for formal proposals. You must organize the content of your proposal into four major sections. Each section has a specific task or purpose. (See the assignment outline under the "Drafting your Proposal" heading above.) Using sect ions creates a reader-friendly report that allows readers to access the points of your argument quickly and easily. As you revise, you may need to rearrange some of the content of your proposal. Highlight your rearrangements and revisions so your instructor will see what you've done. Finally, if you are still unsure of what content belongs in which section, ask your instructor questions about the required organization. The proposal has been organized in these sections. Introductions, Problem definition, proposed solution, reasoning, conclusion 3. Completing your research and filling in the gaps By the end of this week, you must have completed all of your research. As you revise your draft, incorporate ALL the primary fieldwork and any secondary research that you plan to use to support your arguments in this proposal. Highlight your additions/revisions so your instructor will see what you've done. There are some adjustments made in the proposal as per the comments of the instructor. The new changes have been highlighted 4. Evaluating your evidence, supporting quotes/paraphrases. Supporting evidence can't speak for itself. Ask yourself: How well-connected is each piece of evidence in your draft—each example, observation, fact, or quote from an interviewee or survey—to your overall claim? You need to add explanation or commentary with each piece of evidence so that readers can see how and why your supporting evidence is significant. Don't leave readers guessing or assume those points of connection are obvious. In each body paragraph of your draft make specific revisions/additions to add explanation for how each piece of evidence you offer is significant to your overall proposal argument. Highlight your additions/revisions so your instructor will see what you've done. The evidenced are supported by the proper references and in-text citations 5. Acknowledging available alternatives and counterarguments In your first draft, you might not have worked ou t how you would address these issues. How much or how little you will need to address alternatives or counterarguments depends on the nature of your proposal topic and on how well received (or not) your solution will be by your intended audience. If you believe that you need to respond to alternatives or counterarguments, the place to do so is in Section 3 of your proposal. Now is the time to consider adding this discussion to your draft of Section 3. Highlight your

Why is prison overcrowding a growing concern in the US Research Paper

Why is prison overcrowding a growing concern in the US - Research Paper Example The challenge is costing tax payers more money, in US, there are many people behind bars than any other country in the world. According to current statistics by Wagner and Sakala (2014), it is estimated that between 1.4 million to 2 million people in US are in prison. The numbers of people released in jails inclusive of local jails are approximately 688,000. Collection of all information provides a clear perspective of number of prisoners in United States. According to the authors, the U.S. hold 2.4 million people in all states prisons including 1719 states prisons, 2259 juvenile correctional centers, 79 Indian jails, 102 federal confinements, military, immigration and civil confinements. Crowding of correctional facilities is quite significant to prisoners, tax payers and the officials working in confinement centers. An analysis of the topic is important, measures taken to correct problems arising from crowding or overcrowding of state prison can only be done by a study of the topic. This makes it quite significant to every citizen in US. They provide views on how to tackle such difficulties. The crowding effect in US correctional facilities started in early the 1980s due to an increase in criminal activities such as drug use. The war on drugs with tough policies increased the number of inmates in the U.S. Research shows that the U.S. has the highest number of inmates in the world; they are currently higher than prisoners held in Russian and South Africa. Prisons in the southern part of the United States have more inmates that any other region. The state of Alabama contains the highest number of prisoners than any other state. Despite the highest number of prisoners held in Alabama, they also have small number of staff. However, federal prisons in the U.S. saw a decline in the number of admission of prisoners in 2009. There was an increase of prisoners by 430%, which saw the number of prisoners rising from 294,000 to