The End Of The Civil War - 1487 Words

After the American Civil War, African Americans believed that their lives would improve. The Union had won the war, and the United States was whole again. There was hope, and above all, they were finally free. Even things were changing inside the government. Before the Civil War ended, Abraham Lincoln realized the states needed to have government officials loyal to the Unionist cause if the war was to end. So, after encouraging Arkansas to ratify a new state constitution in 1864, Arkansas citizens elected Isaac Murphy as Governor in hopes that Arkansas would rejoin the Union. He proved successful. Arkansas rejoined the Union at the end of the war. Moving forward three years after war, Powell Clayton â€Å"became the one of the youngest governors in Arkansas history† at the age of 34. In his inaugural address, he explained to the citizens everything he intended to do while governor. He warned that if anyone was caught keeping voters from the polls, they would face â €Å"severe pains and penalties of an outraged law† , and he declared that he would form a militia. Clayton, also, encouraged immigration and the railroad, and encouraged citizens to pay off their debts. Most importantly, Clayton created the Board of Education and required the formation of better school systems. All of the ideas presented were great in theory. It made it seem that Arkansas was full of promise for everyone. However, due to several groups of people and certain events, white Unionists andShow MoreRelatedThe End Of The Civil War796 Words   |  4 Pagesgave up the Confederate’s capital of Richmond. (Farmer, 2016) This has been marked throughout history as the end of the Civil War. The war was over before it ever began. Not to make this sound all one sided, meaning that the Union had all the advantages. The Confederate Army had many of their own advantages. The South was made up of 750,000 square miles, which held most of the Army’s War Coll eges. Southern gentleman made for better Soldiers as a results of them being all farmers, hunters, andRead MoreThe End Of The Civil War792 Words   |  4 PagesWhen Henry Woodfin Grady gave his speech in December of 1886 it had been right around twenty years since the end of the Civil War. The Civil War was the deadliest war in American history and happened due to the clear split in lifestyle and values between the North and the South. Grady compares the North and the South to the Puritans and Cavaliers. These two groups of people had completely different lifestyles and values. He acknowledges that the two groups eventually had to come together just likeRead MoreThe End Of The Civil War1073 Words   |  5 PagesFrederick Douglass once said â€Å"What a change now greets us! The Government is aroused, the dead North is alive, and its divided people united†¦The cry now is for war, vigorous war, war to the bitter end, and war till the traitors are effectually and permanently p ut down† (Allen, 2005). In 1861, the start of the Civil War was needed by the Confederacy and the Union. Ever since the American Revolution and the birth of the United States, seventy-eight years earlier, there were many disagreements thatRead MoreThe End Of The Civil War1568 Words   |  7 PagesThere were many factors that contributed to the beginning of the Civil War. Socially, the North and South were built on very different standards. The North was known as the â€Å"free-states† in which they had more immigrants settling in its boundaries. In the North labor was very much needed, within this time it is important to understand that in terms of labor, labor of slaves was not needed. Not in that way. Therefore, the North was made up of a more industrialized society where most people workedRead MoreThe End Of The Civil War1577 Words   |  7 PagesAfter the end of the Civil War, the most challenging, and equally important task for the federal government of the US wa s to reconstruct the defeated South and establish equality for the African Americans. A highly debated and crucial topic in this time period was the rights of the free black men to vote. â€Å"The goal of Reconstruction was to readmit the South on terms that were acceptable to the North –full political and civil equality for blacks and a denial of the political rights of whites who wereRead MoreThe End Of The Civil War Essay1090 Words   |  5 PagesMr. Lara/Mr. Doyle Dec 7 2016 Fords Theatre The end of the civil war was drawing near, and Abraham Lincoln, President of the United States of America was looking forward to the reconstruction of his country. He went out for a play at Fords Theatre. While enjoying the play he was shot in the back by an assassin . This assination changed the future of America, and affects us today. At the end of the Civil War there were very different plans for reconstructing the nation wereRead MoreThe End Of The Civil War1228 Words   |  5 PagesAfter the Civil War, the fact that slavery was abolished might seem to be the end of the story; however, the problems derived from the abolishment of slavery had yet to be addressed. During the Reconstruction Era, these problems were reflected on the political, social, and economic aspects. Which played several major roles in shaping America from the late nineteenth into the twentieth centuries.These three aspects, political, social, and economical, affected one another so much that they were inseparableRead MoreThe End Of The Civil War1446 Words   |  6 PagesThe Civil War, fought from 1861 thru 1865, not only divided the nation into north and south but also became the bloodiest war in American history with over 600,000 casualties. Furthermore, ties between the already unpopular President Abraham Lincoln and congress, to include majority of his cabinet, broke making it ever more evident the discontent of the political body with the decisions the president would make in the months leading to the end of the war. As the war came to an end and the roadRead MoreThe End Of The Civil War1432 Words   |  6 PagesFollowing the Civil War, the Government acquired the task of reassembling the country in a way that would not destroy the peace that had come since the war’s end. Reconstruction centered around striking a balance between the rights of African Americans and white Southerners in order to create a sense of equality in America. Before his untimely death in 1865, Lincoln had begun the task of putting the country back together with the 10% plan. He aimed to pardon every southern Confederate, and readmitRead MoreThe End Of The Civil War1807 Words   |  8 Pages The end of the Civil War should have signified the end of slavery as well; however, this was far from the truth. Presid ent Lincoln’s Emancipation Proclamation referred to only slaves within the southern states (Byng). African Americans found themselves no longer bound to their plantation homes, but they also found themselves without the means or rights needed to make new lives. Many of the attitudes and discriminatory practices present prior to the Civil War were still in effect and continued

Frankenstein Study Guide - 14107 Words

THE GLENCOE LITERATURE LIBRARY Study Guide for Frankenstein by Mary Shelley i To the Teachern The Glencoe Literature Library presents full-length novels and plays bound together with shorter selections of various genres that relate by theme or topic to the main reading. Each work in the Library has a two-part Study Guide that contains a variety of resources for both you and your students. Use the Guide to plan your instruction of the work and enrich your classroom presentations. In For the Teacher you will find these time-saving instructor aids: †¢ About the Work: pertinent background information on the work and a detailed synopsis of its plot. †¢ Media Links: annotated listings of audio, visual, electronic, and print†¦show more content†¦The story opens and ends with the letters of an explorer named Robert Walton, who is searching for the source of magnetism in the northern polar regions. There he finds and rescues Dr. Victor Frankenstein from certain death in the icy ocean. While he is recovering, Frankenstein tells Walton the story of his life. Set withi n Frankenstein’s narrative and Walton’s letters is the first-person story told by the creature Frankenstein created. Frankenstein, a young man from a happy family in Geneva, Switzerland, becomes obsessed with the idea of bestowing life on inanimate matter. He studies chemistry and new theories of electricity at a German university. With this knowledge and with body parts from corpses, Frankenstein creates a large manlike being and brings it to life with an electric spark. Finding the creature grotesquely ugly when it is animated, Frankenstein runs away from it. The creature quickly disappears. For months afterward, Frankenstein suffers from what he calls a â€Å"nervous fever† in which hallucinations of the creature torment him. After his recovery, Frankenstein learns that his young brother William has been murdered near the family home in Switzerland. A young woman who lived with the Frankenstein family is unjustly accused and hanged for the child’s murd er. On his trip home, Frankenstein sees the creature and realizes that he killed the child. Frankenstein seeks solitude high in the Alps, andShow MoreRelatedFrankenstein Study Guide Essay4280 Words   |  18 PagesFRANKENSTEIN Study Guide Homework: Please write your answers on separate paper. Letters 1-4 1. Who is writing Letter 1 (and all the letters)? Robert Walton 2. To whom is he writing? What is their relationship? Mrs. Saville, his sister 3. Where is Robert Walton when he writes Letter 1? Why is he there? What are his plans? St. Petersburg, Russia. He is hiring a crew for his ship. He intends to sail to the North Pole and discover magnetism. 4. What does Robert Walton tell us aboutRead MoreFrankenstein Study Guide Essay1557 Words   |  7 PagesGeneral 1. Title: Frankenstein 2. Author: Mary Shelley 3. Date of publication: Jan 1, 1818 4. Novel type: horror, Gothic, science fiction and tragedy Structure 1. Point of view: Throughout most of the novel it is a first person narrative. The main narrator s victor Frankenstein however there are 2other narrators too; Walton and the monster. Walton’s narration is through letters. 2. Relationship to meaning: The first person narration helps the reader see things from the characterRead MoreMary Shelley s Frankenstein - Original Writing1177 Words   |  5 Pagesargue that the gothic genre is a reaction to the Age of Reason. This movement stressed the power of the human mind. Frankenstein is categorized as this. Identify the genre and specify how this work fits its characteristics. The genre is gothic science fiction. It combines fiction, horror, and romanticism. It display horror in that many murders and deaths took place. Also, Frankenstein was seen as an enemy that struck horror in people’s faces. It is also science fiction because Mary Shelley presentsRead MoreEssay about Frankenstein, the Modern Prometheus?1373 Words   |  6 PagesFRANKENSTEIN, THE MODERN PROMETHEUS? In order to illustrate the main theme of her novel Frankenstein, Mary Shelly draws strongly on the myth of Prometheus, as the subtitle The Modern Prometheus indicates. Maurice Hindle, in his critical study of the novel, suggests, the primary theme of Frankenstein is what happens to human sympathies and relationships when men seek obsessively to satisfy their Promethean longings to conquer the unknown - supposedly in the service of their fellow-humansRead MoreThe Duality of Man: Connections Between Victor and the Monster in Frankenstein1631 Words   |  7 Pages The classic gothic novel Frankenstein by Mary Shelley details the relationship between two significant figures, Victor Frankenstein, and his unnamed monster. The critical relationship between such characters causes many literary critics to compose the idea that they are bound by nature – inadvertently becoming a single central figure (Spark). This provides provoking thoughts on the duality of mankind, revealing the wickedness of human nature. The role of the monster as an alter ego to Victor isRead More Mary Shelleys Frankenstein Essay1312 Words   |  6 PagesMary Shelleys Frankenstein In order to illustrate the main theme of her novel â€Å"Frankenstein†, Mary Shelly draws strongly on the myth of Prometheus, as the subtitle The Modern Prometheus indicates. Maurice Hindle, in his critical study of the novel, suggests, â€Å"the primary theme of Frankenstein is what happens to human sympathies and relationships when men seek obsessively to satisfy their Promethean longings to â€Å"conquer the unknown† - supposedly in the service of their fellow-humans†. ThisRead MoreThe Myth of Prometheus in Mary Shelleys Frankenstein Essay1192 Words   |  5 PagesThe Myth of   Prometheus in Frankenstein    Mary Shelley wrote Frankenstein as a modern day version of the legend of Prometheus. Prometheus created men out of clay and taught them the arts of civilisation (Websters World Encyclopedia CD-ROM 1999). Zeus, the chief god of the Titans, wanted to destroy Prometheus creation but Prometheus stole fire from heaven to help mankind. Zeus punished Prometheus by chaining him to a rock where an eagle would feed on his liver during the day and each nightRead MoreConsequences For Playing God By Victor Frankenstein1438 Words   |  6 PagesCody Flowers Miss. Sibbach English IV 11 December, 2015 Consequences for Playing God Victor Frankenstein in the book Frankenstein faces many terrible situations and has to face many consequences for trying to play God’s role in creating life. Victor seen and dealt with many situations as a young boy that will lead to his madness and obsession with science. Victor has always been intrigued with science and life ever since he was a boy. He studied natural science endlessly trying to master how to createRead MoreEssay on Frankenstein: Development through Romanticism1614 Words   |  7 Pages Mary Shelly’s Frankenstein is a Gothic and Romantic novel written in the early 1800s. The novel opens with Captain Robert Walton as he is sailing on his ship on the search for new and undiscovered territory. During his exploration, Robert’s ship becomes trapped in ice, and he encounters Victor Frankenstein, who looks miserable. When Robert begins to talk to Victor, Victor starts to explain his life story, which ends up being a complete tragedy. Victor tells Robert of his desire to discover theRead MoreFrankenstein And His Creature As One1558 Words   |  7 PagesNick Kelley Ms. Romaguera English IV- A Period 4/7/15 Frankenstein and his creature as one When hearing the word Frankenstein society imagines a boxy looking creature with metal pegs in his neck and a scar on his forehead; in reality Frankenstein is Dr. Victor Frankenstein, the creator of this monster. In the science fiction novel Frankenstein, Mary Shelley examines the deep connection between a creator and his creation. This deep connection perhaps explains the identity confusion between the doctor

Bernard Madoff Fraud Free Essays

Abstract This report allows the facts to be known concerning the still mysterious case of Bernard L. Madoff and his longtime investment securities activities, which eventually turned into an enormous fraud of incomparable size. In this report, you will begin to understand how Bernard Madoff was able to execute such an elaborate fraud. We will write a custom essay sample on Bernard Madoff Fraud or any similar topic only for you Order Now The illegal business behavior found in this case is too numerous to count however, quite a few will be identified. In addition, the roles of the perpetrators, accomplices, and their involvement in this scheme will be made known. This fraud had such an enormous impact on the victims, we will examine several implementations that the private investors could have implemented to protect themselves. An assessment of the perpetrators motives and the identity of some internal controls that could have deterred or prevented the fraud from occurring will be explored also. We will discover the action of the SEC and document how the fraud was discovered and investigated, including what should have been identified as â€Å"red flags†. And finally, a variety of legal actions arose when the Madoff fraud was uncovered, which is leading to more litigation currently and in the future. The Bernard Madoff’s Fraud Introduction Bernard L. Madoff was the mastermind and the admitted operator of the biggest Ponzi scheme in American History. His Ponzi scheme is considered to be the largest financial fraud in U. S. history. He stole millions maybe billions of dollars from unsuspecting clients. Lives were shattered and fortunes ruined. He was a very savvy business man and trader until his investment scandals were revealed at the end of 2008. Bernard Madoff is a former American businessman, stockbroker, investment advisor, and financier. He is a former non-executive chairman of NASDAQ stock market. As the former chairman of the NASDAQ, Bernard Madoff had built a reputable business domain that continuously paid admirable dividends to investors; however, during the investigations by several federal government agencies, devastating facts against Bernard Madoff proved that he was running an elaborate ponzi scheme in order to attract a large number of investors from all over the world. (NBC, 2009) (â€Å"Bernard Madoff Fraud,† 2012) Bernard Madoff managed and controlled his ponzi scheme by using an Investment Securities Limited Liability Company he founded in 1960. He was chairman of this company and continued to operate his scheme until he was discovered in 2008. The fraud concerning Bernard Madoff was and still is the being covered by the media and it is suspected that the United States Securities and Exchange Commission (SEC) was notified and made aware on more than one occasion about this matter but they chose to ignore the information given to them. Perhaps there are more charges that can be filed, although Madoff’s numerous offenses may already be enough to keep him in prison for the rest of his life. Markopolos, 2010) (â€Å"Bernard Madoff Fraud,† 2012) How Madoff Executed the Fraud Madoff’s scheme to defraud his clients at Bernard Lawrence Madoff Investment Securities (BLMIS) began as early as 1980 and lasted until its exposure in 2008. Bernard carried out this scheme by soliciting billions of dollars under false pretenses, failing to invest investors’ funds as promised, and misappropriating and converting in vestors’ funds to benefit Madoff, himself, and others without the knowledge or authority of the investors. To execute the scheme, Madoff solicited and caused others to solicit potential clients to open trading accounts with Bernard Lawrence Madoff Investment Securities (BLMIS) on the basis of a promise from him. He promised to use investor funds to purchase shares of common stock, options and other securities of large, well-known corporations, and representations that he would accomplish high rates of return for client, with limited risk. (â€Å"United states of,† 2009) Among other things, MADOFF marketed to clients and prospective clients an investment strategy referred to as a â€Å"split strike conversion† strategy. Clients were promised that Bernard Lawrence Madoff Investment Securities (BLMIS) would invest their funds in a basket of approximately 35-50 common stocks within the Standard Poor’s 100 Index (the â€Å"SP l00†), a collection of the 100 largest publicly traded companies in terms of their market capitalization. MADOFF claimed that he would select a basket of stocks that would closely mimic the price movements of the S;P 100. MADOFF urther claimed that he would opportunistically time those purchases, and would be â€Å"out of the market intermittently, investing clients’ funds in these periods in United States Government issued securities such as United States Treasury bills. MADOFF also claimed that he would hedge the investments that he made in the basket of common stocks by using investor funds to buy and sell option contracts related to those stocks, thereby limiting potential losses caused by unpredictable changes in stock prices. â€Å"United states of,â⠂¬  2009) Madoff’s Illegal Business Behaviors Exposure Federal prosecutors filed a total of eleven charges against Bernard Madoff. The first of those charges was for securities fraud. The crime of securities fraud involves false claims of investment security holdings, and misinformation regarding stocks and brokerage advice. Sensational insider information is also considered a component of this criminal activity. Another major charge involved three counts of money laundering, both domestically and through international accounts. Money laundering is the funneling of revenue acquired illegally into new monetary arrangements, with the intent of concealing this revenue’s original origins. Plus, in connection with both his securities and investment adviser businesses, prosecutors also charged Madoff with mail and wire fraud. These offenses involve initiating schemes using either the United States Postal Service or telephone systems toward obtaining money and/or property in a false or unlawful manner. (Tomaszewshi, 2010) Perpetrators Involved in Bernard Madoff’s Fraud It’s certainly not uncommon for one’s son or daughter to enter into an identical business relationship as a successful family member such as a parent. However, in Bernie Madoff’s case this approach was taken to extreme levels of nepotism. Peter Madoff entered his brother’s firm in 1967, and as business prospered he began to accumulate several executive titles: Senior Managing Director, Head of Trading, and even Chief Compliance Officer for both the broker-dealer and more secretive investment advisor business models. Bernie’s sons Mark and Andrew joined the firm in the mid-to-late 1980s, and eventually were made co-directors of Madoff Securities International in London, England. Bernie’s nephew Charles joined up in 1978, and became the Director of Administration for the investment firm. And Peter’s daughter Shana was hired on in 1995, and served as in-house Legal Counsel and Rules Compliance attorney for the broker-dealer business. Other parties greatly impacted by Bernie Madoff’s activities were his business associates and their many clients over the decades. For example, Frank Avellino and Michael Bienes themselves funneled over three thousand clients to Madoff’s investment advisory business. Madoff had consistently advised the pair to remain unregistered in their dealings. But when the SEC accused the duo of illegally selling securities, Madoff pretended ignorance of their activities, even though he had secretly instructed them all along. For their trouble, Avellino and Bienes were forced to pay a fine of three hundred and fifty thousand dollars and shut their business down. Other notable business partners eventually left in the lurch by Madoff’s growing fraud would go on to include Jeffrey Tucker and Walter Noel of Fairfield Greenwich Group. Non-related people who had worked under Bernie Madoff also became tainted from the association following his arrest. This employee group includes those who may have had indirect dealings through Madoff subsidiaries like Cohmad Securities Corporation. However, the idea also applies to those employed directly, such as former executive assistants Elaine Solomon and Eleanor Squillari. Jeffry Picower was in industrialist and philanthropist who seemed to be a favored Madoff beneficiary, and made outlandish profits from his investments with Madoff. From 1996-2007 there were 14 instances of greater than 100% yearly returns and 25 of greater than 50%. From 1996-1999 his regular trading account made from 120-550% a year. Some evidence of backdating trades, instituted by Picower, has been presented by trustee Irving Picard. In December, 2010, his estate returned $7. 2 billion in profits to the government. Picower died before the settlement. (Tomaszewshi, 2010) Motives of the Perpetrators The various perpetrators who were involved in Bernard Madoff’s Ponzi scheme had different kinds of motives that were completely against the provisions evident in federal laws. Jeffry Picower had over twenty four different accounts with Investment Securities LLC and he operated them closely with Barbara who was also his wife. The motive of Jeffry Picower and his wife in Investment Securities LLC was to benefit from the cash windfall generated from devious deals according to reports; his investment into Madoff’s company was once worth over one billion dollars. Kirchner, 2010) Annette Bongiorno was a senior employee at Bernard Madoff’s illegal company and among her roles at the firm she was to brief investors concerning their returns which were all fictitious. Ezra Merkin was an investment expert who assisted Bernard Madoff to drain off extraordinary amounts of money from clients’ accounts and it later emerged that he had a conflict of interest in the Madoff company. With its headquarters in Connecticut, Fairfield Greenwich Company misled investors into buying stakes at Madoff‘s illegal firm and in return, the company received huge amounts of cash from Bernard Madoff. NBC, 2009) Frank DiPascali was also another essential figure in Bernard Madoff’s illegal investment scheme. One of the frauds committed by Frank is that he engaged in countless number of international money laundering activities to benefit Madoff’s scheme. In addition to this, DiPascali also gave Mr. Madoff expert advice on how to go about his illegal businesses without being caught or detected by the federal authorities. (Arvedlund, 2010) (â€Å"Bernard Madoff fraud,† 2012) Controls That Could Have Deterred the Fraud from Occurring Despite the fact that Bernard Madoff’s investment fraud was one of the largest to ever rock the United States of America, there are various strategies that might have prevented or deterred the fraud from occurring. To begin with, the United States Securities and Exchange Commission (SEC) should have without delay acted on the numerous signals that it received from different quarters. As the main regulatory authority of American investment activities, it would have been easy to identify weaknesses in Bernard Madoff’s shady deals. A major loophole in the federal laws of the United States of America also had a significant input towards enabling Bernard Madoff’s illegal activities to spread at a very rapid rate; for instance, there is a provision that stipulates private companies in the United States should only pay 5% of their annual revenues. (NBC, 2009) (â€Å"Bernard Madoff fraud,† 2012) Implementations That Investors Should Have Used to Protect Themselves While some investors may yet believe they were tricked into believing Bernie Madoff’s elaborate confidence game, it is also arguable that there were means to protect themselves at their disposal. One method would be to practice due diligence whenever one is presented with new financial opportunities. Many investors were led astray on the poor advice of their won friends and family, which isn’t a fiscally sound means of verification. Independent research needs to be done on the workings of any financial organization, even those that are supposedly reputable on the surface. One should investigate third-party custodial relationships at investment firms, and review their auditing practices. (Tomaszewski, 2010) Another way to avoid fraud is to actively request documentation. Hand written notes from intermediaries are highly suspicious evidence that revenue is being transacted in a professional manner. Getting activity in writing must be joined to verifiable account numbers for auditing. Finally, a forceful amount of skepticism will often prevent one from falling into schemes which seem on the surface to be easy money generators. For instance, one should never believe the speculators on television. An unlicensed financial consultant is about as reliable an agent as allowing unreformed gambling addict free access to one’s personal treasury. Investors should not assume that overseers are actually doing their jobs, as even they might be in on the take. (Tomaszewski, 2010) The United States Securities and Exchange Commission (SEC) Involvement Critics and popular journalists from prominent media houses in the United States of America have called into question the manner in which the Securities and Exchange Commission handled the fraud case involving Bernard Madoff. This is due to the fact that even the commission itself has acknowledged that it should have detected Madoff’s illegal activities as soon as they began. The first major mandate or responsibility of the Securities and Exchange Commission is to interpret the laws pertaining to federal securities; such as, the commission should have detected the fundamental flaws in Bernard Madoff’s investment activities at an earlier stage. The second major responsibility of the Securities and Exchange Commission is to work closely with international state and federal authorities towards ensuring that investment securities are controlled and channeled in the right paths. Arvedlund, 2010) Most notably the Securities and Exchange Commission failed to fulfill its mandate of evaluating the conduct of privately owned companies like Investment Securities LLC for a very lengthy time. The commission should have also been at the forefront of investigating the investment advisors who collaborated with Bernard Madoff to divert huge amounts of money from unsuspecting investors into their accounts. However, the Securities and Exchange Commission published a detailed report in the year of 2009 that documents how Bernard Madoff’s scam escaped their attention for all those years. (Strober, 2009) (Millstone, 2010) How Madoff’s Fraud was Discovered and Identifiable Red Flags His business came to be under the doubts of various financial analysts as early as 1999. They believed that the returns claimed by the company were only theoretically impossible. But organizations such as the Securities and Exchange Commission (SEC) completely ignored the doubts and Madoff continued with his overtures for almost another 10 years. He finally got caught in December 2008. He was trapped after he confessed about his dishonesty to his very own sons. He confessed to his sons of his investment business being nothing but a big Ponzi scheme. His sons now reported his father’s fraud to the Federal Bureau of Investigation. Though Bernie confessed to have had started his Ponzi scheme in the 1990’s, investigators think otherwise. They believe the Ponzi scheme and defrauding of investors had begun in the 1980’s itself. Now what actually happened was that in the very first week of December 2008, Bernie Madoff discussed his dilemma over having to pay his clients an amount of almost $7 billion as he didn’t have that much funds. Now within the very next two days Bernie told his sons that he made a huge profit and had decided to give away an early bonus, amounting up to $173 million. This confused the sons and they called for an explanation from their father. This is when their father confessed that his whole company worked through a â€Å"giant Ponzi scheme†. On December 11th 2008, Bernie Madoff was taken into house arrest. Had the stock market not had been in a sharp decline in 2008, who knows how much longer the fraud could have continued. (Degrace, 2011) After writing that Madoff offers the biggest due diligence lesson for investors, some argued that the red flags are only obvious in hindsight and wouldn’t have been so clear if one had to make the decision before Bernard’s admission of running a Ponzi scheme. So let’s count the red flags to see if they were numerous enough and obvious enough to be easily recognized. (1) Madoff Investment Securities was both the broker dealer and investment advisor. (2) Madoff traded in the same securities that he recommended to advisory clients. (3) Madoff not only was the broker dealer, creating a conflict of interest where his firm was trading in the same securities as he was trading for clients, but he actually had custody of the assets. (4) They got into some hot water over some small compliance issues. Madoff’s firm was censured and fined a small amount $7,000. This meant they did have a blot on their records. (5) Jim Vos, head of Aksia – a hedge fund advisory firm, noticed that although Madoff’s firm was supposedly highly advanced and automated, they sent paper copies of their trading records to clients instead of providing electronic access to the firm’s trading platform. (6) Madoff Investment Securities’ auditors were Friehling Horowita, a 3 person team which consisted of one lone CPA with a small 13’ by 18’ office in New York. It hardly had adequate room to monitor a firm that traded a good chunk of NYSE and NASDAQ volume. 7) Shockingly enough, Madoff didn’t take the usual 2/20 fees most hedge funds do. Instead he only profited from the trades that his firm was doing for the â€Å"investment fund†, claiming that this was enough. Given this form of compensation, it is very possible most â€Å"sophisticated investors† assumed that Madoff was involved in some sort of shenaniga ns but turned a blind eye for those stable returns. (8) Madoff Investment Securities was a family business, with Madoff’s brother, sons and daughter as well as his niece (married to a previous compliance officer) all worked at the firm. â€Å"The madoff red,† 2008) The Case Resolution Bernie was charged of federal offences like securities fraud, mail fraud, wire fraud, perjury, and money laundering, false statement making only to name a few. He pleaded guilty and was banned from security investment business for a lifetime. He was sentenced to the highest degree of punishment possible under this act; an imprisonment of 150 years. He was sent to the Federal Prisons of North Carolina where he is registered as inmate number #61727-054 and his release from prison is dated November 14, 2134, a day he shall never see keeping in mind that he is now aged 71 years. Degrace, 2011) Conclusion Investment portfolios are one of the most recommended ways to enhance economic developmen t not only at a personal level but also at a national level. However, Bernard Madoff chose to follow the short-cut to success by defrauding billions of dollars from investors. He begun very humbly by establishing a company called Investment Securities Limited Liability Company; he had begun with a figure of $5,000 as a penny stock broker but apparently, he had accrued this money from his previous job where he worked as an installer of water sprinklers and also a guard. This took place in 1960 but little did investors know that it would grow to become the largest Ponzi scheme in the history of the United of America. Bernard Madoff drew assistance from all kinds of corners; various perpetrators who were involved in Bernard Madoff’s Ponzi scheme had different kinds of motives that were completely against the provisions evident in federal laws. However, all this culminated in the arrest and sentence of 150 years in prison on the 29th of Junes 2009. References 1. Arvedlund, E. (2010). Too good to be true: the rise and fall of Bernie Madoff. Penguin Group. . Bernard madoff’s fraud. (2012, June 07). Retrieved from http://www. customwritingtips. com/component/k2/item/8295-bernard-madoff’s-fraud. html 3. Degrace, T. (2011, April 14). Bernie madoff fraud the history of the $50b Ponzi scheme scam. Retrieved from http://www. stockpickssystem. com/bernie-madoff/ 4. Kirchner, B. (2010). The Bernard Madoff Investment Scam. NJ: Pearson educati on, Inc. 5. Markopolos, H. Casey, F. (2010). No one would listen: A true financial thriller. NJ: John Wiley Sons. 6. Millstone, K. (2010, March 09). How madoff pulled it off. Retrieved from http://www. cbsnews. com/2100-500395 162-4862910. html 7. NBC (2009). How Madoff got away with fraud. Accessed on 8th December 2011 from http://www. theprosandthecons. com/videos/fraud/bm-how-madoff-got-away-w-fraud. htm 8. Strober, D. H. (2009). Catastrophe: The Story of Bernard L. Madoff, the Man Who Swindled the World. Phoenix Books. 9. The madoff red flags, let’s count them. (2008, December 17). Retrieved from http://www. tradersnarrative. com/the-madoff-red-flags-lets-count-them-2154. html 10. Tomaszewski, K. (2010, November 21). Bernard lawrence How to cite Bernard Madoff Fraud, Essay examples

Premier Gas Range An Evaluation Essay Example For Students

Premier Gas Range: An Evaluation Essay Many different ranges can be fit into small apartment. However, it takes a well designed, well-put-together and overall well-functioning range to comfortably suit the needs of a family. My intention by writing this essay is to evaluate the Premier 24 inch gas range that was included with my apartment. I hope to accomplish this by objectively assessing my experience throughout my use of the range. I will be pointing out both the pros and cons I have experienced. I will evaluate this range using the criteria of aesthetics, functionality and practicality. I will list the pros and cons associated with each criterion and then I will express my personal opinion based on my experience with the range. The range itself is not unaesthetic. Its color is white. Being only twenty four inches wide and twenty four inches deep, it is smaller than the more widely used 30 range. It has an oven that is also smaller than in a more common unit, and it has a slide-out drawer presumably for storing pans and bake ware. At its unusual length it leaves a space between its edge and my countertop allowing space for bits of food and other undesirables to fall in between. We will write a custom essay on Premier Gas Range: An Evaluation specifically for you for only $16.38 $13.9/page Order now This spacing problem however, is not uncommon no matter the range in question so I will not count that as one of the things I consider to be a con in regards to the Premier. The Premier is three feet, six inches high and there is a space of about eight inches between the two steel racks in the oven. There is no window or light inside the oven. There are four gas burners on the top. The stove burners are controlled by four dials positioned in a straight line across the face of the range. The dial for the oven sits directly in between the first two and last two stove dials. There are no markings of any kind, anywhere that indicate the temperature of neither the oven nor the stove burners. I found this quite odd. There are four iron guards over each stove-top burner allowing you to sit pans and pots directly over the gas flame. Each guard consists of an iron circle with three pieces of flat iron folded into V shapes with the angle of the V facing the center. The unit is described as a stand-alone unit, meaning its not connected to any ventilation or smoke fan. In regards to looks, there is not much particularly displeasing about this range. The fact that there is no temperature gages printed on the dials is certainly a huge drawback overall and is specifically a con associated with the appearance of a range. When looking at your stove, its important to be able to see that its possible to assess the temperature. Although unusual, the stoves size is advantageous when placed in a small kitchen. It is likely that a full size stove would look bulky and overbearing in a kitchen as small as mine; so in this case, the size of the stove works in its favor. My overall opinion is that the range is OK aesthetically. The function of a range is simple; to provide adequate heat for the purpose of cooking. The Premier 24 inch gas range does release heat. However I do not believe it does so accurately. Because there are no temperature gauges, finding the right temperature is very difficult to do. When using the oven, its impossible to know whether or not the oven is the right temperature for a recipe that calls for 375 degrees. The user of the range is forced to estimate, which in most cases results in either too much or too little heat. .ub4fd5e987fe1718daccdf65bef812531 , .ub4fd5e987fe1718daccdf65bef812531 .postImageUrl , .ub4fd5e987fe1718daccdf65bef812531 .centered-text-area { min-height: 80px; position: relative; } .ub4fd5e987fe1718daccdf65bef812531 , .ub4fd5e987fe1718daccdf65bef812531:hover , .ub4fd5e987fe1718daccdf65bef812531:visited , .ub4fd5e987fe1718daccdf65bef812531:active { border:0!important; } .ub4fd5e987fe1718daccdf65bef812531 .clearfix:after { content: ""; display: table; clear: both; } .ub4fd5e987fe1718daccdf65bef812531 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ub4fd5e987fe1718daccdf65bef812531:active , .ub4fd5e987fe1718daccdf65bef812531:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ub4fd5e987fe1718daccdf65bef812531 .centered-text-area { width: 100%; position: relative ; } .ub4fd5e987fe1718daccdf65bef812531 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ub4fd5e987fe1718daccdf65bef812531 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ub4fd5e987fe1718daccdf65bef812531 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ub4fd5e987fe1718daccdf65bef812531:hover .ctaButton { background-color: #34495E!important; } .ub4fd5e987fe1718daccdf65bef812531 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ub4fd5e987fe1718daccdf65bef812531 .ub4fd5e987fe1718daccdf65bef812531-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ub4fd5e987fe1718daccdf65bef812531:after { content: ""; display: block; clear: both; } READ: ICT Educational Tour Narrative Report EssayAgain, I conclude that this is because of the units lack of temperature gauges. This lack of a fundamental part of the makeup of a range is a problem associated with all three of the areas of aesthetics, functionality and practicality. I also rate the functionality of this unit low because large amount of natural gas that is fed through the appliance. The somewhat large gust of gas released before the spark igniter ignites the flame and the amount of my natural gas bill during the summer month both allude to this. The former statements were the cons associated with the functionality of the range. In regards to the pros, the range does function as a range. However, it does not function as accurately and effortlessly as you would expect with a range. My overall evaluation of the functionality of the range is that it functions under-par when compared to other ranges of the same class. When evaluating the practicality of this range, the ranges performance in any given setting must be assessed. In this case, we look at the ranges performance in a small apartment, used by a family of four. The Premiers excess gas usage mentioned in the evaluation of its functionality also translates to excess heat produced by the range. This makes it less practical for use in a small space. Also, the fact that the Premier 24 inch range is a stand-alone-unit and is therefore not connected to any ventilation allowing the expulsion of hot air and smoke, adds to its impracticality. The ranges size however, makes it practical for a small apartment and is most likely along with the price of the range the reason that the Premier selected as the range of choice. In conclusion, when making an overall evaluation of the Premier 24 inch gas range, in the opinion of the writer, its possible to find a better functioning range that is more practical for a home this size and is just as aesthetically pleasing at, or around the same cost. When compared to other ranges of this class the Premier is rated low. However the evaluation if this range would have been considerably more favorable had there been one change; and that is the lack of temperature gauges, which in the opinion of most, is an essential part of any device or appliance used for cooking.