The Pros And Cons Of Wicca And Paganism - 1059 Words

The following paper will talk about Wicca and Paganism as a religion within the United States. Wicca is a diverse community as a religion, but is not yet considered by any Supreme court case but some aspects such as traditions are recognized by the federal and state courts. This will be further touched upon further later on. Interestingly enough, while not only being one of the fastest growing religions, it is also a religion that most find their selves staying with if it what they were raised in (Banerjee, 2007). One criticism I would have for this is that it is a very new religion, so by saying that people are more likely to stick with Wicca compared to any other religion is swayed due to the age gap of religions. Another would be that†¦show more content†¦The tables used to altars can range from large to small, as long as it is used in the proper form. In comparison to other religions in the United States, and altar is similar to shrines in temples because it is where people of faith will pray. As with altars having comparable traits to a shrine, there are other comparisons of the Wiccan religion to the more traditional religions of the United States and the rest of the world. For instance, praying is comparable to meditation in Wiccan society. Even with this comparison of prayer and meditation, Wiccans pray to their God and Goddess. This will be elaborate later on. Another comparison is initiation. Most, if not all Wiccan, go through initiations which is a ceremony that initiates them fully into the dedication of Wicca. One can do this alone, but it is recommended to be initiated with a Wiccan group, instead of solidarity. It is important to note that Wiccans are not the type of witches that are often portrayed in Hollywood films nor do they necessarily look as you have been taught to expect. Many turn to Wiccan or Paganism because they find their selves to be lost within their culture and society. Reasonings as to why the Wiccan lifestyle as a religion is charming to people is because they tend to be open to most with an open mind. Free thinking is encouraged and meditation is a regular thing to gain positive energy. The positive aspect is what people find to be the

I Know Why The Caged Bird Sings By Maya Angelou - 1391 Words

Maya Angelou’s debut autobiography is an article of literature that depicts the life of a young black girl growing up in a world pitted against her, and the resilience she found in herself in order to survive. Angelou is a voice that is not often heard. In a world dominated by a white male narrative, the plights of the minority are often overshadowed. Thus, I Know Why the Caged Bird Sings is an imperative novel as it articulates the life of not only Angelou, but also of the unique experiences that black women in the Jim Crow era faced. The most important part of the novel is arguably what is described in the prologue. After humiliatingly being tripped by a child while walking to her seat in church, a young Maya runs out of the building while simultaneously laughing, crying, and peeing. During this, she acknowledges that her actions will earn her a whipping. The moment alludes to Maya’s journey into becoming an independant woman. Though she faced the cruelties of racism, sexism, and trauma, her strength let her overcome adversities, even when aware of the repercussions. Following their parents’ divorce, three year-old Maya and four year-old Bailey make their way to their way from California to the segregated town of Stamps, Arkansas, to live with their paternal grandmother, Momma. In her new home also lives Uncle Willie, who helps run Momma’s store, which serves the black community. Both Momma and Uncle Willie strictly enforce rules, religion, and education. Life in StampsShow MoreRelatedI Know Why The Caged Bird Sings By Maya Angelou Essay2303 Words   |  10 PagesOne of the quotes that Maya Angelou spoke about goes â€Å"History, despite its wrenching pain, cannot be unlived, but if faced with courage, need not be lived again.† In two of the poems written by Maya Angelou ‘I Know Why The Caged Bird Sings,’ which inspired millions of readers helped tackle difficulties related to themes such as racism, sexual abuse, equality. â€Å"Still I Rise† explores the idea of racial discrimination along with Abel Meeropol â€Å"Strange Fruit† and ‘Caged Bird’ which was sang by AliciaRead MoreI Know Why the Caged Bird Sings - Maya Angelou6502 Words   |  27 PagesAnalysis: Chapters 1–5 The lines from the poem Maya cannot finish, â€Å"What are you looking at me for? I didn’t come to stay . . .† capture two of the most significant issues she struggles with in her childhood and young adulthood: feeling ugly and awkward and never feeling attached to one place. First, Maya imagines that though people judge her unfairly by her awkward looks, they will be surprised one day when her true self emerges. At the time, she hopes that she will emerge as if in a fairy-taleRead MoreI Know Why The Caged Bird Sings By Maya Angelou886 Words   |  4 PagesChampion of the World is a chapter in Maya Angelou s book I Know Why the Caged Bird Sings where the focal point describes a very significant event to the African American people during her adolescence. It shows a 1930’s black community fired up about a fight over racial resentment build up over the past years. The famous African American boxer, Joe Louis, it fighting for his title against a white contender. The story explains in detail the overwhelming amount of excitement and eagerness comingRead MoreI Know Why The Caged Bird Sings By Maya Angelou1609 Words   |  7 PagesI Know Why the Caged Bird Sings by Maya Angelou displays several characters who each own a voice that they make their own. Throughout the memoir, the reader learns about Angelou’s life, including the people that she grew up with as a child. One of the main characters that had a significant impact on Angelou as she was growing up was her brother, Bailey. Bailey helped Angelou understand the life around her as she was trying to navigate the world. He was a strong role model that she could look up toRead MoreEssay on I Know Why the Caged Bird Sings by Maya Angelou2409 Words   |  10 Pagesskin. Since they were evidently treated differently, many despised the fact that they were black. As a result of their helpless circumstances, it was understandable that many blacks during that time lacked confidence and sel f-acceptance. Maya Angelou was an African American girl who grew up during this challenging time. During her childhood, she witnessed and experienced racial prejudice first hand. She had difficultly understanding and accepting the consequences that accompanied belongingRead MoreI Know Why The Caged Bird Sings By Maya Angelou Analysis840 Words   |  4 Pagesperson is none other than Maya Angelou. Angelou has been a famous American poet since the release of her 1969 autobiography, I Know Why The Caged Bird Sings. Angelou has inspired many people by telling her life story to the public, but not only did she inspire, she also created a very different and personal point of view of the world we live in. The poem’s she has written transition from pain and suffering or to courage and confidence. Nonetheless, even though Angelou wrote mostly about anguishedRead MoreMaya Angelou s I Know Why The Caged Bird Sings913 Words   |  4 Pages Maya Angelou’s I Know Why the Caged Bird Sin gs is an autobiography that describes the coming of age of a Southern black girl who overcomes society’s cruelty as she grows up. Taking place in Stamps, Kansas during the 1930s, the autobiography captures Marguerite Ann Johnson’s, or Maya’s, battle of finding herself and coming to terms with who she is while growing up in a time period comprised of oppression and discrimination. Furthermore, Maya endures many childhood hardships due to her race, and sheRead MoreMaya Angelou s I Know Why The Caged Bird Sings701 Words   |  3 PagesMaya Angelou: â€Å" I Know Why The Caged Bird Sings† In this poem Maya Angelou talks about the civil rights movement. She also express her personal life of what she went through such as being raped at the age of 6 by her mother’s boyfriend and also becoming mute for 5 years. She also states how she got pregnant and had to raise a child at 16. All these events led up to writing this poem from a caged bird that sings point of view. â€Å"Remembrance† In this poem Maya Angelou express how she was being rapedRead MoreMaya Angelou s I Know Why The Caged Bird Sings1888 Words   |  8 Pages Maya Angelou once said â€Å"We may encounter many defeats but we must not be defeated† and this phrase speaks volume in comparison to Angelou’s life story. She was born Marguerite Ann Johnson on April 4th, 1928, in St. Louis, Missouri. The name Maya was given to her by her older brother, Bailey Jr. Maya Angelou is not only a sister, but also an inspirational role model, a mother, an author, a poet, a civil rights activist, and an actor. In 1969 Angelou’s world renowned book â€Å"I Know Why the Caged BirdRead MoreI Know Why The Caged Bird Sings By Maya Angelou2313 Words   |  10 Pagesknown as â€Å"Maya† sees beauty as being a blond white girl instead of an African American girl. Becoming a white girl is the only way she feels that she can escape the black hole that she feels she’s so constantly sucked int o. In the book, â€Å"I Know Why the Caged Bird Sings†, written by Maya Angelou, Marguerite states â€Å"I was going to look like one of the sweet little white girls who were everybody s dream of what was right with the world†(Introduction). Also, Marguerite states â€Å"Because I was really

Commerce Bank free essay sample

Commerce Bank has the good outstanding achievement in the banking sector, it is not enough to stop going forward, Commerce Bank wants to become the strong performer in whole business market and it also wants to leave a good impression on their customers whatever in head office or other stores. The â€Å"Retailtainment† is the main service point for â€Å"WOW! ng† customer of Commerce Bank, it provides many special free services for their customers. With these innovates, many other competitors were beginning to copy. Some people thought this is good, but some people are not. These innovates are good, but there also has some problem, such as how to make these special services on the same level in different branches, and is it a really good strategy for Commerce Bank? Background Deborah Jacovelli as a dean of Commerce University, she had many innovative methods to energize the company’s employees (Frei, 2006), and develop Commerce Bank. We will write a custom essay sample on Commerce Bank or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The top priority of Commerce Bank is â€Å"happy customers†, which emphasized the customer for the purpose. Commerce bank also uses a special kind of person to deliver the high-quality customer service. Jacovelli and her coworkers use internal system of incentives and cultural training implemented to â€Å"WOW! ing† customers, such as awards, commendations, and compensation, even training and education (Frei, 2006). Vernon W. Hill II is the Commerce Chairman and CEO, who hope when customers visit Commerce Bank will get high quality service exceed their expectation. As the branch of the Commerce Bank, they look like the â€Å"stores†, such as Starbucks, so they are totally different than other banks next door. Hill thought Starbucks is a good example, there are a much of retail experience we need to learn from Starbucks. Hill founded Commerce Bank in 1973 (Frei, 2006) with $1. 5 million in southern New Jersey. He wants to build up a very special bank, and totally different than other banks. With the bank grown, there are many branches be built up in Pennsylvania, Delaware, and New York. Commerce Bank opens from 7:30AM-8:00PM in a week, and changed hours on weekend. Branch is opened until midnight in a busy location. There also has the friendly service, and Commerce will give a free gift to each customer who opens the new account, and it also provides many special free services for them, such like coffee, newspapers, or some entertainment activities to the lobbies. There are a lot of ways to make deposit, other banks will push consumers online, but nobody has the right to push people where they don’t want to go. But in Commerce Bank, who will give the best of every channel to consumers, the consumers can choose whatever they want. Everyone knows New York City is the most over-banked market in the country. Therefore Hill began to enter this biggest market earth shattering. He spent $500,000 per branch on promotion, included direct mailings, ads, phone kiosks, and with the help of street vendors and so on (Frei, 2006). Success was immediate. Hill thought business should continue to grow, but build a bank is easier than to fix one. Commerce uses 18 years to grow to $1 billion in deposits, but the final goal of Commerce is to reach $100 billion deposits and 1,000 locations from Washington, D. C. to Boston (Frei, 2006). Problem Statement Commerce Bank was to stay ahead, who wants to leave a clear impression in customer’s minds. It paid more attention on its service, not price. Retailtainment is the mean idea of Commerce Bank. Analysis For Commerce Bank, the good relationship between bank and customers is the most important thing, who wants to keep a high customer loyalty, than care about the profitability. Although Banking industry paid more attention on on-line bank, but for Commerce Bank, who training their employees at University center, and prepare for a good service of face to face. Commerce Bank was focusing on providing the good service for each customer, which is totally different than other competitors. It put a large amount investment into its special service, or â€Å"Retailtainment† for customers, therefore it ignored to improve the products. At Commerce Bank’s front door, every customer were served as same as feeling at home. Most of people like it with this special business strategy, on the other hand, some people will complain about the service is too much, there is lack of tellers. There also has a really good system in Commerce Bank, which called â€Å"WOW†, and this program also make its profits increased from 1998 to 2001. For this unique Commerce Bank, its customers are categorized as personalizing and convenience customers. The personalizing customers who very enjoy the good and special service experience, and like staff known them and treated them very friendly. On the other hand, for convenience customers, they like the special work time of Commerce Bank, which is open until midnight and on Sundays, it always shows convenience for customers. To keep a higher and better service quality is not easy. Therefore Commerce Bank’s efforts are directly related to their customer’s satisfaction. There has the internal incentive programs to improve service, and the training and education program to provide a good opportunity to learn how to provide a good service. For Commerce Bank, customer’s needs and opinions are very important, which will encourage it become more excellent in Banking industry. Therefore, for Commerce Bank’s Retailtainment strategy, it also has notable gaps. The special service delivery is excellent, but the â€Å"Retailtainment† decreases the service quality, and customer perceptions. Recommendations and Conclusion We had to admit to Commerce Bank’s Retailtainment strategy is a good and innovative idea, but it also has certain elements we should be reviewed. We know loans can bring a lot of revenue for banks, so Commerce Bank can put a large of investment to improve the training of employees, and make a lot of money from loan, not cost a lot of money to inconsequential, such like hot dog. Like Bank of America, who only use TV for waiting customers. Commerce Bank also can use Service Encounter Traid to improve customer service quality, which will help it to improve their shortfalls between the service organization and the customer. They can hire a new bank teller to develop their service to the customer, not hire a new greeter. The customers of bank maybe like the good experience to feel like at home, but they most important thing is in which bank can give them the best interest rates and highest deposit rates. From the feedback form customers, the service of Commerce Bank is too much, so they should to find a balance between the entertainments and establish a professional and competitive atmosphere. Commerce Bank needs to think some efficient solutions to decrease cost and earn more money. In a word, Retailtainment strategy is good for Commerce Bank, it is very easy to differentiate with other banks, while it not a stable plan in the long run. Commerce Bank needs to decrease cost of Retailtainment strategy and think about other traditional method to keep the good profitability in the banking industry. References Frei, F. X. (2006). Commerce Bank, Harvard Business School.

Middle Class Dillusionment free essay sample

In 1958, a man named George Mowry explains s economic, social, and political divisions of the progressivism movement. The progressivism movement ties in a lot with our society today and shows how history does indeed repeat itself. Mowry describes the good, and bad of progressivism, but emphasizes the bad. Mowry is really trying to exhibit the differences between capitalism and socialism in his essay and explain why progressivism is not good for the well being and future of America, which can be proven today but our economic instability and division as a nation. More importantly however Mowry displays how progressives try to create, â€Å"heaven on earth† by their moral actions. Mowry first describes the type of people who are involved in progressivism. People who were involved in progressivism were the solid middle class, who were intellectual and ethical climate of age, a significant cluster of prejudices and biases, and people who created great inventions, beautiful pictures, and the law. We will write a custom essay sample on Middle Class Dillusionment or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The people of the solid middle class were lawyers, newspaper, publishing, independent manufacturers, merchants, medicine, banking, and real-estate. The progressive leaders included the Chicago tribune family, and Charles Evan Hughes, â€Å"if names mean anything, an overwhelming proportion of this reform group came from old American stock with British origins consistently indicated. † More dangerous than rich people who inherited money from their ancestors was their rich youth, â€Å"Obviously this was a period, like the ones after the war of 1812 and 1850’s, when energetic and incautious youth took command. † This is ironic because all of their ancestors earned their money through capitalism and that’s what progressives are trying to take away now. Religious affiliations of the progressivism movement were the woman of the Quaker faith, and Jewish faith. Overall the progressives hated the economic system of capitalism, believed that the wealthy are bad people who we must take away money from and give it to the masses, and most of these people are young. Joseph Medill Patterson, whose godfather founded the Tribune resigned from the Chicago commissions of public works to become a socialist. Patterson believed it was impossible to reform a city under capitalism, â€Å" he announced , it was impossible to reform the city and country under capitalism. Patterson was exemplifying capitalism vs. socialism. Capitalism is the idea that Capital is owned, operated, and traded for the purpose of generating profits for private owners or shareholders. Emphasis on individual profit rather than on workers or society as a whole. On the other hand socialism is according to his/her ability, to each according to his contribution. Emphasis on profit being distributed among the society or workforce in addition to receiving a wage. Today we can see many links between capitalism and socialism. Our government today is run on progressivism/ socialist ideals. President Barack Obama has several plans and ideas to help the poor by giving them the money of the rich people, and supplying them with health care (obamacare) and so on. Progressives wanted to help people, they wanted to help the poor, this was not morally wrong but many other people saw that this was hurting our economy. Our government is socialist/ progressive because they want to have government control over other money and they want to have the ability to decide where that money goes. But you can’t just do that. If those people earned their wealth they should have every right to keep it, they should not be entitled to try to help the poor. Furthermore during this time of the progressivism movement there were many Democrat-republicans who supported the idea of progressivism. Some of those commonly known leaders are Theodore Roosevelt, Robert La Follete, Lincoln Steffens, Willam Allen White, Woodrow Wilson, John Johnson, and Hooke Smith of Georgia. Another group of people who were making a movement was populism. Populism were a group of people who were economically secured, well educated, middle class group who arose from farmer distress in a period of acute depression. â€Å" According to William Allen White, populism had ‘shaved its whiskers, washed its shirt, put on a derby, and moved up into the middle class†¦ populism arose from a farmer distress in a period of acute depression. Its reforms were belly reforms. The movement was led by angry men and woman not too far removed from the Grange hall. The motivation of these farmers was heart. They believed its not fair to take farm land and stick a bunch of windmills on there, not only was it not fair but it also made the agriculture business lose money. In a specific case California lost money for putting up windmills in farmer land and turning the production of agriculture into a nominal size. This idea of motivation of heart also relates to today because our motivation for supplying all of this aid comes from heart, because we believe it isn’t fair that one shouldn’t have medical care, or food etc. However there are just some gray areas to this plan that need to be filled and that is what in term ends up costing us millions. Another important point that Mowry discusses is the rise of industrial and commercial cities. The positive things about the rise of these cities are that it was, â€Å" a refuge from an ugly country side and hostile natural environment†, and it also provided a place of excitement and opportunities. In contrast to the positive things were the negative things. The negative things about the rise of industrial and commercial cities is that its, â€Å"Devils berg of crimes†, successful= financial workers and failures if they remained family workers. It also created an anti-urban feeling which romanticized pioneer past and agrarian background, involved western stories and virtues of the countryside. Miss. Glasgow believed, â€Å"Country was the world as God has planned it, the city as man had made it. † There was definitely some mixed feelings between the citizens about urban and a city lifestyle. Mowry described the income people had into three categories. The first category was the upper-class which we defined as, â€Å"people who had more money than was good for them†. The middle class were those who had just enough and the lower class were those who had much less than was morally good for them. In regards to these three categories each community made artificial arrangements by property, classical economic laws repeatedly described in the past as natural had become artificial and progressives had destroyed the popular sanction behind the laws of rent, prices and wages. In response to the actions of the progressives came the enforcement and rise of labor unions. Mowry viewed the labor unions as a menace not only to the employer but to the entire community, the small employer and many middle class professional unions gave the same results of industrial monopoly. The labor unions made a steady decrease in opportunities for the individual operating as an individual, thus putting an end to open society, and putting the burden of the industrial revolution upon the middle class. In an attempt to rebuttal the vicious attack of the labor union on progressives the progressives created a co operation of progressive and organized labor. This operation left only the progressives to lead. The captain of industry and labor boss was standard. Monopolistic closed shop was an abomination not to be tolerated with or without the government and progressives became a majority. The progressives were motivated by fear and confidence to exceed any other group. They believed that they were â€Å"The good men†, â€Å"The better element†, â€Å"The moral crowd† because of the fact that they believed in helping people. The progressives planned to increase the number of â€Å"large hearted men† to counteract the class organization of both capital and labor. The progressives believed that gaining more support from others would make them the majority and be favored, loved, and even looked up too. The progressives wanted to eliminate capitalism and labor unions. The progressives were strong for fighting back against the mass numbers of capitalists and labor unions, but fight they did and they did not back down. Although the intentions of progressives were morally correct it was not economically correct for the success and future of America. Our government and administrators today might believe that what they are doing is right for the people but they have to also consider what is right for our nation. The way Mowry described the mentality of progressives can be used to describe the mentality of some of our administrators today, â€Å"Reactionary and reform impulse, a desire to create heaven on earth, moral superiority is greater than our economy, and lastly individualism dynamism and leadership. † These are the characteristics of progressives today and of 1958. It is true that history repeats itself.

Girls And Crime Essays - Criminology, Childhood, Crime,

Girls and Crime What about girls? Stress, teenage mother hood, drug habits all those components needs survival skills. How do you keep those survival skills? Gangs, prostitution, abuse? To us juvenile delinquency is something that we look at it with disdain instead of taking the time to look into sociological issues, emotional issues and the reality that would give us a clearer view and still not make us feel or understand the conditions they live in, the pressures they go through or face everyday. For us to be able to make a non judgmental opinion is very difficult, perhaps many of us have been affected by the wrong doings of some delinquents actions such as a drive by shooting, being at the wrong place at the wrong time. The realization, what we call going through a day, everyday, is a day theyve survived. True there are other options to those girls, but realistically how many are able to go and get out as easy as those programs claim it is? The emotion I used to write this paper was compassion. I believe that beca use of that emotion I was able to bring a difference to the view of the female delinquent. State juvenile justice systems across the country are challenged by the question: What about girls? This question cannot be ignored because female involvement in the juvenile justice system continues on a steady course upward -- even as juvenile male involvement in delinquency declines. Between 1992 and 1996 the number of juvenile females arrested for Violent Crime Index offenses increased 25 percent, with no increase in arrests of male juveniles for the same offenses. Juvenile female arrests for Property Crime Index offenses increased 21 percent, while juvenile male arrests in this category decreased 4 percent. Law enforcement agencies made 723,000 arrests of juvenile females in 1996 (Snyder, 1997). Female involvement in the juvenile justice system, once seen as an anomaly, has evolved into a significant trend. State and local juvenile justice systems are increasingly called upon to address the needs of juvenile female offenders and at-risk girls. Recognizing that these needs require national attention, the Office of Juvenile Justice and Delinquency Prevention (OJJDP) has launched a multilevel approach. It includes reviewing how States are dealing with female juvenile offenders, developing an inventory of best practices, producing a prototype-training curriculum, a nd implementing a variety of program development activities. Which would contradict with Chesney-Lind and Sheldens (1992:97) point that despite increases over the past decade in both the number of female-headed household and more women in the workplace, female delinquency has either remained the same or declined. Then again it was not until women entered the criminology force, that gender issues began to be seriously addressed. What about girls? In its own way, there are often common challenges: ? A growing number of female offenders. ? Demand for comprehensive needs assessments that identify gaps in the provision of services for girls. ? The necessity of developing and implementing gender-specific services and programs designed to meet the unique needs of girls. ? Competition for scarce resources and a limited understanding of what works for girls. Another specific question is why is there an increase? Well maybe we should look at the reasons behind the actions, or maybe how they have rationalized their actions in order to be able to carry the crime. The video I have seen was a home tape of multiple shows or documentary on female crime. I was only able to come out from it with a fear, empathy, and even more confused then I first saw a video in the class and this is why. When watching the video in our classroom about the male delinquent, I saw pain in their eyes and some I saw I am getting my fifteen minute of fame look. The girls video in class and my friends was the need to survive look in almost all the girls faces. In the boys I saw it too but I found it very hardcore. I believe that if we were to break that fa?ade of authoritarian, need to prove a point to society, I believe we can make an immense difference. From most of the female offenders, my first realization was the neighborhood they lived in. The

little big man essays

little big man essays My heart soars like a hawk. Little Big Man was a man of many traits, of many backgrounds. At a young age his life as he knew it came a drastic halt when he and his family we attacked by Indians. He was drug from the tattered wagon by a human being and put on his horse. The Indian had taken Jack back to the others, and not long after, he fell into the tribe like he was one of the human beings. His Aunt had escaped during the night, leading jack to believe that she would return for help. Years passed and Jack grew with the human beings, becoming one of them to most extreme. He even painted his skin a darker color to match the rest of the tribe. Jack had grown strong for wandering into the tribe, and adapting their ways, however, he was always small for his size, and was constantly teased. His Grandfather had once told him the story of Big Man, and surely enough Jack became known as Little Big Man. He incorporated many of the teachings of a white man into his way of life as a human b eing. He would get into fistfights with other tribe members, and they would be stunned because they had never seen this type of fighting before. He learned to be part of the tribe, though discipline, and determination he rose up to be respected member of the group. Although hated by some of his peers, I think it might have been because some felt that he was part of the white mans cause. After saving one members life this did not even change, he knew he must repay Little Big Man, but never accepted him as one of them. Time flowed like the waters of the river, and Little Big Man grew older. The white man had come to attack, and the Indians were going to teach them a lesson. Little Big Man had joined them, but as they were out, a friend of his was shot and Little Big Man tried to help him. As this went on another white man attacked Little Big Man, and knocked him to the ground. He was captured a ...

I do not know Research Paper Example | Topics and Well Written Essays - 1000 words

I do not know - Research Paper Example What exactly is a financial crisis? This is an important question to ask at the outset of this paper if we are to understand our subject. Generally speaking, financial crises arise in a variety of situations in which some financial institutions or industries suddenly lose large amounts of their value. For example, in the past, many such situations were associated with banking panics, stock market crashes and financial bubbles. The result is that country loses its wealth. Jobs are lost and people and companies go bankrupt. These crisis are often unexpected and result in a great deal of wealth being wiped out. People suffer and it can take years for the economy to regain its balance (Williams, 23). All sectors of society find themselves set back and productivity and growth become very slow. In the most recent example, the subprime mortgage crisis was one of the first indicators of 2007 financial crisis. There is a clear line that can be drawn between the massive number of mortgage defaults and the consequent crisis. High default rates on subprime adjustable rate mortgages began to increase very rapidly in this period. The long term trend of rising housing prices and better loans encourage borrowers to believe they would be able repay their mortgages quicker. They thought they had a good deal and would be able to refinance if they had a problem. However, this was not the case. â€Å"The first clear sign that the US housing bubble was bursting, the mid-2007 crisis in the sub-prime mortgage market (stemming from the significant increase in defaults), transmitted losses to a whole set of securitized financial products such as mortgage-backed securities† ( Lin, 32). The truth is that the American dream of home ownership had gone into overdrive. People who were unable to afford to pay mortgage payments were given mortgages. People with bad credit or unstable employment were given