Marriage Is Particularly Among Poor, Poor And Poor Essay

Marriage is extremely common in many societies and is greatly looked as the only way to raise a family and have children. However, marriage is becoming extremely uncommon among the poor, especially poor women. Instead of getting married first and then having children, poor women tend to do the opposite; having children before marriage and then hoping to get married after the child is born. This line of thinking often doesn’t work and poor mothers and their children are stuck by themselves, using only one income to survive and still living in poverty. However, having marriage first and then having children can be a successful and significant way to help poor women and their children get out of poverty. First, it is important to understand why the poor do not get married in the first place. When Having Babies Beats Marriage, explains why the poor do not get married. The reasons being, poor people do value marriage like the upper class but they see it as unobtainable. As in the a rticle, When Marriage Disappears mentions that marriage is becoming unobtainable because it is only accessible to those with the material and cultural means to have it. Marriage now has perquisites like having high emotional and economic resources that many poor people feel like they do not have in order get married. Therefore, because they feel like they can’t make it being married with all these requirements, they simply do not get married. Men who are not steadily employed with a goodShow MoreRelatedEssay about The Human Right Violation that is Child Marriage1307 Words   |  6 Pages Marriage† a ceremony in which two people are married to each other†. To many people, marriage is much more than that, marriage is a happy ending, a way to be happy and stay with the person you love the most forever.Marriage mean a big wedding,beautiful wedding dresses, celebrate with your friends and families, a vow to love each other forever. Marriage is supposed to be the hap piest day in a girl’s life, but to many girls in Africa, marriage is a way to survive, a solution to poverty, a way toRead MoreThe Issue Of Child Marriage938 Words   |  4 PagesOne common practices among families with girls living in poverty is child marriages. It has been found that poverty is the main driver of child marriage and traps girls and their families in a cycle of poverty (Poverty Girls). The practice of child marriage is more common in families who are already in poverty and perpetuates the cycle. In recent years, child marriage has gained increasing prominence on international and national development agendas. The issue of child marriage has been heavily criticizedRead MoreEvaluating The Effectiveness Of Foreign Aid And The Millennium Development Goals978 Words   |  4 Pagesintersectionality (race, class and gender), particularly those in the global south where human rights issues are quite prevalent. Intersectionality is a theory that will be used to desc ribe social injustice by examining the root of poverty. This can then be linked to how foreign aid affects these individuals of race, class and gender. Poverty is an indicator of low social class and can affect women negatively. For example, the issue of child marriages in Bangladesh can also be linked to the waysRead MoreInterpersonal Theory Of Suicide And Suicide1275 Words   |  6 Pagesin suicidal behaviour. This theory allows for a deeper understanding into the psyche of a person who has suicidal thoughts. Although there are many renowned factors associated with suicidal behaviour perhaps the most recognized having a history of poor mental health. Across all age groups, genders and in a wide range of geographical locations, several diagnoses of mental illness, including affective disorders, schizophrenia, personality disorders and childhood disorders, and a history of psychiatricRead MoreMarriage, Employment And Health Case Study1085 Words   |  5 PagesAffordable Care Act and Other Health-related Policies Marriage, Employment and Health Policies outside the domain of health care, factor into the health outcomes of Black SMW. As previously mentioned, cultural shifts and political advocacy has led to significant advancement in the treatment of sexual minorities in the U.S. Public demands for an end to policies that stigmatize sexual minorities, led to the repeal of DADT and the passing of marriage equality by the U.S. Supreme Court during the ObamaRead MorePresident Obamas 2013 State of the Union Address860 Words   |  3 Pagesnature and the presidents new sense of a public mandate. Raising the Minimum Wage: Among the progressive initiatives offered by the president, he calls for a raising of the minimum wage, noting that the inflated cost of living in the United States has far outstripped the earnings of many Americans. The president argued that a first and absolutely critical step for improving the lives of the working poor is the establishment of a new minimum wage closer to commensurate with the demands for basicRead MoreChildhood Depression And Its Effects On Women845 Words   |  4 Pagesmore prone to depression and suicide because of hormonal changes, but also social stigma and pressures, as well as events that are exclusive to women (Bose, 2015). Events such as childbirth and expectations in marriage provide many possible opportunities to develop depression. With marriage, comes domestic violence, a common precursor to depression. According to the Indian Journal of Psychiatry (Bohra, Srivastava, Bhatia, 2015), domestic violence affects a fourth to half of women in India duringR ead MoreThe Color Purple By Alice Walker1540 Words   |  7 Pagesonly address the issue of racial discrimination in the early twentieth century, but also the existing cruelty among the members of some African American families. The movie shows the trials and tribulations that Southern black women faced and their victory in conquering abuse, oppression and sexism. The film s plot centers around the childhood and adulthood of Celie, an uneducated poor black woman living in the South treated as a slave and being abused by her father since she was a child. At theRead More A Modest Proposal by Jonathan Swift Essay1480 Words   |  6 Pagesis everything that a satirical story should be. It includes sarcasm and irony as Jonathan Swift takes us through a roller coaster ride to show us how the poor are treated miserably. The narrator begins by leading us down a path. He seems sincere and thinks it is a pity how everywhere you walk in the streets of Dublin you see the poor begging people for hand outs. He is seeking a solution to help the commonwealth. He appears to be a logical, educated person who makes it clear that Read MoreEffects Of Divorce On Children s Socio Economic Success Essay1704 Words   |  7 Pagesunit is respected while â€Å"one† units are stigmatized. In the past decade, an extensive literature has been developed in relation to the interplay between family structure, family change and child outcomes. In the developed world, marriage is no longer a priority particularly to the younger generation. There is a dimension of literature that claims that children raised by lone parents generally perform relatively poorer than those brought up in two-parent set ups (Jeffrey 102-103). Divorce should be

The Voting Rights Act Of 1965 - 1575 Words

The Supreme Court of the United States has produced many infamous cases in its existence as a part of the three branches of government. It has seen many cases pertaining in particular to the Voting Rights Act initially enacted in 1965. There are two sections of the Voting Rights Act of 1965 that are of particular concern in most cases, sections 4 and 5. Section 5 of the Voting Rights Act requires certain states, districts, and localities to obtain federal preclearance before making any changes or alterations to their election laws or practices (Overby). Section 4 specifies a formula for determining whether a geographical area is subject to section 5 (Overby). When the Voting Rights Act was enacted in 1965 it was originally restricted to five years. However, since then there have been multiple extensions. Congress extended it for the first time in 1970 for another five years, followed by another extension in 1975 for seven more years, and for another twenty-five years in 1982 (The Oye z Project). When the twenty-five year reauthorization came to expire in 2006, Congress yet again extended the 1965 Voting Rights Act for another twenty-five years (The Oyez Project). Since its passing and continuous reauthorizations, there have been many attempts to declare the Voting Rights Act, specifically sections 4 and 5 unconstitutional. A distinct case that warrants a closer look is the case of Shelby County v. Holder. Shelby County v. Holder reached the Supreme Court in 2013 and is theShow MoreRelatedVoting Rights Act of 1965766 Words   |  4 Pagesresearch topic is the Voting Rights Act of 1965, and I chose this topic because I always found it amusing that it took so long for African Americans to legally be allowed to vote. I also thought this topic was appropriate since we now have an African American president, and the African Americans citizens need to know that voting I important because we didn’t always have that right. II. Statement of research question, hypothesis Topic: Voting Rights Act of 1965 Issue: ImportanceRead MoreThe Voting Rights Act Of 19652148 Words   |  9 PagesVoting has been a fundamental right, and has changed over the past one hundred years to allow not only women but minorities to vote. However, in Texas there have been arguments about the revision of Section five of the Voting Rights Act of 1965. Not only has Texas politicians accepted the new Voting Rights act, but the legislation itself has also been accused of redistricting parts of the state to aid voter turn out to the party in power. With the ever growing minority population, legislative actionRead MoreThe Voting Rights Act Of 19652010 Words   |  9 PagesThe Constitution gave each state the right to determine its own voting laws (May 50). This privilege has been amended to ensure that minorities, and other groups who would be otherwise left out of the voting process, are not prevented from voting in federal and state elections. The most prominent piece of legislation ensuring equal tr eatment of all citizens at the voting booth is the Voting Rights Act of 1965. Amended many times since its initial adoption, the Act is generally considered the most successfulRead MoreThe Voting Rights Act Of 19651288 Words   |  6 Pagesoccurred during the year 1965; these changes positively impacted the minority community. During this year, Congress passed the Voting Rights Act and the Immigration and Nationality Act Amendments. The Voting Rights Act of 1965 helped enforce the 15th Amendment and prohibited racial discrimination in voting. The Immigration and Nationality Act of 1965 abolished quotas based on nationality and allowed Americans to sponsor relatives from their countries of origin. The Voting Rights Act and the ImmigrationRead MoreThe Voting Rights Act Of 1965947 Words   |  4 PagesThe Supreme Court rulings led to a number of acts which helped the civil rights movement attain its goals. The first example is the Voting Rights Act of 1965. On January 23rd, 1964, th e 24th amendment stopped the poll tax, which initially had been introduced in eleven southern states after reconstruction to make it difficult for poor blacks to vote. On August 10th, 1965, Congress passed the Voting Rights Act, making it easier for Southern blacks to register to vote. Anything that could limit theRead MoreThe Voting Rights Act Of 1965925 Words   |  4 Pagesdisenfranchisement. As it stands right now most states have restrictions on felons and voting. Florida, for example, requires you to wait 5 years before a convicted felon can apply for clemency to vote (ProCon.org). Out of all the states, there are only 2 states that have no restrictions, and allow convicted felons to vote absentee ballots from within prison (ProCon.org). Compared to other modern societies, the United States â€Å"features the harshest restrictions on offender voting rights† (Sigler). ConvictedRead MoreThe Voting Rights Act Of 1965862 Words   |  4 Pagesdecided to gut the Voting Rig hts Act of 1965 in Shelby County v. Holder by deciding Section 4(b) of the Voting Rights Act is unconstitutional. The Voting Rights Act was meant to prevent historically discriminatory states from passing discriminatory voting laws. The purpose was to end racial discrimination in voting. Section 4(b) lays out the formula for which these states are selected. Basically, if the state had a history of restricting votes through tests or other means, their voting laws would be subjectRead MoreThe Voting Rights Act Of 19651549 Words   |  7 Pagespolitical participation was one fundamental instrument that was subsequently integrated into the American social dynamics. The enactment of the Voting Rights Act of 1965 sought to empower the minority groups to participate in the electoral processes, and to eliminate the barriers that existed in the political landscape. Some of the achievements of the act included the elimination of legislations that promoted profiling of prospective voters. For example, the law eliminated the need for literacy testRead MoreThe Voting Rights Act Of 19651456 Words   |  6 Pagesdiscriminated against their voting rights. They have not only been unrepresented in the number of candidates running for positions but also the number of voters who are registered and participate in elections. After the Voting Rights Act of 1965, it was prohibited for voters to be racially discriminated against. But since then, many revisions have been added, tightening the rules for registering and participating in voting. Many of these rules prevent minorities from voting but aren’t considered raciallyRead MoreThe Voting Rights Act of 1965 Essays1217 Words   |  5 Pagesbe caused by pieces of paper. The Voting Rights Act of 1965 was a law passed that primarily gave African Americans the right to vote without having to take any sort of literacy tests. African Americans were widely ignored in voting rights because they were forced to take literacy tests to be eligible to vote. Having this event in our nation’s civil rights movement was a landmark that allowed the other half of our nation’s voice to be heard. â€Å"The Voting Rights Act itself has been called the single

Reasons for Pursuing a Masters Degree in Special Education

Reasons for pursuing a Masters degree in Special Education Effective special education teachers are supposed to be good humored and organized. They should be people capable of accepting their students the way they are, even tempered, confident, intuitive and thick-skinned, optimistic, and dedicated to their students. The teachers should also be creative with their teaching methods (Webster, 2012). The coming into force of President Bush No Child Left behind Act in 2001 made it a requisite for schools and teachers to be accountable for how well their students were learning. Students progress in reading, math, science, and other academic content could now be measured through standardized testing. Test scores have been broken down to show how specific racial and socio-economic groups are performing with a view to preventing schools from teaching to middle class white children and leaving behind children from other ethnicities (Boe Cook, 2006). Bushs NCLBA with regard to special education advocates for early intervention and learning in the early years. Children not currently enrolled in special education but will likely need it in the future are accorded funds through NCLB to develop early intervention services. No Child Left behind Act requires that special education teachers be qualified and highly trained to be able to meet the standards they set as there are no waivers in cases of emergency or provision to allow for personnel who are not licensed or qualifiedShow MoreRelatedEssay about Dietetic Intern Position at Mount Mary College805 Words   |  4 PagesI am writing to apply for a dietetic intern position at the Mount Mary College. After researching the entire dietetic internship (DI) programs on the Internet, I became very interested in pursuing a position in your dietetic internship. I am confident that it will provide me with a wide variety of practical hands-on experience and the valuable didactic training I n eed to be successful for my career goals. If given the opportunity, I am highly motivated to successfully complete the internship programRead MoreCurrent Freshman At California State University939 Words   |  4 Pagesgreatest mother anybody can ask for; she brings unity and structure to the family and is a great cook. My mother is the reason why I work hard every single day, she my motivation to be successful in life. She would always tell me, â€Å"Shoot for the moon. Even if you miss, you’ll land among the stars.†, and my interpretation of it was to pursue ambitious goals in life and for some reason, if I fail to achieve them, I might still accomplish other great thing in the process. I have taken this quote and appliedRead MoreTakinga Look at Social Workers989 Words   |  4 Pageswould be helping others. Everyone in this world is born for a reason and sometimes we are not able to discover what specifically brought us here. I was born to help others in those o f difficult times of needs. I was born to learn from others and inspire human beings to do better for themselves. One of my favorite quotes is by Danny Thomas, the founder of St. Jude Children’s Research Hospital. He once said â€Å"All of us are born for a reason, but all of us don’t discover why. Success has nothing to doRead MoreAmericas : The Victim Advocates1131 Words   |  5 Pagesor escape. Along with these responsibilities there are many other requirements to become an advocate of this magnitude. Most professional victim advocates have an associate’s degree, a bachelor’s or a master’s degree in psychology, criminal justice, social work, or education and some organizations require a master’s degree of some type. Unlike other careers, coursework is frequently coupled with intense practical training in social work. This is done because Victim Advocates must hone their listeningRead MoreOrganizational Resources Paper1491 Words   |  6 PagesSoutheast is facing a budget cut in excess of 4 million dollars. With that said, Southeast Online is completely self-funded. Students who take an online class are charged an online course fee. Additionally, students who are enrolled in an online degree program, pay an online tuition rate. Southeast Online is funded through a portion of these fees. While budget cuts are substantial overall, their direct im pact on Southeast Online has been related to challenges with adding additional staff due toRead MoreI Am Born With Multiple Birth Defects, Including A Cleft Palate1670 Words   |  7 Pagesneed several surgeries throughout my childhood. This experience introduced me to the medical field early on and started my passion for pursuing a career in the discipline. I came to University of South Florida as a pre-nursing student in the hopes of making in to the nursing program. I plan to apply to nursing school this spring and hope to continue my education to become a Certified Registered Nurse Anesthetist, Pediatric Registered Nurse, or a Family Nurse Practitioner. Certified Registered NurseRead MoreMarine Science Undergraduate And Graduate Programs1415 Words   |  6 Pageson June 7, 2012. After this tremendous occasion the program made its way through the approval process. It was read and approved by the Advisory Committee on Academic Programs, Committee on Academic Affairs Licensing and the Commission on Higher Education (South Carolina CHE). The entire process took around two and a half years from the time it was just an idea to being fully approved (Dr. Roberts). Adding a new program to Coastal was time consuming but the addition will bring many advantages. UsRead MoreMy Statement of Purpose for a Masters Course in Management of Information Systems938 Words   |  4 PagesStatement of Purpose Introduction The remarkable success of Kalpana Chawla is an inspiration to all Indian women, with special meaning to those involved in the study of math and science. Kalpanas untimely passing as part of the Challenger crew is a paradox for the world to understand, yet for her, a woman of remarkable intellect and clarity of vision, she passed doing what she loved: exploring, pushing the boundaries of space and furthering scientific discoveries. She is an inspiration andRead MoreReflection Of A Narrative Reflection1031 Words   |  5 Pagesspace. The graduation ceremony had a unique condition because the invited speaker was Juan’s former principal and mentor. This person was the individual who first approached Juan to think about pursuing a doctoral degree. Juan’s mentor was a Haitian-American who himself had received a doctorate in education. Juan shared with me that Dr. Johnson would engage him in conversation about race and social identity. Dr. Johnson would engage Juan in conversations about how Juan’s social identity as LatinoRead MoreApplication For Admission At Kent State University1077 Words   |  5 PagesAfter earning my Master’s Degree in English and Comparative Literature from Tours University in France, I worked for nine years as an English and English as a second language instructor in higher and secondary education institutions in France, the Middle East and in the state of Ohio. Now I have decided to take my professional career to another level by undertaking a doctoral program tha t will prepare and capacitate me to teach English language and literature in higher education institutions.

MBS Market in the US

Question: Discuss about the MBS market in the US? Answer: Introduction In the contemporary capital market, there is various investment option are available that are being engineered by the financial manager. Capital market gives the investors the opportunities to invest in several investment avenues like equity, debt, futures, forwards bonds etc. Since 20008, most of the investors worldwide have lost faith in the equity market because of its high volatility in the products (Chiquier et al. 2004). There are several marketed securities available for the investor one of them is fixed income. Fixed income securities is very much different from the equity form of investment because the borrower of which ha o pay the fixed payments on fixed rate on fixed period of time. The study will focuses on the market based securities and the fixed payment securities in US (Clemmitt, 2007). Apart from that study will also focus on the secondary research on the MBS via various capital market sites like Bloomberg. Literature review on Market based securities in US Since, 2008 financial turmoil, there has been several number of development has been made like reformed regulations, modifying the market structure of US and introducing the technological improvement in the capital market. There are several mortgage based securities are available in the US market. Mortgage backed securities are very much based on the loan. Initially, the banks or company uses the home loan then the bank sells the same loan to an investment banks or an agency like Freddie Mac or Fannie Mae (Fabozzi and Mann, 2005). The MBS is very much sold by the government agencies in US very much attract the investors because of the money back guarantee from the Federal Government. Thus, the investors rely on these back securities because the investors know that they are going to receive the hefty amount from money back by the Fannie Mae and Freddie Mac MBS. Here the agency issues MBS and guarantees to pay the principle along with the interest to the holders of the MBS (Goodman, 20 08). Types of mortgage based securities With the help of types of Mortgage based securities helps the company to get in depth learning of the structure of US MBS market: Figure 1: Types of the US MBS market structure (Source: Green, 2013, pp-23) MBS market is very much complex and one of the most difficult structure of model was mortgage basic called pass through certifications. Here the mortgage holder gets the actual shares of its investment from principal amount to the interests amount. As noted by Furfine (2010), on the other hand, major or advance products are called derivate products. Derivate products are being sold in the secondary market on the basis of underlying value of the total asset. These are also known as the tranches which only is traded between 1-3 years of payments (Lea et al. 2004). Some of the investor sin US are very much willing to take the risk worth of 5-7 years of non payments and are looking for higher interest paid reward. The products can be of higher risk because the borrower may fail or not pay the interest amount (Nguyen, 2011). Mortgage based securities are being are initially introduced by the US in order to bring revolution in housing baking and mortgage business. This has helped the common man to buy homes (Stone and Zissu, 2005). In year 2000-2005, real estate is one of the booming industry most of the banks and mortgage companies has made the loan with no done payments has made the people to afford mortgages which really couldnt afford. This has tended the seller of loans that, they can sell the loans irrespective of the default in payments which leads to the housing bubble in US market (Tuckman, 2002). Fixed and variable rates of MBS are determined As noted by Manola and Urosevic (2010), Fixed rates and variables rates of MBS is been determined with the help of various factors. Fixed rate are been determined majorly on the bonds yielding of the bonds. The reason because most of the mortgages are been handled at once by anyone as in return the customer customers receive the mortgage money. Bank usually lends the money to the customers and sells back the mortgage to other investors with smaller returns. Figure 2: Fixed and variable MBS (Source: Antinolfi and Brunetti, 2010, pp-242) On the contrary, Zhou (2010), variable rates of MBS are based on the prime rate which changes as per bank to bank. Some of the major factors which may impact the MBS rate are because of inflations, growth and balance of import and export along with Foreign exchange. Raising the prime rate decreases the inflation are and also the growth. Variable rate =Prime rate Spread -30 days LIBOR= Discount Agencies offer the MBS in US As discussed by LaCour-Little et al. (2011), in 2006 there was housing bubble burst that leads to subprime crisis in mortgage industry which finally created 2000 financial crisis because of the huge losses. Some of the major agencies who offer the MBS are given below: Ginnie Mae: Ginnie Mae was the first company that has introduced the MBS in 1968 by the US government national Associations. Ginnie Mae is one of the governmental organization that issued the MBS back by the credit of US government (Ambrose and Sanders, 2008). Ginnie Mae is ben guaranteed payment of the principal amount along with principal has been one of the pillar of the constructs irrespective of the default in mortgage payments by the borrower (Lugo, 2014). Fannie Mae: It another major company who issues the MBS and are very much has ethical responsibility of the US government to rate the credit value of the mortgage. The FNMA (Federal National Mortgage association) is very much work on the basis of the treasury regulation of the money market guarded the federal bank of America (Antinolfi and Brunetti, 2010). Freddie Mac: It is stockholder owned government sponsored corporation that has been formed in order to enhance the mortgage credit and give quick liquidity. It is owned by the federal home loan Mortgage associations and has line of credit with the government of America (Cantor and Hu, 2009). Both of the Fannie Mae and Freddie Mac are being offering the high returns MBS in compare to the Ginnei Mac. Ginnie has lower credit quality in compare to the Both Fannie Mae and Freddie Mac. Discussion on the Market Based Securities (MBS) Mortgage backed securities are very much similar to the fixed income trading. As per the report of Bloomberg , mortgage backed securities went wrong because of lack of transparency in the approach and complex structure leads to the 2000 financial subprime crisis in housing bubble burst (Mooradian and Pichler, 2014). The mortgage backed securities was initially authorized in 1968 as per the charter act. This carter act has been formed by the Fannie Mae. This has helped the banking sector to sell the loans and mortgages in order to create liquidity and give loan to others. Fannie Mae did not know that this ethical way of funding the people dream will lead to creates poor lending practices (Zhou, 2010). Most of the banks in US like JP Morgan Chase and Lehman brother are understood that they wouldnt have to pay the loan amount. Performance of the USD MBS Bonds As per the Bloomberg USD MBS Bond index are given below as per the 2014 report: USD bond Index Market percentage % Return on maturity 2.36% Return to worst 2.39% OAS spread 21.96% Average Life 5.22 Number of issues 473 Base currency USD As per the description of Bloomberg USD bond index shows that market value of the yield to maturity is 2.36% as per the Ginnie Mae , Fannie Mae and Freddie Mae combined ratings. These ratings of the US bond market very much shows that, US MBS is very weaker in performance after the 2008 financial crisis. There are numerous occasions where the number of average life of the MBS is around 5.22 years. Therefore there is no 1-3 year of the MBS currently in the USD market as per the Bloomberg report. Bloomberg indexes are very much gives the sum total of the world indexing performance as per the shares globally. Bloomberg indexes helps to meet the borrower and the investor needs of the MBS along with other financial products. The indexes of Bloomberg gives the investors world class data that helps them to compare and contrast the performance of the world-class MBS offered in US and other nations. Mortgage back securities performance in compare top world during 2008 crisis is given below: Looses faced by the companies during 2008 in terms of MBS Amount $, Bn Lehman brothers -18.1 Merrill Lynch -8.6 Barclays -2.3 Wachovia bank -8.4 JP Morgan chase -1.3 Bank of America -4.4 Citi Group -9.83 Graph 1: Looses faced by the companies during 2008 in terms of MBS (Source: www.bloomberg.com, 2015) During 2008, crisis as per the Bloomberg report, Merrill Lynch reportedly has been confirmed the net loss worth of more than $ 8.6 billion that broke the stock market down. Then there is collapse of the one of the strongest housing mortgage company Lehman brothers who have collapsed due to increase in the default in payments and price of real estate is being lowering done which lead to global catastrophe (Zhou, 2010). As per the bloom index USD MBS is been going through rough phase that point of time. During that period of time, MBS has been able to garnered controversy which tends to lend the subprime crisis. MBS is been one of the part of the subprime lending that start rooting the housing bubble bursts. Since then the government of treasury has changed the US MBS bond norms and brought more transparency and more of clear concept rather the complex structure which turns into the nightmare for the US and rest of the world (Lugo, 2014). Effective yield of US Bloomberg Index bond Name Values Change Effective yield US treasury Bond index 121.60% -0.91 1.58% US agency Bond Index 116.8% -0.44 1.45% US corporate Bond index 137.50% -1.10 3.11% US MBS bond Index 123.47% -0.45 2.36% Fund rate 0.9 Prime rate 3.25 Graph 2: Effective yield of US Bloomberg Index bond (Source: www.bloomberg.com, 2015) As per the graph shown the above graph, Bloomberg has shown that comparative analysis of the bonds and MBS which is quite blooming again. Among the bonds corporate bonds has high yielding which is currently running 52 weeks but the company is not been able to gain the large market share for federal reserves rates shows one of the major difference in the bonds and the MBS index. The yielded ration of MBS has been improved since 2008 that has now become 2.36% (Lugo, 2014). The Bloomberg report also shows that, most of the bonds which are being offered by the Corporate like JP Morgan chase and Morgan Stanley are some of the major bonds that have been growing compare to the other bonds. However, there is huge risk in the compare bonds ion compare to the MBS bonds which are much safer as the guarantor are the US government and agencies like Ginni Mae and Freddie Mac (Stone and Zissu, 2005). The Bloomberg report also shows that, MBS rate is still improving because of the backing and supporting of the bond by ensuring the money back guarantee by the US treasury. This has been one of the major reason for strengthen the MBS in recent times. US municipal bonds are being one of the major financial bonds that have been improving and US government is backing up strongly in order to gain the large market (Goodman, 2008). One of the most important part of the Bloomberg Indexes are being one of the global ratings of the bonds which is fair and are against the any of the influence. The data given in Bloomberg are very real and in reference to change in price, data and technology is known are helpful for the investors and private equity firm in their decision making where or not to invest in MBS. Mortgagee back securities is been one of the strong pillar of the financial avenues in US market because of its less volatility in nature (Clemmitt, 2007). The report of the MBS is basically calculated by the Bloomberg is based on the market place, fixed income security and sources of revenue of the MBS. Some of the major benefits of the MBS are given below: High Credit Quality: One of the benefit of the MBS is being it is very high quality debt as it has been credited by the government own agencies like Ginni Mac and Freddie Mac. It is been own and control by the US government who are responsible for payment of the principle and interest of investors (Ambrose and Sanders, 2008). Federal agency gives his nodding which is why it becomes one of the high credit qualities. Major MBS are AAA based bonds in compare to agency or corporate bonds. Attractive ROI: MBS is very much low risky affairs in compare to the equity or the other forms of bonds. It also gives the lucrative earnings because it is very much backed by the US government and are paid on the monthly basis. It is different from the other bond where the lump sum amount is being paid in compare to other bonds. Apart from that, this also gives the company opportunities to invest more than 2 years which leads the MBS to reach and attract the large audience (Antinolfi and Brunetti, 2010). Monthly based income: Finally, one of the major attractions of MBS is because of the monthly based payment which is why most of the investors prefer the MBS in compare to fixed income trading. The monthly income helps the investors to clear their entire expenses and becomes of the sources of incomes. However ,some of the major risk which prevails within MBS as per the Bloomberg are as the credit standard was low in 2000 leads the lenders to high risky loans instead of higher quality loans that remove their liability (Ambrose and Sanders, 2008). Besides that, there is risk in mortgage pass through because of the involvement in credit risk, liquidity risk, interest rate risk and other risk. The credit risk here shows that, uncertainty in the payments by the borrower how long they will continue to pay off. Mortgage backed securities can be frustrate the investors because of low interest rates. If the interest rates are being high then homeowners are going to hold the mortgages of the life (Lea et al. 2004). It gives the lower returns in compare to share or other derivates products. Besides that, Ginnie Mae sells minimum $25000 of the shares. However, Freddie Mac and the Fennie Mac MBS are being sold within minimum $1000. Lastly, the information from the Bloomberg shows that MBS is f ully taxable unlike government bonds which is not taxable (LaCour-Little et al. 2011). Conclusion: From the above study, it has been found that, MBS is been one of the major investment areas that has been offered by the US governmental agencies. Some of the major agencies who are into the business of selling of the MBS are Freddie Mac, Ginni Mae and Fannie Mae. The rate of variable and fixed MBS is different because of the external economic factors like Inflations, GDP and import and export and Foreign exchange. Apart from that, MBS is very different from the Fixed income trading because of fixed income trading is being paid off at once lump sum and the MBS is paid on a monthly basis. The above discussion has also concluded that, MBS is been one of the reason for housing bubble buret in US as because of the poor mortgage backed securities. Reference List Books Chiquier, L., Hassler, O. and Lea, M. (2004). Mortgage securities in emerging markets. Washington, D.C.: World Bank, Financial Sector Operations and Policy Dept. Clemmitt, M. (2007). Mortgage crisis. Washington, D.C.: CQ Press. Fabozzi, F. and Mann, S. (2005). Securities finance. Hoboken, N.J.: John Wiley Sons. Goodman, L. (2008). Subprime mortgage credit derivatives. Hoboken, N.J.: John Wiley Sons. Green, R. (2013). Introduction to Mortgages Mortgage Backed Securities. Burlington: Elsevier Science. Lea, M., Chiquier, L. and Hassler, O. (2004). Mortgage securities in emerging markets. [Washington, D.C.]: [World Bank]. Nguyen, T. (2011). Fraud and the Subprime Mortgage Crisis. El Paso: LFB Scholarly Pub. LLC. Stone, C. and Zissu, A. (2005). The securitization markets handbook. Princeton, NJ: Bloomberg Press. Tuckman, B. (2002). Fixed income securities. Hoboken, N.J.: Wiley. Journals Ambrose, B. and Sanders, A. (2008). Commercial Mortgage-backed Securities: Prepayment and Default. SSRN Journal. Antinolfi, G. and Brunetti, C. (2010). Economic Volatility and Financial Markets: The Case of Mortgage-Backed Securities. SSRN Journal. Cantor, R. and Hu, J. (2009). Deal Sponsor and Credit Risk of Asset-Backed and Mortgage-Backed Securities. SSRN Journal. Furfine, C. (2010). Deal Complexity, Loan Performance, and the Pricing of Commercial Mortgage Backed Securities. SSRN Journal. LaCour-Little, M., Park, Y. and Green, R. (2011). Parameter Stability and the Valuation of Mortgages and Mortgage-Backed Securities. Real Estate Economics, 40(1), pp.23-63. Lugo, S. (2014). Discretionary Ratings and the Pricing of Subprime Mortgage-Backed Securities. SSRN Journal. Manola, A. and Urosevic, B. (2010). Option-based valuation of mortgage-backed securities. Ekon. an., 55(186), pp.42-66. Mooradian, R. and Pichler, P. (2014). The Design of Mortgage-Backed Securities and Servicer Contracts. SSRN Journal. Mooradian, R. and Pichler, P. (n.d.). The Design of Mortgage-Backed Securities and Servicer Contracts. SSRN Journal. Zhou, T. (2010). Indifference valuation of mortgage-backed securities in the presence of prepayment risk. Mathematical Finance, 20(3), pp.479-507. Websites Fund, V. (2015). VMBIX Quote - Vanguard Mortgage-Backed Securities Index Fund. [online] Bloomberg. Available at: https://www.bloomberg.com/quote/VMBIX:US [Accessed 7 Mar. 2015]. Fund, V. (2015). VMBSX Chart - Vanguard Mortgage-Backed Securities Index Fund. [online] Bloomberg. Available at: https://www.bloomberg.com/quote/VMBSX:US/chart [Accessed 7 Mar. 2015]. Index, B. (2015). BMBS Quote - Bloomberg USD MBS Bond Index. [online] Bloomberg. Available at: https://www.bloomberg.com/quote/BMBS:IND [Accessed 7 Mar. 2015].

Pre and Post Reconstruction Period free essay sample

Some issues raised were: a) How would the former states of the Confederacy be integrated back into the Union? B) What type of labor arrangements would replace slavery in the South? C) Would southern politicians who had joined the Confederacy be excluded from politics, or an even more important question, would they even be welcomed back to Congress and state legislatures in the spirit of reconciliation? D) How would the South, which had suffered the greatest damage in the war, be rebuilt so that it could prosper economically? ) How would civil rights be defined for the four million slaves who became free during the war? ) What roles would African Americans be able to play or be welcomed in the political, social and economic environment of the post-war period? G) What additional measures would be taken to ensure that African Americans were treated fairly and justly? While there were no decisive answers to any of these questions, each drew a range of responses from different sectors of American society known as The Reconstruction and is widely viewed as a crucial time in American history. History shows that American politics, society and economics underwent major transformations during Reconstruction and ACH of them was met with main opposition; thus, both radical and conventional strains dominated the era. For instance, President Abraham Lincoln signing the Emancipation Proclamation (see figure 1) (Library of Congress, The Sturbridge Lit. Co. , Cincinnati. Abraham Lincoln and his Emancipation Proclamation, CLC 888). Was viewed as one of the most radical and revolutionary acts in American history as it officially freed slaves.Additionally, President Lincoln comprehensive agenda/administration was in favor of reconciling the nation as quickly as possible and enacted many statutes, policies and laws toward those efforts. Backed by some of the new policies, statutes and laws, African Americans in the South began to vote in election hold elected offices, gain education advancement, rebuild their families and were also given opportunities to reshape their communities.African American efforts were further supported by social welfare reforms passed by the new southern state governments; many of these reforms resulted in making government responsible for some basic needs and outlawing certain exploitative practices. On the other hand, the basic economic system of the South, with wealthy whites holding power over blacks ND traditional whites, remained largely unchanged; in many cases, this power/authority relationship even intensified.Although, amendments to the Constitution clearly stipulated civil rights rules and policies for blacks, the federal government remained uncommitted to enforcing them. President Lincoln also advocated the 10 Percent Plan, which allowed southern state governments to reassumes control after just one-tenth of the 1860 voting population swore an oath of allegiance to the United States. Upon succeeding President Lincoln in 1865, President Andrew Johnson adopted similarly conservative policies.President Johnson quickly exercised his presidential powers by pardoning rebel leaders, allowed many of them to return back into high office, returned plantation land to its original owners and ordered former slaves back to work. On the other hand, the southern elite struggled to re gain political and economic power and had challenges with reinstating the Souths old class system by putting blacks back to work on plantations. Many northern politicians and industrialists supported President Johnnys endeavors. While President Johnnys policies ensured that most of the southern land confiscated during the war was turned to its former owners, many northern entrepreneurs quickly bought up other large landholding in the South. In the hope of reviving southern economies, federal bureaucrats helped to provide the necessary labor force; in areas occupied by the Union army, soldiers limited the mobility of blacks, forcing them to return to plantation work. The Freedmans Bureau also joined these efforts by negotiating labor contracts.Some of the new policies and the allowance of the elite to return back into politics enabled the enactment of a series of Black Codes designed to strip blacks of their citizenship rights. Furthermore, the so-called Black Codes, issued by southern governments in the rapid Reconstruction period, legally bound blacks to plantations under conditions much like slavery (Fran Kline 48-50). Therefore, a new era emerged called the Radical Reconstruction. Under Radical Reconstruc tion, a new cadre of Southern Republicans intent on reform emerged. These leaders enacted sweeping legislation to create a system of public education, a democratic state and local governments and make state governments more responsible for the social welfare of their populations. The Southern Republicans also enacted an ambitious project of industrialization in an effort to integrate the region into the national economy. These measures represented a substantial departure from the system of the old South; yet few reforming politicians were not able to go as far and to have as much effect as they intended.In addition, white Southern Republicans, who outnumbered their black colleagues, gave only window dressing like support to black civil rights, preferring to court Southern Democrats through moderation on racial issues (Former 364-41 1 Although, the Radical Reconstruction efforts were intended to redirect the southern economy, to provide for social mobility and to halt the return to the old plantation system. Ultimately, however, these policies intensi fied the Souths dependence on cotton as a cash crop and solidified the class divisions in southern society.Condemning Andrew Johnson and early presidential Reconstruction, Radical Republicans hoped to reshape the South into a land of industry and diversified agriculture. To these ends, Republicans poured massive amounts of money into the South to build railways, create infrastructure and develop improved cultivation methods. Ironically, these improvements bolstered the strength of the plantation system and swelled the ranks of the economically exploited lower classes. Railways allowed for the extension of cotton plantations into the upcountry and further west, onto lands occupied by subsistence farmers.Furthermore, new technology and the increasing efficiency of large-scale cultivation meant small farmers growing cotton for the market could not compete with plantation production. Falling deeply into debt, small farmers, both white and black, increasingly became wage laborers or tenant farmers working for large landowners. The industrialization of the South also brought large amounts of money into the hands of state politicians, which created many opportunities for corruption in state government.Ultimately, the outcry over this corruption and the ability of Southern Democrats to associate corruption with Southern Republicans undermined reform efforts. By the late sass, as the UK Klux Klan and other react ionary groups proliferated throughout the South, it was becoming clear that many changes Of the Reconstruction period would not endure (Treeless 49-92). Under the administration of President Ulysses S. Grant, who was elected resident in the election of 1 868, support for Reconstruction began to diminish as the United States turned toward the problems of westward expansion and industrialization.In 1 875, the Whiskey Ring Scandal publicized widespread corruption in government and led to moral outrage. More and more, the idea of reforming the South in the face of violent resistance by the southern elite seemed a distraction from more pressing problems. Consequently, when President Rutherford B. Hayes assumed the presidency in 1 877, he withdrew confederate troops from the South, thereby formally ending Reconstruction. Across the South, leaders rejoiced and African Americans, meanwhile, were left to fend for themselves in the face of a resurgent movement for white supremacy led by members of the UK Klux Klan. Similarly, poor whites remained on the lower end of a rigid economic hierarchy. It was only in subsequent decades-?as blacks built on the gains made during the Reconstruction years, as the Supreme Court revisited Reconstruction-era constitutional amendments and as the southern economy expanded with the help of Reconstruction-era industrialization that Americans began to see Reconstruction as an important period that laid the roundworm for subsequent change. Northern politicians still remained united in their desire to reconcile the country peacefully, but disagreed on the means.Industrialists hoped to rationalize the southern economy, while reformers wanted southern state governments to develop mechanisms for providing social welfare to their citizens. African Americans saw the end of the war and the granting of freedom as an opportunity to claim equal rights as American citizens, and they searched for allies among politicians and reformers. Most white southerners were in favor of a return the Pre-Reconstruction policies and opposed any federal intervention, movements toward reform or extension of civil rights for blacks.Many Of the social, economic and political reforms enacted in the South after the Civil War were repealed or rolled back following the end of the Reconstruction era. The southern elite returned to power, African Americans remained within exploitative economic relationships and blacks and poor whites again found themselves not allowed to be engaged. Reconstructions focus on the rationalization of cotton production through the development and standardization of new techniques o make that industry more efficient and profitable, the spread of wage labor, and industrialization formed the basis for the Souths post-Reconstruction economy.Furthermore, many of the changes initiated during Reconstruction set important social precedents that would be revisited in ensuing years. For instance, African Americans drew upon lessons learned during Reconstruction to argue for increased civil rights in subsequent decades; similar lessons would be applied by those in the womens rights movement, which had also been active during the Reconstruction era. Further, the deader governments definition and view of citizenship rights would provide the foundation for the dram atic increase in federal power in the twentieth century.There were also some additional important economic changes that allowed for social mobility during Reconstruction. Especially in urban areas, blacks became professionals and businessmen, forming the nucleus of a small but emerging middle class. Similarly, in railway centers and port towns, expanding economies created new opportunities for white merchants and businessmen. In rural areas, blacks and whites increasingly found work as sharecroppers.While sharecropping was exploitative and turned out to be economically unsustainable, for a period it did produce considerable levels of autonomy, thus providing a temporary improvement over previous labor arrangements; especially for blacks. While it would have been difficult to argue at the beginning of the twentieth century that Reconstruction resulted in a radical transformation of American society, by the end of the century it was clear that the period had laid the groundwork for such change.Nevertheless, the gains made during the Reconstruction era slowly but surely transformed southern society. In the years ahead, industrialization, wage labor, literacy, political participation, state social welfare and the exercise of black civil rights, all of which were built upon preceden ts established during Reconstruction, became features of the New South. To conclude, the Reconstruction era in American history may not have seen a radical transformation of the South, but it did lay the groundwork for planned change.