How Long Does It Take to Get a Ph.D. in Psychology

How Long Does It Take to Get a Ph.D. in Psychology Student Resources Print How Long Does It Take to Get a Ph.D. in Psychology? By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Updated on September 27, 2019 Ariel Skelley/Getty Images   More in Student Resources APA Style and Writing Study Guides and Tips Careers Are you thinking of earning a Ph.D. or other doctoral degree in psychology? Before you begin your academic journey, it is a good idea to take a look at just how long it will take you to complete your degree. The amount of time it will take can depend upon a variety of factors including your chosen specialty area, the program you select, and the course load you are able to take each semester. A doctorate-level degree in psychology is required to work in many job areas, including as a licensed clinical psychologist or counseling psychologist. According to the American Psychological Association, a  doctorate degree is also often required in fields such as school psychology or health psychology. So how long does it take to get a Ph.D. in Psychology? First, it is important to realize that the degree requirements can vary depending upon the field that you decide to pursue. A Ph.D., or Doctor of Philosophy degree is not necessarily your only option. In some cases, you might want to also consider the Psy.D. (Doctor of Psychology) or the Ed.D. (Doctor of Education) degree options. Which Type of Degree Should You Get? How do these degree options differ? A Ph.D. in Psychology tends to focus on a research-based model of education. People with a Ph.D. in Psychology are qualified for a wide range of teaching, research and clinical positions in colleges, universities, hospitals, government offices, and private mental health practices. The Psy.D. degree option generally focuses on a practitioner-based model of education. Individuals with a Psy.D. degree can also teach or conduct psychology research, but they frequently work in applied settings to provide direct mental health services. Finally, there is also a third doctorate option that you might also want to consider depending on your career goals. If you are interested in working as a school psychologist or in a related educational field, the Ed.D., or Doctor of Education, is a possible option. How Long Will It Take to Get a Doctorate Degree? The length of time required to earn your degree depends on upon a variety of factors, including the type of degree you have selected, your educational background and the individual doctorate program in which you have enrolled. Generally, if you have a strong background in psychology and have completed all of the necessary prerequisites, you will be able to finish your doctorate sooner than students who have not taken the prerequisite courses. Be sure you have a clear idea of what you want to do with your psychology degree once youve completed it. Do you want to teach, or is research more appealing to you? Are you interested in seeing clients, or are you planning to combine your training in psychology with another field, such as law or medicine? An accredited university should be able to provide guidance on whatever your career goals in psychology are. Ph.D. in Psychology Most Ph.D. programs require at least 5 to 7 years to complete. In addition to regular coursework, you may also be expected to complete an internship or supervised residency. The program usually culminates in completing an original research project or dissertation. Psy.D. Degree Most Psy.D. programs require between 4 to 6 years to complete. According to the APA, programs conferring the Psy.D. degree focuses on  the application of psychological science, usually in the form of service.   EdD. Degree Most Ed.D. programs require between 3 to 5 years to complete. It is important to note that many applicants to Ed.D. programs already hold a masters degree in a related field, while applicants to Ph.D. and Psy.D. programs often begin their program of study with a bachelors degree. A Word From Verywell No matter which type of degree you decide to pursue, earning a doctorate degree in psychology requires a significant investment of time, money, and effort. Because of this, it is important to carefully consider your goals before deciding on a graduate program. You should also consider whether you need a doctorate or if masters might be more appropriate. Despite the years of work involved, earning your Ph.D., Psy.D., or Ed.D. can be well worth the effort. The U.S. Bureau of Labor Statistics suggests that workers with a doctoral or education specialist degree in clinical, counseling, and school psychology will find the strongest job opportunities.

Proper Nutrition Is Essential For The Long Term Health Of...

Proper nutrition is essential for the long-term health of children. A healthy diet helps protect against all forms of malnutrition that can lead to nutrient deficiencies, obesity, diabetes, and other chronic disease. (1a) Giving a child a supportive and adequate nutritional start has a positive impact on their not only their physical development but also their mental and social development (1). A study completed in 2013 investigated the intake of 5200 5th grade student and tested their academic abilities. This study found that students with a higher intake of vegetables and lower caloric intake of fat were significantly less likely to perform poorly on academic assessments. (11) In 2010, 20.2% of American households with children were†¦show more content†¦(6b) The prevalence of childhood obesity is high in America with approximately 16.9% of 2-19 year olds in the United States being obese during 2011-2012 (7). The percentage of obesity in America has been steadily increasing. From 1980-2008 the prevalence of obesity in the U.S. more than doubled among adults and more than tripled among children (6). Even though children are consuming adequate or excessive food calories, they are not meeting the federal Dietary Guidelines for Americans. (9a) Food insecurity and childhood obesity combined implicate future consequences for children. Overweight and obese children face long and short term complications: chronic inflammation, cardiovascular disease, type 2 diabetes, metabolic syndrome, mental health disorders, lower self-esteem, and underachievement in school and even increased mortality (10). National School Meal Feeding Programs Children who eat well, preform better in class and have a greater opportunity to succeed in school. The rise in childhood obesity has brought scrutiny to the types and amounts foods offered and eaten at school and how that is affecting a child’s overall diet intake. ((7A) Hastert, 2009) Children spend more waking

Alzheimers Disease Advanced Neuro-deteriorating Illness - Free Essay Example

Sample details Pages: 5 Words: 1439 Downloads: 5 Date added: 2019/04/04 Category Medicine Essay Level High school Tags: Alzheimer's Disease Essay Did you like this example? Introduction Alzheimers disease (AD) is an advanced neuro-deteriorating illness that is responsible for over two-thirds of all the instances of dementia. The most significant hazard aspect of Alzheimers disease is aging as well as a genotype known as APOE4. A report released in 2007 by the Alzheimers Association approximated that over 5 million citizens in U.S.A are presently diagnosed with this disease whereas unanimity research in Delphi predicted a worldwide dominance of AD would augment to an aggregate of more than 80 million cases by 2040. Don’t waste time! Our writers will create an original "Alzheimers Disease: Advanced Neuro-deteriorating Illness" essay for you Create order (Gold et al., 2008). Whilst this illness is regularly overwhelming to the affected individual as well as the family, the unusual occurrence of AD articulates that its a burden both financially as well as to the society. Undeniably, AD exemplified the third greatest expensive health disorder in the year 2000 in America and is of rising fiscal significance for health strategy organization in other commercial and evolving states. Maybe because of increasing proof concerning the seriousness of the condition, an increase of study attention in AD done in the previous decade, with 50% additional papers printed regarding the subject in 2007 than 1997. During this period, one chief part of the study of AD has been fixated on the mental deficiencies displayed by patients. Alzheimers disease and memory. (Which types of memory†such as episodic, procedural, etc.†are most affected by this disease? Alzheimers disease affects the various brain sections in different levels although it majorly affects the long-term memory which is comprised of the episodic as well as the semantic memory. The condition initially starts with the short-term memory, e.g. preserving recently learned short-term information. It then proceeds to the episodic memory where it affects an individuals recall of first-person events. Afterward, it goes to the semantic recollection where it affects an individuals recall of word definition and world facts. The disease finally affects the procedural memory whereby they are impaired concerning cognitive and practical abilities. (Mastin, 2010) With the progression of the condition, the brain sections that were initially integral become dysfunctional and finally, all cognitive, concentration, and language capabilities are disordered. Patients of AD have a habit of showing information loss of particular features of the semantic section of the brains. Earlier, they cann ot differentiate logical classifications like animal species although after a period, this absence of differentiation spreads to extensive more overall classifications. What is the progression of AD? AD progresses in stages are dependent on the type of region of memory that has been initially affected; the development continues until the patient has been influenced a significant portion of their brains. Early stage This terminology denotes to persons of every age that have an insignificant deficiency because of signs of Alzheimers disease. Regular symptoms comprise poor memory, communication hitches, and variations in attitude and conduct. Individuals in this phase maintain most of their handy abilities and call for nominal support. (Sperling et al. 2011) They might have an understanding of their altering aptitudes, and, thus, be able to notify other individuals of their know-how of existing with the illness and aid to design and supervise their prospective care. Middle stage This phrase conveys a more substantial degeneration in the individuals mental and practical aptitudes. Retention, as well as other intellectual capabilities, shall remain to deteriorate even though persons at this period might possess a bit of understanding of their disorder. Aid with various everyday responsibilities, for instance, shopping, homemaking, wearing, cleaning and going to the toilet will ultimately come to be essential. (Sperling et al. 2011) Employing aggregating requirement to offer care, everybody involved will require assistance and care. Late stage This stage of Alzheimers illness might likewise be titled severe or radical phase. Herein this phase, the individual finally converts to be incapable of verbal communication or taking care of their selves thus necessitating the need for full day care. The objective of this provision at this phase is to maintain the attention of the individual to guarantee the paramount value of life probable. What are current recommendations for how to maintain functioning prior to and after diagnosis?) Drug interventions Medically and inexpensive medications for Alzheimers disease are existing; the stress is to develop or preserve utility after neuronal impairment instead of changing the concealed pathogenesis resulting in the condition. Two categories of medicines are presently commended for Alzheimers illness: Galantamine, Acetylcholinesterase inhibitors donepezil, and N-methyl-D-aspartic acid receptor, Rivastigmine, and competitors such as Memantine. (George et al. 2003) Presently, Acetylcholinesterase inhibitors are the solitary suggested alternatives to cope with minor to moderate Alzheimers disease and there lacks substantiation that one is more effective than the other; although, a vast randomized measured experiment has freshly revealed that constant management with Donepezil is related with mental remunerations in modest to a severe AD. Memantine has been sanctioned for persons that have modest to severe Alzheimers disease; it has as well been utilized in minor Alzheimers illness however the proof is presently lacking notwithstanding its recurrent off-label usage. Non-medication methods The ground of proof is continually rising for interventions that dont involve drugs in the management of Alzheimers illness even though additional study in various fields are still required. In a vast methodical assessment appraising medication as well as non-drug intercessions in care for AD, mental stimulation treatment was established to be as medically and expense efficient as the inhibitors; recollection treatment is likewise endorsed in state guidelines. (George et al. 2003) Conversely, the proving grounds for pioneering service delivery for example situation managing, whereby a case supervisor, commonly a nurse or community employee represents the chief care manager amongst crucial patrons, comprising main and ancillary maintenance, is variegated. While the substantiation grounds for cost efficiency of this method is minimal, particularly advanced aided technology to assist individuals with AD is accessible and may be significant in releasing caregiver nervousness and supporti ng persons with AD to continue to be home-based. Patients need to be informed of their condition. In conducting the disease analysis, people require to put the patient himself into consideration. In overall discourse, patients that are in the initial phases are necessary to be aware of nature as well as the projection of their conditions after the prediction is determined by the doctor. Doctors should not permit their distress or the imprudent demand from family members to undermine their morality in patient interaction and rapport. Besides, it is crucial to make sure that the patient is able to understand at the maximum level. (George et al. 2003). Revelation might as well help in encouraging the patient to consent assistance and in handling social requirements. It also facilitates the patients driving to be sorted out. Per the advancement of innovative drug cures, revelation permits patients to permission to partake in medical experiments. Presently many studies are dependent on the family member to provide delegated permissions; this has been argued to be lawfully improper. Hence, situations exist in which it might be misguided to inform a patient that they have the illness in the initial visits. For instance, in the case that the patient lacks a support structure, it is probable that the revelation might weaken their resolve to live. In similar circumstances, it might be crucial to help the patient to create assistance connections and pertinent facilities and consequently, understandingly reveal the analysis. Discoursing the future A significant field to be debated in the previous phases of Alzheimers illness when the patients still possess mental capability is to grant their desires for prospective provision as well as the individuals delegated to formulate decisions when the patients conditions will have been adverse. In AD, these considerations labeled advance maintenance organization have demonstrated to decrease unsuitable hospital admittances nearing death although the grounds of proof have not been adequate. (George et al. 2003) Debates regarding advance maintenance organization need openness and understanding because experts and doctors are experienced to conduct these discussions after creating rapport with the patient. Subsequently, patients can officially record their requirements in numerous ways, counting the accomplishment of an advance instruction, or living will. In conclusion, Alzheimers illness is a disease that has increased continuously in its prevalence over the years. It is a dementia disorder that has majorly affected the aged individuals. It is prudent to be able to provide adequate support and care to these patients as well as understand their conditions. This will hold them to better deal with their condition as well as be able to put across their needs and requirements before their demise. Also, patients should be made aware of their conditions before it advances. This will be able to give them a better insight into managing their condition. Additional research is required regarding the disease to make their treatment and management more efficient.

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

Poor infrastructure Essay Example

Poor infrastructure Essay Mozambique is still relatively poor as a country in economic terms, although it is rich in others such as copious fishing waters that are underused in the global markets due to poor infrastructure. Mozambique was lead by the Portuguese government who were ill equipped to compete adequately on an international and global level. When globalisation took off in other African states, Mozambique was left behind, and never had an industrial revolution. This meant that although there was plenty of opportunity to further develop the country and equip it with the ability to trade on global levels, other capitalist states and markets were far more advanced, with a good infrastructure that opened them up to the markets. The people of Mozambique were poorly educated, many of them illiterate, and because of this they were exploited by other nations. Many of the countries inhabitants are rough peasants and this exploitation led to a fascist dictatorship. They did not have the opportunities like other countries such as Ghana under the leadership of Nkrumah. Places like this could colonise as the leaders had skewed their colonies and economies and bequeathed more education to its inhabitants. Mozambique was never going to be able to match the massive trading powers of France and Britain, as Portugal had never prepared it to do so. Portugal had exploited it but not developed it. The idea behind neocolonisation was to allow maintenance of economic control but allowing it no input. There were no representatives around the table to help with the management of decolonisation. We will write a custom essay sample on Poor infrastructure specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Poor infrastructure specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Poor infrastructure specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The only way that Portugal could decolonise Mozambique was through a bloody battle, often in a very vicious manner. The advancing system of France meant also meant that their military were stretched to the limits in trying to protect its country, but stood no chance and were often abandoned, as happened in the civil war. Prior to all this all decisions about the country had gone through the president in Paris, who operated in a Masonic way. Post-modern ideas of independence for Mozambique were hindered by the failure of the Westminster model of government, due to incompatibilities and ill equipped governments. There were often visible aspects of leaders becoming economy holders of the empire of entrepreneurship. Mozambiques problems were confounded and exacerbated by the civil aid programmes that supposedly came to help them. The growth centred approach to poverty only compounded this further. Targeted intervention was of no use as the poverty was so widespread. The average wage was well below the poverty line and there was an even harder exertion for the women to secure rewards that were commensurate with their contributions to the independence struggle. They were often given the opportunity to go to the markets with their produce but were then taxed heavily, and losing out on any sort of profit they may have made, basically a form of legalised extortion. Problems with landmines meant that the land was very dangerous to work on, with a high risk of injury or death. These also helped to slow down economic redevelopment. Many of us will remember the campaigns that were led by Princess Diana showing the terrible injuries that people had suffered through landmines detonating as they worked. There was a plea for international aid to be brought in to clear away the landmines and to give the people a fair chance to improve themselves and their towns. By implementing harsh and complicated economic pressures on its people, this is difficult enough in a wealthy modern state, the picture is even worse when we talk about African countries. The problems with a rapidly collapsing infrastructure, or as in the case of Mozambique, a non existent infrastructure, alongside its entrenched parastatal sector hostile to any change, which may threaten its interests, the problems not only escalate but become utterly formidable. In addition to this, the private sector becomes a strange amalgamation of disparate unrelated components. It consists of large multinationals, medium local sized organisations usually run by Asians, and a huge informal sector that largely comprises of peasant farmers. This means that the private sector is unbalanced and isolated to some extent. Considering all these points it is clear that there should be no rush for the imposition of multi party democracies and an unfettered market economy, even if it was possible to do so for Mozambique. Surely any change should be done gradually, with long term strategies that work alongside and slowly change the present systems. To sum up, arguments for structural adjustment policies of the International Monetary Fund, and lately on an increasing level in the World Bank, only focus on the microeconomic structures, and not the macroeconomic structures of all African countries including Mozambique. One must recognise the role played by recession in the West, due to declining terms of trade for primary products and the oil crisises. Those who believe in structural adjustment believe that the majority of african states share a common state corporatism that is economically corrosive and unproductive. Originally the motivation behind these programmes was to liberalise trade, reduce the role of government and parastate industries in the economy, and to end various subsidies to various sections of the population. It was believed that this would end the balance of payment crises and therefore promote economic growth. By the early 1990s it had been shown that this was not actually the case and that policy based lending had not acheived the intended goals. A new policy was now required to correct this, and the International Monetary Fund now decided that they needed to create a series of rational law based societies throughout sub-Saharan africa. This policy would need to make it clear that investment decisions were to be made on economic grounds, rather than on politically motivated grounds. This plainly put any emphasis of blame, due to previous policy failure, about the economic crisis in Mozambique and esoecially in Mozambique, was laregely a creation of the individual african states themselves. This removed any liability and responsibility on the west, protecting its own interests again. If there is no benefit to themselves there is a reluctance to become involved in the countries problems. The retention of these types of attitudes mean that Mozambiques problems are unlikely to see any significant change in the near future. There will be change but only very slowly as discussed earlier. In my beleif I think the Mozambique people have always been given a rough deal, and cannot see that it will change quickly, as the people who hold the power and capability to enforce change are fearful that they may lose some independance, i. e. the middle class bourguoise. The fear of a lack of control for those in the city, means that the poorer members of society are repressed continually, and because they do not have the capability or knowledge to do something about it, it is unlikely that it will change. I agree that the support given through international aid is necessary, but it should be helping the peasant farmers and the poorer members of society, not just the big boys in the city. This only extenuates the gap between the haves and have nots. Bibliography Tordoff W. Government and politics in Africa. (3rd ed) 1997. Macmillan press. London Clapham. C. Third World politics: an introduction. 1985. Croom Helm. London Chabal. P. Political Domination in Africa. Reflections on the limits of power. 1986. Canbridge University Press. London Cammack P. Capitalism and democracy in the Third . World. 1997. Leicester University Press. Leicester.. McLean. I. Concise dictionary of politics. 1996. Oxford University Press. Oxford. Webliography  https://www.gov.uk/government/organisations/home-office

Shylock From the Merchant of Venice Character Analysis

Shylock From the Merchant of Venice Character Analysis A  Shylock character analysis can tell us a lot about The Merchant of Venice. Shylock, the Jewish moneylender is the villain of the play and the audience response  depends on how he is portrayed in performance. An actor will hopefully be able to extract sympathy for Shylock from the audience, despite his vengeful bloodthirsty and greedy proclivities. Shylock  the Jew His position as a Jew is made much of in the play and in Shakespeare’s Britain some might argue, that this would have positioned him as a baddy, however, the Christian characters in the play are also open to criticism and as such Shakespeare is not necessarily judging him for his religious belief but demonstrating intolerance in both religions. Shylock refuses to eat with the Christians: Yes, to smell pork, to eat of the habitation which your prophet the Nazerite conjured the devil into! I will buy with you, sell with you, talk to you, walk with you, and so following, but I will not eat with you, drink with you, nor pray with you. He also questions the Christians for their treatment of others: ...what these Christians are, Whose own hard dealings teaches them to suspect the thoughts of others! Could Shakespeare be commenting here on the way Christians converted the world to their religion or on the way that they treat other religions? Having said this, there are a lot of insults leveled at Shylock merely based on his being a Jew, many suggesting that he is akin to the devil: A modern audience may find these lines insulting. A modern audience would surely consider his religion to be of no consequence in terms of his status as a villain, he could be considered a reprehensible character who also happens to be a Jewish man. Must Jessica convert to Christianity in order to be accepted by Lorenzo and his friends? This is the implication. That the Christian characters are considered the goodies in this narrative and the Jewish character the baddy of the piece, suggests some judgment against being Jewish. However, Shylock is permitted to give as good as he gets against Christianity and is able to level similar insults as he receives. Shylock  the Victim To an extent, we feel sorry for Shylock’s victimization based solely on his Jewishness. Apart from Jessica who converts to Christianity, he is the only Jewish character and it feels he is somewhat ganged up on by all of the other characters. Had he just have been ‘Shylock’ without the religion, almost certainly one could argue a modern audience would have less sympathy for him? As a result of this assumption, would Shakespeare’s audience have had less sympathy for him because of his status as a Jew? Shylock  the Villain? Shylock’s position as a villain per se is possible to debate. Shylock is sticking to his bond to his word. He is true to his own code of conduct. Antonio signed that bond and promised that money, Shylock has been wronged; he has had his money stolen from him by his daughter and Lorenzo. However, Shylock is offered three times his money back and he still demands his pound of flesh; this moves him into the realms of villainy. It depends on his portrayal as to how much an audience has sympathy for his position and character as to how much he is judged at the end of the play. He is certainly left at the end of the play with very little to his name, although at least he is able to keep his property until his death. I think it would be difficult not to feel some sympathy for Shylock as all the characters celebrate at the end while he is all alone. It would be interesting to revisit Shylock in the years following and find out what he did next. â€Å"The devil can cite scripture for his purpose† (Act 1 Scene 3)â€Å"Certainly the Jew is the very devil incarnation;† (Act 2 Scene 2)

The 4 Different Types of Financial Aid Expert Guide

The 4 Different Types of Financial Aid Expert Guide SAT / ACT Prep Online Guides and Tips There are so many different types of financial aid out there, with some serving you better than others. This guide will demystify everything you need to know about the types of aid available to students. I’ll start with the various options available to you and include examples that you can check out for yourself. Then, I’ll tell you exactly where and how you can get your hands on this financial aid money. Finally, I’ll explain which types of aid you should take advantage of - and which types you should stay away from. Let's get started! What Are the Different Types of Financial Aid? Tackling financial aid can be overwhelming, but you might be relieved to know that there are only a few different types of aid out there. Once you get the basic info on each category of aid, you’ll be much better informed when it comes to getting the most (and the best) funding. The main differentiating factors between each aid category are: How you get the money Why you get the money Whether you have to pay the money back Here are the main aid types you should know about before you start looking for funding for college: Grants Grants are monetary awards that are typically based on financial need. If you receive a grant, you don’t have to repay the money at any point. Example: Pell Grant Loans Loans are sums of money that you borrow and then pay back on a monthly basis after you graduate. In addition to the original amount that you borrow (the principle), you’ll also be responsible for paying back an extra percentage of the loan amount (interest). Examples: Direct loans (subsidized and unsubsidized), Stafford loan, Perkins loan, Private loan Scholarships Scholarships are monetary awards similar to grants - you don’t have to pay them back at any point. Unlike grants, however; they’re often based on factors other than financial need, although need may be taken into account. Ultimately, scholarship eligibility can be based on almost anything depending on the goals of the person or entity that’s funding the scholarship. To give you some examples, here are some student characteristics that many scholarship programs tend to look for in their applicants: Strong academic records Volunteer experience Particular ethnic background Artistic skill Sports prowess Entrepreneurial interests Political ambitions Career goals Some combination of the above Examples: Gates Millennium, McDonald’s, Coca-Cola, Tylenol, Florida Bright Futures, Hispanic Scholarship Fund, Minority scholarships Work-Study A work-study award is a type of need-based â€Å"self-help† financial aid in the form of a wage subsidy. Ultimately, it’s meant to help students get jobs (especially on campus) because the subsidy makes the students less expensive for certain employers to hire. Some student jobs only hire people who have work-study awards. The work-study award pays for part of your hourly salary, and your employer pays the rest. You only â€Å"get† the money if you get a student job, and you don’t get any extra funding on top of your salary. The average work-study award is about $1,500, but the annual maximum tops out at $7,000. Check out our guide to the federal work study program to learn more. A student job might not be the most exciting way to get financial aid, but it can come with some perks. What Are the Most Important Sources of Financial Aid? Although there are only a few types of aid, funding for school can come from a bunch of different sources. The way you go about getting aid depends, of course, on where the money’s coming from. The main sources of student aid in the US are the federal government, state governments, the schools themselves, private organizations, and banks. Here, I’ll break down how you’d go about getting aid funding from each of these sources. Federal Financial Aid Types of aid given:Grants, loans, and work-study Aid eligibilitycriteria:There are quite a few eligibility criteria when it comes to accessing federal student aid. Although they may seem complicated, most of them aren’t hard to meet - the big things are that you have to have a high school diploma or GED, and you have to be accepted to a degree or certificate program. To make sure you meet all the necessary eligibility criteria, read our comprehensive guide to getting federal financial aid. How to apply:You apply for federal aid with theFree Application for Federal Student Aid, or FAFSA. You only have to submit this one application in order to be considered for any and all forms of federal aid. You can even estimate your aid eligibility before you submit your FAFSA if you’re interested in knowing beforehand how much (and what types) of aid you’re likely to be awarded by using the FAFSA4caster. Examples: Pell Grant, federal loans State Financial Aid Different states have their own protocols, budgets, and eligibility criteria when it comes to state-based financial aid. Some states may use the FAFSA whereas others may have their own processes for determining aid eligibility (like Florida). You'll have to do your own research on your state of residency. Read moreabout state financial aid optionshere. Aid From Your School Types of aid given: Primarily grants and scholarships, sometimes loans Aid eligibility criteria:Some schools offer only need-based financial aid in the form of grants. If you get into the school, then you’re automatically eligible for need-based aid as determined by the school’s financial aid policies. The most generousfinancial aid policies are often based solely on need. Some schools offer need-based and merit-based financial aid. Eligibility criteria for merit-based scholarships might depend on your GPA, standardized test scores, or sports performance. How to apply:Many schools use the FAFSA to determine eligibility for need-based financial aid. Schools automatically get your FAFSA info if you list them on your application. Your college applications will also often serve as an automatic scholarship application - the admissions or financial aid office will offer scholarships to particularly competitive students in order to persuade them to attend that school. Some school-based scholarships have separate applications, however. I’d encourage you to check out theschool’s financial aid website (or contact theirfinancial aid officer) if you have questions about additional scholarship opportunities that might be available. Aid FromPrivate Organizations or Nonprofits Types of aid given: Primarily scholarships and grants Aid eligibility criteria:Eligibility criteria varies widely based on the type of student that each scholarship or grant program is targeting. The most common criteria centers around US citizenship and academic performance, but check out the scholarships listed earlierfor more examples. How to apply:There are some umbrella organizations where one application will allow you to beconsidered for multiple scholarships (e.g. the Hispanic Scholarship Fund). Most of the time, though, you have to submit a separate application for each scholarship program that you’re interested in. Often there’s overlap in what information scholarship applications ask for, so you may be able to recycle parts of your applications (like essays, for example). Examples:Check out our lists of top scholarships for high school juniors and seniors Aid From Banks and Financial Institutions Types of aid given:This is where you go if you need access to private loans Aid eligibility criteria:This will vary based on which institution you go to and how much money you’re looking to take out. Basically, you'll have to show that you’re responsible and reliable so that banks trust that you’ll pay themoney back. You can do this with a good credit history. The problem is that most young people don’t really have a credit history, which means that most students who want to take out private loans need someone else (usually a parent) with good credit to cosign on the loan. How to apply:You’d have to work directly with a bank to apply forthe student loans you hope to take out. It involves submitting personal and financial information to the financial institution. For more information, check out our step-by-step guide to getting a student loan. What Are the Best Types of Financial Aid? What Are the Worst? Although all of the above forms of financial aid can help you pay for school, not all of them come with the same perks and benefits. There are some types of aid that’ll serve you better in the long run. I’ve organized categories of aid into tiers, with Tier 1 being the most desirable and Tier 3 being the least desirable. You should pursue aid in this order - seek out Tier 1 aid first before filling any gaps with Tier 2 and 3. Think of your financial aid options like tiers on a really delicious cake: you shouldn't start cutting just anywhere! Tier 1: Grants and Scholarships Grants and scholarships are the most desirable forms of financial aid because they come in the form of free money, often with no strings attached. Some grants and scholarships are applied right to your bill - you often see this with federal and school-based aid. When this happens you don't actually see the money - you just see a lower (or even non-existent) bill. Other grants and scholarships are given directly to you. This means you have more freedom with how the money's spent, but it also means you haveto be responsible with money management. Ultimately, it's best to apply grant and scholarship money to academic bills first before using funds to pay for other things. Tier 2: Federal Loans and Federal Work Study Tier 2 offers some solid options for students and families who still need to cover costs after looking into grants and scholarships. These options don’t come in the form of â€Å"free† money, but that doesn’t mean they don’t come with some benefits. Federal Loans You have to pay federal loansback, so they’re obviously not as desirable as grants or scholarships. That being said, federal loans can come with perks that you won’t find with any other borrowing options. Many federal loan options come with competitive interest rates, lengthygrace periods, options for forgiveness or cancellation, and flexible repayment plans. If you have to borrow money, borrow federal loans first before turning to any private lenders. Work Study With a work study award, you don’t have to borrow any money at all. You do, however, have to get a job in order to see any cash. The good news is that the money you earn is yours to spend or save as you see fit. Check out our guide to the federal work study program to learn more. Tier 3: Private Loans You should only look into private loans if you can’t cover your expenses after getting as much Tier 1 and Tier 2 money as possible. You can borrow responsibly with private loans, but borrowing terms tend to be less favorable than what you’d see with federal loans. First, it'spretty much necessary to have a cosigner on a private loan if you don’t have a credit history - this means that someone else is on the hook for your debt if you're unable to pay back what you borrow. They don't comewithoptions for loan cancellation or forgiveness. Finally,private loans tend to have higher interest rates than federal loans because they're not subsidized. The bottom line: you ending up paying more in the long run with private loans than with other forms of financial aid. Final Thoughts: Paying for College Responsibly The average sticker price for a college education is pretty high these days - too high for the typical student to take on by herself. As a result, most US college students relies heavily on financial aid to help fund their education. Sometimes, it’s a bit too easy to take out large amounts of student loans (especially private loans) to cover high college expenses. Although this investment can pay off in the long run for some students, student loans can turn into a frustrating burden for many others. It’s important to take a long-term perspective when considering student loan options. For example, you may want to ask yourselfthe following: How much do you anticipate making after graduation, given your career goals? How much would your total monthly payment (principle + interest) be for all your loans after you graduate? Could you afford to make this monthly payment after covering all anticipated living expenses? Before you take on large student loans, talk to potential cosigners, parents, and guardians. Finally, it would be wise to get the perspective of a trusted college counselor orfinancial advisor before committing to paying back large sums of money. People with this type of experience may be able to point you in the rightdirection when it comes to paying for your education. "Paying for college responsibly" is code for "not taking out more loans than you can handle." What's Next? Now that you've covered the basics, you can start thinking strategically about how to budget for a college education. You might want to begin by learning about how, when, and why to save for college. After that, you should check out our complete guide to covering your college expenses. Knowing how to apply for financial aid is an important part of covering college expenses, of course. Maybe you have more complicated challenges ahead of you. If so, you might want to read more about how to pay for college without parents' help andhow to pay for college without loans. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now: