Bosh the Rightful Free Essays

Goals of Education

Ani Antonyan Goals of Education has been assuming a fairly significant job in the advancement of humankind since the beginning of mankind. It has sat back periods and, therefore, through various modes. Indeed, even rulers and sovereigns of dull occasions connected extraordinary significance to instruction as in it they saw the fate of their countries. We likewise ought to acknowledge what an extraordinary job it plays in our lives and later on for our countries.In actuality training is basic for each person to build up its character and discover its place in the general public, in the interim, as we probably am aware, every general public and country, comprises of people , in this way it is huge for progress of nations also. Taught individuals are increasingly sure and regularly comprehend what they need from this life. Training assists with framing character and create character. It shapes basic reasoning , and expository capacities which are considerable for every individual who ne eds to accomplish statures .The more you study, the more you have to examine , subsequently an interminable procedure of learning begins. While you study your cerebrum is working. What's more, this is the promise of remaining youthful and enthusiastic. After all let’s not overlook that it gives us exceptional capability to secure positions and gain our living. Instructed individuals are required in every circle of life and its absolutely impossible out without them, since they can show proficient treatment.It is a general information that the entire comprises of parts. A similar way the general public comprises of people, who live, work and impart inside the extents of that society . Along these lines the many taught individuals structure the bit of society the more it is inclined to progress. That’s why such a significant number of governors are worried to have taught age who will commendably value the legacy they have and add to it advancements so as to leave it for next, ideally progressively instructed generation.Thus , the fundamental objectives of training are helping individuals to be increasingly proficient and fearless and keep the cerebrum in sound condition . Having gotten commendable instruction you can fundamentally be helpful to your nation and such individuals as you. Additionally, being taught you have more prospects to get a decent line of work and to give a beneficial living to yourself and your family. At long last let’s remember that it is intriguing to speak with an individual who’s instructed. Along these lines, it is difficult to overlook the importance of training.

How to Calculate the Cost of Your Cash Advance

How to Calculate the Cost of Your Cash Advance How to Calculate the Cost of Your Cash Advance How to Calculate the Cost of Your Cash AdvanceThere are many great ways to use a credit card, but taking out a cash advance is NOT  one of them!Using a credit card can  be a very smart decision if you do so responsibly.  In fact, there are actually many  benefits to sensible credit card utilization: you can use them to up  a bad credit score,  earn cash back and signup bonus rewards, and even finance  major purchases without interest during introductory periods.However, credit cards can be a double-edged sword.  One side  has  the ability to pull you out of a bad credit slump and improve your financial life, and the other can tank your credit score, and put you in a cycle of debt that could take years to get out of. It all depends on how you use it!According to the Federal Reserve of New York, total U.S. credit card debt rose by $26 billion in 2017s fourth quarter and is currently sitting at a whopping $834 billion. Thats a lot of debt on a lot of credit cards!And OH BOY are there  q uite a few ways to use a credit card poorly, as many Americans know all too well.  While we  all know that racking up a balance you cant pay off and maxing out your cards is bad for your financial health, one of the  most expensive  things you can do with a credit cardâ€"taking  out a cash advanceâ€"isnt usually the first thing that comes to mind when you think of irresponsible credit card habits.But the reality is, credit card cash advances  can cost you some serious coin.What is a cash advance?A cash advance can  mean  several different things.First, there are cash advance loans, which are essentially payday loans by another name. These short-term, high-interest, no credit check loans are offered by many predatory lenders looking to make a buck off your back.In order to get one, youll typically write a check to  the lenderâ€"dated on your next paydayâ€"for the amount of your loan plus interest, and in exchange, the lender will give you the cash you need.On your next payday, the le nder will cash your check, and if you dont have enough money in the bank to let that check go through, youll be stuck in a rollover cycle of debt, paying insanely high interest rates on whats typically a relatively small amount of money.Second, there are employer cash advances. Not all employers offer them, but if yours does, you can request to receive a portion of your paycheck early. These kinds of cash advances typically dont carry any interest, as youre only getting money thats yours a few weeks before you normally would.In contrast, credit card cash advances are a whole different beast  and a pricey one at that.  While not quite as expensive as taking out a cash advance loan, credit card cash advances come with often hidden fees and interest.Essentially, when you take out a credit card cash advance, youre using your credit card in the same way you would a debit card. You can go to an ATM or bank, and use your credit card to withdraw cash.The difference between using a debit car d to get cash and using a credit card to get cash? When you use a debit card, the money youre taking out is already yours.  But when you use a credit card to get a cash advance, that money isnt coming from your bank account.Every single  time you use a credit card, you are taking out a small loan from your credit card company. If you pay back those loans in full every month, you can usually avoid paying interest on them.But you cant avoid paying interest on a cash advance.How much does a cash advance cost?Not every credit card company allows cash advances, and for those that do, the rates can vary wildly. According to the New York Times, the average  APR for a cash advance  hovers at  around 24 percent,  nearly 10 points higher than the average rate for a regular credit card purchase, which is around 16 percent.Additionally, while most credit cards offer a grace period in which you can pay off your balance without paying any interest on it, there is no grace period on a credit card cash advance. Interest will begin incurring the moment you take out the cash and will continue to build until you pay it back in full.On top of all this, theres often a flat fee associated with credit card cash advances â€" typically  around  3 percent of the total amount you take out. That means if you take out a $1,000 cash advance, youll be paying an additional $30 in fees, on top of the interest that immediately starts accruing.Lets go further with that hypothetical $1,000 cash advance. Lets say the APR for cash advances on your card is 24 percent, and the flat fee is 3 percent. If it takes you a month to pay back your cash advance, youll be paying a total of $1,050 when all is said and done. Youre paying $50 for the privilege of having cash on hand, a high price to pay, no matter how  convenient it is.If youd just made that $1,000 purchase on your credit card and paid it back within the grace period,  that $50 would still be in your pocket, waiting to be put into savings, or sp ent on a nice dinner out.How do I calculate the total cost of my cash advance?Want to calculate how much a cash advance would cost you? Your first step is going to be pulling out your credit card contract, and locating the interest and fees your lender charges for a cash advance. Once you find that information,  plug it into this equation:Your monthly interest owed  = ((the amount youre borrowing x  (APR/100))/365) + the flat feeIn the case of the $1,000 cash advance with the 24 percent APR, it would look like this:$1,000 x  .24 = $240, or the total amount of interest youd pay on this if it took you a year to pay it back.240/365 = $0.65, or the total amount of interest youre paying on this cash advance every day you dont pay it back.So, if you took a week to pay back this $1,000 cash advance, it would cost you $4.60 in interest ($0.657), and $30 for the flat fee. In total, youd be paying $1,034.60 on that $1,000 cash advance.Is there ever a good time to take out a credit card cash a dvance?In short, no. If you need cashâ€"ike, actual paper cashâ€"right now, there are typically a few other options you should explore before heading over to the nearest ATM with your credit card in tow.Instead, consider using a digital payment app like Cash App, Venmo, or Paypal to send people money instead of paying them in cash. In this new modern world, even farmers and flea market vendors  very often take digital payments.If you find yourself frequently needing paper bills, make sure to take out a portion of your paycheck in cash whenever you deposit it. That way you wont have to pay ATM or cash advance fees when you head out to your favorite cash-only tapas place.Even writing a check and taking it to a check-cashing store is a better option than taking out a credit card cash advance. Youll still have to pay a fee to get your cash, but you wont be charged any interest.If you find yourself in an emergency situation where a cash advance is your only option,  just remember to do t he math first. Calculate exactly how much this cash advance is going to cost you, and budget out ways to pay it back as quickly as possible.In general, you deserve better than a costly cash advance.To learn more about the dangers of predatory lending, check out these related posts and articles from OppLoans:Tax Refund Anticipation Loans Are More Dangerous Than You ThinkYour Guide to Cash Advance Scams5 Alarming Payday Loan StatisticsHow much does a cash advance cost on your credit card? Let us know!  You can  email us  or you can find us on  Facebook  and  Twitter.

How The Holocaust Happened - Free Essay Example

Sample details Pages: 11 Words: 3223 Downloads: 8 Date added: 2019/04/26 Category History Essay Level High school Tags: Holocaust Essay Did you like this example? History has many common themes; persecution, genocide and discrimination are just a few of them. The Holocaust is one event that intertwines these three themes. The Jewish people have been persecuted numerous times throughout history. Don’t waste time! Our writers will create an original "How The Holocaust Happened" essay for you Create order There have also been genocides that killed as many or more people as the Holocaust, such as; the depopulation of the USSR under Stalin between 1929-1939 that claimed approximately 20 million lives, or the killing of the North and South American Indians in the 16th century that claimed 100 million lives. Six million Jewish men, women and children died in the Holocaust. Anti semitism was not unique to 20th Century Germany. Throughout history in Egypt, in the Roman Empire, and all throughout Europe and the Middle East, the Jews were at the very least not wanted and at the most persecuted for being who they are. The Holocaust, if put in all these contexts, is not unique. However there is one circumstance that only the Holocaust had. As Steven T. Katz says in his book, The Holocaust in Historical Context, The Holocaust is phenomenologically unique by virtue of the fact that never before has a state set out, as a matter of intentional principle and actualized policy, to annihilate physical ly every man, women, and child belonging to a specific people. The Holocaust was the first time in history an organized government tried to completely exterminate a group of people. How could something like the Holocaust be allowed to happen? How could a young European country in the midst of a world war create an incredible killing machine? There are a number of unique and not so unique circumstances that led to the Holocaust. The Holocaust was a tipping point of anti semitic attitudes throughout Germany and Europe as a whole that was possible because of the rise to power of an autocratic leader in a country desperate for change. The Holocaust wasnt the first time the Jewish people had been persecuted. Just about everywhere they went throughout history, Jews were persecuted for being different. They were a monotheistic people in a world where polytheism was the norm. They engaged in strange customs and traditions that confused outsiders. The Jews also refer to themselves as The Chosen People so it can be assumed that other groups took offense to a group of people blatantly saying that they are better than others. Some of the earliest recorded persecution of the Jews occurred in ancient Egypt, where they were slaves until the Exodus. When they lived under Alexander the Greats rule, they were discouraged from practicing their religion because it made them different from the other populations Alexander conquered. This went against Alexanders dream of uniformity for his kingdom. When Jesus of Nazareth died, it was a common myth that it was the will of a Jewish committee. This myth persists in many to this day, de spite the fact that the Catholic Church officially disavowed that belief in 1965. Eventually, when Christianity became the official religion of Rome in 323 AD, Jews living in the Roman empire were persecuted and ridiculed for following their dated religion. Over time the Jewish people spread throughout Europe. They moved to places such as Spain, France, Germany, Poland, Russia, Hungary, and others. However, in many of their new homes, they were not entirely welcome. It was not uncommon for Jewish people to be ran out of towns in France and Germany, although some towns were more welcoming than others. People would accuse them of killing the messiah and question their practicing of certain customs. Places where they did receive some solace, however, was Poland and Russia. The local leaders there saw that the Jewish populations, despite their beliefs and customs, built shops, traded, and helped the villages and towns economically. They remained all over Europe, however there were high er concentrations of Jews in Eastern Europe. Throughout the years, peoples dislike for Jews was limited to blaming them for the death of Jesus of Nazareth, disagreements in their customs and beliefs, and the perception that they always had more money than non-Jews. This began to change in the mid 1800s when a German linguist coined the term Semite. This term in and of itself was just a term for people of a language background that contained more languages than just those of Romantic and Germanic origin. However, the linguist also attributed the qualities of exclusivity and egoism to semites. This same linguist also attributed the qualities of tolerance and altruism to speakers of Indo-European languages. Although the the definition of semite does not specify Jewish people, it was widely understood that if one used the term, they were referring to Jews. Around the same time, Charles Darwin and and Herbert Spencer were publishing their ideas and research about survival of the most adaptable and survival of the strongest, respect ively. Herbert Spencers ideas of survival of the strongest would become the basis for Social Darwinism. Social Darwinism was the idea that groups of people, whether it be racial groups or otherwise, would undergo the same processes of natural selection as other living things. The beliefs that semites were inferior to Indo-Europeans and Social Darwinism together provided the basis for anti-Jewish racism in Germany and Europe as a whole Many post-enlightenment thinkers were secular. As a result, they were ideologically opposed to the conservative and religious nature of the Jews. Many adopted these racist beliefs that had already been laid out by prior thinkers, but wanted to deepen them even more. They began to use imagery of blood and inheritance when talking about Jews, things that make a Jewish person inherently different than a non-Jew. Blood couldnt be changed and was inherited. They said that Jews were subhuman, many comparing them to rats or other beasts. As the hatred for Jews grew in Germany, this increasingly scientific community found the need for a more scientific name for Jew hatred. The current term, Judenhass (directly translating to Jew hatred), was, Unclean. Many desired a term that didnt include the word Jew in it at all. Eventually, they coined a new, scientific sounding term: Anti semitism. To add on to historic anti semitism, Germanys economy wasnt in the best shape after World War I. Due to the terms of the Treaty of Versailles, the national debt Germany had accumulated fighting the war, demobilizing their army, converting to a peacetime economy, and supporting veterans and widows, Germany experienced a high amount of unemployment and inflation. By 1923 the German currency wasnt even worth the paper it was printed on, with the exchange rate being 4.2 trillion reichsmark to one dollar. By 1932, when Germany was on the brink of a depression, the unemployment rate had reached a staggering 32%. The reparations Germany faced after the war didnt help these issues either. The Allies expected the Germans to pay 12.5 billion in reparations, with the estimated payback period to be between 17 and 36 years. In addition to war reparations, the German government also owed its own people 41.5 billion in war bonds. Between 1918 and 1931, Germanys debt amounted to 38% of the countrys total national income. In 1922 Germany collected only one fifth of its budget outlays. Germany had a gigantic debt over its head a lot of difficulty trying to pay it. They couldnt raise taxes out of fear for a revolution, and they couldnt borrow money because no one would loan to a government already in so much debt. Germany also couldnt export its goods because tariffs made them too expensive. The only thing they could do in the first ten or so years after the war was print more money. The shambles that Germany was left in following World War I allowed a radical political party with a hate filled leader to rise to power. It can be argued that the a key factor to the Holocaust was Adolf Hitler himself. After fighting in World War 1, an antisocial Hitler did his best to stay out of the general population. He enlisted as a propaganda officer in Munich, the Bavarian capital of Germany. During this time, he realised, ironically, that he had a knack for public speaking. He continued to develop this skill while he remained enlisted with the army. When he was eventually discharged in 1920, he joined the National Socialist Party. At the time, it was just a fringe far left wing political party with no real power. Hitler began to speak at their rallies and drew bigger and bigger audiences with his speeches. In less than a year, he had worked his way up to leader of the party. He continued to give political speeches, and by 1923 the Nationalist Socialist German Workers Party h ad 55,000 members. In these speeches, Hitler would often ask for support from the Bavarian Government to help him overthrow the current democratic government in Berlin. Unfortunately for Hitler, they largely ignored these requests. One day, Hitler found a number of Bavarian leaders having a meeting in a beer hall. Hitler then proceeded to hold them at gunpoint with the help of some members of the Nationalist Socialist Party and demand that they help him march on Berlin and install him as leader of Germany. They played along with him up until one of the Nationalist Socialists mistakenly let them out of the beer hall. They then rescinded their offer to help Hitler, and Hitler was charged with the crime of high treason. Lucky for Hitler, the judge that would be presiding over the trial was Georg Neithardt, who was known for his contempt for the current German Republic. Georg heavily favored Hitler during the trial, often allowing him to go on lengthy political tirades whilst ignoring pleas for objections from the state prosecutors. This trial was widely covered in the German media due to the severity of the crime and the fact that Hitler was already locally famous. This trial put him into headlines for the duratio n of the trial, and made his name a household one. At the end of the trial, Georg only sentenced Hitler to a meager 5 years in prison. Hitler would only end up serving 13 months of those 5 years due to his good behavior during his stay. However, those 13 months were long enough to finish an autobiographical book by the name of Mein Kampf (Or My Struggle in English). Mein Kampf explained where his anti semitism came from as well as described his future plans for Germany. Although he released this book on his release from prison, it didnt become a bestseller until after he rose to power. Upon his release, Hitler gained many followers who believed that he was the change that Germany needed. He continued to give his speeches and he continued to generate more and more membership for the Nazi party. Curious to find out why the members of the Nazi party supported the party, an American sociologist traveled to Germany and hosted an essay writing contest. He challenged Nazi party members to write essays describing why they supported the party and Hitler, with the top essays receiving a cash prize. After receiving and reading the essays, the sociologist found that the three major themes were the sense of national community the party gave them, the idea of a strict chain of command and leadership structure, and anti semitism. With their growing support and the lack of public support for the current German Republic, it was only a matter of time until the Nazis took control. Germany during the 1930s was transformed into a National Socialist state. The Nazi party in Germany was a combination of fascism with anti semitism and a rallying of the working class. In 1933 Hitler became the chancellor of Germany, and in the subsequent years to come he would further increase his power. Also in 1933 The Enabling Act went into law, allowing Hitler to pass laws without the interference of the German Parliament. By 1934 Hitler governed as the exclusive leader of Germany and as the Fuhrerprinzip. Being the Fuhrerprinzip meant that Hitler and only Hitler spoke for the German people and that only he truly knew what was best for them. Under this principle, Hitler was supposed to have supreme unrestricted power and the commands he gave and decisions he made were to be treated as laws. Overall, the principles of the Nazi party were greatly shaped by Hitlers own world view. Hitler believed that racial hierarchies were real and valuable. He thought that some races were inhere ntly better than others and that those races that were better, had a duty to rule over the lesser races. In Hitlers eye the supreme race was the Aryan race. Aryans were tall, strong, beautiful, blonde haired, blue eyed people from the northern area of Europe. Hitler believed that in the German nation had a duty to protect the Aryan race and instill them into power over other races. This was very ironic because Hitler and many of the Nazi party members were about as far from members of the Aryan race as someone could get. Another principle the Nazis and Hitler believed in was rebuilding the German nation and enhancing its power. Hitler and the Nazis believed that war was both a positive and beneficial force, and that the Germans should become powerful enough to win any war against its racial enemies. Hitler also wanted to deal with the Jewish threat. Hitler actually believed that the Jewish people were the true enemies and that every misfortune that had occured was their fault. Hitler wasnt the only German politician that tried to blame the Jews for the countrys problems. In 1916 the German high command tried to say that Germany was unable to win the war because Jews were avoiding the draft. So they initiated the Jew Count. What this count actually found was that Jews were actually overrepresented in the military. There were actually 100,000 Jews in the army, 80,000 in combat, 35,000 decorated and 12,000 dead. When the German High Command received these figures they were disappointed and sealed the results, allowing fake results to be printed by the media. Another manifestation of anti semitism occurred in 1935 in the form of the Nuremberg laws. These laws were unanimously passed by the Reichstag and limited the freedoms of German Jews. These laws included rules prohibiting marriage between and extramarital sex between Jews and non Jews. These laws also prohibited Jewish children from attending German schools, and banned Jewish teachers from teaching. This segregation turned the Jews into outcasts in German society, and made life as a Jew even more difficult than it already was. Another factor culminating in the Holocaust was human nature. There have been numerous psychological studies that have tried to make sense out of how everyday people could allow the Holocaust to happen. Surely not every person in Germany or every person who participated in the Holocaust was a Nazi or a radical anti semite? The answer to that question lies in human nature. In 1963 Stanley Milgram conducted his famous obedience experiment to try and understand how the German people could allow and or participate in the Holocaust. The participants in the experiments were the teachers who had to teach the learner word pairs. The learner was thought by the participant to be another participant, but was actually a confederate of the experiment. For every word pair the learner got wrong, the participant was supposed to administer an electric shock to the learner ranging from 15 volts, a slight shock, to 375 volts, a severe shock to 450, labeled a lethal shock. The aim of the experiment was to see how far a normal person was willing to go in obeying instructions if those instructions were to harm another person. When Milgram first designed the experiment he hypothesized that only 1-3% of participants would administer the lethal shock. However after repeating the experiment 18 times the results showed the 65% of people would administer the lethal shock if they werent responsible for the learner. In other words, if the administerer of the experiment claimed responsibility for the well being of the person receiving the shock, the participant would more often than not deliver a lethal shock. Also when there was a second teacher in the room that the participant could instruct to administer shocks, 92.5 of participants would administer the 450 volt shock. What the Milgram experiment showed was that when people arent held responsible for their actions or when the harm their causing isnt very personal, almost anyone is capable of doing awful things. The fact that almost anyone is capable of doing awful things isnt to say that the people who participated in the experiments were bad people. What it does reveal though is that humans tend to obey authority figures. More evidence to support these ideas comes in Christopher Brownings book Ordinary Men: Reserve Police Battalion 101 and the Final Solution in Poland. In this book Browning follows the men of Reserve Police Battalion 101 who were by every account ordinary men. These men were not killers by nature, before the war they were just regular citizens, business owners, doctors, lawyers, etc. They werent all extremely anti semitic, most werent even members of the Nazi party. These men participated in the Holocaust for a number of reasons. Some were anti semitic, some participated because o f peer pressure, some because they didnt want to seem like lesser men and some participated because they feared they wouldnt have a career with the police after the war if they didnt. They also participated because there was no open objection to what was going on. No one was speaking out against what was happening. Some people found ways to avoid participation but they never tried to stop anyone else from participating. Another reason why it was easy for these men to participate in the Holocaust was because they werent killing day in and day out. Yes, the men of Reserve Police Battalion 101 did kill Jews and even massacre the elderly and women and children, but that wasnt part of their day to day affairs. Most of the time these men were rounding up Jews in Ghettos and shipping them to concentration camps. The only killing done in the Ghettos was of those who couldnt make it to the trains, and the majority of that killing was done by the Hiwis, the ones who did actually enjoy killing . Over time some men in the battalion did come to like killing but they didnt start out that way. The men of Reserve Police Battalion 101 were products of their situation and of human nature. put in their shoes, most people who probably act as they did. References: Bauer, Yehuda, and Nili Keren. A History of the Holocaust Revised Edition. New York, NY: Franklin Watts, 2001. Browning, Christopher R. Ordinary Men: Reserve Police Battalion 101 and the Final Solution in Poland. New York: Harper Perennial, 1992. Hayes, Peter. Why? Explaining the Holocaust. New York, NY: W.W. Norton Company, 2017. Hughes, Michael J. Fascists States That Rose During the Interwar Period. Class Lecture, History 368: Europe in the Contemporary World, Iona College, New Rochelle, New York, November 8, 2018. Katz, Steven T. The Holocaust in Historical Context, The Holocaust and Mass Death Before the Modern Age. Vol. 1. New York, NY: Oxford University Press, 1994. McLeod, Saul. The Milgram Experiment. Simplypsychology. 2017. McMillian, Dan. How Could This Happen, Explaining the Holocaust. New York, NY: Basic Books, 2014. Riley, Karen L. A History of The Holocaust. OAH Magazine of History, Teaching and Learning About Religion, 6, no. 3 (Winter 1992): 41-46.

The Life and Poetry of Amiri Baraka Essay - 905 Words

The Life and Poetry of Amiri Baraka To understand that you are black in a society where black is an extreme liability is one thing, but to understand that it is the society that is lacking and impossibly deformed, and not yourself, isolates you even more (About 3). This is a direct quote from Baraka, and it outlines his beliefs well. History and society have always influenced Amiri Baraka, and this made him feel as though society was isolating the Black community. Throughout his life, Baraka has tried to teach the idea of equality among races and classes by way of his poetry, plays, and speeches. His concept of equality came from his experiences while growing up during the time of the Civil Rights Movement. He held three†¦show more content†¦He then moved to Greenwich Village, and joined with the likes of Allen Ginsburg, Charles Olson, and Frank OHara. These artists, musicians, and writers were known as the Beat Generation (Baraka 1). During this time, Leroy had his works recognized by literary giant, L angston Hughes. He was also given an award for his off-Broadway play, Dutchman. On October 13, 1958, he married Hettie Cohen, a middle-class Jewish woman with whom he co-edited a magazine (Amiri 1). With his new reputation as a writer, he opened the Black Arts Repertory Theatre/School (BART/S) on April 30, 1965. The idea was to open a channel between the black artists and the masses. Even though the life of the BART/S was short, the idea spread across the nation (BARTS 1). When his theater failed to stay open, he began to distance himself from white society. In 1965, with the assassination of Malcolm X, this hatred was solidified. From this point, Baraka took Malcolms view of Black Nationalism. It was a view of equality, even through militant means (Young 3). The man who buried Malcolm X gave Leroy the Muslim name, Ameer Baraka, and later Ron Karenga, perhaps one of the strongest voices in the Black Nationalist Movement, changed Ameer to Amiri (Young 3). With his new name , and his new values, Baraka divorced Hettie and abandoned his children, leaving them for Newark. He then married Sylvia Robinson, who changed her name to Amina Baraka (Amiri 1). InShow MoreRelatedEssay about Binaries and Identities in Amiri Barakas Dutchman1242 Words   |  5 PagesIn Amiri Baraka’s Dutchman, the binary between black and white people embeds itself into the characters on the subway. Lula, who incorporates her image with control and deception through her white skin, represents one significant driving force. Clay, who faces manipulation from the oppressive white presence of Lula and the others on the train, has to step up and become an opposing force. Throughout these characters transformations from individuals to powers, they express a combination of double consciousnessRead MoreThe Black Of Black Arts Movement Essay2194 Words   |  9 Pagesideology that was developed from many Black Americans who desired self-determination and separation from the white co mmunity. Several of the artists who contributed to the Black Arts Movement included, but is not limited to, Leroi Jones, also known as Amiri Baraka, Larry Neal, Nikki Giovanni, and Sonia Sanchez. They sought to create art that spoke directly to the issues, needs, aspirations and sociopolitical rights of Black Americans. Overall, this movement is one of the most influential movements in regardsRead More The Black Arts Movement Essay1720 Words   |  7 Pagesproliferated through community institutions, theatrical performance, literature, and music. 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Free Finance Essay Royal Bank of Scotland Crisis Free Essays

string(88) " and failure during the credit crisis can be attributed to its acquisition of ABN Amro\." 1.INTRODUCTION The need for banks and financial institutions to grow beyond their normal businesses of accepting deposits and providing loans, into global giants that are diverse and often engage in sophisticated practices has been embedded as the pure nature of capitalism and market liberalisation. In the most recent decade, most global economies and organizations enjoyed unprecedented growth on the back of trade liberalisation and increasing financial services sophistication. We will write a custom essay sample on Free Finance Essay: Royal Bank of Scotland Crisis or any similar topic only for you Order Now The need for these organizations to grow led to unscrupulous practices such as risky loans, high bonuses and reckless investments, together with high leveraged practices, all of which have been recognised as the major reasons why these institutions were hugely exposed to the financial crisis. Banks were the most affected, primarily because they were one of the major starters. They engaged in risky lending to businesses and individuals, invested in securities backed by subprime assets, and expanded like they intended to take over the world – mostly with leveraged funding and customer deposits. If they had not invested so rigorously in these risky securities, a huge number of those banks that were bankrupted or needed government bailout would have still been standing. They had to write down huge consumer and business loans that were defaulted, and also write down on the value of collateralized debt obligations they had in their portfolio. This led to huge losses, and depletion o f capital reserves that prompted the intervention of the government in a huge number of global banking businesses. This essay therefore aims to analyse the effects of the economic crisis on RBS Group, parent company of Royal Bank of Scotland, and NatWest. The group’s financial, operating and investment activities would be analysed in this study, with the aim of establishing the reasons why they fell the way they did compared to other UK banks, what could have been done better to alleviate such heavy losses, and what they could do now to repay government shareholding, and renew customer and investor confidence. A background of the bank’s operations and investment activities would be outlined in the following chapter, followed by an analysis of what went wrong, its effect, steps that have been taken to alleviate such effects. Then finally an analysis of the bank’s current state compared to its rivals, and the effects of macroeconomic and industrial factors on its current and future operations. 2.BACKGROUND – ROYAL BANK OF SCOTLAND The Royal Bank of Scotland group is a British banking and insurance holding company based in Scotland, and operating in Europe, North America and Asia-Pacific. Its main subsidiaries include the Royal Bank of Scotland, NatWest, Ulster Bank In Ireland, Citizens bank in the US, RBS Coutts, Churchill Insurance, Direct Line and Privilege (RBS, 2009). RBS currently provides banking, private banking, insurance and corporate finance solutions to over 40 million customers worldwide (25 million in the UK) and 1 million small businesses. In terms of Group market share, RBS Group is currently the second largest provider of current accounts to customers in the UK (Mintel, 2009). Prior to the 2008 sub-prime mortgage financial crisis, RBS was the world’s largest company by assets, fifth largest in the world by market capitalisation and 10th largest company in the world (Financial Times, 2009). RBS was established in 1727, and now has 2,278 branches and 118 business centres in the UK alone (RBS, 2009). RBS’ revenue and PBT has grown consistently, up until 2007 where it recorded a record turnover and PBT of ?32.3 billion and ?9.9 billion respectively. However, following write-downs on recent acquisitions and losses suffered during financing activities, RBS posted the greatest ever loss by a British company of ?34.5 billion profit after tax in 2008 (RBS Financials, 2009). 3.ANALYSIS OF RECENT ACTIVITIES RBS Group has grown over the years through a series of acquisition and expansion across several market places in the UK, US, Europe and Asia Pacific. The organization expanded into new markets and increased market share through organic growth and acquisition. Its major US acquisitions were in 1998 and 2004 when the bank acquired Citizens Financial Group and Charter One Bank respectively (RBS, 2009). The bank also acquired NatWest on 11th of February 2000, when it was declared the winner of the hostile take over battle of the bank against Bank of Scotland. RBS also acquired a 10% stake in the Bank of China for ?1.7 billion in August 2005, in order to further its international expansion into Asia-Pacific markets (Gumbel, 2009). These acquisition activities in no way resulted in any shortcoming on the bank, but they even catapulted it into one of the biggest companies in the world. They made RBS a major player in the US and Asia retail and corporate banking industry, and also enabled it to leverage back office operations across the whole group. RBS had strong financials (Illustrated in figure 1). The figures show that up until 2007, its total assets, revenue and operating profit had been increasing consistently mainly as a result of these growth activities. These figures illustrate that the company was very strong and thereby never warranted a financial collapse or a takeover by the UK government. Then what went wrong? Similar to any other UK or International bank, RBS suffered impairment charges against bad loans made out to bankrupt companies such as the American conglomerate LyondellBassell (?1.5 billion), and also about ?1 billion tied down in assets in Icelandic banks and Lehman Brothers (RBS, 2009). According to the Financial Times (2009) the bank also made losses through its global banking and markets division that was responsible for investing in Bernard Madoff’s Ponzi scheme, US subprime market and also in Lehman brothers. These losses resulted in huge capital shortfalls within the bank and impairment charges of ?8,072 billion, but are still commonplace amongst other UK banks like Barclays and HSBC that made provisions of ?5,419 billion and ?24,937 billion respectively within that same year, but still made reasonable profits and paid dividends to shareholders (Reuters, 2010). A vast majority of RBS’ shortcomings, huge loss and failure during the credit crisis can be attributed to its acquisition of ABN Amro. You read "Free Finance Essay: Royal Bank of Scotland Crisis" in category "Best crisis essays" It is widely believed that RBS hugely overpaid for ABN Amro and did not get the better of the deal (Ram, 2007). In October 2007, RBS led a consortium with Belgian bank Fortis and Spanish bank Banco Santander to acquire the Dutch bank ABN Amro for ?49 billion after a failed bid from Barclays Plc. RBS claims its share of the ABN Amro acquisition was ?10 billion, which was paid for mostly with cash (Kennedy, 2009). The consortium that was made up of RBS, Santander and Fortis, carved up and parted with different divisions of the bank. While Santander made forth with ABN’s Brazilian business Banco Real, and its Italian business Anton Veneta; RBS made do with the bank’s wholesale and Investment banking division, which already had a huge number of risky assets and was most exposed to the subprime mortgage markets (Ram, 2007). RBS (2009) claimed that the acquisition would have boosted the bank into one of the formidable banking entities in the world if it acquired the right asset classes and done its due diligence. However, Griffiths (2009) believed that its subsequent failure was as a result of the exposure of ABN Amro to subprime mortgages, and the fact that the bank in itself overpaid and therefore severely depleted its capital base. However, we believe that the bank’s implicit culture of growth through acquisition is what prompted the acquisition spree, and even if the chairman – Fred Goodwin – had been forewarned about the global crisis, he may have still gone ahead of the deal. The bank’s willingness to become the world’s largest bank, has therefore catapulted it into one of the world’s greatest bank failures. 4.WHAT HAPPENED? RBS’ fate and the effects of the credit crisis on its operations did not really materialise when it began venturing on a range of capital raising and divestment activities. The company floated a ?12 billion 11-for-18 rights issue, the largest ever in the history of Banking; sold Angels Trains, its train leasing subsidiary for ?3.6 billion and a 50% stake in Tesco Personal Finance for ?950 million. All these activities were in order for the bank to shore up its capital reserves following the acquisition of ABN Amro (The Times, 2009; Duncan 2008). Hurdle (2010) stated that several investors where weary of the extent to which the bank was exposed to credit mark downs and risky assets, however since the financial results were not yet out and investors had no reason to be concerned about the state of the bank’s financials, the rights issue was fully subscribed. However on the 13th of October 2008, HM Treasury announced plans to inject an initial ?20 billion of new capital into RBS. In return, the Treasury would have a say in how the company is run, cut bonuses handed out to bankers, protect customer deposits and also help protect these banks’ toxic assets (Gumbel, 2009). RBS then intended to raise a seconds right issue of ?20 billion from investors, which was shunned as investors only took up 0.24% of the shares being offered as they were being offered at 65.5p per share and the shares were already trading on the floor at 52.7 per share (Duncan, 2008). Shareholders were also highly concerned about the potential nationalisation or ownership of the bank by the government, which would have profited the customers, but not the investors and not even the taxpayers (Gumbel, 2009). This resulted in government taking up the ?15billion that they underwrote for the issue, after initially investing ?20 billion of taxpayer funds in the bank. On t he 28th November 2008, RBS was 58% owned by the government after the unsuccessful rights issue. The fact that the government now owned 58% of the bank led to investor resentment regarding the bank, as they feared that the government would interfere in the bank’s operations and therefore prevent business as usual. However, these feelings where nothing compared to the earnings announcement on the 19th of January 2009 in which RBS expected to see write downs of ?20 billion following the purchase of ABN Amro and operating losses of over ?8 billion operating loss due to its exposure to the sub-prime market in the US. Shares fell 68.8% to 11p (Dunkley and Griffiths, 2009). The write downs associated with its acquisitions were due to the fact that the bank realised it overpaid during the acquisitions and the assets that had been paid for could never be sold for those prices, therefore confirming Ram’ (2007) allegations. Following the stock freefall and huge investor resentment, the government agreed to increase stake in RBS to 70% by converting ?5 billion in preference s hares into normal shares thereby effectively controlling the company and eliminating the compulsory dividend payments of ?500 million regardless of whether the company made money or not. Figure 2: RBS’s stock market prices from 30/01/07 – 28/01/10. Source: Reuters (2010). Most other banks, as discussed earlier also suffered impairment charges with regards to credit and exposure to subprime mortgages, however they did not necessarily need government bailout, with the exception of Lloyds TSB that was encouraged to acquire HBOS. According to an article on BBC News (2009), the acquisition of ABN Amro was regarded as â€Å"worst and most ill-time takeover in history†. By the 20th of January 2009, a day after its earnings announcement, RBS’ value dropped to ?4.5 billion from ?75 billion two years earlier (Times online, 2009). It was now worth more than half the cash it paid in the deal to buy ABN Amro. RBS’ current market value is between ?18 –?20 billion (Reuters, 2010) 5.STEPS TAKEN TO ALLEVIATE The effects of the financial crisis, especially on retail and commercial banks, really hampered consumer confidence. It was now the responsibility of the UK government to come up with schemes and plans in order to help cushion and bailout the banks, in order to prevent an overall mass resentment of the banking industry. The Asset Protection Scheme was therefore introduced in February 2008, which RBS committed to by signing up ?325 billion of toxic assets (RBS, 2009). The fact that the bank had that much toxic assets (5.5x its total shareholder equity and 13% of total assets), makes one wonder about the effectiveness of financial regulation in protecting the banks’ customers. If there was ample regulation that limited the amount of toxic assets that each bank could invest in, a much lesser percentage of toxicity could have been protected, thereby significantly affecting the UK Taxpayers (Slater and Ferreira-Marques, 2010). However Duke (2010) asserts that though these banks did engage in risky investment practices, the level of toxicity of these assets were not really known due to the sophistication of the financial system and collateralized debt securities. The scheme however helped to protect RBS’ assets against loss of future value. Signing up to the scheme effectively increased government shareholding to 84% of the bank, effectively part nationalising the bank, and leaving shareholders with only 16% shares in the company. The organization now having learnt its lesson (under the thorough supervision from the UK government) has now opted to divest a range of assets such as its 4.26% stake in Bank of China ($1.6bn), and about one fifth of its businesses, in a bid to concentrate on its core markets (Murden, 2010). Recent developments include the 3Q 2009 loss of ?2.2 billion by RBS, particularly attributed to its sale of non-core assets; recent plans to divest early from the Asset Protection Scheme and also plans to sell off its Insurance assets, commodity trading business (RBS Sempra), about 318 bank branches (Guardian, 2009) and a ?1 billion pledge to UK manufacturing companies (RBS, 2009). The following chapter would discuss the current effects of macro economic and industrial factors on the affairs within RBS. 6.MARKET AND INDUSTRY ANALYSIS Following RBS’ record loss blunder last summer, the government stake within the organisations has consistently risen from 57% following a failed rights issue, to 70% following share conversion, and now 84% following its decision to join the Asset Protection Scheme, thereby effectively part nationalising one of the world’s largest banks. Shareholder equity has been diminished to as low as 16%, and the government now have total control on the activities within the organisation. That is a severe blow for an organisation whose main aim was to deliver profits and dividends to its shareholders, now it is managed like a welfare bank, selling off international assets, being less competitive and concentrating on its core market, in which the banking industry is already matured (Duke, 2010). For all banks in developed, and even in developing countries, their affairs and future especially in the economic climate, is closely tied to government regulations. A proper illustration would be when President Obama announced plans to carve up banks, prevent them from owning hedge funds, private equity and proprietary trading desks. The shares of most banks that were engaged in these activities engaged in a freefall including that of RBS, which owns a joint venture RBS Sempra. The effect of this announcement would have meant that banks would have to carve out their investment banking divisions, which already accounts for a vast majority of profits in these organisations (Murden, 2010). The US President’s announcement is the least of RBS’ problems. It is under intense regulatory pressure both from the EU and UK, to carve out its subsidiaries and make it much more slimmer and less competitive. It is said to be a punishment for the bank due to its risky practices that warranted government bailout. However, a decision for a bank to sell strategic business units and bank branches does not come likely. It would severely impact on turnover and profits, group shared services, and its market share in those core markets. RBS is being asked to sell RBS Sempra, a JV that made a profit of a profit of over $600m in 2008 (Murden, 2010). It is also being required to sell its Asian business, its Insurance business and up to 318 bank branches, in a bid to shore up its capital and repay the UK taxpayers. These businesses are thriving and were the core of RBS’ core strategy of leadership and expansion. The sales of these assets would severely reduce the bankâ€⠄¢s assets, customer base and market share, and It may not be able to compete effectively in other markets apart from its traditional Retail and Corporate banking (Gumbel, 2009) Also, with current public outcry concerning its bonus payout, there is bound to be more trouble for the organisation with regards to recruiting and retaining high performing staff. For instance, the public is concerned that the bank wants to pay out about ?1.5 billion in bonuses, amounting to an average of ?85,000 per staff, when competitors such as Barclays and JP Morgan paying more to their staffs (Patrick, 2010). Even if the bank were government owned, curbing and paying out minimal bonuses just like this would push staff away to competitors that are able to pay competitive packages and are not government controlled. According to Johnson (2009), the bank has already lost about 1,000 staff to competitors such as Barclays last year, and could lose even more staff if the row with the government over bonuses continues. The organisation is also said to be suffering an increasing threat of credit markdowns, especially in its loans granted to Four Seasons, and also in Dubai’s real estate crisis (Slater and Ferrerira-Marques, 2010). These loan write downs reflect on the practices that the bank had always engaged in, and calls for stricter risk measures that ensures the bank faces lesser threat of write downs in the future. Apart from these measures and effects, the bank is also facing a customer crisis, in the way in which customer perceive the bank. If the bank continues to engage in credit markdowns and selling off its assets, customers may flee for more stable organisations that do not necessarily have that much government oversight. The same could be said for its employees and investors as well, with the government controlling all decisions. There are also some legal issues affecting the organisation, as some of its shareholders are suing the bank over its right issue in 2008. They attest that they were not made fully aware of the risks associated in the ABN acquisition prior to their signing up for the shares. These investors paid 200p for RBS’ shares, only for it to drastically lose about 95% of its value months later when it announced its biggest annual loss (BBC News, 2009). In terms of its industry analysis, the company is at a severe disadvantage when it comes to competitive rivalry. Due to its government ownership and uncertainty regarding its future, the company is struggling to compete for customers, employees and investors, against other formidable strong opponents like Santander, Barclays and HSBC. The bank has to sell its Insurance, private equity and over 300 branches. These would severely dent investor and employee confident and market share in a number of core markets. The bank also has to sell its transaction services business. Based on figures in Table 1 below, RBS still accounts for 18% of all current accounts in the UK, with the lowest market cap of about ?21 billion (18th January 2009). Thereby illustrating that it is still able to compete effectively in the UK market, but to what levelIf the government keeps meddling in its affairs? Current Account Market Share Market Cap (? billion) Total Assets (? billion) PAT (? million) Lloyds Banking Group 25% ?36 ?1,195 ?845 RBS Group 18% ?21 ?2,508 -?38,513 HSBC First Direct 14% ?122 ?1,736 ?6,498 Santander 14% N/A N/A N/A Barclays 13% ?36 ?2,320 ?5,287 Table 1: Market share of top UK banks. Source: Reuters (2010) The economic climate, and the government’s need for new competitors have severely reduced the barriers to entry into the banking system. It was recently announced that Blackstone Group and Virgin planned to open banks in the UK (BBC News, 2009). And guess whatThey plan to do so by hiring off staff and buying off bank branches that are being sold by RBS. The market capitalisations of most banks are less than 40% of what they were prior to the economic markdown. Even the ABN Amro that RBS bought for a large amount would not be worth that same fee now. Therefore there is a huge opportunity for start-up banks or even international banks to come into the market and compete effectively with existing players. The major suppliers to the industry now are invariable the government who are providing insurance schemes and bailout funds to RBS. The government has enormous power and has been able to exercise it repeatedly in directing the actions of the organisation. Buyers, being bank customers also are weary, and the unwillingness of customers as a whole to join the bank can severely impair the bank’s ability to attract deposits and therefore make more money by lending it to other individuals and businesses. However, the banking industry is crucial in any economy, and is needed to provide credit to businesses, therefore there is no substitute product. This means that the government may continue to support the companies for as long as necessarily, so as to increase liquidity in the economy and provide businesses with adequate loans. 7.FUTURE PROSPECTS Based on the information gathered and analysed in this study, it can be ascertained that RBS has a very bumpy road ahead. It has 84% government shareholding, and up until when it would be able to raise ?17,640 million (84% of current market cap – ?21bn), it would continue to have government oversight, and its operations, investment and financing activities would continue to be severely impeded. Its current aggressive asset sales that’s its current CEO – Stephen Hester is embarking on is more like a total opposite from the aggressive expansion strategy of former chairman – Fred Goodwin. As to whether RBS would return to profitability in the nearest future, we do not know. But the bank is still announcing credit write offs, so it doesn’t look too optimistic anytime soon. Also, its strategy of winding down businesses, would severely reduce revenue and profitability figure in the short run, but with a competitive concentration on its core market, and a number of core brands, it could still compete effectively and drive growth locally in UK and EU. However, as forecasted by Norman (2009), that would not be for a few years to come. The bank is still going to find trouble attracting and retaining staff, and its customer base may not grow as well as it used to. However this is a great opportunity for the organization to draw up a new divestment strategy that would ensure it gets rid of regulatory oversight and returns back to profitability, shareholder influence and dividend payment in the nearest future. 8.CONCLUSION RBS has shrunk in recent years, from a formidable force in global banking, to a part nationalised bank with intense regulatory oversight – that seems like punishment – from both the UK and EU regulators. The bank’s shortcomings occurred mainly as a result of its acquisition of ABN Amro, and not necessarily due to credit markdowns and subprime exposures. Its acquisition was been fuelled by a culture of aggressive growth and expansion in foreign markets, which delivered exceptional growth within those periods. With the advent of the financial crisis, and near bank failure, came a 84% shareholding lifeline by the government, and with that came an intense regulatory oversight that has severely impeded the bank’s asset base, and even promoted a de-establishment of some core and noncore businesses. These factors have impeded the bank’s competitive strength with regards to current and prospective employees, shareholders and even customers, a disadvantage that may take some years to alleviate. It is therefore recommended that the bank drafts an achievable repayment plan over the coming years for it to be rid of government shareholding and return itself to competitiveness – albeit with a new lesson learnt. 9.REFERENCES BBC NEWS (2009) RBS shares plunge on recession, www.bbc.co.uk, (accessed29/10/2009) Duke, S. (2010) Pressure on Government to slash RBS payouts after global banking retreat on bonuses, www.dailymail.co.uk, accessed: 26/01/10 Duncan, H. (2008) RBS chiefs expect 95% to take up rights issue’,www.thisislondon.co.uk. (accessed 30/10/2009) Financial TImes (2009) RBS et mon droit: HM deficits. ftalphaville,ft,com, (accessed 20/01/2009) Griffiths, K. (2009) RBS suffers biggest loss in UK history, www.telegraph.co.uk, accessed: 26/01/10 Gumbel, P. (2009) Saving Britain’s Broken Bank, Fortune, 00158259, Vol 159 (10) Howells, P. G., and Bain, K. (2005) The economics of money, banking and finance: a European text, Pearson Education, 602pp Hurdle, J. (2010) Developer sues RBS unit for $8 billion, www.reuters.com, accessed: 25/01/10 Johnson, A. (2009) RBS suffers exodus in wake of bonus threats, The Express, www.allbusiness.com, accessed: 28/01/10 Kennedy, S. (2009) The curse of the ABN Amro acquisition, www.marketwatch.com,(accessed 31/10/2009) Mintel (2009) – Current, Packaged and Premium Accounts – UK – June 2009 (accessed 20/01/2009) Murden, T. (2010) RBS sale on track despite Obama ban, www.scotlandonsunday.scotsman.com, accessed: 27/01/10 Nayeri, F. (2009) British Bank RBS Gets Ready to Peddle Its Paintings, BusinessWeek online, 12/25/2009, Norman, L. (2009) UK Defends Its Actions on Rescue of RBS, Wall Street Journal, www.online.wsj.com, accessed: 26/01/10 Patrick, M. (2010) RBS Branch Sale to Step Up A Notch As Possible Bidders Emerge, Dow Joines Newswires, www.online..wsj.com, accessed 28/01/10 Ram, V. (2007) What RBS Did Wrong, www.forbes.com. (accessed 30/10/2009) Reuters (2010) Financial Statements for RBS, Lloyds TSB, HSBC, and Barclays, www.uk.reuters.com, accessed: 25/01/10 RBS (2010) RBS/NatWest Launch $1bn Fund in Support of UK Manufacturing Sector, www.rbs.com/media/news, accessed: 25/01/10 RBS (2009) What we do, www.rbs.com/about-rbs, (accessed 20/01/2009) RBS Financials (2009) Company Announcements, www.investors.rbs.com, accessed: 25/01/10 Slater, S., and Ferreira-Marques, C. (2010) Hester refocuses RBS as assets go on block, www.reuters.com, accessed: 27/01/10 The Times (2009) Royal Bank of Scotland: the bank that sank, www.timesonline.co.uk (accessed 29/10/2009) Times Online (2008) RBS shareholders shun ?15bn rights issue, www.timesonline.co.uk. (accessed 31/10/2009) 10. APPENDIX 2005 2006 2007 2008 Revenue (?bn) ?25,569 ?28,002 ?31,115 ?31,413 Total Assets (?100 bn) ?7,768 ?8,714 ?19,005 ?24,017 PAT (?bn) ?5,558 ?6,497 ?7,712 -?34,542 RBS 2005 – 2008 Financials How to cite Free Finance Essay: Royal Bank of Scotland Crisis, Essays

Risk Management of Aviation Security an Example of the Topic Business Essays by

Risk Management of Aviation Security On September 11, 2001, airplanes hijacked by terrorists, slammed into the Twin Towers, the Pentagon, and crashed in a field. With the severity and tragic success of these terrorist conspiracies which claimed over 3,000 lives combines with the fear of another similar attack, has created a sense of urgency for increased airline security, including the use of lethal force (Emling, 2002). I believe had pilots been, armed terrorist would not have accessed the cockpit. Need essay sample on "Risk Management of Aviation Security" topic? We will write a custom essay sample specifically for you Proceed The presence of Air Marshals on commercial airlines has increased from 50 to 1000s, since the September 11 attacks, pilots express the need of flying armed along with the Air Marshals. Arming pilots with handguns has become the most popular concept for implementing airline security, especially among the pilots (Rider, 2003). Although pilots already bear the enormous responsibility of safely flying the airplane, assigning them the additional responsibility of carrying a firearm, and maintaining security is the only immediate, practical solution to secure aircraft, which do not have a reinforced cockpit door and multiple air marshals aboard (Irvine, 2002). Pilots have the responsible for operating and landing the plane, and the safety of crew and passengers. Armed pilots will help increase the safety of passengers, and crewmembers (Plante, 2009). The Air Marshals program has created an elite group of highly-trained aviation security professionals who work in teams and in very close co-ordination with airlines and flight crews (St. Johns,1991). Many concerns about arming pilots or letting them carry guns, but armed pilots actually have a much easier job than Air Marshals. An armed marshal in a crowded cabin is attacked from any direction he or she must be able to quickly distinguish innocent civilians from terrorists. An armed pilot only needs to concern himself with the people trying to force their way into the cockpit. It is also much easier to defend a position such as the cockpit, than to have to pursue the terrorist and physically subdue them, as a marshal would (Lott, 2003). The only way it would be possible to have armed pilots is if they were government employees of a government airline (Kince, 2002). Armed pilot is easily identifiable because he is always located in the cockpit and wears a uniform. For this reason alone, pilots should not be armed, and should never exit the cockpit (Wald, 2002). The September 11 terrorists were able to access the cockpit because the pilots are unarmed and unable to defend their cockpits. Exhibiting a strong deterrence on commercial aircraft by means of Federal Air Marshalls will be continually required. There is something about the possibility of looking down the barrel of a gun during an unauthorized opening of the cockpit door will keep a terrorist from repeating another 9/11 type event (Plante, 2009). Several disadvantages to pilots not being allowed to fly armed for example, terrorists could gain control of cockpit and take over the aircraft, insufficient training of pilots to fly armed, insufficient funding to place air marshals on all flights, and hijackers could overpower pilots and law enforcement and take guns from them. If airplanes had reinforced cockpit doors and have one or two Air Marshals on board every flight, this would meet the public demand for improved safety requirements. Until these measures are implemented airplanes can only be considered safe if the pilot is armed. Because of these serious implications, the feasibility of the proposed security measures must be considered (Lott, 2003). The Federal Air Marshal Service, a TSA agency that runs the armed-pilots program, reports that 85,000 to 90,000 pilots and crewmembers flying domestic passenger and cargo planes are eligible to carry a gun. That puts the number of armed pilots at about 9,500. The TSA projects the program to grow to 16.5% of eligible pilots by the year 2011 (Frank, 2005). While, doing the research for this paper I discovered All armed pilots are trained and deputized federal law enforcement officers. Airline pilots have been (re)armed for nearly five years now (Price, 2008), I honestly did not know pilots have been flying armed. References Emling, Shelley (2002) Ground Zero: The Solemn Salute Retrieved November 19, 2009 from The Plain Dealer. Frank, Thomas (2005) More than 10% of pilots allowed to fly armed Retrieved November 19, 2009 from USA TODAY Irvine, James M (2002) Pilots Need Guns for Protection Retrieved on November 19, 2009 from The Plain Dealer. Kince, Thomas (2002) Armed Pilots Mean Nationalized Airlines Retrieved November 19, 2009 from SuppressedNews.com