The Financial Crisis Of The United Kingdom And The World

INTRODUCTION Nationwide Building Society is a mutual financial institution dealing with mortgage loans, investments, retail banking, current accounts, loans, house insurance, travel insurance and credit cards. It is the largest building society in the United Kingdom and the world. It falls under the banking and financial services sector. The great recession of 2008 hit the banking and financial services sector hard as the recession led to the financial crisis of 2007-2009. This period was also named as the credit crisis. The major cause of this crisis is the housing loans and the subprime mortgage crisis. As nationwide building society deals with a lot of mortgage loans it was very much affected by the great recession. But the way the†¦show more content†¦2. A temporary 2.5% reduction in Value Added Tax. 3. $ 3 billion investment spending brought forward from 2010. 4. $ 20 billion small enterprise loan guarantee scheme. The government also looked to increase government spending by increasing the public sector expenditure substantially in hope that it would shift the demand curve to its right. This was majorly done to stabilize the banking sector and the unemployment rate. The UK’s ability to take extraordinary action in fiscal measures is limited and its because of the burden it was bearing from a lot of major bank bail outs. This in turn affected public finance. Due to all this there was a substantial rise in deficit to an estimated 175 million pounds which is 12.4% of the GDP and a rise in the national debt above 80% of GDP at its peak. As they looked to stabilize the markets the government was facing a huge deficit and was spending more that what it was earning. Therefore, in 2010, the new government looked to cut down government spending and aggregate demand correspondingly. They looked to cut it down by 6 billion pounds. This had the risk of slowing down the economy but was optimistic. They had to go about this by increasing the tax rates for the rich. MONETRAY POLICY Monetary policy is usually framed by the Monetary Policy Committee in the UK. They have the authority to set the base interest rates but have to make sure that they are in accordance with the inflation rate set by the government. UK targets anShow MoreRelatedCountry Economic Analysis Report Essay1563 Words   |  7 PagesCountry Economic Analysis Report Throughout the years, the United States of America has endured a very strong economy. Although there have been many obstacles of hindrance such as trade deficits, wars, hostile governments and embargo’s, the economic status of the United States still continues to prevail. Just to name a few, the economy of this country survives on simple commodities such as pork, oranges, precious metals and the productive efforts of its citizens. In this paper, I will not onlyRead MoreCorporate Governance General Review1775 Words   |  7 Pageswhich cannot be ignored. 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Iceland involved the collapse of all three of the countrys major privately owned commercial banks, following their difficulties in refinancing their short-term debt and a run on deposits in the Netherlands and the United Kingdom. Here are some FactorsRead MoreCurrent Uk Economic Conditions1160 Words   |  5 PagesInformation and definition UK The United Kingdom of Great Britain and Northern Ireland is also known as UK, United Kingdom or Britain. United Kingdom is a member of European Union, G 8, G-20, World Trade Organization, Common Wealth of Nations, United Nations Security Council, NATO, Organization for Economic Cooperation and Development (OECD). United Kingdom is a well developed country. It has a rich economy brought up by economies of its individual countries England, Scotland, Wales and NorthernRead MoreBy Definition, An Exchange Rate Is â€Å"The Price Of A Nation’S1578 Words   |  7 Pagesthat the exchange rates can be affected by political decisions. 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London is theRead MoreFinancial Services : Hsbc Bank1663 Words   |  7 PagesHSBC Model 2009 October 9, a conference hosted by UK Financial Services Authority referred to the liquidity management in HSBC Bank, seen from the statistics of annual report of HSBC, this bank did not suffer a great impact of 2008 financial crisis. Analysts focus on the efficiency of HCBS model, make some general experiences that banks can learn from the HSBC bank (Choudhry, Landuyt 2010). In fact, the HSBC model did not was a very specific model to rescue the bank in liquidity management risks

Reflection on How Master of Science in Public...

My thoughts of public service prior to the MSPA program? My thoughts about public service before I entered the Master of Science in Public Administration (MSPA) program at California State University, Los Angeles (CSULA), were most likely different from those of someone who received an undergraduate degree in Public Administration. My undergraduate degree was in Criminal Justice, and my thoughts of public service were conceived from my personal interactions I had with public service agencies and media portrayals. My thoughts on public service were that there was a massive hole in â€Å"customer† satisfaction, economic efficiency, and effectiveness causing a lack of confidence in the system. One major factor was my personal interactions with†¦show more content†¦Private companies have had huge campaigns over the past few years to stay relevant with their consumers by engaging in social media and free apps, and transact on their smart-phones. Within e-Government, there are four stages that can be met which are: Presence, Interactions, Transaction, and Transformation (Garson, 2006). A second contributing factor to my thoughts about public service was the Medias portrayal of servants in public service. As early as I could remember there has always been scandals surrounding public service and its servants. Most recently the corruption scandal in the City of Bell, where the City Manager Robert Rizzo and five City Council members were charged in stealing more than $5 million from the City (Rogers, 2013). Similar cases like these have caused a huge loss in constituent trust in their government. These types of scandals can cause decades of unrecoverable relationships between the administrations and the constituents. Recently, a third report was about the Los Angeles City Council member Jose Huizar. A story about Mr. Huizar surfaced in the media where he was being sued by his former Deputy Chief of Staff. Although, these were only allegations, and he had not been convicted of any wrong doing the fact is that these allegations were definitely going to cause some headaches and possibly his re-election as he was getting ready to campaign for his third four-year term as a council member (Zahniser, 2013). With soShow MoreRelatedReflection Paper on Organizational Behavior Course3202 Words   |  13 PagesReflection Paper on Organizational Behavior Course When the Philippine Army (PA) gave me a Masteral Degree Scholarship, I was told to take a Human Resource Management (HRM) course. 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Martha Kyoshaba Date:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 1 APPROVAL This dissertation has been written under our supervision and has been submitted for the award of the degree of Master of ArtsRead MoreAn Impact Assessment of Science and Technology Policy on National Development of Nigeria61708 Words   |  247 PagesAN IMPACT ASSESSMENT OF SCIENCE AND TECHNOLOGY POLICY ON NATIONAL DEVELOPMENT OF NIGERIA BY ABUBAKAR ABDULLAHI October, 2 0 0 4 ii AN IMPACT ASSESSMENT OF SCIENCE AND TECHNOLOGY POLICY ON NATIONAL DEVELOPMENT OF NIGERIA BY ABUBAKAR ABDULLAHI (MATRICULATION NO. 3081) A Dissertation Submitted to St. Clements University in Partial Fulfillment of the Requirements for the Award of Doctor of Philosophy in Management St. Clements University October, 2004 iii DECLARATION I declare thatRead MoreHistory of Common Law9609 Words   |  39 PagesEngland, and the extent of the taxes he could raise. 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This year she retires after a lifetime’s teaching, the last 25 years of which has been spent as a junior-school headmistress in Wantage, Oxfordshire. I was brought up in Wantage, and between the ages of eight and 11 I attended her

English Renaissance Tragedy The Duchess of Malfi by John Webster. free essay sample

An in-depth analysis of this English Renaissance tragedy, the various factors involved which lead to the tragic ending and the struggle between good and evil. In this paper the author examines the theme of tragedy that runs through this play. In so doing he looks at the primary relationships in the play the relationship between the Cardinal, the Duchess and Ferdinand and the relationship between the Duchess and Antonio which he suggests is central to the play. He also suggests that the character of Bosola is an additional factor in the events that lead to the tragic end. The author examines each of these factors in turn, looking at the characters involved, their characteristics and the meaning of each factor and concludes by showing, not only how all these events led to the tragic ending, but also what meaning this has for the reader. From the paper: The central tragedy of the play is that of the Duchess. We will write a custom essay sample on English Renaissance Tragedy The Duchess of Malfi by John Webster. or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page She is represented as a fine woman in terrible circumstances. Her tragic flaw is her need to follow her heart. She defies the reality of the situation and makes the decision to marry Antonio and ultimately suffers for this choice. The tragedy of the situation is that she does nothing wrong. Her relationship with Antonio is pure. Even with the tragedy that results, she accepts this as a consequence of loving Antonio and accepts her fate.