JPMorgan Chase Paper Essay Example for Free

JPMorgan Chase Paper Essay In the summer of 2012, JPMorgan Chase, the largest leading U. S. bank, announced trading losses from investment decisions made by its Chief Investment Office (CIO) of $5. 8 billion. The Securities and Exchange Commission (SEC) was provided falsified first quarter reports that hidden this massive loss. Discuss how administrative agencies like the Securities and Exchange Commission (SEC) or the Commodities Futures Trading Commission (CFTC) take action in order to be effective in preventing high-risk gambles in securities / banking, a foundation of the economy. In the summer of 2012, JPMorgan Chase, the largest leading U. S. bank, make known trading losses from investment verdict made by its Chief Investment Office (CIO) of $5. 8 billion. The Securities and Exchange Commission (SEC) was provided falsified first quarter reports that concealed this enormous loss. The duty of the U. S. Securities and Exchange Commission is to protect investors, uphold fair, organize, and efficient markets, and facilitate capital formation. Obligatory public companies to disclose meaningful financial information to the public is an effective move toward the SEC takes in order to assure the securities of this nation (U. S. Securities and Exchange Commission). These assist investors prevent high-risk gambles and allows them to make the right decisions when deciding on which companies to invest in. The Commodity Future Trading Commission regulates the product futures and options markets. Its target includes the promotion of competitive and efficient futures markets and the protection of investors against manipulation, abusive trade scheme and fraud (U. S. Securities and Exchange Commission). Both the SEC and the CFTC played a role in investigating the massive trading losses in the case of JPMorgan Chase. The SEC’s investigation could only focus on the suitability and completeness of JPMorgan Chase financial reporting and other public disclosures. However; SEC Chairman Mary Schapiro stated that her agencys investigation is limited, because the trades happened in divisions of the banking giant that arent subject to SEC regulation (CNN Money). The leader of CFTC, Gary Gensler, give an opinion that â€Å"JPMorgans losses are worth looking into, because as a U. S. bank, it is an entity with direct admission to the Federal Reserves discount window and federal deposit insurance (CNN Money). Determine the elements of a valid contract, and discuss how consumers and banks each have a duty of good faith and fair dealing in the banking relationship. A contract is a legally obligatory promise or set of promises (Bagley, C. 2013). If this promise is broken, either party involved can be legally responsible and take the other party to court. There are four basic elements in the creation of a valid contract. The first consist of an agreement between the parties involved, by an presented offer and acceptance. The second states that the parties’ promises must be supported by something of worth, known as consideration. The third advises both parties must have the ability to enter into a contract. The fourth element states the contract must have a legal purpose (Bagley, C 2013). The duty of good faith and good dealing is implied in every contract. In recent years the mortgage industry has been seen as a prime example of how consumers and banks need to better understand and adhere to duty of good faith and good dealings. Consumers had the responsibility of understanding the contracts involved in borrowing the money needed for their homes. Banks had the responsibility of knowing who they should lend money to, and the conditions of the rates involved on the loans provided. Relationships between banks and consumers could have been avoided if the duty of good faith and good dealing was implemented on contracts granted between the banks and consumers. Compare and contrast the differences between intentional and negligent tort actions A tort is a body of rights, and obligations that is applied by courts in civil proceedings to provide relief for persons who have suffered harm. Tort means civil wrong resulting in injury to a person or property (Bagley, C. 2013). An intentional tort action is when there is intent to cause harm to a person or property . Intentional torts include things like assault and battery, slander, false imprisonment, libel, and intentional infliction of emotional distress. These torts are often, but not always, the case that an intentional tort is also a criminal act (Bagley, C. 2013). A negligent tort action is when a person is careless to his or her own actions and did not intend to cause harm to a person or property. Even though that person is negligent, he or she is still held legally responsible because of their careless actions. To illustrate the difference between negligence and an intentional tort, let’s look at an example with two different scenarios. The plaintiff is a woman named Ramona, and in both cases, she is suing because of a broken leg. state of affair #1: Ramona is walking down the aisle of Wal-Mart store when she slips and falls on a puddle of cooking oils. The owner of the store was negligent for not cleaning up the spill. Even though the store owner did not intend for Ramona to get hurt, he is still liable for her broken led because his negligence lead to her injury. Scenario #2: Molly is walking to her car when she is assaulted by a man who wants to steal her wallet. The assailant shoves her to the ground, and she breaks her wrist as a result of the attack. The police later catch the assailant, and Molly sues him for her injuries. In both cases the end result is the same; Ramona end up with a broken leg. Both defendants can be held liable for Ramona injuries, but for different reasons. The store owner is liable because he failed to clean up the spilled of oils, which a reasonable person would have done. The assaulter is liable because they intentionally caused harm to Molly by pushing her. Discuss the tort action of â€Å"Interference with Contractual Relations and Participating in a Breach of Fiduciary duty† and, if the bank you’ve chosen were to behave as JP Morgan did, would you be able to prevail in such a tort action. The interference with contractual relations defends the right to enjoy the benefits of legally binding agreements (Bagley, C 2013). The existence of a contract at the time of the assumed interference is what separates tortuous interference with contract from the more complicated to establish tortuous interference with prospective contractual relations. If good grounds exist for the interference, such as the case with JP Morgan, then the defendant would not be liable. With the advent of mobile banking, discuss how banks have protected the software that allows for online transaction to occur through automation. The majority banks inform consumers that they are protected by the Online Banking Security Guarantee, which covers the security of your information and bank accounts. Banks hold a liability of making sure the consumers security is protected, and if dishonored most banks will guarantee up to a 100 percent against theft of your funds from online banking services. While many worry about online banking, there’s good news that mobile banking is to some extent secure just for the reason that there are so numerous variations of banking apps and methods in the market. A thief has no way of predicting which technique a possible victim might use. Cited Work U. S. Commodity Futures Trading Commission. (n. d. ). Retrieved March 1, 2013, from U. S. Commodity Futures Trading Commission: http://www. cftc. gov/index. htm CNN Money (n. d. ). Retrieved March 1, 2013, from http://money. cnn. com/2012/05/22/news/economy/jp-morgan-senate/index. htm U. S. Securities and Exchange Commission. (n. d. ). Retrieved March 1, 2013, from U. S. Securities and Exchange Commission: http://www. sec. gov/ Bagley, C. (2013). Managers and the Legal Environment: Strategies for the 21st Century, 7th Edition. Mason: South-Western, Cengage Learning.

Chilly Morning. Essay -- essays research papers

There is a place where the chill of the morning air cuts through a person like a knife. To stand up would take every muscle of the body, but even that would take too much energy. Thus, one sits upon the icy pond called the floor. Is this a dream? Somewhere a voice answers that it is more like a nightmare, so one just makes the most of it.   Ã‚  Ã‚  Ã‚  Ã‚  All around the sights and sounds of the morning begin to take affect. Very few people are there in the beginning. They all are in a sleepy haze, yearning to be back in the sweet comforts of their own bed. There they can wrap themselves in a blanket of never ending warmth and dream a never ending dream. In the harsh reality of the morning, they are here in the chilly morning air. There are very few sounds in the twilight of the day. All that one can hear is the buzz of what is the beginning of talking. Far off there is the sound of an early morning basketball game. There the players can hear the cheering of the crowd of a championship ball game in its fourth quarter. Will they win? Who knows?   Ã‚  Ã‚  Ã‚  Ã‚  There is some strange aroma that starts to wake the senses. In a nearby room there is a fresh, hot pot of coffee brewing. It begins to wake the senses and the mind, however, one still would rather be at home in bed. An awful stench begins to take the place of the coffee. The smell of breakfast begins to drift down from the kitchen. It has the aroma of mom cooking scrambled eggs. One begins to ...

Perkin Warbeck Essay

Explain why Perkin Warbeck remained a threat to the security of Henry VII for so many years. Perkin Warbeck was the second Yorkist pretender to the English throne after Lambert Simnel was defeated at the Battle of Stoke in 1487. Between the years 1491-99, he posed a significantly destabilising threat to Henry VII in dynastic terms, impersonating Richard of York, the younger son of Edward IV. The successes of Warbeck, which led him to remain a threat to the King’s security, may be largely categorised into the support from foreign powers during this period and discontent existing in England due to Henry’s methods of ruling with relation to sustaining an authoritative and respected status both within his own country and abroad. Whilst it is possible to challenge such a concept of a threat, Warbeck was eventually executed in November 1499, demonstrating in a modern context that the King’s perception of this pretender was one of great concern for his position. Steven Gunn has suggested that ‘Henry was a usurper and carried with him the problems of this title’. Upon taking the English throne, it was inevitable that Henry would face opposition to his rule, particularly in consideration of his lack of familiarity with English politics and those supporters of the Yorkist claim. With the knowledge that Richard III intended John de la Pole to inherit the crown and having already fought at the Battle of Stoke to secure his position, it would seem almost equally likely that Henry would be a paranoid character by the time that Perkin Warbeck came to attention, and he could not predetermine the reactions of the De la Pole family, who were largely responsible for the pretenders. It is significant not only that Warbeck was the second embodiment of discontent within Henry’s reign, but also that political unsettlement had been apparent under his predecessor – also a usurper. Henry is likely to have feared reaching the same fate as Richard III, whose reign had been plagued with suspicions surrounding the Princes in the Tower controversy and indeed, the dating of his coronation to appear three days before his victory at Bosworth suggests paranoia existing even before his rule. Thus Warbeck is best viewed in one sense as a non-military threat, being an encouragement of this paranoia through the exploitation of Henry’s potentially weak position. He reminded the King of the existence of dissatisfaction within his own country and later among foreign powers. The princes had never been seen again and were presumed murdered by their uncle, Richard III. In this way, there was an immediate simplicity for Warbeck to exploit the lack of clarification as to what had happened to them. Whereas Lambert Simnel’s claim was flawed in that Henry was able to parade the true Earl of Warwick through London during the crisis, Warbeck was imitating Edward IV’s younger son, Richard of York. Hence this crisis was much more serious, for Henry was unable to prove the existence of the true Richard and if Warbeck truly was the prince he impersonated, his claim to the English throne would have been superior to that of Henry. The threat of Warbeck was enlarged by the context in which it occurred – those behind the pretender were able to follow a potentially fatal method by which Henry’s position could be destabilised. In order to ascertain why any pretender to the throne would become a prolonged threat, the nature of the monarch’s rule must be evaluated. The view of Steven Gunn could be expanded upon to maintain that Henry’s rule naturally had characteristics of that of a usurper: unlike a hereditary monarch, he required more stringent methods of discipline to enforce his position as a ruler. In addition to passing attainders against those involved with the pretenders (Edmund de la Pole was fined à ¯Ã‚ ¿Ã‚ ½5000 to inherit some of his brother’s lands and never inherited the dukedom of Suffolk for his involvement with Simnel) Empson and Dudley greatly assisted in coordinating the increased use of bonds and recognisances against subjects. Then in 1497, Perkin Warbeck’s forces rallied the rebels during the second Cornish Rising in protest against raised taxes to support the invasion of Scotland and together, they nearly took the city of Exeter. In this way, it can be observed that Warbeck becoming a threat was in a paradoxical sense – Henry needed to use more powerful methods of rule to secure his own position and dynasty than an ordinary monarch due to his status, though the discontent which such methods brought about led to resentful individuals turning to the diversion of Warbeck. Threats in military terms from Perkin Warbeck during this period may be largely attributed to foreign support. Indeed, Warbeck potentially had concern also from nobility such as Sir William Stanley, as Margaret of Burgundy, sister of Edward IV, proclaimed him as her long-lost nephew. The role of France was crucial in causing Warbeck to remain a threat to the security of Henry’s position. In 1491, he moved to the French court and was treated similarly to a prince by Charles VIII, which illustrated to Henry a possibility of an invasion – the French had funded his own invasion of England in 1485 to overthrow Richard III, and the case could potentially have been that this claimant was genuine. The threat was heightened by Charles’ discontent in 1492 after Henry’s assistance of the Duchess of Brittany in an attempt to retain her independence from France, whilst the 1489 Treaty of Medina del Campo with Spain led the French to encourage James IV of Scotland to invade England. It was Henry’s invasion of France in 1492 which appeared to be a very drastic action with regard to this pretender – it was clear that with foreign military backing, his position could be significantly threatened. However, in this respect, it must be noted that the threat was not Warbeck as an individual, but rather the concept of the proceedings and those supporting him. He became a focus for French discontent with Henry VII in the same way that he had been a Yorkist focus in England. A prolonged threat from any pretender to any throne can always be attributed to discontent with a monarch’s rule. Conformingly, Perkin Warbeck was often able to exploit this to enlist support and increase opposition to the King. It is clear that the level of foreign support given to the pretender ultimately was the greatest contributing factor in threatening Henry’s security due to the possibility of a successful invasion, though the paranoia and the methods of rule enlisted to secure his dynasty were equal factors in causing Warbeck to remain a threat. In contrast, it is very significant that Warbeck was never a primary threat as an individual, but merely a strong secondary threat behind the foreign powers and nobility that supported him – it was the concept that destabilised the position of Henry VII.

Police Brutality Against African Americans - 1972 Words

But if we have better communication between the good cops with the community, there would be less of the bad cops who kill for no reason. Police brutality against African Americans have been increasing over the past couple of years. Proper training of law enforcers and better education to the community will help ensure some of these incidents would not end with a life lost. â€Å"Police need to learn more than logistics of policing but also the broader significance of their role in society† (Police Need Better). In this statement it is saying that yes, the job of the police to enforce the law, but also to ensure the safety of general public. Many Caucasian officers are getting away with the senseless killings of the African American population. For instance, in the case with Michael Slager trial, there was a mistrial declared. â€Å"A judge in Charleston declare a mistrial Monday after a jury deliberated 22 hours over four days without reaching a unanimous verdict. Slager, 35 , testified he feared for his life when he shot Scott, 50, in the back as he fled a traffic stop in April 2015† (Bacon). There is now a delay in the justice that Walter Slager deserves. Another terrible killing that happened in the town of Charleston, was the Emmanuel Nine. Dylan Roof went into the Emmanuel African Methodist Episcopal Church on a Wednesday, June 17th, 2015, afternoon during bible study and shot nine innocent African Americans. The nine victims were Reverend Clementa Pinckney, Cynthia Hurd,Show MoreRelatedPolice Brutality Against African Americans1997 Words   |  8 PagesThese were some of the last words from victims of police brutality against African Americans. Police brutality has been occurring ever since the police force began, but recently, the police have been targeting African Americans. In 2016, more than 250 African Americans were killed by the police. Most of the victims were unarmed and have not committed a serious offense. These frightening stat istics do not have to continue. If the average American recognized the severity of the issue and raised theirRead MorePolice Brutality Against African Americans1997 Words   |  8 PagesPolice Brutality against African Americans From over 300 years African Americans have struggled from being taken from their homeland to being forced into slavery. They regained their so-called ‘Freedom’ but were never quite equal with all. African Americans have been fighting for equality for years and have had multiple leaders bring attention to the issues like Martin Luther King Junior forming marches to Rosa Parks refusing to get up from her seat for a White person. In this day of age AfricanRead MorePolice Brutality Against African Americans1358 Words   |  6 PagesPolice brutality against African Americans is nothing new in today’s society. 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Kia Makarechi in â€Å"What The Data Really Says About Police and Racial Bias†, shows evidence of African Americans receiving more police brutality because of racism. Clint Smith in â€Å"Racism, Stress, and Black Death†, conveys how studies show that African Americans are receiving police brutality due to day-to-day discriminationRead MorePolice Brutality And The United States1479 Words   |  6 Pages Police Brutality in the United States University of Nebraska Kearney Colton Blankenship Abstract This research paper is an overview of police brutality in the United States. The paper covers what police brutality is and the definition. The information about police brutality is expanded about what is reasonable and excessive use of force an officer can use. Information is included about the thoughts of what the citizens feel about police brutality. Among the white andRead MoreLiterature Review On Police Brutality1105 Words   |  5 PagesLiterature Review Police and community relations has always been a work in progress, some communities are more challenging than others. There are various factors that impact the relationship police have with civilians such as geographical location, race, gender, personal experience and in personal ones as well. In the last few years police and the African American community on a national level been more disconnected due to a pattern of unforeseen circumstances of unarmed black men being shot andRead MorePolice Brutality Is An Extremely Serious Offence885 Words   |  4 Pagesthe police for help,Considering their job is to protect you at all times. But, who Do you call when it s a police officer abusing his authority? Who do you call when the peacemakers are disturbing your peace and just adding to the crime rates in America? 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