Global financial crisis and its effects on Nokia Company Assignment

Global financial crisis and its effects on Nokia Company - Assignment Example On one side, many people believed those responsible for the crisis were the ones receiving bailouts, whereas on the other end, the worldwide financial problems were to affect the livelihoods of almost every individual on the planet due to global interconnection. The subprime turmoil came about in large potion due to the financial tools such as securitization used by banks (Sheila, 2008: 20). Through securitization, banks would pool some of their loans into sellable assets. In so doing, they off-load the risky loans onto others. For this matter, banks knew they would make millions of cash through money-earning loans. However, these money-earning loans tied up for decades, therefore, banks turned them into securities. Security buyers received payments regularly from all mortgages. As a result, the U.S. banks off- loaded their risks. Upon testing this instrument, financial gurus saw securitization as perhaps the greatest innovation of the 20th century. With economic slump entrenching it s effects into the global economy, the divisions of the Nokia including telecommunication and mobile phones division started backing up the pillars of Nokia. In spite of the global deep recession, Nokia grasped potential, quickly came to its feet, and soon started streamlining its business. Financial crisis affected most financial institutions. However, as the securitization business continued buoying, high street banks got into a form of investment banking where they bought, sold, and traded risks. Same investment banks not contented with trading risks, selling and buying, they ventured into home loans and mortgages while they lacked the right management and controls. Many banks took huge sums of money inform of loans thus increasing their... This paper seeks to address the global issue of the financial crisis unfolding, and tries to consider the effects the crisis had on money lending institutions. Also, the change in the financial state of Nokia company is being considered against the background of the crisis. The subprime turmoil came about in large potion due to the financial tools such as securitization used by banks . Through securitization, banks would pool some of their loans into sellable assets. In so doing, they off-load the risky loans onto others. For this matter, banks knew they would make millions through money-earning loans. These money-earning loans tied up for decades, therefore, banks turned them into securities. Security buyers received payments regularly from all mortgages. The U.S. banks off-loaded their risks. Financial crisis affected most financial institutions. High street banks got into a form of investment banking where they bought, sold, and traded risks. Same investment banks not contented with trading risks, selling and buying, they ventured into home loans and mortgages while they lacked the right management and controls. Many banks took huge sums of money in form of loans thus increasing their exposure to financial problems. When people eventually began noticing the risk, their confidence fell down at an alarming rate. As a result, the level of lending slowed down at once and in other cases ceased . September 14, 2008 witnessed Lehman Brothers collapse. Following its collapse, governments worldwide struggled to rescue their gigantic financial institutions as the state of the failing stock and housing sectors persisted. In conclusion, global financial crisis was inflicting and driving even the developed economies bankrupt.

Christianity. What Went Wrong Research Paper Example | Topics and Well Written Essays - 1250 words

Christianity. What Went Wrong - Research Paper Example The conflict between Christianity and modern thought has been one of the intriguing parts that happened in those times. People know that modern thought is not really welcome in terms of Christian practices. Christianity has always been traditional and known to remain like that for years. Modernity, on the other hand, affects Christianity in a sense that it gives new ideas and raises questions that can influence the dignity of Christianity. There are studies which intentionally provide other meanings and interpretations of the Christian faith. In connection, these studies provide confusions to some Christian believers. Modern thought causes other people to have a different understanding of the Christian teachings. Modernity, in relation, had taken over the minds of the people in the nineteenth century. People started to transition themselves to a modernized world. Thus, giving them the new perspective that they have the freedom to redesign themselves and not just to stay in what seems to be the traditional way. There are many scholars who study the mystery behind Christianity. However, despite their efforts in making Christianity stand firm, these studies even led to rising of conflicts in Christian world. With all the modernity during the nineteenth century plus their studies regarding Christianity, everything went puzzled and confused causing people to start criticizing and questioning. In relation, one of the scholars who made a name in terms of theology during the nineteenth century is Friedrich Schleiermacher. He is said to be very influential during the nineteenth century. His influence has marked the history of theology. ... Hence, Schleiermacher has been named as the father of liberal theology. His study created many conflicts with regard to Christianity since he has a different view for religion. Roger Olson affirmed that, for Schleiermacher, Christianity and religion are all about deep and inner awareness (1999, 544). All religions, specifically Christianity, are based mainly in the experience of every human being. Roger Olson states that, for Schleiermacher, â€Å"it is distinctly human awareness of something infinite beyond the self on which the self is dependent for everything† (1999, 544). Schleiermacher cleared that in terms of principles, the two should not be in questioned: Christianity and science. In addition, Roger Olson notes that to Schleiermacher, any mystical divine interventions were not true. In his own viewpoint, these things do not exist at all (1994, 544). He even changed the traditional belief on the doctrine about the two natures of Jesus Christ. For him, instead of having this belief, it should merely focus on the experience of Jesus with the God-consciousness. The person who is known as the father of modern liberal theology proposed that spiritual feeling results to a true religion. Schleiermacher convinced people that to obtain true religion, one should submit a relationship to the source of life as stated by Gary Dorrien (1997, 12). In addition, Schleiermacher affirmed that one cannot have true religion if it is mainly based in morality, as well as doctrines. Gary Dorrien stated that knowledge, in terms of morality and science, should be taken away so that one can experience true religion and creates a relation with the source of life (1997, 13). Schleiermacher firmly believes that a person’s feeling plays a