Population Growth Causes Poverty :: Expository Cause Effect Essays

Everywhere in the world, in every kind of culture, the poorest people have the most children. Does having many children make people poor? Or does being poor make people have many children? That is a hot question in the continuous struggle over how to spend foreign aid money. Those who think population growth causes poverty advocate programs in family planning and population education. Those who think poverty causes population growth favor direct economic aid, jobs, capital investment. Take care of development, they say, and the birth rate will take care of itself. Advocates of both sides have come to the village of Manupur in the province of Punjab in north India to prove themselves right. There is nothing special about Manupur. It is a typical Indian village, with a population in 1950 of about 1200, mostly farmers. Its people are not well off, though their lives are slowly improving. New seeds, fertilizers, and credit systems have caused wheat yields to quadruple since 1950. In 1953 a team from the Harvard School of Public Health came to Manupur to try out one of the world's first family planning programs. They visited all homes regularly, took a census, registered all births and deaths. They also instructed people about modern methods of birth control and handed out free contraceptives. The Harvard team expected that the birth rate would fall. The Punjabis were rural, poor and uneducated. They had an average of seven children per family. Many young people migrated to the city to find jobs; the ones who stayed inherited smaller and smaller plots of land. Surely if families knew how to prevent having so many children, they would have fewer. The people of Manupur politely accepted the contraceptive foams and jellies. At the beginning of the Harvard study their birth rate was about 40 babies per 1000 people per year. Six years later the birth rate had gone down a little, to 37.7. But the birth rate had also gone down all over the Punjab, even where there were no family planning programs. The Harvard researchers concluded that the villagers were not so ignorant after all. Family size had always been controlled with crude methods such as abstinence and self-induced abortion. Increasing prosperity caused people to want smaller families, because there was less need for children to work in the fields or support parents in their old age. Once that happened, birth rates went down. Modern contraceptives helped them go down more easily and quickly.

The Plot of Hypertexts :: Internet Technology Essays

The Plot of Hypertexts It is quite possible that hypertext is the new literate medium of the future, arguably the present. Unlike its bound counterpart, hypertexts nonlinear. They do not follow a simply straight path from beginning to end, rather the audience is able to choose the information necessary to them and move on. According to Janet H. Murray, author of Hamlet on the Holodeck, â€Å"if we give the interactor complete freedom to improvise, we lose track of the plot,† (Murray, 196). This concept is something completely new to literature, for never before had we have such medium with the reader having most of the control. Hypertexts are defined as, â€Å"a set of documents of any kind, (images, text, charts, tables, video clips, etc.,) connected to one another by links,† (Murray, 55). They have sparked interest in this new relationship between writer and audience. The plot is controlled/achieved by the reader, unlike in linear text where the writer controls the story’s destiny. The Victorian Web is such a hypertext. A project that began in 1987, The Victorian Web can be compared to a journal of interested readers contributing to the idea. It is a project of multiple writers, a feat nonlinear text can achieve with out a problem. With such possibilities, are hypertexts the new ideal medium? Careful critiquing of a hypertext is necessary when beginning to understand the new medium. The Victorian Web has numerous links on the home page alone, each link leading to a different path of interest. From there, the topics provide are broken down into more specific topics, each with a link of their own. Articles are provided for these topics of interest, catering to the need of the present reader at the time. Through my personal exploration of The Victorian Web, I was able to take separate paths on separate topics. The home page of the Victorian Web has 20 links on topics on the era, along with links for the function of the site itself.

To Build a Fire by Jack London Essay -- Jack London Build Fire Essays

To Build a Fire by Jack London The short story "To build a Fire" by Jack London, tells about the relationship between man and nature. The story takes place in the Yukon during one of the long night. The main character who is unnamed travels with a dog along a small trail to a mining camp. The man leaves against the advice of a local and after a short time realizes that he should have waited. The temperature is extremely cold because the mans spit freezes before it hits the ground. The main obstacle of his journey is the many covered springs that mean death to whoever falls into them. The man sends his dog in front of him to make sure that the trail is safe. Eventually the dog falls into one of the springs and gets his paws wet. Immediate, acting solely of instinct, the dog begins to chew the ice off of his feet. Further down the trail a similar incident happens, but this time the man falls into the spring. In order to keep his feet from freezing he has to build a fire. The first attempt to build a fire is flawed b y the location the man chose under a tree. After the man is unable to light a second fire because of the loss of dexterity in his fingers, he becomes panicked and blindly runs, until totally exhausted, and dies. Throughout the story the mood gives the impression of extreme cold, and the tone is ironic. Through the actions of the main character, Jack London shows that man must be humble to nature.   Ã‚  Ã‚  Ã‚  Ã‚  The main character in the story remains nameless becaus...

Benefits and drawbacks of online social networking

A certain part of society advocates that social media channels are potential powerful tools when building new and up-to-date individual and collective relationships in many fields of actions, whilst others hold the view that the ostentatious aspects of virtual networking are endangering the agreed values for the welfare of people and communities along decades. The former and the latter points of view will be enlarged below.On the one hand, arguments against social networking related to Individuals endorse the Idea of measuring how decisive -for personal and professional future-, are those Indelible marks In people's past that have supposedly been left behind; time frames are recorded including achievements and failures, as well as personal history. This as meant for many, that when trying to start a new life, a new career or just simply a different path in life, past follows their efforts Jeopardizing it.What is more, in many occasions, these unpleasant situations must be faced and j ustified by them; very valuable professionals end up not having the same opportunities than those who have not been that exposed to the media. This can be illustrated by the cases when employers have been looking for the most suitable candidates for a position. They would dig Into their curriculum vitae and would look for any trace that, by searching n social networks then, could lead to any apparently hidden personal information saying more than printed r ©sum ©s.In addition, potential companies can realize how much time people spend posting, commenting or sharing In social media as well as the type and the quality of Information spread by these users. All in all, In a professional environment, people do not want the personal information be exposed to every friend of theirs or even to public. Thus, something as simple as an Internet session is brought as a menace into themselves when privacy is compromised.Another two reasoning supporting the downside of online social networkin g highlight the fact that our society is increasingly becoming more individualistic and networking can exacerbate social differences between societies in or out the Internet or globalization world. Online networking is a time-consuming activity taking time away from other activities and taking over from real time Interaction. Loneliness Is a modern Illness that society has claimed to have as a consequence of non-satisfying relationships.Research has shown that friendships has helped people to develop heir resilience and ability to bounce back after adversity, as well as an ability to gain dramatic consequences on health because it disrupts sleep, raises blood pressure, increases depression and lowers immunity and overall subjective wellbeing, feeling isolated from others can cause mental health problems occurring more frequently in unequal societies where vulnerable people are often left behind.And when globalization exalts societies with high standards of connectivity in detriment of those who depend on factors such as governmental policies, local economic system ND population, is not it unfair when trying to build new basics for the new era's humankind? By treating social networks as incidental, individuals and society as a whole, are neglecting the profound double-edged sword of exposing lives, radical preferences, political inclinations among others, privileging amount of information rather than quality shared.On the other hand and from an individual point of view, social networking can be employed as a very useful tool for those who need to unveil difficult personal issues such as â€Å"getting out of the closet† or revealing illnesses in front of others; in this way, not only can they be examined and evaluated by their acquaintances but they can also gain support from their family, friends and community. At the same time, by sharing concerns, interests, and knowledge or study subjects, individuals can enrich the perspective of their own interests while others interact with them.For example, someone who has been feeling isolated because of a very rare illness can post his/ her feelings, inquire about symptoms, look for financial support when this person is trundling with the situation and what is more, can also find a cure when someone else in somewhere else take notice of this suffering. People can also obtain advice of goods and services or Just simply gain awareness of some situations that may potentially affect them in a positive or negative way.Experts have demonstrated how important social networking has become when a natural disaster such a seaquake occurs; a piece of news reaches an isolated location before the main wave strikes the land saving many lives. It is seemed that individual existences are put into a more employ society when sharing their woes and concerns, transforming a particular issue into common interest. Is it history, memories and traditions constitutive part of the common interest then?As it has been mentioned many times, another argument in favor of social media is mutual awareness. This is to say and from a collective point of view, by understanding society with its failures and achievements, different societies have been able to considerate diverse ways of reaching expected goals when learning from the past. By way of example, social media has proved to be an inexhaustible resource of knowledge while exposing key information, requirements, unknown facts or simply people searching for people.Someone inquiries into a partially well-known fact and within few minutes somebody else is replying with clues, advice or Just hints which open new doors to new questions or potential answers. This can also be endless, but what if society wants to honor a dead person or keeps memories by spreading these facts around? The infinite transfer of information through media is invaluable when hidden events and key people come then to light. In the end, associations constitutes a positive input i n the approach of building knowledge and consciousness of where, why and how the world has evolved.By way of conclusion and from a user of the Web-based group standpoint, today's society cannot deny the new era that the world is living in. The main bone of contention is about how society should learn, teach and wisely trespass the appropriate ways of using the media. Online communities and Blobs are becoming very popular and moreover, since the advancement of embedded systems, people an use them â€Å"on the go' with the help of cutting-edge handheld devices.Because of the ease of sharing information -with the help of embedded photo and video-, the whole world has become interactive in nature for better or worse. Similarly, people as individuals and as part of communities, are exploring the unthinkable potential that making connections through online sessions and are finally comprehending that the opportunities provided from this medium are immense; social networking website is a r evolutionary idea with a very bright future with further scope for advancements in the 21st century.

Prejudice in to Kill a Mockingbird Essay

In the world people are always preconceived based on who they are or what they look like. Even thought it isn’t as big of a problem in some areas as in others, we need to fight it. If we don’t then it will continue to get more serious and at times lead to death. In Harper Lee’s To Kill a Mockingbird, Alexandra tells her niece that she can’t play with a schoolmate simply because of his class. â€Å"? You can scrub Walter Cunningham till he shines, you can put him in shoes and a new suit, but he’ll never be like Jem? Because? he? is? trash. ‘† (224). This prejudiced state of mind is the foundation for the plot events of the novel. By way of experiences, a young girl, Scout Finch, must learn about the part prejudice plays in the everyday life of Maycomb County. Through settlement patterns, justice, and social stratification Harper Lee reveals the ways of prejudice. The first instance of prejudice, settlement patterns, greatly affects how people of Maycomb are prejudged, not just where they lived, but also where they dwelled. The Ewells are considered the lowest class of Maycomb, aside from the blacks, which is shown by the fact that they live at the edge of the town, right next to the black people. â€Å"? He would show me how where and how they lived. They were people, but they lived like animals'† (30). The author describes where people live as a sort of divider among them, the Ewells not only live near the blacks, but also right next to the garbage dump. Not only was the location of one’s residency used to prejudice them, but also where they would dwell. The blacks’ church, as described by Scout, was, â€Å"unceiled and unpainted within? pine benches served as pews? there was no sign of piano, organ, hymn-books, church programs† (120). Through her description of the church, Harper Lee allows you to know, without having to read any other section of the book, that the black people of Maycomb are of low class. The people of Maycomb are so prejudiced that they live in separate areas of the town from people who differ in social class. Furthermore, there are two types of justice in Maycomb. There is formal justice, what the court or law decides, and informal justice, the decisions, or â€Å"verdicts†, the people of Maycomb make about other people. Both are often tacitly bound by a mindset of prejudice. When Jem is upset about the conviction of Tom Robinson, he asks his father how the jury could possibly do it, when he was obviously innocent. â€Å"? I don’t know, but they did it. They’ve done it before and they did it tonight and they’ll do it again and when they do it? seems that only the children weep'† (213). Atticus means that only children become upset over a black man being convicted simply because of his race. While the older people are so accustomed to it that it is not even unexpected, let alone unsurprising. Likewise, informal justice is very hard for Scout to understand. She questions her father about why the Ewell children are allowed to skip school even though it is illegal. As Atticus explains it, â€Å"? Sometimes it’s better to bend the law a little in special cases† (30). People let the Ewells do what they want simply because they are Ewells. The people assume that none of them could ever become anything anyway, so why bother trying to force them to waste their time in school? The people made this â€Å"law,† and even though it is illegal, nobody fights it because there is an understanding about the Ewells. The people created laws, whether official or unofficial, that were based on prejudices. Last, the largest factor affecting prejudice, is social stratification. The citizens of Maycomb are very quick to make conclusions on a person based on their social class. People are immediately judged based on whom their family is. â€Å"Aunt Alexandra was of the opinion that the longer a family had been squatting on one patch of land, the finer it was† (130). The personality of a person is already decided in the minds of many Maycomb citizens just by looking at what their family did in previous generations. In addition, if you are black, you are instantly considered trash and below everybody else. â€Å"It was all over town this morning that you were in the Colored balcony. Wasn’t it right close up there with all those † (214). This statement demonstrates how the people of Maycomb all assume that if you are black then you are lower than they are. The people of Maycomb County almost always jump to conclusions about people just because of who they are or their family is merely because they are so accustomed to it. Concluding, Harper Lee’s classic novel, To Kill a Mockingbird, uses many factors, including where people live, the justice system, and social stratification, as items of which her characters use for their prejudices. Through these elements, the plot demonstrates how easy it is to prejudge somebody. While discussing why people fight so much, Jem wonders, â€Å"? Why can’t they get along with each other? If they’re all alike, why do they go out of their way to despise each other? ‘† (227). People fight because they are so vastly different. The answer to the fighting, which is found in this quote, is to stop judging each other on our differences and to start looking for our similarities. We need to all try a little harder to not prejudice different people if we are to achieve the goal of improvement in our lives.

Evaluation of a business code of ethics Essay

Ethical behavior from employees is the foundation for a successful business. Trevino and Nelson define ethical behavior as being, â€Å"consistent with the principles, norms, and standards of business practice that have been agreed upon by society (2007, p. 16, para. 1). A code of ethics is an example of the way a company would have employees act; an instruction manual for ethical behavior. Simply possessing a code of ethics does not guarantee ethical behavior from employees. Therefore, a code of ethics must outline consequences for violations. Employers must enforce the code as well. A code of ethics ensures that, if followed, employees will work diligently with integrity and expertise, safeguard confidential information, and do so in a professional manner. Implementing and maintaining a code of conduct and ethics creates stakeholder confidence in a multinational financial services company. MetLife is one of the largest financial services companies in the world as well as the number one life insurance company in the United States; providing services worldwide in the following areas: investments, financial planning, banking, and insurance. MetLife was formed as a mutual insurance company in 1864 in the wake of the American Civil War. The company would insure Civil War veterans against disabilities because of wartime injuries and sickness. After a rough start in the first four years and several reorganizations, the company started to focus primarily on the life insurance industry; a move that would establish MetLife as one of the largest companies in the United States. Over the span of 143 years MetLife grew significantly through acquisitions and continuing to provide superior service and support to clients. Most recently MetLife acquired American Life Insurance Company (ALICO), and provides people financial services, life insurance, health insurance, and investments, in the following counties: Australia, China, India, Japan, Korea, and Pakistan. This acquisition has given MetLife a dominant spot in the global financial services market making MetLife the largest insurance company in the world. With more than 50,000 employees worldwide, management  accentuates an ethical corporate culture with a compliance department that goes above any state or federal regulations with strict compliance monitoring. Management also creates a positive working environment free of harassment in any form and develops employees with goals of creating professional relationships that last a lifetime as well as achieving high levels of sales and pay. In addition to MetLife’s code of ethics all officers, managers, and employees are must follow and obey all applicable states and federal laws, company policies, and industry regulations where they hold a license to avoid any perception of impropriety. MetLife’s Chief Executive Officer Robert Henrickson states, â€Å"For 140 years, MetLife has helped individuals and institutions build and protect their most valuable assets† (MetLife, 2005, p. 2). In accordance with this reputation, MetLife has a code of ethics in place to support these efforts with the core values integrity and honesty as the foundation of the ethical culture within the company. These core values are vital to the company achieving the MetLife vision; to build financial freedom for everyone. The code of ethics at MetLife is a voluntary code of conduct that emphasizes a duty-based ethical system. The foundation for the code is broad and encompasses the following corporate values: integrity, expertise, suitability, full disclosure, fair competition, service, brand, confidentiality, professionalism, and reputation. However, a code of ethics does not guarantee ethical behavior. Managers enforce the code of ethics with employees as well as administer legal or disciplinary action that results from a deviation from the code of ethics. In the financial services industry deviations from compliance may result in a producer and manager getting in serious trouble. Trouble can be anything from fines to arbitration hearings and loss of licenses and registration. Therefore, many employees genuinely try to make a living and build a successful career following the code of ethics. This is a result of the organizational culture at MetLife. Employees and managers must make minimum sales number each year and failing to hit target numbers results in termination. Any major deviation from MetLife’s code of ethics that results a fine or legal action against the company will have the same end. There is a strong acceptance and adherence to the code of ethics. For example during quarterly compliance meetings employees get refresher training on important state and federal tax laws that change often. The effect this has on the organization is a positive one. However, there are exceptions to this as some employees and competitor’s employees just have bad personal ethics and draw negative attention to the industry for bad business practices. A recent example is the Ponzi scheme committed by Bernard Madoff. In one of the worst periods of economic uncertainty Madoff defrauded thousands of investors out of billions of dollars and at the same time planted the seeds of consumer mistrust against individuals working in the financial services industry. Management expects employees to â€Å"do the right thing† for clients. The primary focus for employees is to achieve MetLife’s vision through fair sales practices, excellent customer service, and making suitable recommendations to clients. Employees must adhere to strict corporate compliance monitoring that goes above state and federal regulations. For example an independent insurance agent, non-MetLife, must complete 16 hours of state mandated continuing education classes each year whereas a MetLife agent must comply with state regulations as well as MetLife’s annual continuing education courses. MetLife’s courses are intentionally more in-depth than the material that the state courses cover and emphasize ethics in all business practices. MetLife is proud of the reputation the company has established in the financial services industry and expects employees to operate their personal business with â€Å"the highest standards of conduct in all business endeavors† (MetLife, 2010, p. 7). Managers also follow the same code of conduct and  ethics. And can be held accountable for employee violation of the code of ethics. Management must adhere to strict company guidelines and complete many more continuing education classes that cover a variety of topics; some that employees take as well as many others that focus on corporate compliance regulations. State and federal laws to abide by so MetLife has its own regulations that cover all states and goes beyond any individual state’s laws or regulations. Each employee, manager or producer must complete an annual compliance review and demonstrate an understanding of the concepts and practices covered by the code of ethics. Corporate ethics and compliance managers hold quarterly and annual compliance meetings with all employees to discuss industry incidents and violations that cost other companies and producer’s money, court proceedings, and careers. In the code of ethics there is little space for change to make monitoring employees easier or any individual employee more compliant. In the financial services industry state and federal laws change or are undergo tweaks a little each year. To that end MetLife releases a code of ethics each year that outlines any new practices or changes in the way employees are to do business, always keeping standards consistent with MetLife’s vision. In short, a code of ethics is a necessary tool for management in an organization such as MetLife. All directors, managers, and employees are expected to read the code of ethics and refer to it when making critical decisions. The company keeps employees up to date with compliance meetings and maintains a high standard of compliance monitoring and reviews. However, ethical behavior is not guaranteed simply because these systems are in place or available for review. Managers set the example for employees and set the standard for the employees they supervise. Under the duty-based system in place employees are expected to do the right thing for clients. The company hires from within only the best employees into management positions. This ethical system keeps organization simple while maintaining a strong compliance keeps financial transactions ethical and in line with  MetLife’s vision; to build financial freedom for everyone. References Metropolitan Life Insurance Co. (2009). Keeping Our Promises. Retrieved February 6, 2011 from www.metlife.com/assets/investments/products/annuities/CLVA6037-3.pdf Metropolitan Life Insurance Co. (2010). Representative Compliance Manual. How We Do Business. Retrieved February 5, 2011 from https://imetlife.metlife.com/wps/myportal/rpp/content? contentId=8ac6c697baa72210VgnVCM1000000ae818acRCRD Trevià ±o, L. K., & Nelson, K. A. (2007). Managing business ethics: Straight talk about how to do it right (4th ed.). Hoboken, NJ: Wiley.

The Caused and Effects of Lehman Brothers Bankruptcy

The caused and effects of Lehman Brothers bankruptcy. ? Lehman Brothers was founded in 1850 and it is a diversified investment bank provided financial services for global companies, institutions, governments and investors. Lehman Brothers was one of the most powerful stock and bond underwriters and dealers in the world, and it also as the fourth largest investment bank in the United States before. Because of widely recognized to Lehman’s operational capacity, the company had many world-renowned companies as its customer base such as Dell, Fujitsu, IBM, Intel, Philip Morris, Shell and Wal-Mart [1].Lehman Brothers had faced four collapses before it bankruptcy, one was the stock market crash of 1929, second it had interest rate loss of $6. 7 million in 1973, and then because of Lehman’s internal conflict led to be merger and acquisitions by American Express in 1984, and last one was shortage of funds in 1994. Richard Fuld as Lehman’s CEO from 1993, he led to Lehman Brothers grow up and avoid those four collapses. Even Lehman Brothers was turned the corner in these four collapses; it still declared bankruptcy as a result of $613 billion total debt in 2008 [7].Lehman Brothers went to collapse make lots of impacts on financial markets, the most important reason caused Lehman bankruptcy is under the subprime mortgage crisis and complex financial markets. Before the subprime mortgage crisis of 2007, the U. S. real estate market over the leveraged financing and oil price was increase rapidly, many people in the excessive lending. However, Lehman Brothers had continued business of mortgage bond until the outbreak of subprime mortgage crisis in 2006, Lehman’s asset management, economic services, mergers and securities underwriting business accounted for Lehman's operating income of 40% [2].In 2008, because the subprime mortgage crisis spread to Lehman Brothers, the company suffered a serious hit from the financial losses and caused that stock p rice fell to only a few dollars. In September 2008, the Lehman Brother’s CEO Dick Fuld had experienced the most painful financial crisis in the history of the United States and the company went bankrupt. The Lehman Brothers which had experienced 158 years history toward to end [1]. Also, the collapse of Lehman Brothers brought an unprecedented shock wave for financial market and investment banking. The terrorist attack on 2001, September 11 led to conomic downturn and the stock market depressed, the Federal Reserve decided to continue kept low interest rate to ensure the most of enterprises and publics can achieve loans easier [9]. Due to the public would had more money to be used for mortgages and other spending, Lehman Brother seized the opportunity to develop its business so that Lehman’s profits growth quickly in the second half of 2002. Lehman Brothers’ sales revenue of subprime mortgage raised double of profits in both years 2004 and 2005 [3]. And Lehmanâ €™s present value of subprime mortgage CDO (collateralized debt obligations) investment reached up to $80 billion [5].Lehman Brothers issued two mortgage bonds companies in the United States are BNC and Aurora. These two branches of mortgage bonds and purchased from other companies constituted the CDO package. The worth of CDO could be about hundreds of millions and even billions of dollars to divide for sale to investors around the world. The interest rate of CDO is much higher than the national bonds in the United States and other investments, so Lehman Brother took advantage of sale these bonds to gained large profits. After that, the public began to worried more about future develop of CDOs from Lehman Brothers and other companies.Then, Lehman Brothers shut down one of the mortgage bonds company BNC because of huge losses and this caused the public’s panic of the credit crunch. The public began to suffer a serious mortgage crisis [7]. As a result, the capital losses a nd lack of credit to the banking system, so that no banks willing to lend money unless borrower to pay high interest rate. The banks which involved in this business are worried about losing their money. However, Lehman Brother was still announced good quarterly results even had problems and other investment banks (e. g.JP Morgan Chase, Citibank) had losses. In January of 2008, Lehman Brother reported their earnings shown that highest income up to $4 billion and their capital just $30 billion [2]. At that time their stock price up to $65, but eight months later the price fell to $4 with more than $600 billion debt. Since 2008, Lehman’s stock price had fallen by 60%. Besides, Lehman Brothers had alternative assets about $40 billion such as hedge funds, private equity funds and real estate funds. In May, Lehman Brothers reported that losses in hedge funds but then said they are recovered [11].Because of Lehman’s total debt $613 billion, and then the negotiation with Barcl ays Bank and Bank of America about take over Lehman Brothers was failed on September 14. While at the same time the investment banks gave up to help Lehman Brothers, Lehman’s market value dropped dramatically, these fact forced Lehman Brothers to filed for bankruptcy protection from the U. S. Bankruptcy Court in Manhattan on September 15, 2008 [4]. After filed for bankruptcy, Lehman Brothers exchanged trading at the OTC (Over the Counter) market only $0. 05 per share.Lehman exercised put option to ensure holders could get profit when they buy the stocks as $0. 05 per share and sell for strike price [10]. When the news of the fourth largest bank Lehman Brothers went bankrupt came out, the dollar currency and the U. S. stock index futures was declined at the same time, this indicated that the New York stock market crash in the open market. In order to prevent the open market crash of Lehman Brothers, the U. S. Treasury and the Federal Reserve System made great effort on three d ays to save markets. The investment bank Barclays and Bank of America exited.The Britain's third largest bank Barclays decided to drop out after the government refused to provide financial guarantees to save Lehman Brothers. Then, the bank of America all announced exit the action. Because the government refused to help and no other support, Lehman Brothers final decided to file for bankruptcy protection caused by suffered serious financial crisis[6]. As we can see, there are many factors caused bankruptcy of Lehman Brothers, such as market changes and instability led to systematic risks, the internal problems and risks from Lehman Brothers.The internal problem is one of the most important factors to cause it collapse. As the fourth largest investment bank in the United States, Lehman Brothers more focused on the traditional investment business such as underwriting securities, mergers and acquisitions for a long term. With the rapid development of financial derivatives and fixed inco me products trading, Lehman Brothers strived to expand these businesses and achieved great success. The real estate and credit business develop rapidly after 2000, Lehman Brothers began to involve in these business as other banks [6].However, Lehman Brothers expanded too fast and even in the decline of real estate market in 2007, the commercial real estate bonds of Lehman Brothers still grown quickly. Thus, the rapid growth created more systematic risks for Lehman Brothers. In addition, Lehman Brothers was different from other investment banks like JP Morgan Chase, Bank of America because Lehman had less own capital and its capital adequacy ratio is too low [6]. In order to collected funds to expand business, Lehman had to rely on the bond market and bank lending market.The greater is the leverage ratio when the company borrowing more money from banks, but it has less equity capital. The profit is amplified by the leverage ratio when it makes money, but the loss is enlarging with th e leverage ratio when the company has loss. The lack of funds would be increase the risks for the company when it loss. Moreover, to analyzed the problem of Lehman Brothers’ collapse, it also should be related with the U. S. subprime mortgage crisis and recent financial turmoil intensified from the summer of 2007. In addition, it also considered about the problem of insolvent.Lehman Brother had more than $600 billion bank loans, $155 billion debt securities, and only $639 billion net assets [8]. Besides, the U. S. government took non-interventionism accelerated collapse of Lehman Brothers. As the U. S. government did not make any financial support or warranty to save Lehman Brothers, and leave the market accept the news of the Lehman bankruptcy. The government refused to guarantee Lehman Brothers directly caused many investors to exited, while the Barclays preferred to acquire part of Lehman’s investment business in the United States, this still not strong enough to sa ve Lehman Brothers.Furthermore, the financial markets turmoil around the world should be affect Lehman Brothers, and it also one of a reason affect many companies to left Lehman stocks and bonds whether the U. S. financial institutions or foreign enterprises. Since the market got the news of Lehman Brothers bankruptcy, the Dow Jones Index has dropped nearly 800 points [7]. In short, Lehman Brothers bankruptcy caused the devaluation of investment, cash flow problems and additional losses. Also Lehman financial crisis had a great influence on investors’ directions.Many investors worried about Lehman crisis would be exacerbated the financial crisis and the market prospect is gloomy. Therefore, the Wall Street investment bank Lehman Brothers was collapse in the financial tsunami of 2008. Then on March, 2012, it completed the bankruptcy reorganization and will be to repay debts to creditors. After that, the fourth largest investment bank of the United States has become a historica l. The bankruptcy of Lehman Brothers might impact the entire financial market, the investors worried about the outlook of the U. S. economic and the international oil rices continued to decline. And the investors also concerned that the demand of crude oil and other commodities is likely to fall under the shadow of global recession. At the same time, the risk aversion awareness prompted investors to sell commodities and high risk assets. The U. S. stocks sharply down and European stock markets also had a significant decline. The event of Lehman Brothers gave to the world economic recovery to cast more dark shadows in 2008. References [1] Lehman Brothers Collection. Harvard Business School. Baker Library. Retrieved from http://www. ibrary. hbs. edu/hc/lehman/history. html [2] Sean Hinton. Lehman Brothers (LEHMQ). Wikinvest. Retrieved from http://www. wikinvest. com/stock/Lehman_Brothers_%28LEHMQ%29 [3] Landon Thomas Jr. (July 23, 2003). Market Place; Lehman to Buy Neuberger Berman Fo r $2. 6 Billion. The New York Times. Retrieved from http://www. nytimes. com/2003/07/23/business/market-place-lehman-to-buy-neuberger-berman-for-2. 6-billion. html [4] Lehman Bros files for bankruptcy. (September 16, 2008). Retrieved from http://news. bbc. co. uk/2/hi/business/7615931. stm [5] Lehman Brothers Holdings, Inc.Spector Roseman Kodroff & Willis. Retrieved from http://www. srkw-law. com/areas-of-practice/international/lehman-brothers. html [6] Luigi Zingales. (October 2008). Causes and Effects of the Lehman Brothers Bankruptcy. Retrieved from http://www. scribd. com/doc/11096014/Causes-and-Effects-of-the-Lehman-Brothers-Bankruptcy [7] Lehman Brother. Retrieved from http://en. wikipedia. org/wiki/Lehman_Brothers [8] Kim Sarro & Justin Pak. (November 29, 2008). The Causes for the Collapse of Lehman Brothers Holdings Inc. Retrieved from http://www. articlesbase. om/business-articles/the-causes-for-the-collapse-of-lehman-brothers-holdings-inc-664202. html [9] Lehman Brothers: The last empire of wealth. (December 6, 2011). Retrieved from http://www. stockmarkettoday. cc/lehman-brothers-the-last-empire-of-wealth. html [10] What Happens To Options During Bankruptcy. Option Trading Pedia. Retrieved from http://www. optiontradingpedia. com/what_happens_to_options_during_bankruptcy. htm [11] Hedge funds post biggest losses since Lehman. (June 2010). Retrieved from http://connection. ebscohost. com/c/articles/52970726/hedge-funds-post-biggest-losses-since-lehman