About Negativity Essay Example for Free

About Negativity Essay Also, you gaze at it occur, as it happens directly before you, and state no. Simply, no. It cannot work out this way. Its shouldn't end this way. In what sort of messed up story does the trouble maker win? In what sort of story does the casualty end up in dismay that she never got the equity she merited. That is the point at which you understand youre the scalawag. However, no, different people not honest either, theyre the scoundrel as well. Theyre more regrettable than you, yet youre still the lowlife, since you let it arrive in such a state. Everythings your issue. What's more, you despise everybody. What's more, you detest yourself. What's more, you abhor everything. What's more, your so loaded up with despise that you simply need to end everything. And afterward you understand that in the event that you do that, youll be despised considerably more, and that acknowledgment makes you abhor them more, and theres just so much screwing loathe and no real way to end it. What's more, that loathe transforms into distress and disarray and pointlessness, and its unending truly. Furthermore, its as gruff as I simply put it since theres no other method to communicate melodiously when youre that agitated. Furthermore, in all the despise you feel murderous, self-destructive, neurotic, and appalling. Also, theres no chance to get out. See more: Examples of parody in undertakings of huckfinn article What's more, theres nobody to support you, in light of the fact that youre too humiliated to even think about sharing these terrible sentiments with anybody however yourself. What's more, youre your solitary friend, however it doesnt matter on the grounds that youre accustomed to it being that way. What's more, youre shaking, shuddering, wailing in your forlornness, not feeling frustrated about yourself like your blamed for however detesting yourself. No. It cannot be this way, the miscreant doesnt feel along these lines. Yet, the casualty doesnt loathe along these lines. What's more, you discover the fallen angels in your considerations, and youre only a casualty of yourself. Also, the pattern of contempt it begins once more.

How to Draw a Lewis Structure

The most effective method to Draw a Lewis Structure A Lewis structure is a realistic portrayal of the electron circulation around particles. The explanation behind figuring out how to attract Lewis structures is to anticipate the number and sort of bonds that might be conformed to a molecule. A Lewis structure additionally assists with making a forecast about the geometry of a particle. Science understudies are frequently confounded by the models, yet drawing Lewis structures can be a direct procedure if the best possible advances are followed. Know there are a few distinct procedures for developing Lewis structures. These directions diagram the Kelter technique to draw Lewis structures for particles. Stage 1: Find the Total Number of Valence Electrons In this progression, include the absolute number of valence electrons from all the iotas in the atom. Stage 2: Find the Number of ElectronsNeeded to Make the Atoms Upbeat A particle is viewed as glad if the molecules external electron shell is filled. Components up to period four on the occasional table need eight electrons to fill their external electron shell. This property is regularly known as the octet rule. Stage 3: Determine the quantity of bonds in the atom Covalent bonds are framed when one electron from every iota shapes an electron pair. Stage 2 tells what number of electrons are required and Step 1 is what number of electrons you have. Deducting the number in Step 1 from the number in Step 2 gives you the quantity of electrons expected to finish the octets. Each bond shaped requires two electrons, so the quantity of bonds is a large portion of the quantity of electrons required, or: (Stage 2 - Step 1)/2 Stage 4: Choose a Central Atom The focal particle of a particle is generally the least electronegative iota or the molecule with the most noteworthy valence. To discover electronegativity, either depend on intermittent table patterns or, in all likelihood counsel a table that rundowns electronegativity esteems. Electronegativity diminishes descending a gathering on the occasional table and will in general increment moving from left to directly over a period. Hydrogen and halogen iotas will in general show up outwardly of the particle and are once in a while the focal molecule. Stage 5: Draw a Skeletal Structure Associate the iotas to the focal particle with a straight line speaking to a bond between the two molecules. The focal particle can have up to four different iotas associated with it. Stage 6: Place Electrons Around Outside Atoms Complete the octets around every one of the external particles. In the event that there are insufficient electrons to finish the octets, the skeletal structure from stage 5 is mistaken. Attempt an alternate game plan. At first, this may require some preliminary a mistake. As you gain understanding, it will get simpler to anticipate skeletal structures. Stage 7: Place Remaining Electrons Around the Central Atom Complete the octet for the focal molecule with the rest of the electrons. On the off chance that there are any bonds left over from Step 3, make twofold bonds with solitary combines on outside particles. A twofold bond is spoken to by two strong lines drawn between a couple of molecules. In the event that there are in excess of eight electrons on the focal particle and the molecule isn't one of the special cases to the octet rule, the quantity of valence iotas in Step 1 may have been tallied inaccurately. This will finish the Lewis dab structure for the atom. Lewis Structures versus Real Molecules While Lewis structures are valuable, particularly when youre finding out about valence, oxidation states, and holding, there are numerous special cases to the guidelines in reality. Particles look to fill or half-fill their valence electron shell. In any case, iotas can and do shape particles that are not preferably steady. Sometimes, the focal particle can shape more than different molecules associated with it. Likewise, the quantity of valence electrons can surpass 8, particularly for higher nuclear numbers. Lewis structures are useful for light components however less valuable for change metals, including lanthanides and actinides. Understudies are advised to recollect Lewis structures are an important apparatus for finding out about and foreseeing the conduct of particles in atoms, however they are blemished portrayals of genuine electron movement.

Circus Mirror Effect Social Anxiety and Friendships

Circus Mirror Effect Social Anxiety and Friendships Social Anxiety Disorder Coping Print The Circus Mirror Effect: Social Anxiety and Friendships By Arlin Cuncic Arlin Cuncic, MA, is the author of Therapy in Focus: What to Expect from CBT for Social Anxiety Disorder and 7 Weeks to Reduce Anxiety. Learn about our editorial policy Arlin Cuncic Updated on March 23, 2018 Social Anxiety Disorder Overview Symptoms & Diagnosis Causes Treatment Living With In Children Colin Andersen/Getty Images Over a lifetime, most people have experienced looking at themselves in a fun-house mirror. Perhaps you looked really tall, really fat, maybe you were all zig-zaggy. But you knew that it was just an optical illusion and that when you stepped outside the fun-house, you were back to your normal self. What if that fun-house effect lasted 4 hours a day? What if you actually thought that was the way that you looked? A November 2014 study published in the Journal of Abnormal Psychology suggests that people with social anxiety disorder are stuck with those fun-house misperceptions 24 hours a day when it comes to how they view their friendships. The researchers were interested to examine perceptions of friendships both by people with social anxiety and their friends because we know that those with SAD tend to be biased in how they perceive situations. In other words, they tend to always view themselves in a negative light. They examined these issues among 77 people diagnosed with SAD, and 63 people from the community, and looked at both friendships in general, and specific friendships. Results of the study suggested that social anxiety disorder negatively affects self-perceptions of the quality of specific friendships, but that friends of people with SAD dont see the friendships in such a negative light. The effects of having SAD were most evident for younger people and those with shorter duration friendships. Were are there any differences reported by friends of people with SAD? Yes. They said they were less dominant in the friendship and less well-adjusted. Overall, these findings are consistent with what we know about SAD; it does affect friendships, but those with the disorder tend to blow those effects out of proportion. In other words, yes people think you are a little quiet and perhaps a little anxious, but they still enjoy having you as a friend! Digging a bit into some related research, we find that indeed these effects of SAD on friendships are supported. In another November 2014 study published in Anxiety Stress Coping, researchers found that among children aged 7 to 13 years, those with social anxiety disorder and their friends reported lower overall friendship quality than those with other types of anxiety disorders. In other words, while those with SAD may have blown-out-of-proportion negative perceptions of their friendships, there is indeed some unique impact of having SAD on these friendships, that doesnt occur with other types of anxiety. This makes sense, from the perspective that social anxiety is all about the fear of being around people! In a June 2014 study published in the Journal of Anxiety Disorders, researchers found that among children aged 7 to 12 years, children who gave a verbal presentation in an anxious manner versus a confident one were liked more when they acted confidently. However, this finding was significantly greater among those who did not have SAD than those who did. In other words, kids who were socially anxious were more understanding when other kids acted in an anxious manner, than were kids who didnt suffer from SAD. What does all of this mean if you experience social anxiety? Its possible other people like you more than you realize. However, you probably do have some impairments in your friendships that wouldnt be present if you had a different type of anxiety disorder. And, if you know other people with social anxiety, they probably understand you (and perhaps accept you) in a way that people without the disorder might not. Not to say that your friendships with non-anxious people arent good. In fact, they are probably much better than you realize. What can we do to improve friendships among people with SAD? In an August 2014 study published in Community Practice, a 12-week group intervention called FUN FRIENDS was shown to enable children aged 4 to 7 with symptoms of anxiety to become more self-sufficient, and in turn, develop greater emotional and social skills. From the FUN FRIENDS  website, the program helps kids to: normalize feelings of anxietylearn skills to cope with stress, challenges, and changeincrease emotional resilience and problem-solvingbuild friendships and support networksbuild confidence and self-esteem Through the program, children learn the importance of being a good friend to themselves (when they are feeling anxious) and how having friends can be of support when needed. The program is tailored for ages 4 to 16 and is delivered by teachers and other adult figures. If you have a child with social anxiety, you may wish to look into having this program implemented in your school. If you are an adult with social anxiety, you can use other strategies to work on the areas described above. For example, acceptance and commitment therapy may help you to normalize feelings of anxiety, while mindfulness meditation may help to increase your emotional resilience. When it comes to the importance of friendship and building social support networks, you may consider joining a support group specifically geared toward those with social anxiety. As described previously, those are the people are likely to be most understanding of the struggles that you face. The 7 Best Online Anxiety Support Groups

Circus Mirror Effect Social Anxiety and Friendships

Circus Mirror Effect Social Anxiety and Friendships Social Anxiety Disorder Coping Print The Circus Mirror Effect: Social Anxiety and Friendships By Arlin Cuncic Arlin Cuncic, MA, is the author of Therapy in Focus: What to Expect from CBT for Social Anxiety Disorder and 7 Weeks to Reduce Anxiety. Learn about our editorial policy Arlin Cuncic Updated on March 23, 2018 Social Anxiety Disorder Overview Symptoms & Diagnosis Causes Treatment Living With In Children Colin Andersen/Getty Images Over a lifetime, most people have experienced looking at themselves in a fun-house mirror. Perhaps you looked really tall, really fat, maybe you were all zig-zaggy. But you knew that it was just an optical illusion and that when you stepped outside the fun-house, you were back to your normal self. What if that fun-house effect lasted 4 hours a day? What if you actually thought that was the way that you looked? A November 2014 study published in the Journal of Abnormal Psychology suggests that people with social anxiety disorder are stuck with those fun-house misperceptions 24 hours a day when it comes to how they view their friendships. The researchers were interested to examine perceptions of friendships both by people with social anxiety and their friends because we know that those with SAD tend to be biased in how they perceive situations. In other words, they tend to always view themselves in a negative light. They examined these issues among 77 people diagnosed with SAD, and 63 people from the community, and looked at both friendships in general, and specific friendships. Results of the study suggested that social anxiety disorder negatively affects self-perceptions of the quality of specific friendships, but that friends of people with SAD dont see the friendships in such a negative light. The effects of having SAD were most evident for younger people and those with shorter duration friendships. Were are there any differences reported by friends of people with SAD? Yes. They said they were less dominant in the friendship and less well-adjusted. Overall, these findings are consistent with what we know about SAD; it does affect friendships, but those with the disorder tend to blow those effects out of proportion. In other words, yes people think you are a little quiet and perhaps a little anxious, but they still enjoy having you as a friend! Digging a bit into some related research, we find that indeed these effects of SAD on friendships are supported. In another November 2014 study published in Anxiety Stress Coping, researchers found that among children aged 7 to 13 years, those with social anxiety disorder and their friends reported lower overall friendship quality than those with other types of anxiety disorders. In other words, while those with SAD may have blown-out-of-proportion negative perceptions of their friendships, there is indeed some unique impact of having SAD on these friendships, that doesnt occur with other types of anxiety. This makes sense, from the perspective that social anxiety is all about the fear of being around people! In a June 2014 study published in the Journal of Anxiety Disorders, researchers found that among children aged 7 to 12 years, children who gave a verbal presentation in an anxious manner versus a confident one were liked more when they acted confidently. However, this finding was significantly greater among those who did not have SAD than those who did. In other words, kids who were socially anxious were more understanding when other kids acted in an anxious manner, than were kids who didnt suffer from SAD. What does all of this mean if you experience social anxiety? Its possible other people like you more than you realize. However, you probably do have some impairments in your friendships that wouldnt be present if you had a different type of anxiety disorder. And, if you know other people with social anxiety, they probably understand you (and perhaps accept you) in a way that people without the disorder might not. Not to say that your friendships with non-anxious people arent good. In fact, they are probably much better than you realize. What can we do to improve friendships among people with SAD? In an August 2014 study published in Community Practice, a 12-week group intervention called FUN FRIENDS was shown to enable children aged 4 to 7 with symptoms of anxiety to become more self-sufficient, and in turn, develop greater emotional and social skills. From the FUN FRIENDS  website, the program helps kids to: normalize feelings of anxietylearn skills to cope with stress, challenges, and changeincrease emotional resilience and problem-solvingbuild friendships and support networksbuild confidence and self-esteem Through the program, children learn the importance of being a good friend to themselves (when they are feeling anxious) and how having friends can be of support when needed. The program is tailored for ages 4 to 16 and is delivered by teachers and other adult figures. If you have a child with social anxiety, you may wish to look into having this program implemented in your school. If you are an adult with social anxiety, you can use other strategies to work on the areas described above. For example, acceptance and commitment therapy may help you to normalize feelings of anxiety, while mindfulness meditation may help to increase your emotional resilience. When it comes to the importance of friendship and building social support networks, you may consider joining a support group specifically geared toward those with social anxiety. As described previously, those are the people are likely to be most understanding of the struggles that you face. The 7 Best Online Anxiety Support Groups

Discrimination in the Criminal Justice System Essay

When you think of the criminal justice system, you think of justice being served to those who wish to threaten it. The criminal justice system is a very powerful system that protects our society but like society, it is not perfect. The justice system runs off of discrimination against race and gender It is believed that African Americans are the criminals, Caucasians are the victims, and women are too weak to even be in the system. Is this information accurate? I believe that crime should not be totally focused on minorities, although the media seems to portray it that way. There have been a lot of crime where a Caucasian was the mastermind and its workers who are African American get punished for those crimes. Society notices minorities†¦show more content†¦Criminals with no money, often minorities, cannot hire the lawyers needed to defend them so they will most likely be found guilty of the crime they committed. (http://www.law.umkc.edu/faculty/projects/ftrials/lapd/kingchronology.html) - summary Statistics have been made to show what races are linked to certain types of crime. The Uniform Crime Report has been made to show these types of information. However, these reports only show information about offenders that the crime was resulted in an arrest. This presents many issues because there are a lot of crimes committed that were not reported. Also, the UCR only shows crime reports linked to only four racial groups, Caucasian, African American, Native American, and Asian. There is also discrimination in the police force. According to Women and the Criminal Justice System, women are discriminated against when seeking a job in the police force (Wormer and Bartollas, 2007). Society and men who are already on the police force believes that women are too weak to carry out law and unable to capture criminals. This is an example of men being the dominant group over women. In society, women are known to be soft-hearted, loving, emotional and supportive. These characteristics make women look weak as a police officer. However, studies have shown that women are just as effective policeShow MoreRelatedDiscrimination And The Criminal Justice System1297 Words   |  6 PagesDiscrimination is a known concept that happens everywhere, yet police and prosecutors are blind to it. Their ways of preventing crime are discriminatory in every sense of the word and they categorize people based on their skin color and where they reside. The disproportionate minority contact w ith the stop and frisk method is one of the ways that discrimination can be seen. â€Å"Code of the Street† and â€Å"Law and Disorder in Philadelphia† help dissect why discrimination is not seen by police and theirRead MoreRacial Discrimination And The Criminal Justice System1725 Words   |  7 PagesRacial discrimination is defines as racism that implicates the credence in racial differences, which acts as a justification for non-equal treatment of members of that race. Also, this paper will be focusing on the race industry within the criminal justice system in all level law enforcement, courts and court system. Racial discrimination can be researched back in history its leading enablers take it as undisputable that the African American community has the highest number of incarceration ratesRead MoreRacial Discrimination And The Criminal Justice System1512 Words   |  7 PagesAlthough saying the criminal justice system is racist is a controversial statement, there is evidence and statistics that prove it to be true. Research and evidence validate the issue of racism to be undeniable. Equality and justice are out of reach with the racism that takes place in our criminal justice system and our country. Racial discrimination is prevalent amongst the African American culture in issues regarding drug use, and incarceration which creates unfair inequality for this race. I willRead MorePolice Discrimination And Disregard For The Criminal Justice System Essay1501 Words   |  7 PagesI believe that police discrimination and disregard for the Criminal Justice System is on the rise due to the fact the crime is on the rise and people wish to have an excuse to get away with it. One of the biggest cases of discrimination in the United States of America is discrimination against our police officers and our Criminal Justice System. In this paper, I hope to refute accusations against our officers and the criminal justice system and to call people to have a greater appreciation and supportiveRead MoreRacial Discrimination Within The Criminal Justice System1271 Words   |  6 PagesRacial discrimination is where an employer commits race discrimination when it makes job decisions based on race or when it adopts seemingly neutral job policies that disproportionately affect members of a particular race. Federal and most state laws prohibit workplace race discrimination. Title VII -- the federal law that prohibits racial discrimination of the U.S. Constitution and the Civil Rights Act of 1964 work in concert to ensure that each resident’s chances in the pursuit of happiness areRead MoreWhy Is Discrimination Within The United States Criminal Justice System1539 Words   |  7 PagesWhy is discrimination present in the United States criminal justice system? How is the system setup for people of color to fail? This social problem is interesting for many reasons. Many people believe that racism is still a key factor in today’s s ociety. The justice system, which should stand for equality and peace, in reality does spread the public’s beliefs of racism and an unfair justice system. 74.0% of blacks do not agree that the justice system treats people fairly and equally(Hurwitz andRead MoreCases And Labeling Theory : Case Analysis971 Words   |  4 Pagesagainst capital punishment which has pertained to an African American in the equal justice†(Baldus Study,2015). Another important case in our court system is the McCleskey v. Kemp. McCleskey was presumably charged with the murder of an officer in Kemp, which the cop was white and McCleskey was black. During this trail the court had argued that there has been observed to be discriminated in various cases throughout our system. Thanks to the evaluation of David Baldus in his study, we can see the positiveRead MoreDisparity and Discrimination Essay790 Words   |  4 PagesMany different situations occur within the criminal justice system. The situ ations that will be discussed in this essay are Pseudospeciation, bigotry vs. racism, hegemony, social construction, and disparity vs. discrimination. There will be definition on these terms. After defining the all terms, I will apply these terms to the criminal justice system using examples to illustrate the understanding of the definitions. Pseudospeciation Pseudospeciation begins with the fact that cultural differencesRead MoreRacial Inequality919 Words   |  4 Pagesdiscussed in the American criminal justice system. Although racial discrimination is present in the criminal justice system, some people use the words inequality, discrimination, racism, and profiling loosely and do not understand how truly complex it is to prove that there actually is racial inequality present in the criminal justice system. Daniel P Mears, Joshua C. Cochran, and Andrea M. Lindsey article Offending and Racial and Ethnic Disparities in Criminal Justice: A Conceptual Framework forRead More Is The Criminal Justice System Racially Biased? Essay1743 Words   |  7 Pages Is the Criminal Justice System Racially Biased? Most criminologist use two sources of criminal justice data in the United States: the Uniform Crime Reports (UCR) and the National Crime Victimization Surveys (NCVS). The URC data is made from law enforcement agencies and include crime incidents reported to or obtained by the police. NCVS data is obtained from a very complex national survey of a sample of homes and provide information about crime incidents and victims for both reported and unreported

Market Structure And Competition In The Banking Sector Finance Essay - Free Essay Example

Sample details Pages: 10 Words: 3090 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? The rapid economic convergence of Spain in the European Union in the last decade has been mirrored by an equally rapid expansion of its banking industry the Spanish banking sectors total assets over GDP expanded from 70 to 80 percent of the EU average. At the end of 2007, total assets held by the banking sector amounted to 280 percent of GDP; 110 percentage points higher than in 1997. Don’t waste time! Our writers will create an original "Market Structure And Competition In The Banking Sector Finance Essay" essay for you Create order The Spanish banking sector comprises four types of institutions: (Bank of Spain, data available at 13 April 2010) ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Commercial banks 154 entities, accounting for 54 percent of total credit institutions assets, of which 53 are Spanish-owned, 17 are subsidiaries and 80 are branches of foreign institutions. Domestic banks are generally market-traded entities mostly engaged in retail banking; ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Savings banks (Cajas) -46 entities, with a market share of 40 percent. They are not for profit foundations with strong local government and/or autonomous communities participation. They are not listed or traded in the stock market. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Cooperative banks 83 entities, with a market share of 4 percent. They are organized under the umbrella of Banco Cooperativo Espaol. They provide services based on membership, but can also offer some financial services to third parties as do other credit institutions. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Specialized credit institutions (SCIs) 69 entitites, with a market share of 2 percent. Although carrying out most of the activities of credit institutions, they are prohibited from receiving repayable funds from the public in the form of deposits, loans, temporary assignment of financial assets, or other comparable instruments. Mergers of savings banks, or cajas, are subject to respective regional governments approval. Cajas cannot be purchased by private individuals or institutions due to their legal nature, but they can acquire other companies and credit institutions. Nevertheless, cajas assets and branches can be purchased by individuals, private companies and commercial banks. For more details, see FSAP (2006) Technical Note on Regulation, Supervision, and Governance of Spanish Cajas, (IMF Country Report No. 06/215). September 2010 European central bank Market structure indicators, such as the Herfindahl Index or the share of total assets of the five largest institutions, indicate that the d concentration in Spain, albeit increasing, has remained one of the lowest in the EU (Table ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦.). A number of studies have investigated banking competition in Spain and results tend to indicate that, on average, banking competition in Spain is intense, including in comparison with that in peer countries. 51. Alongside commercial banks, savings banks have been a major force in extending services and in fostering competition. Since reforms in late 1970s, savings banks have gradually reduced their regional specificity and expanded their range of activities.53 Many medium-sized savings banks have strengthened their national presence becoming solid competitors to commercial banks. Their market share has steadily increased from 35 percent in 1999 to 40 percent in 2007. 52. With the exception of the two largest players, the Spanish banking system remains essentially domestic (Table 3). After building up franchises in Latin America, Santander and BBVA have expanded in other markets as well. Santander is now a significant player in the U.K. (Abbey National PLC and Alliance Leicester PLC),54 in pan-European consumer finance, and a smaller participant in the US (Sovereign Bank). BBVA has a non-negligible presence in the U.S., mainly through Compass Bankshare. Foreign activities are estimated to account for nearly half of both institutions earnings in 2008. Other banks have small subsidiaries outside Spain, such as Banco Popular (Portugal and Florida), Caja Madrid (Mexico), and Banco de Sabadell S.A. (Mexico and Florida), while La Caixa (caja from Catalonia) has expanded internationally with acquisitions of Mexicos Grupo Financiero Inbursa and Hong-Kong based Bank of East Asia. B. Main Trends 53. Convergence associated with EMU entry spurred a credit boom that abruptly ended with the outbreak of the global financial crisis in mid-2007. Interest rate convergence, both in anticipation of and since EMU membership, fueled domestic credit growth (Figure 4). Over the period 1997-2007, credit to the non-financial private sector has increased at an average of 17 percent; about two-and-half times nominal GDP growth. 54. Credit expansion was especially pronounced in the construction and real estate market. Bank activity has gradually shifted away from interbank lending and lending to the government and the manufacturing sector, to financing construction and real estate activities (Figure 5). As of end-June 2008 exposure to real estate financing amounted to 60 percent of total credit to the nonfinancial private sector, compared to 40 percent in 1997. While savings banks have the highest exposure, commercial banks are those that most significantly reoriented their domestic activity. Increased competition for lending to real estate developers has led some institutions to take on added risks by forming joint ventures with real estate developers-banks granting loans and sometimes taking an equity stake. It is estimated that this type of lending exceeds the equivalent of 5 percent of Tier 1 capital on average, and can reach as high as 80 percent of Tier 1 in specific cases.55 53 As part of the deregulation process, savings banks were allowed to carry out universal banking activities starting in 1977. 54 Amid the U.K. banking crisis, Santander also bought the branches and deposits of Bradford Bingley. 39 55. Since growth in customer deposits has not kept pace with domestic credit expansion, banks have increasingly tapped international capital markets. Between 1997 and end-2007, domestic deposits grew at an average rate of 12 percent, thus financing only part of the credit expansion of 17 percent. As a result, the loan-to-deposit ratio climbed well above the Euro-area average. Securitization facilitated access by credit institutions to foreign savings (Figure 6). Credit institutions have established securitization funds, which in turn have issued their own securitization bonds, mainly covered mortgage bonds (cdulas hipotecarias, CH). Given the soundness of the issuer, the quality and size of the mortgage portfolio, and the level of over-collateralization, resulting from sound regulation, these securities were attractive to foreign investors.56 Outstanding balances of Spanish 55 Moodys April 2008. 56 The new Mortgage Law (Law 41/2007) further strengthens the regulatory framework of CH; in particular: (1) it creates a special register for all mortgage loans and credits forming the collateral; (2) it reduces the loan-to-value ratio for commercial mortgage loans from 70 to 60 percent while keeping the one for housing loans at 80 percent (both ceilings may rise respectively to 80 and 95 percent if there are appropriate and sufficient additional guarantees); (3) it increases the minimum legally required over-collateralization from 11 to 25 percent; and (4) it provides for the possibility of including specific liquid and low-risk assets in the pool of collateral underlying the CH issue (up to 5 percent). from ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬18 billion (3 percent of GDP) in 2000 to ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬350 billion (33 percent of GDP) in 2007.57 Spanish CHs currently represent the second biggest Jumbo segment in European covered bonds after the German pfandbriefe.58 56. In recent years, the Spanish banking industry has enjoyed significantly higher profitability than EU peers, despite lower leverage (Figure 7). While high volumes of intermediation have contributed to this result, higher trading and fee income as well as enduring cuts in operating costs have been important drivers. 57 It is important to note that the Bank of Spain has adopted stringent criteria regarding risk transfer and control of special purpose entities. Both steps have reduced drastically the incentives for off-balance sheet securitization and the resulting capital relief opportunities. 58 Jumbo issues amount to at least a billion euros. 57. To gauge the contribution of different factors, an algebraic breakdown of banks return on equity (ROE) has been undertaken (Box 2, Figure 8). The results indicate that while savings banks financial strength (net income over net operating income) has remained broadly unchanged, commercial banks and cooperatives have experienced some decline in this indicator in the last years, mainly reflecting provisioning expenses and write-downs. In the case of commercial banks, this development has been partially compensated by continuous improvements in cost efficiency whereas savings banks and cooperatives have witnessed some increase in the burden of their administrative expenses, consistent with the expansion of their branch networks. While increasing leverage ratios may have weighed on credit institutions vulnerability to shocks, improving (or undiminished) risk-adjusted asset productivity, more prudent risk strategies (as indicated by declining risk-weighted to total the impact of the ongoing global financial turmoil 59. The outbreak of the financial crisis in summer 2007 has severely affected the operating model of the Spanish banks. With wholesale funding drying up, Spanish banks have started restructuring their balance sheets. On the asset side, credit institutions have slowed lending growth and tightened credit standards. On the liability side, they have tapped more extensively ECB refinancing facilities by doubling access from ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬22 billion in the pre-crisis period to ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬49 billion recently. Since other banking systems also expanded their recourse to the ECB, Spain access has remained broadly in line with that of Euro-area total assets (Figure 11). Banks have also competed fiercely for customer deposits, largely at the cost of redemptions from mutual funds. 60. Banks operating environment has deteriorated more rapidly and severely than expected. Given their retail-oriented nature, Spanish banks have not been directly affected by the US subprime crisis and its ramifications.60 Nevertheless, they have to face with the bleak economic situation. Domestic economic slowdown and banks deleveraging have been mutually reinforcing. Households and the corporate sector are highly indebted. Unemployment is rising. The housing market is rapidly cooling off. The corporate sector is facing increasing cash-flow and liquidity problems. Several large real estate developers have filed for bankruptcy. Against this environment, NPLs have increased rapidly but from a very 60 Spanish banks total direct gross exposure to Lehman was estimated at US$700 million, with BBVA having the largest exposure with US$100 million. However, both Santander and BBVA were caught off guard by the Madoff fraud scandal. While Santanders direct exposure was reportedly minimal (ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬17 million), Santanders clients who invested in the banks Optimal Strategic hedge fund, had an exposure of ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬2.3 billion. BBVA reported ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 300 million losses from its activities related to Madoff Investment Securities. low base.61 Loans to the construction and real estate sectors have witnessed the most marked deterioration (Figure 12). As a result, savings banks have been most affected owing to their large exposure to the real estate sector. While banks provisions are still at a comfortable level, the extra cushion provided by dynamic provisioning is falling rapidly. 61. As a consequence, and despite broadly positive results in 2008, market sentiment on Spanish banks has turned mixed. While Santander and BBVA continued to record high net income in line with market expectations, their stock prices have declined significantly, reflecting generalized market risk aversion and in anticipation of very difficult market conditions yet to come (Figure 13). When the financial turmoil heightened in the autumn, their CDS spreads trended above those of (retail) peers (investment banks fared much worse), 61 As of end-2007, NPLs amounted to less than 1 percent of total loans; half of the EU average. mainly owing to the sharp deterioration in the Spanish economic outlook and their large exposures to emerging markets, especially in Latin America. Since then, however, CDS spreads have returned in line with those of retail peers, in part helped by the two institutions successful market-based capital increases.62 Small banks and savings banks have been 62. Like other European countries, the Spanish government has taken a number of exceptional measures to shore up confidence in the financial system (Box 3). As part of the package, the Spanish government established a ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬30 billion fund (which may be raised to ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬50 billion)-Fondo para la Adquisicin de Activos Financieros (FAAF)-to provide liquidity to the banking sector by purchasing, on an outright or temporary basis, high quality bank liabilities (asset-backed securities with 3-5 year maturity). Box 3. Spanish Government Assistance to Banks Following the common framework agreed by euro-area countries, the Spanish government has taken the following exceptional measures: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ The limit of the deposit guarantee was raised from ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 20,000 to ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 100,000.1/ ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ A ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 30 billion fund (which may be raised to ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 50 billion) was established to purchase high quality asset-backed securities issued by credit institutions: the FAAF.2/ The operations can take the form of outright purchases or long-term swap operations (12 months or longer). Asset eligibility is slightly different in the two cases. In particular, outright purchases can be carried out for CHs and securities backed by CHs issued before October 10, 2008, traded (or in the process of being traded) in a regulated market, carrying a triple-A rating, and with a maturity no longer than the one specified in the auction. In the case of swap operations eligible assets comprise CHs and securities backed by CHs, or credit to individuals or non-financial companies and institutions provided that these securities have been issued after August 1, 2007, meet the ECBs eligibility requirements, and carry at least a rating of double-A. The FAAF consists of two separate portfolios; one for each type of operations. To safeguard a sufficient diversification, the FAAF cannot allocate more than 10 percent of its resources in each portfolio to a single entity. The FAAFs operations are conducted through an American-Type Auction; a fraction may also be allocated through non-competitive auctions. In each auction, individual allotments cannot exceed the lowest between the above-mentioned 10 percent limit of FAAFs portfolio and the result of the product between 2.5 times a credit institutions share in total credit to the domestic non-financial private sector and the amount offered. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Government guarantee may be provided for credit institutions new debt issues. The amount of the scheme approved in 2008 is ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 100 billion to be used by mid-December 2009.3/ A possible additional ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 100 billion might be allotted in 2009 if market conditions do not improve. As agreed within the EU, the pricing depends on debt maturity, CDS spreads, and rating of the originators: Table 4. Spain: Pricing of the Government Guarantee Maturity Commission Fee Less or equal to 1 year Flat fee of 50 bp. Greater than 1 year Flat fee of 50 bp plus: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ For beneficiary institutions with CDS data; the lowest between: 1) the median of the 5 year CDS spreads calculated over the period January 1,2007 August 31, 2008; 2) 36.5 bp for institutions with AA rating; 3) 44.8 bp for institutions with A rating. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ For beneficiary institutions without CDS data, or without representative CDS data, but with a credit rating: 1) 36.5 bp for institutions with AA rating; 2) 44.8 bp for institutions with A rating. For beneficiary institutions that are not comprised in the previous two categories, 44.8 bp plus a supplementary annual fee of 10 bp. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ If necessary, credit institutions re-capitalization may be carried out through the governments acquisition of non-diluting instruments such as preference shares.3/ - 1/ Royal Decree 1642/2008, October 10, 2008. 2/ Royal Decree Law 6/2008, October 10, 2008. 3/ Royal Decree Law 7/2008, October 13, 2008. The impact of the credit system The real estate crisis has had an inevitable impact on the banking system. At the end of 2009, loans to this sector were classified as a bad debt of 9.6% of loans (ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 43 billion), but still far from a high incidence reached 13% in 1993. A special investigation by the Central Bank, however, stressed that to have a complete picture of the situation must also add to the suffering of ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 59 billion of other loans uncertain recovery, ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 60 billion of real estate acquired by banks in payment for loans in the past and ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 4 billion of loans already written off entirely (write-offs). In short, the downturn in the property sector is thus weigh on the banking sector to ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 165 billion, 37% of total loans to this sector. Although this is a significant amount, it should not result in system-wide problems of stability since the specific provisions cove ring these loans to 26%, rising to 35% if you add the general provisions available. The Bank of Spain also estimated that the overall coverage may be increased to 70% if the operating income in 2010 was only equal to that of the previous year. With the exception of finance companies in the real estate sector (about 18% of the loan portfolio), the quality of the portfolio of Spanish banks as a whole appears reasonable given the severity of the economic situation. A crisis manageable According to the research department of BNL, the situation of Spanish banks is attracting too much attention, perhaps especially when compared with the weakness shown by other European banking systems, such as is the case of Germany. Despite an increase of 65% of provisions, the Spanish banking system ended 2009 with net profits (nearly ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 20 billion) in limited flexion (-20%), achieving a non-marginal increase of the two main indicators patrimonalizzazione (tier 1 to 9.7% an increase of 1.3 percentage points to 8.1% core tier 1 an increase of 1 percentage point). Detail is not secondary, the increase of these two reports is due entirely to increase the number (net worth +13%) compared to a denominator (risk-weighted assets) remains unchanged. Even the effect of this increase, ROE (Return on Equity) fell by almost three percentage points, ranking still 9%, the highest level in Europe (3.6% in the case of Italy). crisi edilizia Le ripercussioni sul sistema creditizio La crisi del settore immobiliare ha avuto un inevitabile impatto sul sistema creditizio. A fine 2009 i prestiti a questo settore classificati in sofferenza risultavano pari al 9,6% dei prestiti erogati (ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 43 mld), unincidenza elevata ma comunque lontana dal 13% toccato nel 1993. Una apposita indagine della Banca Centrale, tuttavia, ha messo in rilievo che per avere una completa rappresentazione della situazione bisogna aggiungere alle sofferenze anche ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 59 mld di altri prestiti di incerto recupero, ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 60 mld di propriet immobiliari acquisite dalle banche in pagamento per prestiti concessi in passato e ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 4 mld di prestiti gi interamente svalutati (write-offs). In definitiva, la sfavorevole congiuntura del settore immobiliare risulta cos pesare sul settore bancario per ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 165 mld, il 37% del totale dei finanziamenti a questo settore. S eppure si tratti di un importo rilevante, non ne dovrebbero derivare a livello di sistema problemi di stabilit considerato che gli accantonamenti specifici coprono questi prestiti al 26%, percentuale che sale al 35% se si aggiungono gli accantonamenti generici a disposizione. La Banca di Spagna, inoltre, calcola che la copertura complessiva potrebbe essere portata al 70% se nel 2010 il risultato operativo fosse solo pari a quello dellanno precedente. Se si escludono i finanziamenti alle societ del settore immobiliare (il 18% circa del portafoglio prestiti), la qualit del portafoglio delle banche spagnole appare nel complesso discreta considerata la gravit dellattuale congiuntura economica. Una crisi gestibile Secondo lufficio studi di Bnl la situazione delle banche spagnole sta attirando unattenzione forse eccessiva soprattutto se confrontata con la fragilit evidenziata da altri sistemi bancari europei, come ad esempio il caso della Germania. Malgrado una crescita del 65% degli accantonamenti, il sistema bancario spagnolo ha chiuso il 2009 con un utile netto (quasi ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 20 mld) in limitata flessione (-20%), conseguendo anche un aumento non marginale dei due principali indicatori di patrimonalizzazione (tier 1 al 9,7% in aumento di 1,3 punti percentuali e core tier 1 a 8,1% in aumento di 1 punto percentuale). Dettaglio non secondario, laumento di questi due rapporti dovuto interamente allaumento del numeratore (risorse patrimoniali +13%) a fronte di un denominatore (attivit ponderate per il rischio) rimasto sostanzialmente invariato. Anche per effetto di questo incremento, il RoE (Return on Equity) sceso di quasi tre punti percentuali, posizionandosi comunque al 9%, livello tra i pi alti in Europa (3,6% nel caso dellItalia).

Exploring Young People s Literacy Practices Across...

Ecologies of Transmedia Use: Exploring Young People’s Literacy Practices across Corporate and User-Produced Platforms Abstract In this article we explore young people’s literacy practices as embedded in ecologies of multimodal and transmedia use. Unlike approaches grounded in distinct online locations, such as affinity spaces, specific websites, particular video games, or other media platforms, a focus on transmedia ecologies encourages us to look beyond spatial and structural boundaries to understand how flows of corporate and user-produced artefacts can shape, constrain, and expand young people’s literate repertoires. Introduction (Contemporary Transmedia Contexts) In the turn away from viewing literacy as a purely cognitive†¦show more content†¦An ecological perspective asks us to consider a variety of learning contexts, comprised of activities, resources, relationships, and interactions among these (see. Barron, 2006). A focus on interactions between modes, activities, resources, and relationships allows us to stay attuned to the moving parts of literate development without losing context. Consider the lone gamer who, while tapping away at her controller, is simultaneously chatting with other gamers on the same platform, using printed commercial game guides to select gear, consulting player-produced walkthroughs on Youtube, posting live updates on her progress through a level of the game, and writing fan fiction based on her avatar’s exploits. Rather than viewing the aforementioned gamer’s practices as grounded in a particular context (e.g., a living room or a video game or an affinity space), focused on a particular activity (e.g., writing or watching a video), ortied to a particular modality (e.g., print, digital), it is possible to conceptualize such practices as part of a transmedia ecology in which participation in literate practice is distributed across time, space, and media platform, and coheres around a particular storyworld. A traditional storyworld is a fictional universe with invented characters, settings, and characteristics that has been