Chapter 1 Apush Notes [Americas History] - 2669 Words

Chapter 1: The New Global World Intro Before the French Natchez people complained that French treated them like slaves Before 1490s Natchez only knew their people 1502: Nicolas de Ovando replaced Columbus as governor of Hispanola His fleet of ships carried Span adventurers/African slaves which created triracial societies 1949-- Columbus unleashed 200 troops w/ 20 on horseback to terrorize the natives b/c he was upset he couldnt govern Also released greyhounds to rip indians to pieces French killed hundreds of Natchez and sold survivors into slavery-- forced to work on sugar plantations The Native American Experience The First Americans 1st movement-- Migrants from Asia crossed 100 mile wide land bridge that connected†¦show more content†¦eritance developed among some eastern Indian peoples Men did not consider wives family No intimacy Religious rituals were centered on the agricultural cycle Tradition-Bound Europe European Peasant Society 1450- most people peasants Lived in small,compact agricultural villages surrounded by open fields Fields were divided inconveniently--cooperative farming Community chooses what crops will be grown Manorial lands Land in exchange for weekly work on a lord’s land--serfdom Used labor in exchange for rent/land Peasant output produced surpluses and created a local market economy The Peasantry Life according to season Agricultural year starts in March Spring: men shave wool--women spin it into yarn June: cut hay and store it for winter food for livestock Summer: easy going Winter: killed extra livestock and smoked/salted meat Cold months: Wove textiles Visited old friends Celebrated winter solstice/christmas More successful conceptions in early summer Rural people die: in January/February --viral disease August/September in epidemics of fly-borne dysentery The Peasants Fate Most peasant-- labor = survival Babies called greedy Girls were not fed as much as boys 1/2 of all peasant children were dead before 21 Malnourishment and disease Without many basic necessities of life the peasants turned to prayer Hierarchy and Authority Princes/Kings: Owned vast tracts of land Forced men into military Lived off of peasantry labor Local nobles:

Sample Last Will and Testament Including Spendthrift...

LAST WILL AND TESTAMENT OF EMMY H. JOHNSON I, EMMY H. JOHNSON, of Columbus, County of Franklin, state of Ohio, make this my Last Will and Testament, hereby revoking all earlier wills and codicils. ARTICLE I I direct that all of my funeral expenses and the cost of the administration of my estate be paid out of my residuary estate as soon as practicable after my death. ARTICLE II I give, devise, and bequeath one million two hundred and fifty thousand dollars ($1,250,000) in government issued bonds to my niece, SUSAN B. JOHNSON, if she is living on the thirtieth day after my death. ARTICLE III If my niece, SUSAN B. JOHNSON, is not living on the thirtieth day after my death, I give and devise her share of my estate,†¦show more content†¦No interest of the beneficiary under the trust shall be subject to the claims of creditors or other persons, nor to any bankruptcy proceeding, nor to any other liabilities or obligations of the beneficiary. ARTICLE VII If my nephew, THOMAS G. JOHNSON, is not living on the thirtieth day after my death, I give and devise his share of my estate, to his issues in equal shares per stirpes. ARTICLE VIII I nominate and appoint my attorney, ROBERT J. SCHELL, as executor of this will. If he shall fail to qualify or cease to serve, I nominate and appoint my brother, RALPH P. JOHNSON, to serve as executor in his place. ARTICLE IX I direct that any executor be exempt from giving surety on his or her official bond. I, the undersigned testator, do hereby declare that I sign and execute this instrument as my last will, that I sign it willingly in the presence of each of said witnesses, and that I execute it as my free and voluntary act for the purposes herein expressed, this 17th day of June, 2013. /s/_Emmy H. Johnson______ Emmy H. Johnson We, the undersigned witnesses, each do hereby declare in the presence of the aforesaid testator that the testator signed and executed this instrument as her last will in the presence of eachShow MoreRelatedIgbo Dictionary129408 Words   |  518 Pagesthey will find this edition at least slightly less faulty. I am very grateful to Dr (now Professor) E.N. Emenanjá » , Mr (now Dr) P.A. Anagbogu, and to Miss Helen Joe Okeke and Miss Ifeoma Okoye, students of Alvan Ikoku College of Education, Owerri, for last-minute [sic] help on the grammatical section of the introduction; and to the late Mr A.E. Ahunanya, Mrs Dorothy Njoku, and Miss Mercy Harry for their care over the typing. Kay Williamson Port Harcourt December, 1983 iii Igbo Dictionary: KayWilliamson

Private Prisons free essay sample

The concept of the prison has existed for more than two thousand years. It probably goes back as far in time as practice of cannibalism, where victims had to wait for their turn in contributing to the chief course in the menu of their captors. Examples of prisons can even be found in the Old Testament when Joseph was incarcerated in Egypt. It was not until the 19th century that a clear shift occurred from corporal punishment to imprisonment. As societies prospered and the industrial revolution began, the formal prison system, as we know it today, developed. Throughout most of the world, the correctional system is administered by the state, and it is considered a key function that the government must fulfill: protect its citizens by guaranteeing the state of law while enforcing the judicial system. More than two decades ago, the United Sates and Great Britain began experimenting with privatization of their prison systems, outsourcing the management to private enterprises. Like most privatization issues, this topic has many supporters from the liberal economic philosophy, as well as many detractors that argue against profit seeking enterprises. The discussion promotes themes such as the ethical dilemma of the private sector â€Å"administering punishment†, selecting the correct metrics used to evaluate the performance of private sector versus public sector, disputes of what are â€Å"just and fair† services that the inmates are entitled to, among others. In the following essay we aim to bring these topics into light and try to analyze the pros and cons of privatizing the prison system. Private prisons are one of the fastest growing industries in the security and protection industry. Up until 2003, there were an estimated of 102 private prisons in the U. S. holding more than 100,000 inmates. As of 2008, there were 128,524 inmates held in private prisons, representing 8% of the total 1,610,466 inmates held in all state and federal prisons. Many researchers and academics have argued that although the United States has only 5% of the world’s population, it holds 25% of the world’s prison population. Is this trend directly correlated to the use and promotion of a private prison system? The U. S. as half a million more inmates than China, even though China’s population is five times the size of the US population. Some reasons of China having a lower imprisonment rate can be linked to a lack of reliable statistics (government controlled information), Chinese law/ judicial system are very different to that of the United States and the investment in infrastructure the US has to detect crime. According to the California Prison Focus, â€Å"no other society in human history has imprisoned so many of its own citizens. † What incentive does the government have to privatize prisons, or encourage public/private alliances? In a time of fiscal constraints, governments have used public/private partnerships in order to provide services that had been formerly delivered by the state. However, although private participation may have been seen as a solution to avoid public failures (i. e. the privatization if highways, garbage /waste management collection, telephone/cellular lines), results can vary according to the sector raising questions concerned with the efficiency of the alliance. The Reagan administration exploited the momentum for privatization and deregulation, giving rise to Corrections Corporation of America (CCA). Among the incentives the government has for prison privatization is their desperate need to cut budget deficits. For privatization to be economically feasible, the cost/benefit analysis must be positive and provide savings to the government. Likewise, the outright inflow of cash coming in from selling a prison can be very important for local state administrations. According to the disclosure provided by the Ohio Department of Rehabilitation and Correction, the reason of why they recently sold one of their prisons for $75 million is to â€Å"improve staff and inmate safety, reduce daily operating expenses and to reduce the states long-term budget† Although the prison privatization topic has generated many controversies and has important lobbying groups behind it, there are few reliable studies comparing privately and publicly operated facilities. Segal and Moore (2002) identified about 23 U. S. cost comparison studies and fewer quality studies. Many of those studies were of questionable value because they did not comply with specific characteristics of meta-analysis (did not have explicit comparison of private and public facilities, the study was based on citations of other studies, few recognizable databases, among others). The most recent review, a meta-analysis by Lundahl et. al. (2009) only identified 12 studies of cost and quality meeting their criteria for sound methodology†. According to Alex Tabarrok, privately managed facilities can have cost savings of 15-25% on prison edification and 15% on administrative expenses. Likewise, private prisons generate competition and exert pressure towards public prisons. They encourage public prisons to also innovate and lower costs. Other studies (Lundahl et al. 2009, page 392) argue, â€Å"prison privatization provides neither a clear advantage nor disadvantage compared with publicly managed prisons. † The economic nature of private corporations is to be profit-seeking agents whose sole focus is to maximize shareholder value. This is a fair reason and a reason that will always exist. Detractors of privatization and free market systems, argue that the only way to achieve profit maximization is at the expense of third parties (zero sum game) and stress that corporations do this by lowering service quality and reducing personnel. In the example of prison privatization, following this â€Å"linear† thinking of profit maximization equaling low quality service and thus suboptimal conditions for inmates, generates arguments relating to negative externalities. Corporations such as CCA argue that they can systematically reduce operating expenses while minimizing externalities and social costs. According to the Ohio State Department of Rehabilitation and Corrections, the sale and outsourcing of the Lake Erie prison will cost the state 6% annually less to run amounting to a savings of $3 million per year. CCA has gone on the record saying that it will keep over 90% of the existing jobs in Ohio. As mentioned earlier, a lack of reliable information challenging these assertions of measurable cost reductions is a major concern to elected officials. On February 14th the state of Florida, also desperate to cut its budget deficit, held a controversial vote to privatize state prisons. Ultimately, Republicans rejected the bill in a tight 21-19 vote, dividing the caucus. Those voting against privatization sighted a lack of transparency on the forecasted budget savings. While we believe that many government services would be better of if privatized, the incentives and processes regarding prison privatization must be explored further. Actual evidence demonstrates that the actual privatization process has generated perverse incentives and powerful forces in Washington advocating for special favors. The end result has been a perverse mercantilism. This can clearly be seen by a report investigating the top five interest groups lobbying to keep marijuana illegal. Private prison corporations make millions by incarcerating people who have been imprisoned for drug crimes, including marijuana. Likewise, CCA has sent letters to more than 48 states asking for a â€Å"20 year management contract plus an assurance that the prison would remain at least 90% full† and have advocated for direct incarceration of illegal immigrants. To reduce the negative externalities and obscure process that surround prison privatization, serious steps must be taken in order to align incentives. Why are prisons being paid on the quantity if inmates instead of being paid on how many inmates they can re-incorporate to society? The best example can be found in the Delancey Street Foundation and as stated in their web site, â€Å"we take applications from people who have hit bottom, from prison, jail or walk-ins. Residents who have been at Delancey Street awhile interview all applicants. The minimum stay is 2 years; the average stay is 4 years. We have 3 rules: no drugs or alcohol, no physical violence, and no threats of violence. The goal is to learn to lead a productive crime-free, drug-free life of purpose and integrity. Everyone learns a marketable skill (the goal is 3 skills), and earns at least a high school equivalency degree. Advanced education is available. † Moreover specific KPI’s must be developed to â€Å"rate† the performance of private prisons accompanied with in depth studies regarding state savings by not incurring in prison management. Certain benchmarks must be achieved by every concessionary in aspects concerning security levels, staff training, among others. These standards can be revised by benchmarking against other private prisons operated in other countries. Additionally, many people argue in favor of prisoner’s living standards and rights concluding that privatization will worsen them. Why is it that society is overprotecting individuals, which have committed a serious crime, and therefore deserve â€Å"high standards† while in prison? On average, an inmate costs $50,000 per year. The majority of these criminals don’t even make that amount of money a year; hence they might be better off living in prison. For those advocates that in general think public prisons are much more favorable than private prison, they should take a look at our exhibit of the public prison system in El Salvador and Honduras (please see exhibit). Inmates are human beings and should be treated with dignity and have access to basic necessities (food, water, shelter) and should not be deprived of their right if they are respecting their fellow constituents. Most importantly, they should be given the necessary conditions to re-evaluate their behavior and to experience what it means of not having their liberty. We advocate that proper rehabilitation of prisoners tends to lower overall social costs, as convicts will be less likely to repeat offense. While it logically makes sense for a state to rehabilitate prisoners to the best of their ability, the opposite can be true in the privatized system if the incentives are not properly aligned. Firstly, proper counseling and rehabilitation costs money, and corporations whose sole incentive is to maximize shareholder value vehemently oppose â€Å"unnecessary† increases in operating costs. The second reason is the perverse irony behind privatized prisons: they need customers. In the case of the sale of the Lake Erie prison in Ohio, the state had agreed to provide CCA a guaranteed minimum occupation rate of 90%. Lastly, if investors are not incentivized accordingly, they will tend to have a narrower view on the global problem, excluding the cost of negative externalities (without proper rehabilitation, inmates will repeat offence, triggering additional cost for public and private entities. ) In the current political and austere environment, few politicians would risk their fate by opening up the discourse that crime prevention and more lenient laws are a solution to lower costs. Having a â€Å"tough† approach on prevention can be even better than being stern with crime. New York cut its incarceration rate by 15% between 1997 and 2007, while reducing violent crime by 40%. By evaluating the behavior and development of other privatized services (i. e education, transportation, highways, garbage removal, among others) prison privatization can take their operating framework as a general base. Communities and consumers evaluate the services of educational institutions, garbage removal companies and healthcare facilities. Based on the consumer preference, the most efficient companies remain in operation. Why not do the same for private prisons? Let the state, independent parties (associations) and the final customers (inmates) evaluate the performance of the privatized system. For this to function well, exploitation of contracts cannot simply be given for 20 years without a â€Å"call option†. Private firms interested in providing services must be fully aware that if they don’t comply with the required standards and rank low in evaluation criteria can have their contracted removed with sufficient penalties for the transition period. As discussed earlier, an important percentage of the compensation given by the state to the private concessionary should be linked to performance. One of the key metrics that must be included is the rehabilitation and re-insertion rate of inmates to society (logically this inmates must not have been sentenced for â€Å"life† in prison and must not have committed high grade crimes). This will generate an incentive for private companies to make strategic alliances (private prisons with rehabilitation centers, educational institutes, voluntary programs, firms like Delancey Street among others). Independent institutions (universities, associations and think tanks) should constantly monitor and evaluate the cost-benefit of having privatized prisons in certain areas. There can be situations were government run prisons will be economically more viable than private ones. As in any topic involving the co-participation of government and private firms, public choice issues arise and must be carefully considered. Further extending the reasoning by considering different Social investing/entrepreneurial initiatives in the world, creative solutions focusing on social impact could be applied to the private prison system. Considering that most of the inmates are idle, designing social impact programs to foster inclusion and additional revenue streams for government administered prisons can be beneficial. This could be favorable for multiple stakeholders in the prison sector: public authorities reduce costs by having additional income, crime rate reduction with higher prevention (protagonists for preventive message are the prisoners themselves) and a better rehabilitation in society (prisoners learn skills, values†¦). On the other hand, private investors are enticed to follow â€Å"social measuring† inside prisons (this social actions would be audited and closely followed). Finally the prisoners are dissuaded to commit new offences. As an example, the company Heavy Eco operating in the United Kingdom believes that the reason why people go to jail lies in their childhood. In order to help the situation, as well as paying the convicts for their work, Heavy Eco empowers prisoners to create organic T-Shirts and bags from recycled materials (50% of the profits go to help homeless and orphanage children) . In Philippines, another initiative grew also around fashion made by prisoners. It is proven that the severity (harshness) of the punishment is not directly correlated with crime reduction. Law and penalty enforcement, on the other hand, does have a direct impact in crime reduction. With this in mind, it is not how â€Å"strong† or â€Å"severe† the conditions are inside a prison but instead that all of the inmates and future convicts know that if an offense is committed the law will be enforced upon them. Societies don’t prosper with high imprisonment rates, they proposer under good rule of law and productive citizens.

Western Art Exhibition Critique Essay Example

Western Art Exhibition Critique Essay The show Renoir in the 20th Century is a group art exhibit of the French artist Pierre-Auguste Renoir and his friends, held at the Los Angeles County Museum of Art (LACMA), exhibiting from February 14 to May 9, 2010. The paintings on exhibit are the works Renoir finished in the last 30 years of his life, included in the 6,000 art pieces he finished throughout his entire career.   The gallery literature lists his displayed work as decorative, classical, and a highly personal interpretation of the Grand Tradition. The artists that Renoir influenced throughout his life and are also on display at the LACMA with their paintings, drawings and sculptures are Picasso, Matisse, Maillol and Bonnard.   The art works in the public display by Renoir consist of women, children and family members with only a few self-portraits. No landscape or still life is evident in this show, as in his earlier Impressionism shows.   But what makes it important is that the art work is good, as compared to years of negative art reviews by critics, who have turned their backs on this notable artist in his later years. Painting until he died in 1919, Renoir was an unpretentious and very humble artist, even though he always wanted to be the best at what he did. He had become well-established during the Impressionism years because of his talent and this attitude. However, his successful art period was quickly followed by years of wondering if he could ever paint again. â€Å"I’m starting to know how to paint. It has taken me over fifty years’ work to get this far and it’s not finished yet,† declared the artist Pierre-Auguste Renoir (1841-1919) in 1913, at a time when a major exhibition of his work, including the large nudes painted at the turn of the twentieth century, was in the show at the Bernheim Jeune gallery in Paris. [1] We will write a custom essay sample on Western Art Exhibition Critique specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Western Art Exhibition Critique specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Western Art Exhibition Critique specifically for you FOR ONLY $16.38 $13.9/page Hire Writer When Renoir followed other artists, such as Monet, into Impressionism it was considered by the art world as a huge movement away from Realism – the historical work of past artists that almost appeared to imitate life. The year 1869 had brought a new style of art called Impressionism into the world, developed by artists Renoir and Monet. At the beginning of the art movement, the works of both artists were so much alike it was as if their still life and landscape art blended together into one joyful union with colors to match the feelings.   Using unmixed primary colors, the work had a look about it unlike any other. The dark earthy tones and heavy dedicated brush strokes of the previous masters were gone. By 1880, Renoir had begun to move away from Impressionism even though he was highly sought for his unique colors and rainbow palette style, especially in his nudes and body forms. However, deep inside he felt he had wrung Impressionism dry. [2] These feelings are because his work of the human form had always been more traditional than other artists of the Impressionism group, and he was feeling as if it was pulling him away from what he felt was right for him. Renoirs return from an Italy trip in 1982 left him doubting Impressionism even more, with his work changing so much that critics, patrons and other artists felt he was going downhill with his art ability. At this time, late Renoir artwork was beginning to be considered bad Renoir work. Showing with the Impressionists, the painter [Renoir] is reported to have lamented to a dealer, Ive come to the conclusion that I can neither paint nor draw. Looking at the show one is inclined to mumble, Indeed. [3] Renoir eventually left Impressionism, returning to the full-bodied female nude and children he enjoyed doing, instead of landscape and outdoors. After studying in Italy, he discovered the importance of drawing prior to painting. According to the art exhibit literature, the work of Gabriel and Jean that Renoir painted in 1895, a painting of his infant son and nanny, demonstrated this fact.[4] Prior to its painting, he worked on preparatory drawings of the painting before he started. This was difficult He had become so mesmerized with the childs infant gown he spent hours on the painting, while quickly painting over the face of Gabrielle whom he really did not want to paint, refusing her several times prior to this. He [Jean] said that in his fathers paintings, everyone looked as if they were brothers and sisters. We are all Renoirs children in the paintings, Jean Renoir said. [5] Severely in pain with rheumatoid arthritis, his hands became completely gnarled and he became wheelchair-bound. In as much pain as he was, he still painted for years. Paintings like Jean as a Huntsman shows a full-length portrait of his son, Jean, referred to as a modern Blue Boy. The work appears as a work of the old masters, with the gallery listings describing it as similar to the work of Spanish artist Diego Velazquez, which exemplified Renoirs work with great art of the past – with Jean posing for several months while his father painted under extreme pain throughout the process. According to the LACMA literature for the show, the painting remained with Renoir until his death, and then was given to LACMA by Renoirs son, Jean, in 1979. Subject matter of his final years were nudes, girls at a piano, children with their nannies – turning his back on his Impressionism style he had been so involved with earlier in his life.   The light brush strokes disappeared, with Renoir returning to the style of the old masters such as Rubens.     With hands appearing as old tree stumps, he had mastered the use of color and brush strokes toward his final years. To paint, he wrapped fabric around his gnarled fingers while clamping a paintbrush between the thumb and first of his right hand, appearing gaunt and emaciated. But he still painted for hours because if he quit, the pain may actually destroy him.[6] The art display Renoir in the 20th Century Los Angeles County Museum of Art demonstrates how far Renoir had come artistically toward the end of his life. Instead of Bad Renoir art in his later years, it was the best he had ever done with a glowing to his skin tone other artists could not compete with. Becoming more and more of an art master who was dedicated to his work helped him overcome his physical pain. Through this, he worked to re-develop and refine the traditional forms and methods into an exquisite art form he had always preferred. Nowhere is this success more apparent than in the art exhibit of Renoir and his friends.

The Book of Kells essays

The Book of Kells essays ... you might believe that it is the work of an angel rather than a human being. -thirteenth century biblical scholar Giraldus Cambrensis The book of Kells is a beautiful translation of the four gospels based upon the Vulgate, the original latin translation from the original Hebrew. The book also contains the Eusipian canons and fragments of early Hebrew geneaology. It was presented to the Trinity College in Dublin, Ireland in the year 1661 by the archbishop Henry Jones. It is generally regarded as one of the most beautifull illuminated texts in the world. An Illuminated text are ancient books ussualy done on animal skin, Vellum. They were done by hand and contain marvelous illustrations often done in gold leaf and various other pigments. These pictures are designs that have pretty much spawned and defined what would come to be known as classical celtic art. These illustrations are pictorials of man and beasts, fanciful beings, gargoyles,dragons, birds, dogs, and horses are all woven together in elaborate patterns. What really strikes the viewer is not only the ornate detail of all this ornamentation, but the precis ion of the illustrators hand. The Book of Kells, is also called The book of Columba, after the Irish monk St Collum Cille. He died at the monestary of Iona, an island of the coast of Scotland, in 597 AD. In 806 vikings, probably of Danish origin, mounted a raid on Iona, killing sixty eight of the Ionic monks. Many of the remaining monks fled Iona to the monastary in Kells. Kells is on the irish mainland about seventy kilometers north of Dublin. Many scholars believe that this tranlation was commisioned to commemerate the anniversary of St Collums death in 797. It is believed that the half completed book made this flight with the monks. Very little is known about the actual authors, although scholars have been able to divine four very different hands in the calligraphy. ...

How to Brainstorm in the Classroom

How to Brainstorm in the Classroom Brainstorming is an excellent teaching strategy to generate ideas on a given topic. Brainstorming helps promote thinking skills. When students are asked to think of all things related to a concept, they are really being asked to stretch their thinking skills. All too often, a child with special learning needs will say they dont know. However, with the technique of brainstorming, the child says what comes to mind as it relates to the topic. Brainstorming promotes success for students with special needs as there is no one right answer. Lets say that the brainstorm topic is weather, the students would state whatever comes to mind, which would most likely include words like rain, hot, cold, temperature, seasons, mild, cloudy, stormy, etc. Brainstorming is also a terrific idea to do for bell work (when you have just 5-10 minutes to fill just prior to the bell).​ Brainstorming Is an Excellent Strategy To... Use in the inclusive classroomTap into prior knowledgeGive all students a chance to express their ideasEliminate fear of failuresShow respect for each otherTry something without fearTap into individuality and creativityEliminate the fear of risk-taking Here are some basic rules to follow when conducting a brainstorm in the classroom with a small or whole group of students: There are no wrong answersTry to get as many ideas as possibleRecord all ideasDo not express your evaluation on any idea presented Prior to starting a new topic or concept, the brainstorm session will provide teachers with a great deal of information regarding what the student may or may not know. Brainstorming Ideas to Get You Started What are all the things you can do with a ball? (marble, stick, book, elastic, apple, etc.)How many things are white? blue? green? etc.What are all the methods of travel?How many types of insects, animals, flowers, trees do you know?How many ways can you describe the way something is said? (whispered, shrieked, bellowed, yelled, retorted, etc.)How many things can you think of that are sweet? salty? sour? bitter? etc.How many ways can you describe the ocean? mountains? etc.What if there were no cars? rain? butterflies? cigarettes?What if all cars were yellow?What if you were caught in a tornado?What if it never stopped raining? What if the school day was only half days? went all year? Once the brainstorming activity is done, you have a great deal of information on where to take the topic next. Or, if the brainstorming activity is done as bell work, link it to a current theme or topic to enhance knowledge. You can also categorize/classify the students answers once the brainstorm is done or separate it out and let students work in groups on each of the sub-topics. Share this strategy with parents who have children who are insecure about sharing, the more they brainstorm, the better they get at it and thus enhancing their thinking skills.

How the World Crises Happened and What are the Causes Essay

How the World Crises Happened and What are the Causes - Essay Example The resultant was a steep fall in both personal and corporate credit. This multiplied with the fast recession that occurred in the housing and the construction markets. The financial institutions especially the investment banks have been lending to each other at lower rates. The reason is that the banks have been well aware of the solvency of other institution and don’t want to take the high risk rather they want to keep the cash reserve for themselves. As lending by the bank lowered due to the economic instability, the bank increased the borrowing cost to increase the operational revenue. This strategy was taken by the banks in order to maintain a sustainable business operation in the financial market. The company undertaken for discussion is Barclays PLC. The company is a multinational bank of Britain. It operates in the financial sector and is headquartered in London. The operations of the organization spread over 50 countries and territories. The company emerged as the fou rth largest in terms of total assets in the year 2010. The organization has got two business clusters namely retail and Business Banking as well as Corporate and Investment Banking. The company is listed in the London Stock Exchange. How the crises happened and what are the causes The collapse of the U.S. housing market regarded as the housing bubble is characterized as one of the prime reason for the situation to occur. The collapse resulted in a surge of default of mortgage loans (World Health Organization, 2009). The collapse of the real estate market and the subprime mortgage market of the U.S. can be held responsible to spread the severe effects of the crisis. Uncertainties accrued in the financial system. The creditors became inclined to pull out their funds and cashed out the securities issued by the financial institutions. The situation thus caused led to shutting down of many institutions while others just managed to survive. The loan and credit facilities available from th e banks dried up. The investors began to dump their holdings and the obvious situation was a downturn in the share market. In order to create securitization, the banks started to borrow more money. The dependency of the banks on the savers can only be felt when the banks are not able to pull out by selling loans on the basis of securities. Some of the banks launched to buy securities which increased the exposure of the banks towards risk. When the problem got realized, the process of lending got slowed. Some of the banks were on the verge of the riskiest loans which was beyond the intention of the investors. The lenders fell upon to take back their loans. The investment banks fell drastically as they had no or little deposits. The problem got intensified and even the banks with large capital reserves began to feel the pressure. They turned to the government for support. The banks began to feel nervous to loan out the injected money and the shrinking banks sucked money out of the eco nomy. In spite of the fact that the global financial crisis has shown its effects a year ago, yet the prime banks of UK were able to accrue a profit in the second quarter of the financial year 2009 in the area of non-recurring items. The retail business of Barclay got affected along with the top three banks of UK. In the middle periods of the year 2009, Barclays reported that profit has  decreased far more than what it was in mid-2008.