...Internet Gambling With the internet growing bigger and bigger every day, more and more things are going to move to the digital frontier. One major activity making the move is casinos, with online gambling sites that will hopefully pull in more people. But because of the complicated laws revolving around gambling, it makes such site extremely hard to regulate and maintain. Even more so is the ethical issues with such services, and if they cause more harm than good. This is what I hope to discuss in this paper, and give my personal opinion on the matter. I would like to quickly cover the legality of online gambling, because it helps applies a truer understanding of the ethical dilemmas surrounding the issue. To the federal government, anything you can do in a casino is fair game for any website, but because each state also has its own gambling regulations, the final decision is down to them. To date, only several states have created legislation involving gambling over the internet, some allowing it, while some completely prohibit the activity. There are also so complicated, outdated law that applies to all gambling activates, such as the 1961 Wire Act that prohibits gambling on sporting events. These are all issues to consider when looking at the ethicality of online gambling. I would like to look at the issue with an Act Utilitarianism perspective, and try to figure out if the good outweighs the bad, or vice versa. Casinos bring in massive amounts of income for states through...
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...LEADERSHIP AND ETHICAL DECISIONS PERFORMED BY KENNETH LEWIS AND THE FED DURRING THE FINANCIAL CRISIS OF 2007-2008 November 29, 2010 Introduction The robust leadership decisions of both the Fed and Kenneth Lewis, CEO of Bank of America (B of A), were not only ethical and accurate, but could have simply saved our financial system as we know it. During the weekend of September 13-14, 2008 Kenneth Lewis met with CEO of Merrill Lynch (Merrill), John Thain, in order to try and rescue Merrill from a hasty bankruptcy that lurked around the corner. Lewis was thinking that it was the perfect opportunity to add the only thing that B of A lacked after recent acquisitions, a “Wall Street investment bank that underwrote and sold securities” (Pozen and Beresford, 2010). On December 5, 2008 B of A’s shareholders voted to approve the merger between the two (Pozen and Beresford, 2010). It wasn’t until days later that Lewis became progressively more concerned about the growing fourth quarter losses on Merrill’s books, from $5.38 billion on November 12 to $12 billion on December 14, one month later. By mid December Lewis began looking for a way out of the deal before the scheduled closing date in late January. Both the Fed and the U.S. Treasury Secretary, resisting that Lewis walk away, threatened to fire Lewis and replace the board at B of A if the merger didn’t take place. Lewis, afraid of legalities from not disclosing the losses to their shareholders before the vote, and the drop in...
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...with more than $50 billion in assets to undergo to ensure they can endure shocks like those that upended the banking system and led to big government bailouts in the 2008 financial crisis. Lenders announced more than $60 billion of dividends and stock buybacks after the Fed approved capital plans for 25 of the 30 banks in its annual exam. In the extreme scenario, the Fed test assumed a rise in the 6.7% unemployment rate to 11.2%, a 50% drop in stock prices and a decline in home prices to 2001 levels (Citi…). Citigroup shares dropped 5.4% Thursday to close at $47.45 a share after the Federal Reserve rejected the plans of Citigroup and four other banks to raise dividend payments and increase stock buybacks. Twenty-five other banks that took part in the "stress test" received a green light for their planned dividend payouts and share repurchases. Citigroup was the biggest recipient of federal bailout money during the crisis, getting $45 billion in cash infusions and many billions more in guarantees. The Fed said its rejection of Citigroup's plans "reflects significantly heightened supervisory expectations for the largest and most complex" bank holding companies. The results show lenders may still face obstacles to boosting dividends and buybacks even as regulators say the firms have doubled their capital since the first public stress test in 2009 (Citi…Boos). The Fed is increasing scrutiny of the industry’s controls and planning processes as concerns about capital levels wane...
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...influence to help save the nation from disaster during several economic crises. In 1895, Morgan assisted in rescuing America’s gold standard when he headed a banking syndicate that loaned the federal government more than $60 million. In another instance, the financial panic of 1907, Morgan held a meeting of the country’s top financiers at his New York City home and convinced them to bail out various faltering financial institutions in order to stabilize the markets. Morgan initially was widely commended for leading Wall Street out of the 1907 financial crisis; however, in the ensuing years the portly banker with the handlebar mustache and gruff manner faced increasing criticism from muckraking journalists, progressive politicians and others that he had too much power and could manipulate the financial system for his own gain. In 1912, Morgan was called to testify before a congressional committee chaired by U.S. Representative Arsene Pujo (1861-1939) of Louisiana that was investigating the existence of a “money trust,” a small cabal of elite Wall Street financiers, including Morgan, who allegedly colluded to control American banking and industry. The Pujo Committee hearings helped bring about the creation of the Federal Reserve System in December 1913 and spurred passage of the Clayton Antitrust Act of 1914. J.P. MORGAN: ART COLLECTION AND FINAL YEARS The famous financier died at age 75 on March 31, 1913, in Rome, Italy. On April 14, the day of his funeral, the New York Stock Exchange...
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...Ms. Silver-Greenberg, in her article entitled “As Foreclosure Problems Persist, Fed Seeks More Fines”, noted three key points, 1) the Federal Reserve is interceding with regards to the foreclosure dilemma, 2) there are flaws in the foreclosure process and 3) consumer’s may quality to request an “Independent Foreclosure Review”. Ms. Silver-Greenberg states the Fed is interceding in the foreclosure dilemma. After an extensive investigation, extending over 2 years according to Silver-Greenberg, by the Federal Reserve resulted in a report entitled “ Interagency Review of Foreclosure Policies and Practices” (2011). The Fed’s have imposed a guideline for the mortgage institutions to follow and if they choose not to, there are talks of imposing stiff fines. The actions of these lenders have affected not only the borrowers, but also the mortgage industry, investors, and the economy itself. I feel that it is a shame lenders were able to get away with their procedural defects as long as they were. This resulted in more consumers being affected and as an end result exacerbated the decline in the economy. According to not only Ms. Silver-Greenberg, but also the report submitted by the Federal Reserve, (2011), there are flaws in the foreclosure process. These flaws are not only inappropriate signatures of bank officials, but also issues with organization of paperwork, customer service, lack of quality control, just to name a few. After reviewing this report, which until now...
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...complete your one time project at a much lower cost than if you got someone from the United States with the same skill level. ODesk created its online marketplace in 2005 for smaller businesses to be able to see the individual ratings and portfolio of foreign workers willing to do a project for a small amount of money. http://www.nytimes.com/2014/02/16/business/small-business-joining-a-parade-of-outsourcing.html?_r=0 Summary of Article 2: “Food, housing costs rise sharply in March; overall inflation low”April 15, 2014|By Ricardo Lopez - Although during march, food and house costs rise, inflation remains at an average low. The Federal consumers price index rose by 0.2% while the past 12 months, overall inflation rose by 1.7%. Because of extreme weather behavior during march, the price of beef rose to an all time high rising up by 0.4% according to the Federal consumers price index. After the extreme weather behavior the index for meats, eggs, and poultry increased along with the rental index. http://articles.latimes.com/2014/apr/15/business/la-fi-mo-consumer-price-index-20140415 Summary of Article 3: “The New American Dilemma” By Mortimer B. Zuckerman July 23, 2014 - During the month of june it was believed that close to 300,000 jobs had been created, but that was far from true since in fact over half a million jobs had plunged. As a result of the half a million full time jobs that had plunged, around 800,000 part time jobs rose because of Americans resulting to part time...
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...transport and the shape of the ladder was the exact same to the Lindbergh baby kidnapping. The comparison between these two ladders were very credible and Hauptmann claimed it was because of his profession of a carpenter. Nonetheless, the police were able to prove that the ladders from both occasions were about one and the same. The tests from both were very compatible and eventually, both ladders were used as evidence against him in the trial. Although he had a strong criminal background, the police needed to find motives as to why Hauptmann would want to commit such a travesty in the first place. The police were able to find two possible motives, money and a feeling of superiority. Although there are more reasons behind committing this immoral act, superiority and money are the two most important motivating factors. Hauptmann fully believed that he was superior to Charles, but was not appreciated in the way that he should have been. Hauptmann thought that the Lindbergh’s had everything that he did not, including a child (“Hauptmann’s motive”). Hauptmann felt so much anger towards the Lindbergh’s and their successes that Hauptmann felt he needed to take the most important thing from the Lindbergh’s to make them feel less than of themselves thereby making Hauptmann feel like he is superior to the Lindberghs. When the case began to be strung out over the course of a couple years, Hauptmann viewed the kidnapping and ransom against the Lindbergh as further proof of his superiority (“Hauptmann’s...
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...Image having someone close taken away, imagine how much pain and anguish one would feel. Well, this is how the Lindbergh’s felt when their son was snatched from their arms. The Lindbergh baby kidnapping resulted in the passage of the Lindbergh kidnapping law and the prohibition of courtroom photography. No one knew hat the night of March 1, 1932 was going to be the worst night for the Lindbergh’s on that evening Anne and the Nursemaid, Betty, put baby Charles to sleep. A while later Charles Lindbergh arrived at the house and ate dinner with Ann, after having dinner he went to his study while Anne got ready for bed; meanwhile Betty went to check on the baby, and she walked into the room, she didn’t hear anything, so she ventured closer to the crib, and when she got close enough to see, she realized the baby was gone. She raced to the study to see if the baby was with his father, but when she saw that he wasn’t their, she went to see if he was with his mother, but he wasn’t with her either. Charles Lindbergh couldn’t believe what was going he first said “Anne they have stolen our baby”(Beverly 15). After searching he found a ransom note but he did not touch it in case of finger prints, and then immediately he called the police saying “[T]his is Charles Lindbergh, my son has just been kidnapped” (Greg n.p.). In minutes the police arrived and Lindbergh told them everything, they took the note and immediately checked for prints, then they gave it to Charles to open. The note stated...
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...workplaces, consumer education, environmental sustainability, direct trade with producers, financial and technical support for producers, community development, respect for cultural identity, and public accountability through transparency.” (Stenzel, 2012). Related to this description of fair trade, there are laws in the U.S. that aim to regulate business. One such law is the Federal Trade Commission Act of 1914. The Federal Trade Commission Act of 1914 was set up to prevent unfair competition among businesses. It also allowed for a Commission (The FTC, or Federal Trade Commission) to be formed to regulate businesses and enforce the Act, which oversees many different things- from false advertising to false claims related to where a product is made. The Act additionally allows for the Federal Trade Commission to conduct investigations and to report any such indiscretions to Congress. (www.ftc.gov). While I agree that such regulations are needed to keep an open and free marketplace, I can understand both the positive and negative aspects of such interference in the business world. A big part of the FTC Act is monitoring false claims made by...
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...Technology Acts Skye Tsuji BIS/220 September 1, 2014 Patrick Deely Information Technology Acts For years technology has been growing and growing, as a result of this many acts have been put into place. Some of these acts are newer then others and some have been revised to fit the way technology is today, but non the less they are all there to protect use in some form or another. An act is much like a law in that it has certain consequences for disobeying. These consequences can range from a small fee, loss of your business, and or jail time. There are two newer acts from the early 2000 that show how acts can protect you and have consequences if they are not fallowed. The Do Not Call Implementation Act of 2003 is one of the many acts in place that protects one’s personal privacy and space. According to the Federal Communications Commission (N.D) it had “been receiving complaints in increasing numbers from consumers throughout the nation about unwanted and uninvited calls to their homes from telemarketers.” This was one of the main reasons for the implementation of the act. Although this act comes in on the coat tails of the Telephone Consumers Protection Act. There are many ethical issues that were behind putting this act together, one of these issues was the selling of personal information, such as phone number. As a result of this there are many people who are now on a Do Not Call List that was set up by the FCC. The Children’s Internet Protection Act of 2000 is...
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...Advancements to Information Technology & the Children's Internet Protection Act of 2000 Chris Weimer BIS/220 March 11, 2013 Andrew Caples Advancements to Information Technology & the Children's Internet Protection Act of 2000 The advent of the Internet, and subsequent technological developments, enabled people to more easily share and access all types of information. Information technology is defined as, “anything related to computing technology, such as networking, hardware, software, the Internet, or the people that work with these technologies.” (TechTerms.com, 2013) Unfortunately that also meant our children could be exposed to material that was considered harmful or obscene. Despite the benefits the internet offered, people felt the need to ensure the safety and well being of our children. These ethical concerns lead to the creation of the Children’s Internet Protection Act, or CIPA, by Congress in the year 2000. CIPA was created with the sole purpose to ensure that, “schools and libraries that received discounts for internet access, or internal connections through the E Rate program, limited children’s access to obscene or harmful content.” (Federal Communications Commission, May ) CIPA required several criteria to be met in order for schools and libraries to receive their funding. This included “access by minors to inappropriate matter on the Internet, the safety and security of minors when using electronic mail, chat rooms and other forms of...
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...Information Technology Acts Kimberly Bundrick BIS/220 July 9, 2012 Heather Shankwiler Information Technology Acts There are several advances in information technology that resulted in new ethical issues necessitating the creation of certain acts. The two acts which will be discussed in this paper are the Children’s Internet Protection Act of 2000, and the Family Educational Rights and Privacy Act of 1974. Children’s Internet Protection Act, 2000 The Children’s Internet Protection Act (CIPA) is a federal law which was passed by Congress to allocate the offensive content over the Internet. CIPA obligates the schools and all public libraries to require filters on their computers to stop minors from accessing sites that are not appropriate. (Federal Communications Commission, n.d.) The (CIPA) was passed in December 2000. The main purpose of the CIPA is for the protection of children from obscene, child pornography and other dangers of the internet. CIPA does not precisely state what kind of filtering systems to use. This is the third law that Congress has passed to allocate concerns about the children’s access to the inappropriate Internet sites and it is the only one “that the U.S. Supreme Court found constitutionally defensible.” (Minnesota House of Representatives House Research, 2004) Our kids face online predators and other inappropriate things in chat rooms, online games, pictures of teens drinking, drugs, sexual messages, and even false information about them...
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...Information Technology Acts Children’s Internet Protection Act of 2000 (CIPA) Children’s Online Privacy Protection Act of 1999 (COPPA) Christopher Barrera BIS/220 June 3, 2013 Information Technology Acts Paper The CIPA (Children’s Internet Protection Act) of 2000 was created and enacted by Congress to address the concerns about obscene and harmful content found over the internet that was becoming readily accessible to children. The CIPA was created directly because of the necessity to educate the youth in the technological advancements occurring every day and the dangers that children become vulnerable to with the Internet working as an educational tool. As an act the CIPA requires schools and libraries that receive discounts on Internet access or internal connections through the E-Rate program that makes certain communication services and products more affordable for the eligible schools and libraries. While providing schools and libraries with accessible and affordable networks and Internet access, the E-Rate program did enforce two requirements in order for the schools or libraries to take advantage of their benefits. 1) Their Internet safety policies must include monitoring the online activities of minors. 2) As required by the Protecting Children in the 21st Century Act, they must provide for educating minors about appropriate online behavior, including interacting with other individuals on social networking websites...
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...Information Technology Act Paper Shirley Richardson BIS/220 July 7, 2013 David Martin Children’s Internet Protection Act, 2000 As the internet grows and become a vast part of how the world communicates. The world is bombarded with the existence of the dangers and threats, especially involving the younger generation. Because of the vast danger and threats, a great need for filtering software has become the center of attraction, world-wide concerning the debate about children, sex, and the internet. In December 2000, Congress passed the Children’s Internet Protection Act (CIPA), which is a law that places a demand on every school, library, museum, and all public related facilities to ensure there are some form of filtering application in place so, that they can continue receiving Federal funding for computers and internet accessibility. Entangled within the vast talked about dilemma of the internet and its dangers, as it pertains to children’s sexuality, internet filtering software takes up a wide spread of issues resulting in anxiety and fear. The matter that pose a major issue to parents are what the children are being exposed too, such as pornography, sexual images, sexual experience and sexual information, all of these things and more are discovered. The only way to protect the children from these obscenities and the dangers that the children are faced with, will be to educate our children, the responsibility does not fall on the distributors alone but the parents...
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...while others say it is causing more problems in today’s society. Individuals say it is one of the main reasons why children and young adults are being robbed, prostituted, and turned to drugs. Is it possible that technology can play such major roles in dramatic situations like the ones described? If so what is being done to stop such things from happening. The Children’s Online Privacy Protection Act (“COPPA”) specifically protects the privacy of children under the age of 13 by requesting parental approval for the collection or use of any personal information of the users, which took effect in April 2000 (Multnomah County Library, 23). The reason for passing COPPA was because parents started to notice that marketing techniques were being targeted towards their children and the way they went about collecting the information was through websites that were often used by children. Parents were not given any parental notifications. The Act is directed to major websites and online services that direct their products to children under the age of thirteen. Congress’ reason for passing the Act was to incorporate more parent involvement in their children’s online activities, make certain children’s safety during the time they are participating in online...
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