...The issue is about scandals and focusing attention on problems. The statement about whether scandals are more useful than speakers or reformers in focusing attention on problems is a complex one. Scandals have both a good side and a bad side in the process of revealing problems. And speakers and reformers are irreplaceable by scandals. On the one hand, scandals are useful to attract the public attention to the seriousness of the problem such as corruption, food safety and murder which is hard to be tackled by speaker and reformer in China. Scandals, which reflect the ugliness of human nature, provide a valuable clue to trace back to the source of the problems. Take an example from China to illustrate this point, Zhengfu Lei, whose sex media was leaked out from the internet firstly, was soon caught with discovery of corruption. Surprisingly, He was considered to be a decent official in the past years. It can be seen the power of scandal in this example. Corruption is ubiquitous in the world, and laws cannot bring the criminals to justice easily and effectively without the help of scandals. Even if speakers and reformers racked their minds, it cannot rival a small story of scandals. On the other hand, scandals will also move the public attention from the real matter itself to something largely irrelevant. Sometimes people are more interesting in the scandals than tackling problems when the problem is not so big or it doesn’t have detrimental to their interests. For example...
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...Do you agree with the view that the key role in uncovering political scandals and controversies has been played by journalists? Although journalists have been recognised as playing a key part in uncovering scandals, the majority of them have actually been sexual scandals rather than political scandals. This includes such events like the Profumo affair, Boothby and Squidgygate, which were all sexual scandals. Source 4 shows evidence for agreeing with the question. This is shown when it is written that Tam Dalyell, a labour MP was ‘quick to praise the role of the press’. This shows some evidence that the press were key due to it establishing that they ‘would not be in this position’, with this position being that of uncovering the Belgrano scandal. Source 5 partly coincides with this statement, saying ‘very little was heard’ until ‘ Sunday Times argued that the ship was not a direct threat’. Source 6 also shows evidence that ‘it is clear that journalists have played a key role in drawing attention to corrupt politicians’. Source 6 mentions that the ‘Guardian have been assertive’ towards the uncovering of political scandals. This is evident in the Cash For Questions affair. The story originates from the Guardian quoting Al-Fayed, saying that he had approached the paper and accused Ian Greer of paying Neil Hamilton and Tim Smith to ask the parliament questions on his behalf for £2000 per question. Both Hamilton and Smith denied the charges, but between 1996 and 2000, court cases...
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...Reagan Analysis George W Ivery III HIS 145 June 16, 2014 Shaun Sullivan Reagan Analysis President Ronald Reagan the 40th President of the United States had certain qualities that made people think of him in several different lights. One of the ways people saw him is overrated and taking credit for what he did not do when he resided at the White House as president. On the other hand some said he is much underrated due to him not getting proper credit for some of the things he did and changed while he was in office. He had quite a few items that are in the history of this country, which include the Principles of the New Right, the Iran Contra Affair, and credit for ending the Cold War between the United States (U. S.) and the Soviet Union (USSR). These are just a few items that will be taken into consideration to see if he was or was not the person that is liked or disliked by the people of the U. S. The election of President Reagan in 1980 saw the emergence of what was considered the “conservative cause known as the “New Right” movement, partly in response to counter-cultural protests of the 1960’s-evangelical Christian groups, social issues” (The resurgence of conservatism 1980-2000, 2014). The Reagan Doctrine; “A strategy orchestrated and implemented by the United States under the Reagan Administration to oppose the global influence of the Soviet Union during the final years of the Cold War” (The resurgence of conservatism 1980-2000, 2014). It is also known as...
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...THE NONPROFIT SCANDAL OF THE YEAR: THE FIESTA BOWL Bill Jones EXECUTIVE SUMMARY – The overriding failure of the Fiesta Bowl’s Board of Directors (BoD) was its abrogation of its Duty of Care in managing the Nonprofit Organization (NPO). The Duty of Care requires directors of an NPO be reasonably informed about the organization’s activities, participate in making decisions, and do so in good faith with the care an ordinary prudent person would exercise in similar circumstances. This duty requires the individual BoD members pay attention to NPO activities and operations. Per a New York Times summary, top executives at the Fiesta Bowl funneled campaign contributions to local politicians, flew other Arizona elected officials to various points around the country at the bowl’s expense, racked up a $1,200 bill at a strip club and even spent $30,000 on a birthday party for the chief executive, according to an investigative report commissioned by the Bowl’s BoD. Lessons on internal controls from the scandal are important to sports programs’ cultures throughout the country. This scandal could determine how an NPO’s tax exempt status is overseen. The scandal also had implications for political contributions and NPO governance. FACTS OF THE SCANDAL Known in Arizona as the "Nonprofit Scandal of the Year," the Fiesta Bowl, the umbrella organization for four Section 501(c)(3) organizations the Arizona College Football Champion, the Arizona Sports Foundation, Fiesta Events, and the...
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...Introduction Over the years, the US has seen and recovered from major financial setbacks. With the uncovering of each new company scandal, legislation has been swift to put ordinances and laws into place to prevent the same mistake from happening twice. Although some of the events majorly affected every American, some were swiftly and quickly identified which helped offset some of the major repercussions that could have possible be occurred. Three such laws that were implemented due to financial catastrophe include the Securities Act of 1933 & 1034, the Foreign Corrupt Practices Act of 1977, and the Sarbanes - Oxley Act. I. Securities Act of 1933 & 1934 A. Summary of Regulation * Securities Act of 1933 * First major federal legislation to regulate the offer and sale of securities * Created by Congress during the aftermath of the stock market crash of 1929 and during the ensuing Great Depression * Purpose is to make sure that buyers of securities receive complete and accurate information before investing (Graham, Hazarika, & Narasimhan, 2011) * Securities Act of 1934 * Created to provide governance of securities transactions on the secondary market (after issue) and regulate the exchanges and broker-dealers in order to protect public investors B. Analysis of Related Fraud/Scandal * Crash of 1929 * The most devastating Stock Market crash in US history * Signaled the start...
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...is an incredibly witty movie, with a rare blend of cynicism, humor, and intelligence by Barry Levinson, Wag the Dog thus begins with these opening credits, an early indication of a dark socio-political satire that would unfold to criticize mass media and indecisive public opinion, but most importantly, the abuse of power by political leaders. Wag the Dog also satirizes the immaturity of the society and how people's unquestioning absorption of propaganda only encourages the media to exploit them on a higher level. Conrad Brean (Robert De Niro) is a retired political consultant, a spin doctor who resurrects the support for the US President's after his disastrous scandal with a teenage girl just eleven days before the election. In order to smother the sparks of rumor ignited by the media, Brean invents an international crisis to sway the people's vote he fakes a war on Albania. The president heroically ends the war and his compassion and exceptional 2/11 leadership qualities are presented through the mass media to the people, winning back their faith. (Lu, 2007) The movie is basically about a fraud of the American public conspired by the incumbent president’s White House staffers. This was done through fabrication of a war in attempt to cover up a presidential sex scandal with a teenage girl. This movie received a lot of different feedbacks from the audiences and one of them elucidated: Right from the opening scene, Wag the Dog...
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...ENRON SCANDAL Enron was formed in 1985 from merger of two companies; Houston Gas and InterNorth Inc. by Kenneth Lay. It grew to be among the highly innovative companies throughout 1990s. Its unique business strategy made it known. Initially, the company’s objective was to sell electricity and gas but by 1990s it had ventured into other businesses such as pulp and paper companies and communications . Its success was indicated by the rise in annual revenues; between 1995 and 2000 Enron recorded a revenue rise of $91 billion dollars. However in 2001 as notes accounting fraud was revealed in its financial reports. It was established that the company had indeed experienced a loss of more that $500 million dollars (Li, 2010) for the previous five years; contrary to its audit reports. The company fell bankrupt later in 2001. This essay examines the scandal, its effects and critically gives an ethical analysis of the situation. Enron scandal is the worst to have ever happened in the US business industry. Enron’s bankruptcy was a result of accounting fraud which was substantially institutionalized and creatively crafted within the management. The management focused on converting all the strategies into success to maintain their heavy compensations-through accounting manipulation; a greed financial officer with underground agreements to enrich himself; a collaborative law and auditing firms in Elkins and Arthur Andersen respectively; corrupt investment bankers- they structured...
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...Hallmark-Sonali Bank Loan Scandal By Daniel Sabet and Ahmed S. Ishtiaque January 2013 Monthly Current Events Analysis Series Purpose of the report This month’s Current Events News Analysis takes up an issue that has been well documented and discussed in a variety of news sources: the Hallmark-Sonali Bank loan scandal. As with other hot topics, important information is scattered across a variety of different articles and sources. This report seeks to provide readers with “all that they really need to know” about the scandal. The analysis tries to provide clear, simple answer to the following questions: What happened? How did it happen? Why wasn’t the malpractice prevented or discovered sooner? What has been the fall out? What is next? What happened? In May 2012, a report from the Bangladesh Bank revealed that the Ruposhi Bangla Hotel Branch of the state-owned Sonali Bank, Bangladesh’s largest commercial bank, illegally distributed Tk 36.48 billion (US$460 million) in loans between 2010 and 2012. The largest share, of Tk 26.86 billion (US$340 million), went to the now infamous Hallmark Group. While the focus has understandably been on Hallmark, other companies also participated in the fraud, including: T and Brothers, Tk 6.10 billlion Paragon Group, Tk 1.47 billion Nakshi Knit, Tk 660 million DN Sports, Tk 330 million Khanjahan Ali, Tk 50 million This is considered to be the country’s largest banking scandal. It dwarfs...
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...Hallmark-Sonali Bank Loan Scandal By Daniel Sabet and Ahmed S. Ishtiaque January 2013 Monthly Current Events Analysis Series Purpose of the report This month’s Current Events News Analysis takes up an issue that has been well documented and discussed in a variety of news sources: the Hallmark-Sonali Bank loan scandal. As with other hot topics, important information is scattered across a variety of different articles and sources. This report seeks to provide readers with “all that they really need to know” about the scandal. The analysis tries to provide clear, simple answer to the following questions: What happened? How did it happen? Why wasn’t the malpractice prevented or discovered sooner? What has been the fall out? What is next? What happened? In May 2012, a report from the Bangladesh Bank revealed that the Ruposhi Bangla Hotel Branch of the state-owned Sonali Bank, Bangladesh’s largest commercial bank, illegally distributed Tk 36.48 billion (US$460 million) in loans between 2010 and 2012. The largest share, of Tk 26.86 billion (US$340 million), went to the now infamous Hallmark Group. While the focus has understandably been on Hallmark, other companies also participated in the fraud, including: T and Brothers, Tk 6.10 billlion Paragon Group, Tk 1.47 billion Nakshi Knit, Tk 660 million DN Sports, Tk 330 million Khanjahan Ali, Tk 50 million This is considered to be the country’s largest banking scandal. It dwarfs...
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...convicting Al Capone for income tax evasion. The charges against Mrs. Fastow don't focus on dubious corporate deals; they focus on her failure to report the personal kickbacks she received from participants in those deals. And it's still unclear whether the company's top executives will ever face charges. More important, in political terms the statute of limitations may already have run out. The political figures with the most direct ties to the Enron scandal, former Secretary of the Army Thomas White and former Senator Phil Gramm, are no longer in office. War and a rising market have, at least for the time being, diverted attention from the role of other political figures whose deference to corporate demands aided and abetted Enron and other corporate malefactors. And that's unfortunate. The wave of scandal was made possible, if not caused, by a political climate in which corporate insiders got pretty much whatever they wanted. Since the politicians who did their bidding haven't paid any price, that climate hasn't changed. A November profile of Lea Fastow in Business Week was, among other things, a reminder of just how important a permissive political environment was to the company's growing sense that it could get away with just about anything. One...
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...Enron Company Ethical Issues Case Analysis Format I. Time Context After the scandal revealed on Enron Corporation on October 2001 up until in present time (2014) it is still discussed. II. Point of View Enron was founded in 1985, and as one of the world's leading electricity, natural gas, communications and pulp and paper companies before it bankrupted in late 2001. The Enron scandal, revealed in October 2001, eventually led to the bankruptcy of the Enron Corporation, an American energy company based in Houston, Texas, and the dissolution of Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the world. Although Enron went bankrupt and disappeared ten years ago, the impacts it has made on the ethical standards never faded. It took Enron 16 years to go from about ten billion dollar assets to more than sixty-five billion dollar assets, and took twenty-four days to go bankrupt. (McLean & Elkind, 2004) III. Statement of the Problem The said company projected itself as a highly profitable, growing company – an image which quickly turned out to be an elaborate mistrurth. Enron’s statements about profits were shown to be untrue, with a very big debts concealed so that they didn’t show up un the company’s accounts. Moreover, the company was seen to have been extraordinary active in political lobbying – with large numbers of legislators close to the company in one way or another. This fact had not been enough to save it, but raised...
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...1) INTRODUCTION (FASB 2012) & (Cooper, D. J., Et. Al., 2005 I) The Accountancy Profession (a) Accountants benefits the economy and society by contributing to the efficient allocation and management of resources. (b) Contribute to the growth of individual companies. (c) Promote financial market performance, through the reporting of, and providing assurance on, financial information. i) Needs For Regulation (d) Response to the need for certain standards to be met by the members of that profession. (i) Regulation seeks to ensure the right quality and, where appropriate, consistency in the quality of accountancy services. ii) Benefit Of Regulation (e) Knowledge imbalance between the client, who is acquiring accountancy services, and the provider. (f) Impact On Third Parties. iii) Characteristics Of Good Regulation (g) Areas that regulation of the accountancy profession typically cover (h) The value of ethical behavior. iv) A Shared Approach To Regulation (i) Roles government . (j) Role of professional accountancy organizations. v) Current Regulatory Environment (k) Global adoption and implementations of international high-quality technical and professional standards. (l) External regulation of the market for audits...
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...the tail represents the media. Other would say that, the tail symbolizes political campaigns and the dog is the media. But sometimes, the dog is the people and the tail is the government. So, Coppens stated that the phrase “tail wagging the dog” is the same as “any case where something of greater significance (such as war) is driven by something less (such as sex scandal)”. Moreover, it was believe that the moment before the start of the press conference in which Monica Lewinsky was about to give information of her presence in the Congress, White House announced the missile strikes against Sudan and Afghanistan. Critics argue that the operation was made to draw away the publics’ attention from the scandal of Clinton and Lewinsky. Barry Levinson’s film was a product of inspiration from the book of Larry Beinhart, American Hero. American Hero was about President George Herbert Walker Bush and Desert Storm, a fake war and the first war in Iraq. Bush planned the Persian Gulf to guarantee re – election in 1992, but he failed. Situational Analysis Parallelism Conclusion Personal Learning and Insights References Ebert, Roger. Wag the Dog. Feb. 24, 2009. http://rogerebert.suntimes.com/apps/pbcs.dll/article?AID=/19980102/REVIEWS/801020302/1023 Coppens, Philip. _Conspiracy Times: Wag the Dog._ Feb. 24, 2009. http://www.philipcoppens.com/wagthedog.html Lu, Mimi._ Movie Analysis: Wag the Dog (1997)._ Feb 26, 2009....
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...It is widely regarded that countries with overlapping national and provincial governments must have upper and lower houses in their legislatures to ensure fairness among the regions of the country and to prevent an imbalance of power. This concept was referred to by Canada’s first Prime Minister, Sir John A. MacDonald, as the “sober second thought”. It is submitted that in today’s legal and political environment, Canada does not need a Senate to have its government function fairly, honestly and efficiently due to the procedures of the House of Commons. The Senate should be abolished for the reasons noted below. Firstly, the costs of operating the Senate have become extremely high, and there does not appear to be any political will to change this. Second, in spite of numerous half-hearted attempts to reform the Senate, senators are appointed by the Prime Minister and not...
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...Political forces. The political forces within the United States and many other parts of the world are strong right now. A lot of people have unyielding political opinions and are aligning their spending with companies that adhere to their beliefs. Nike recently became the first company to highlight an openly trans male athlete in a commercial. While a push to be inclusive, this did make a political statement and can lead to loss of business. In addition to their marketing decisions, Nike may also receive negative impact from its associations with various athletes or sports organizations. One example of this is the backlash from the FIFA scandal in 2015. Although Nike was not an official sponsor of FIFA, many believed that Nike was involved in the scandal due to the sponsoring or athletes that were later seen as bribes (Hobbs,...
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