John majors government came into office after the downfall of Margret Thatcher, which ultimately created divisions within the party. Not only did the party suffer from the internal conflict but also faced the problems of the recession after the ‘Lawson boom’. In order to stabilise the economy he joined the ERM getting a good deal but ultimately resulting in ‘black Wednesday’ causing Major to raise interest rates to 15%. This was political suicide and he soon lost the support of the press we had once relied so much on to get re-elected in 1992. The housing market also plummeted leading to negative equity, which the majority of the working class could not afford resulting in the repossession of their houses combined with the drastic increase in unemployment Britain was in a mess.
There are not enough regulations and monitoring system for the daily accounting activities. For instance, management and auditors spend very little time reviewing the insignificance of petty cash account. So the five elements of internal control is not work well in this company. The control environment was not effective; there was no effective risk management, which helped the company to realize its objectives; control activities and monitoring are lack. Moreover, the CEO is ultimately responsible for the internal control who assumes primary responsibility for the system of internal control.
Frontier hero: 1) Spoils system a. Gave those who were common and poor a chance to have a say in government 2) He was rags to riches b. Made it from the bottom to the top 3) Veto Bank of the U.S.A c. Unconstitutional d. Monopoly on other banks e. Shouldn’t have Europeans on Board f. Inflation would help those who were poor- that’s what getting rid of bank would do because it would keep the currency stable
American citizens pressured the government to regulate cooperations and trade in order to stop them from creating pools, make use of rebates, the monopolization of trade, and take advantage of the consumers which violated lassie faire ideas to a slight degree. Even though the regulations were small and did little to solve the problems presented by the people, it set the precedent for larger and stricter regulations to come into play in the future generations. American citizens also pressured the government to help preserve healthy competition in the business world but only to a minor degree. All of these actions changed the standards of what the government can do in the world of economics forever. Railroad expansion was relatively new during the gilded age.
The unemployment was on the rise, and the job market was declining at a high rate. This was going on before he got in the White House. I feel like it is up to the owners' to stay or leave. Companies are taking their businesses overseas to have employees work for lower salaries, paying lower tax rates, better tax credit, or to have more money in the their pockets. Some businesses feel like they are not making money here in the United States.
Which Wall Street did not have in place or this would have never happen. Their virtues are money, how much they can get no matter what it costs others in the long run. Proof of this is the bail out that the taxpayers paid for. And that the government had to step in to or the economy would have been even worst. (Still think we are in a Depression not a rescission) Also the CEO of Enron for conspiracy and multiple counts of fraud is one example of dishonesty, fraud, disregarding one professional responsibility by given themselves Astronomical salaries and enormous benefits this reduces profits of the stockholders, who own the company.
Individuals are losing jobs and the government have to spend more money of benefits. They collected back less from taxes and VAT. Businesses are cutting back on productions but for some customers is good if they have money because the prices are falling as well as inflation. At the boom stage the GDP (Gross Domestic Product) are the values of
Because of this, they endured more and more prejudice. Old traditional industries The traditional industries failed to respond to the new mass-production methods of the 1920s, unlike the Ford company that was making a good profit and could pay impressive wages. Also, following a reduction in the powers of Labor Unions (Trade Unions), the workers were not in a position to be able to claim better wages and working conditions in the old industries. * Coal - Coal prices fell and thousands had to be made redundant because the industry was producing too much coal and not enough people and countries wanted to buy it. * Ship building - Another major industry that had to make thousands redundant due to a reduction in the demand for new ships.
670-677 3. The economic trends in the 1920's led to the great depression because people bought lots of things on credit that they couldn't afford there for they could pay back the loans and so the businesses took back the merchandise but could not resell them because it was used, therefor the businesses lost money and slowed production and cut back workers. So now there were less people employed and many businesses went out of businesses and then lots of people lost tuns of money in the stock market crash. 4. I think that the economy needs some confidence because when there is to little confidence there is not enough money in banks, or invested .
There was also a lack of communication amongst FEMA and ARC, which contributed to slow response times in both instances (347). ARC has a policy in place on screening volunteers; however, they failed to follow their own procedures during Hurricane Katrina, which ultimately resulted in mismanagement of donated funds to the organization. This caused investors to question if they should remain loyal to such an unethical organization. Customer satisfaction was low and citizens started to wonder whether or not they should continue to donate to cause. The organization relies heavily on donations from both the public and private sectors, therefore the actions of the organization that occurred after these disasters could result in a decline in their bottom line.