Introduction
介绍
雷曼兄弟破产对市场影响代写 World for years to come. There are still many countries which are trying to struggle out of the effects of this event.
The case of Lehman Brother’s bankruptcy is one of the most famous cases. That created a domino effect and led to an economic crisis that would affect the .
World for years to come. There are still many countries which are trying to struggle out of the effects of this event. It wasn’t just about Lehman Brothers collapsing though. It was more about what the authorities were doing .When this was happening and why did they let it take place. Many people are of the opinion that had the issue been addressed earlier. Then this would never have happened and the government could have bailed out the bank, but it didn’t.
In my opinion, the decision of the banks to start lending money to people .Who did not have a strong credit history or provide proper documentation was flawed to its very core. Any logical person would know that this was going to cost the bank millions. As people are likely to disappear with the money or default on their payments. And as stated previously, when the prices sky rocketed, the borrowers started defaulting with their payments. And when the bank came down on them. Trying to pressurize them to pay up, they gave back the properties they had taken out on mortgage instead of paying the money which they did not have. Eventually the situation got so worse, the many banks were acquired by others, whereas, others liked Lehman filed for bankruptcy.
雷曼兄弟破产案是最著名的案例之一。这造成了多米诺骨牌效应,并导致了影响 .
未来几年的世界。仍有许多国家正在努力摆脱这一事件的影响。不过,这不仅仅是雷曼兄弟倒闭的问题。更多的是关于当局正在做什么。这件事发生的时间以及他们为什么要让它发生。很多人都认为这个问题早点得到解决。那么这将永远不会发生,政府本可以救助银行,但事实并非如此。雷曼兄弟破产对市场影响代写
在我看来,银行开始向没有良好信用记录或提供适当文件的人放贷的决定在其核心上是有缺陷的。任何合乎逻辑的人都会知道这将使银行损失数百万美元。因为人们可能会带着钱消失或拖欠付款。如前所述,当价格飙升时,借款人开始拖欠还款。当银行对他们下手时。为了迫使他们还款,他们将抵押的房产归还,而不是支付他们没有的钱。最终情况变得更糟,许多银行被其他人收购,而其他人喜欢雷曼兄弟申请破产。
So, why was Lehman’s bankruptcy and closure such an immense hit to the economy?
It was because the bank was considered to be one of the biggest investment banks of the United States. And had contributed much to the economy. The bankruptcy of the bank came as a huge blow to the US economy. And while the government could have bailed it out, it did not. Much to the people’s dismay, even the organizations that were hired to conduct audit of the company way before any of this happened, failed to report what was really going on with the bank. Which could have prevented Lehman Brothers demise.
Thesis
When one of America’s largest investment banks’ Lehman Brothers fell on 15 September in the year 2008.. It was the largest bankruptcy ever, and to date it still is. The bank had assets of $639 billion, five times more that of the biggest bankruptcies that followed (Investopedia Staff, 2010). It can be agreed that the nature of investment banking is such, that there will always be a tradeoff between risk and returns. However, the steps taken by the bank during the years prior to its collapse were foolish and thus.The resulting doom could have been anticipated.
那么,为什么雷曼兄弟的破产倒闭对经济造成如此巨大的打击?
这是因为该银行被认为是美国最大的投资银行之一。并为经济做出了很大贡献。该银行的破产对美国经济是一个巨大的打击。虽然政府本可以救助它,但它没有。令人们大失所望的是,即使是在这一切发生之前受雇对公司进行审计的组织,也未能报告银行的真实情况。这本可以阻止雷曼兄弟的灭亡。 雷曼兄弟破产对市场影响代写
论文
当美国最大的投资银行之一的雷曼兄弟在 2008 年 9 月 15 日倒闭时……这是有史以来最大的破产案,迄今为止仍然如此。该银行拥有 6,390 亿美元的资产,是其后最大破产案的五倍(Investopedia Staff,2010 年)。可以同意,投资银行业务的本质是风险和回报之间总是存在权衡。然而,银行在倒闭前几年采取的步骤是愚蠢的,因此,由此产生的厄运是可以预料的
The thesis that I have presented in my previous assignment was that the bankruptcy of Lehman Brothers could have been avoided had the authorities involved taken the right course of action.
It was their moral obligation to do so, but they failed. I stand by this premise. And I would like to add that had they focused on what was ethical then they would have alerted the government and the FBR. Along with the Federal Reserve Bank that Lehman Brothers books show that the bank is on its way to collapsing unless something is done about it. Many experts are of the opinion that had the people at that time not been lax about this issue, then it could have easily been prevented.
Based on virtue ethics which states that an action is right, if and only if, it is similar to how a virtuous agent, purely out of habit and character, decides to do (Rosalind Hursthouse, 1999). The company should have made the public aware that it was in trouble much earlier. And perhaps the outcome could have been different. The authorities had been involved earlier and they could have reported the audit reports. Which clearly indicated that the bank’s liabilities had increased to the point that its assets were not enough to cover them.
我在之前的任务中提出的论点是,如果有关当局采取正确的行动方案,雷曼兄弟的破产是可以避免的。
这样做是他们的道德义务,但他们失败了。我支持这个前提。我想补充一点,如果他们关注什么是道德的,那么他们就会提醒政府和 FBR。与雷曼兄弟账簿上的联邦储备银行一起表明,除非采取措施,否则该银行正在走向倒闭。很多专家都认为,如果当时的人对这个问题不松懈,就很容易避免。
基于美德伦理学,该行为是正确的,当且仅当,它类似于一个纯粹出于习惯和性格的有德行者决定做的事情(Rosalind Hursthouse,1999)。该公司应该更早地让公众意识到它遇到了麻烦。也许结果可能会有所不同。当局较早介入,他们本可以报告审计报告。这清楚地表明该银行的负债已经增加到其资产不足以支付它们的地步。 雷曼兄弟破产对市场影响代写
Objection to the Thesis
Some may say that the events that unfolded after the collapse of Lehman Brothers and those leading up to the event were actually not in the control of anybody. And thus could not have been thwarted. The problem that presided at that time was lack of transparency on part of the bank and the fraudulent activities conducted by other involved parties together with Lehman.
This event helped in identifying the problems with the system and also enabled the government and other legislative bodies to introduce policies and procedures. Which will prevent this situation in future. The problem was that there was no correlation between the regulation and the arrangements of action management (Chadha P., 2016). This downfall actually resulted in identifying the deficits in United States regulatory system. Additionally, it also was something that could not have been avoided because the parties involved at that time were more focused on getting more and more customers on board. As this high risk policy actually yielded amazing results, and the teams were rewarded accordingly.
反对论文
有人可能会说,雷曼兄弟倒闭后发生的事件以及导致事件发生的事件实际上不受任何人的控制。因此不可能被阻止。当时主持的问题是银行部分缺乏透明度,以及其他相关方与雷曼兄弟一起进行的欺诈活动。
该活动有助于确定系统存在的问题,并使政府和其他立法机构能够引入政策和程序。这将防止将来出现这种情况。问题在于监管与行动管理安排之间没有相关性(Chadha P.,2016)。这种垮台实际上导致了美国监管体系的缺陷。此外,这也是无法避免的事情,因为当时涉及的各方更专注于吸引越来越多的客户。由于这种高风险的政策实际上产生了惊人的结果,团队也得到了相应的奖励。
While yes, it is easy to say that the events could have been foreseen and thus could have been avoided, however.
There are times when a person’s view becomes myopic when they are in a situation, and this is exactly what happened with the parties involved. Nobody believed that a bank as big as Lehman Brothers could collapse, especially with the amount of assets it held. They also could not have predicted this happening as they expected the bank to bounce back from its slump years. Therefore, the events that unfolded through the years could not have been prevented, however, they did offer a lesson to all those who were affected by it. Additionally. It also created an opportunity which identified the loopholes and drawbacks of the system, thereby, ensuring . That new practices were introduced. Which were aimed at ensuring that something similar does not occur again.
虽然是的,但很容易说这些事件是可以预见的,因此可以避免,但是。
有时,当一个人处于某种情况时,他们的观点会变得短视,而这正是所涉及的各方所发生的情况。 没有人相信像雷曼兄弟这样大的银行会倒闭,尤其是在其持有的资产数量方面。 他们也无法预测会发生这种情况,因为他们预计该银行会从低迷时期反弹。 因此,多年来发生的事件无法阻止,但是,它们确实为所有受其影响的人提供了教训。 此外。 它还创造了一个机会,可以识别系统的漏洞和缺点,从而确保 . 引入了新的做法。 其目的是确保类似的事情不再发生。 雷曼兄弟破产对市场影响代写
Rebuttal of the Objection
While some are of the opinion that the bankruptcy of Lehman Brothers could not have been avoided, I beg to differ. There were many indication that something was terribly wrong and the lack of transparency in terms of documentation of the borrowers should have been the biggest cause for alarm. Additionally. The practices employed by the bank actually gave rise to the notion. That it was ok and acceptable to actually take part in such practices and the employees considered that decisions to provide loans was at their own discretion. Such irresponsible lending practices were what created the problems in the first place. And these were identified when Lehman Brothers started incurring losses and the auditing firms got involved.
However, actions were not taken in due time. Which eventually led to the collapse of the bank and thus a trickle-down effect was created in which millions of lives were affected. Countries whose currency was directly pegged to dollar suffered more than those whose currency was not pegged, however, they too were affected to some extent. An extensive view of markets, assuming they could auto correct themselves and an inadequate appreciation of the risks of deregulation. Led to weaker principles and regulatory breach (Chadha P., 2016). Incentives were increased immensely which led to unwarranted actions by the employees, especially where risk taking was concerned.
Therefore, while some say that the event could not have been avoided, I still strongly feel that it could have been avoided had the alarm bells been heard by the parties involved. However, every party was more concerned about their own interests instead of actually preventing the situation from turning sour.
异议的反驳
虽然有些人认为雷曼兄弟的破产无法避免,但我不同意。有许多迹象表明出现了严重错误,借款人文件缺乏透明度应该是引起恐慌的最大原因。此外。银行采用的做法实际上产生了这一概念。实际参与此类实践是可以且可以接受的,员工认为提供贷款的决定是由他们自己决定的。这种不负责任的借贷行为首先是造成问题的原因。当雷曼兄弟开始蒙受损失并且审计公司介入时,这些就被确定了。
但是,没有及时采取行动。这最终导致了银行的倒闭,从而产生了涓滴效应,数百万人的生命受到影响。货币与美元直接挂钩的国家比货币不挂钩的国家遭受的损失更大,但它们也受到了一定程度的影响。对市场的广泛看法,假设它们可以自动进行自我修正,并且对放松管制的风险认识不足。导致更弱的原则和监管违规(Chadha P.,2016)。激励措施大幅增加,导致员工采取不必要的行动,尤其是在涉及冒险的情况下。
因此,虽然有人说事件无法避免,但我仍然强烈认为,如果有关各方听到了警钟,它是可以避免的。然而,各方更关心的是自己的利益,而不是真正防止事态恶化。
Conclusion
To conclude, it can be said that the actions by Lehman Brothers not only adversely affected the entire economy of not just the United States of America . But also the rest of the world. It was also something that could have been avoided. I continue to question why the government did not decide to bail out the bank. As it could have prevented the severity of the situation, if not all of it. While many people are of the opinion that the resulting consequences were something that could not have been avoided. I still feel, that they could have been, had the right actions been taken. And the authorities involved had taken steps to prevent the downfall of one of the greatest investment banks.
Many people believe that the event of such a large scale could not have been avoided. However, it begs the question that why were loans provided to people with low credit ratings or no documentation at all. The entire problem lay in the practices of bringing in business. And the incentive system actually encouraged the use of risky practices. Therefore, it can be concluded that the bank knew what it was doing and thus should be held accountable for its actions. While at the same time, it begs the question why. The involved authorities fail to take the right course of action and highlight the problems the bank was facing?
结论
综上所述,可以说雷曼兄弟的行动不仅对美利坚合众国的整个经济造成不利影响。但也是世界其他地方。这也是本来可以避免的事情。我继续质疑政府为什么不决定救助银行。因为它可以防止情况的严重性,如果不是全部的话。虽然许多人认为由此产生的后果是无法避免的。我仍然觉得,如果采取了正确的行动,他们本来可以。相关当局已采取措施防止最大的投资银行之一倒台。
许多人认为,如此大规模的事件是无法避免的。然而,它回避了一个问题,为什么要向信用评级低或根本没有文件的人提供贷款。整个问题在于引进业务的做法。激励制度实际上鼓励了冒险行为的使用。因此,可以得出结论,银行知道自己在做什么,因此应该对其行为负责。同时,它回避了为什么的问题。有关当局未能采取正确的行动并突出银行面临的问题?雷曼兄弟破产对市场影响代写
References
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