Reaction paper on the article by droogsma Essay Example | Topics and Well Written Essays - 250 words

Reaction paper on the article by droogsma - Essay Example Their response contradicted with the unfounded perception of the Non-Muslim members. The women highlighted various significant aspects of the veil. Droogsma explains the veil to be critical in displaying one’s identity while highlighting their affiliation to the Muslim religion. However, one’s clothing may be a source of discrimination (Droogsma, 2007). The Muslim veil also served as a behavior control to Muslim women. Veiled Muslim women were less likely to behave inappropriately as opposed to their unveiled counterparts. Interviewed women admitted that the veil aided in upholding the Muslim values, such as behaving decently in the presence of members of the opposite gender (Droogsma, 2007). This aided them in earning respect from both Muslim and Non-Muslim members of the society. In my view, it is critical for the societal members to respect the Veiled Muslim members, and look into their rationale for wearing the veil. Some researchers also script biased document that tend to criminalize the veil while ignoring the opinion of the concerned Muslim women (Droogsma, 2007). Mitigation measures ought to be in place, to eliminate the discrimination of the Muslim women within the American society. However, the decision to put on the veil should be personal, and religion should compel women into putting on the

Financial Crisis and Their Possible Solutions Essay

Financial Crisis and Their Possible Solutions - Essay Example It is evidently clear from the discussion that financial crisis affected most parts of the world. It began in the US after the Difficulties in the US submarine market that had rapidly rocketed and spilled all over the world. Bordo et al find that the frequency of the financial crisis is higher than the previous one and can be comparable only to the Great Depression. It had detrimental impacts on different sectors of the economy in all countries. Reinhart, Reinhart and Rogoff have, in the past years documented the effects of the banking crisis that are typically proceeding by credit booms and asset price bubbles. They note that on average 35% real drop in housing prices stretch over a to almost six years. Equity prices fall over 55% over a period of 3 years, while output in those countries fall by 9% in two years, unemployment increases by 7% in four years while an 86% debt increase based on the pre-crisis level. Many models have documented the effects of the financial crisis. Adrian and Shin, Brunnermeier have documented a thorough review of the events preceding the financial crisis in late 2007 and early 2008. They note that the seeds of financial crisis can be traced back to the low interest rates policies adopted by the Federal Reserve and other world central banks after the collapse of the technology stock bubbles. The need for the debt securities by Asian banking institutions aided in fuelling the economic crisis. Acting as financial intermediaries, banks channel funds to potential investors. Through the process of borrowing and lending, they benefit from a diversified portfolio of risk sharing. They also act as monitors (Diamond, 1984) and streamline loans to well-organized customers (Gorton and Kahn, 1994) and other vital roles in maturity transformations. This implies that in crisis, every banking institution becomes concerned. For instance, Dell Aricia and Rajan (2008) provide that banks’ grief contributes to a decline in credit and low GDP .Fur ther evidence provides that those sectors, which heavily depend on external financing, perform relatively dismal during the banking crises. These effects are stronger and severe in developing countries. In addition, the report note that over the last two decades, banking sector continues to be complex in its modes of operations. For instance, banks use various instruments to hedge risks. However, despite the complexity banks have remained sensitive to the panics and runs. Gorton (2008) note that holders of short-term liabilities feared to fund banks as they the anticipated losses in the sector could have in their securities. The recent research proposes two theories to give a tentative explanation on the causes of the bank panics and runs. One argues that panics are undesirable events caused by random withdrawals unrelated to the changes in the real economy. Bryant (1980) and Diamond and Dybig (1983) note that agents have uncertain needs that relates to consumption. If other deposit ors believe and can even further establish the slightest of evidence, then all the agents will find it rational and imperative to redeem their claims from banking institutions and will cause the panics and banks’ runs. Another theory explains that banking crises are natural outgrowth of the business cycle. An economic slump will reduce the value of the bank resources, heightening the possibility that banks are unable to meet