SB 1070; Is It The Right Law or Not Essay - 1055 Words

Immigration is an issue that some sought to resolve in both violant and nonviolent manners. most of the time people think the government does not take the measures to tackle the problem at hand. â€Å"The responsibility that the state has toward the rights of its citizens. Illegal immigration directly violates some of these rights.† (The Police Should...) In order to enforce the law, police and other law enforcement groups must push to protect the right of the citizens. Also illegal immigrants take advantage of the system by being â€Å"granted privileges such as jobs, and moreover they are being given security, schooling, healthcare and other services financed by american tax dollars.† (The Police Should...) Not only that; over 7.7 million jobs†¦show more content†¦The next question is why is racial profiling is used in identifying illegal immigrants. As a matter fact, it is the most effective way to identify illegal immigrants. In 1954 US INS began â€Å" Operation Wetback, which was intended for to remove one million illegal immigrants from the southwestern U.S. through use of racial profiling, ending up removing near the one million illegal immigrants targeted.† (The Police Should...) With that said , â€Å"giving this criteria of power to the cops would definitely raise the percentage of illegal immigrants caught in the country, just for giving them the right to act when they feel they need to.† (The Police Should...) by the way the fact of a bill like that passing will deter them enough to send them back to their home country. By the way U.S. tax dollars are used to pay for public servants like police officers and border patrol. So like any other controversial act that has people for it...it has people against it, or â€Å"against† immigration reform. As a matter of fact what is a legal document? Birth certificate, social security,drivers licence? They are all just documents that are issued out to you by government that doesnt prove anything about your identity. The main problem is that the police are becoming minuteman, due to the fact that they are violating the fourth and fifth amendment by demanding and arresting citizens whoShow MoreRelatedArizona Immigration Law (SB 1070) Should be Abolished1589 Words   |  7 Pagesnew law of Arizona was created. What does law means? Law is a set of rules established by a governing authority to institute and maintain orderly coexistence (Merriam Webster’s). A new law named SB 1070 has been written with hostile points that threats human rights. Thousands of illegal immigrants were force to return back to their countries. I admit that illegal immigrat ion is a Federal Government crime, but SB 1070 is a discriminatory law against Hispanics. I believe Arizona’s Law SB 1070Read MoreImmigration Laws : Arizona Anti Immigration Law1222 Words   |  5 PagesSB 1070: Arizona Anti-Immigration Law Introduction and Summary SB 1070 Anti-Immigration Law was passed by Arizona legislators and signed by former Arizona Governor Jan Brewer in early 2009 when another former Arizona Governor Janet Napolitano became Secretary of Homeland Security under President Barack Obama’s administration (Morse, 2011). After Jan Brewer took office, she was looking for ways to strengthen the anti-immigration laws. Former Arizona State Senator Russell Pearce was attempting to findRead MoreEssay on Arizona Bill 1070: All States Should Enact Similar Laws1366 Words   |  6 Pagesas Arizona Bill 1070, requires all aliens to carry their registration documents at all times. 1070 makes it a state misdemeanor for an alien to be in Arizona without carrying the required documents and bars state or local officials or agencies from restricting enforcement of federal immigration laws. It also cracks down on those sheltering, hiring and transporting illegal aliens. The United States government should implement this bill at the fed eral level. The proposal of the law was brought toRead MoreSupport Our Law Enforcement and Safe Neighborhood Act1560 Words   |  6 Pages‘addressed’ by Arizona’s infamous SB 1070 are currently at a standstill. By changing ways in which opposing parties view the ‘issues’ of illegal immigration in the United States and the effects caused by SB 1070, there is hope for the advancement of not only Arizona’s struggle with immigration, but an overall, positive nation-wide response towards all factors concerning current United States immigration. On the 23rd of April 2010, Governor Jan Brewer signed the Support Our Law Enforcement and Safe NeighborhoodsRead MoreThe State Of Arizona Should Abolish The Sb1070 Law936 Words   |  4 Pagesimmigration problems. Arizona s anti-immigrant law, S.B. 1070, Lets Police ask the immigration status of anyone arrested or detained if they suspect that the person is not in the U.S. legally. with this new SB 1070 law it makes it so it is a crime to be caught without papers in the state of Arizona. The state of Arizona should abolish the SB1070 law. Let’s begin with the negative effects of the SB 1070 law. Racial discrimination, that’s exactly what this law is doing to Hispanics, it is racially discriminatingRead MoreArizona Sb10701187 Words   |  5 PagesArizona has enforced the new senate bill 1070 which gives the police authority to check immigration status when enforcing other laws. SB1070 is supposed to cut the down on the illegal immigrants in Arizona by having immigrants carry immigration papers, or will be held until proven their status in the USA. The more they try to secure the border with bill 1070 the more they end up taking away simple constitutional rights of the citizens. The senate bill 1070 that has been passed is causing racial profilingRead MoreAnalysis Of Sb 1070 : Making Our Neighborhoods Safe1271 Words   |  6 PagesSB 1070: Making Our Neighborhoods Safe America can be described as a melting pot of different nationalities coming together as one. Most everyone who lives in America either comes from a different country or their ancestors came to America looking for opportunity. Since America is made upon the immigrants that arrived in our country years ago, we would think that we would have an open door policy for everyone today. Well as we know immigrants don’t arrive at Ellis Island anymore walking off a boatRead MoreThe Immigration Law Enforcement And Safe Neighborhoods Act ( Arizona Senate Bill 1070 )3640 Words   |  15 Pagesharshest immigration law in history. Astonishingly, this law wasn t formed by our Federal Government, but by the Arizona State Senate in hopes of curtailing the ever growing population of illegal immigrants who are smuggled into the United States, come legally and overstay their visa, or come in hope of a better life. This writing will investigate the social construction and the circumstances that lead to atrocity surrounding the initiation of a long list of Arizona immigration laws. Secondly, theRead MoreThe Immigration Laws Should Be Repealed2465 Words   |  10 PagesPaolo S. Mutia J. Richardson AP Government 2nd Period 11 March 2015 Currently, one of most debated policy issues in America is immigration. Starting with the Chinese Exclusion Act of 1882, the American government created several immigration laws that sought to put an end to illegal immigration by mandating workplace regulations, employer sanctions, internal enforcement mechanisms, and border security (Nowrasteh 2). According to immigration policy analyst Alexander Nowrasteh at the Center of GlobalRead MoreThe Enactment Of Arizona Immigration Laws1241 Words   |  5 PagesA.Thesis statement: The enactment of Arizona immigration laws is the result of long-standing structural racism effects, and the practice of these laws leads to unconstitutional racial profiling concerns that target the Latino community on the basis of ethnicity. B. Description of paper / argument: a. In this paper, I will first discuss the historical development of structural racism in Arizona. b. Second, I will examine and analyze Arizona’s current immigration policies. c. Finally, I will

Music And Its Impact On Music - 1534 Words

Since the early days of human existence, sweet sounds of music have brought joy to the human race. However, throughout time, music seems to have taken a bit of a detour as progress is concerned. Music gradually became more complex and advanced as the centuries progressed. On the other hand, recently, music seems to have deviated from its steady ascension toward the next, more advanced stage. Has there been a recession in the complexity and overall â€Å"magic† of music? Personally, I believe that there is a lot of truth to this concept of â€Å"relapse†. Over the course of musical expression, inventions of different instruments and music theory concepts were created and used to benefit the science and progression of music through time. Throughout each period of music that we studied, the music changed based on the culture and the technology that was prevalent within its respective time period. Music found in the baroque period, for instance, is very complex and involves the use of several different musical voices. When we look at a lot of the mainstream music of modern day, it is very easy to realize that we have definitely taken a step backwards. Nowadays, the popular â€Å"musical artworks† that are being released lack complexity or any kind of variation at all. Modern pop music has really hit a stand still. One of the most characteristic aspects of a modern pop song is the repetition that is used throughout most songs. Honestly, anyone who has a decent ear for musicShow MoreRelatedThe Impact Of Music On The Music1386 Words   |  6 Pageshow music was seen and listened to. Before the phonograph, music was played live and performers communicated with audiences expressively, through facial and bodily gestures. The phonograph, as Mark Katz argues in Capturing sound, introduced the phonographic effect—(in)visibility. With recorded music, the performer and the listener were separated; they were oblivious of each otherâ⠂¬â„¢s physical qualities. For colored artists separating race from music, essentially making race irrelevant in music, becameRead MoreMusic And Its Impact On Music1431 Words   |  6 PagesWithout music the world wouldn’t be the way it. Music has changed the way people have looked at others, have acted, and how they see the world today. From the beginning of music when it came from banging on something to make their own beat. Music became a hideout for people when they needed a place to send their mind. Musicians are the biggest part of music and making it the way it is. Certain musicians changed the way people started to look at music in the 60s. The 60s were a time for standing upRead MoreImpact Of Rap Music On The Music870 Words   |  4 PagesThe most broadly excepted meaning of rap music is talked words with a mood of bass, drums, and console sounds. The words are talked over the music and the stresses and attention on words is vital. Hip Hop is characterized as the g oing with ambient melodies however is frequently utilized as an issue to rap music. In this paper I will demonstrate how rap got its begin and developed into the society we know today as hip bounce. Impacts on rap music began as right on time as the 1940 s when RhythmRead MoreMusic And Music : The Impacts Of Music In Globalization1162 Words   |  5 Pages Music in Globalization Esmael Abofakher ILSC Toronto â€Å"When words fail, music speaks.† Shakespeare, that’s what put the music on the top of the global languages for connecting people to each other however from any countries belong. Globalization of Music is very important because music is global language, makes people closer and music as treatment for many people. I. Music is global languages between all the people around the world. A. Music is the universal language of all mankindRead MoreThe Impact Of Music On The Music Industry931 Words   |  4 Pagestechnology is actively changing the music industry. Production, distribution and sales of music have been affected dramatically within the last 10 years along with artists, composers, and technicians. Most of the changes have been great for consumers, but vastly negative for professionals in the music industry, however a few artists have found ways to adapt to the changing atmosphere of digitally downloaded music and use it to their advantage. We’ve seen music change form from physical, tangibleRead MoreMusic s Impact On The Music Revolution1729 Words   |  7 Pageskey aspects which are: the venues music was made in, the way the audience listened to the music, and the way the music was disseminated. These are unique in that there is no clear separation between them and at times some of the changes that have been made can impact all three at the same ti me. The age in which we live in is experiencing all of these aspects to one degree or another. It is difficult for someone my age to understand that we are living in a music revolution the likes of which hasRead MoreThe Impact Of World Music On Music And Culture1168 Words   |  5 Pagesworld music and globalization. According to Bohlman, world music is music people face ubiquitously, and includes popular, folk and art music practiced by either professionals or amateurs; it may be Western or non-Western, acoustic, electronic, and so on. Bohlman notes that world music can be marketable, profane, or sacred, and that musicians may highlight genuineness while greatly relying on media to propagate it to as many markets as they can. The consumers of world music may accept the music as howeverRead MoreThe Impact Of Digital Music On The Music Industry896 Words   |  4 Pagesdownloads. Threatening the survival of the music industry and introducing a unique set of challenges for the indus try to overcome. To remain relevant in the new global market of digital music online, the music industry would have to evolve and change with the introduction of each new facet technology had to offer. The introduction of digitally compressed music files, so easily attainable for a small fee or downloaded legally (pirated) for free, made the music industry reevaluate how to make a profitRead MoreMusic Appreciation: The Impact of Music on Mood949 Words   |  4 Pagesinvestment in music derives from its ability to convey emotions(Gebauer, Kringelbach and Vuust 2012.) Studies have implied that music can elicit basic emotions such as happiness (Gebauer, Kringelbach and Vuust 2012.) Music with a fast tempo and major mode are considered and reacted to as happy music, while music with slow tempo and minor mode are deemed sad(Gebauer, Kringelbach and Vuust 2012.) This effect was shown through fMRI imaging while listening to different genres of music and participantRead MoreDigital Music And Its Impact On The Music Industry1807 Words   |  8 PagesDo you listen to music from CD’s, or do you prefer listening from your phones, computers, etc? The internet is now widely available via computers and phones, as well as other devices. Furthermore, it is becoming easier and simpler to listen to music through these products rather than from a separate disc. Digital music began when iTunes was first published in 2007. Moreover, iTunes revolutionized the music industry because it allowed people to purchase single songs rather than a whole album, and

Difference between Judicial Activism and Judicial Essay Example For Students

Difference between Judicial Activism and Judicial Essay Restraint Our American judiciary branch of the federal government has contributed and molded our American beliefs in this great nation. This branch of government is respected because of the code of conduct that the judges, no matter how conservative or liberal. The language of the court as well as the uniform of the cloaks that judges wear has most probably contributed towards this widespread respect. Throughout the history of the United States, I noticed a pattern of cause and effect that our judiciary branch had practiced. I noticed that the judicial branch usually restrain themselves from involving in critical civil policy, but will be active when the time comes when the general public, in which the case is decided, feels a change is needed. We have enough evidence to see how our judicial branch should act. Should the judicial branch be more active towards shaping American policy or restrain as long as possible before being forced to act upon very critical civil policies? Judicial activism is the view that the Supreme Court should be an active and creative partner with the legislative and executive branches in shaping government policy (Wasserman American Politics 138). The believers of this philosophical view of how our judicial branch should be suggest that the Supreme Court more active and participate in molding the policies of American society. It can be argued that during the end of the Civil War and the Separate but Equal era, in cases such as the Brown v. Board of Education, Baker v. Carr, Missouri ex. Rel. Gaines v. Canada, and Sweatt v. Painter. The more recent, Bush v. Gore case is a fine example of judicial activism. Judicial Restraint, on the other hand, is the idea that the Court should not impose its views on other branches of the government or the states unless there is a clear violation of the Constitution (Wasserman American Politics 138). Judges, who believes in this form of our court system, say that a passive role of the court is preferred and that the other branches of the government should paved the way for policy and civil case changes. In the course of our history, cases, such as Dred Scott v. Sandford and Plessy v. Ferguson, are ample examples of judicial restraint. Prior to the Civil War, the Supreme Court was practicing judicial restraint. Any case regarding policy changes in civil opinions were restrained and given the ruling of stare decisis. Under the leadership of Chief Justice John Marshall, however, we observed that the Supreme Court began to participate in its interpretation of the Constitution and making its ruling the law of the land. I strongly believe that these changes have made our country a better nation, but is judicial activism necessary? In the case of Bush v. Gore, the Supreme Court, in my opinion, acted without much regards to the consensus of to the popularity of Al Gore. The arguments for judicial activism are that it helps change civil policies promptly, but are these changes too hasty? Many people believe that judicial restraint hurts growth, both socially and economically. Changes or improvements towards the civil and criminal justice only come as a last minute change when so much damage has occurred to the precedent parties. Modern courts are not easily identified as active or restrictive. Former President, Ronald Regan, appointed William Rehnquist, the current chief justice of the U.S. Supreme Court, into his current position. Regan and the Republicans had hoped that with Rehnquist in office, the U.S. justice would be conservative in its decision, meaning restraint when it concerns laws that are Republican by nature, and active when cases brought into court are Democratic by nature. However, I believe the current court has been relatively restrained. The affirmation of the right to an abortion and allowing the burning of the American flag as a symbol of freedom of speech, in my opinion, are acts of judicial restraint. Conclusively, I believe our judicial branch should remain restrained. I believe that the U.S. .u7b9aba58d2fc6053438564afd8e5c8d6 , .u7b9aba58d2fc6053438564afd8e5c8d6 .postImageUrl , .u7b9aba58d2fc6053438564afd8e5c8d6 .centered-text-area { min-height: 80px; position: relative; } .u7b9aba58d2fc6053438564afd8e5c8d6 , .u7b9aba58d2fc6053438564afd8e5c8d6:hover , .u7b9aba58d2fc6053438564afd8e5c8d6:visited , .u7b9aba58d2fc6053438564afd8e5c8d6:active { border:0!important; } .u7b9aba58d2fc6053438564afd8e5c8d6 .clearfix:after { content: ""; display: table; clear: both; } .u7b9aba58d2fc6053438564afd8e5c8d6 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u7b9aba58d2fc6053438564afd8e5c8d6:active , .u7b9aba58d2fc6053438564afd8e5c8d6:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u7b9aba58d2fc6053438564afd8e5c8d6 .centered-text-area { width: 100%; position: relative ; } .u7b9aba58d2fc6053438564afd8e5c8d6 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u7b9aba58d2fc6053438564afd8e5c8d6 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u7b9aba58d2fc6053438564afd8e5c8d6 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u7b9aba58d2fc6053438564afd8e5c8d6:hover .ctaButton { background-color: #34495E!important; } .u7b9aba58d2fc6053438564afd8e5c8d6 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u7b9aba58d2fc6053438564afd8e5c8d6 .u7b9aba58d2fc6053438564afd8e5c8d6-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u7b9aba58d2fc6053438564afd8e5c8d6:after { content: ""; display: block; clear: both; } READ: 1984 Review Essay Supreme Court should not meddle with the affairs brought up by neither the other branches of government nor by the general public. I also believe that if the judicial branch, by staying away .

Effect of Global Financial Crisis System †MyAssignmenthelp.com

Question: Discuss about the Effect of Global Financial Crisis. Answer: Introduction The current global scenario is witnessing the extensive impact of globalization in every sector. Positive implications of the globalization are known to all while majority of the negative implications are being overlooked. Emergence of the global financial crisis is one of the most well known negative implications of globalization (De Nicolo Juvenal, 2014). There are various global financial crises being emerged in the recent time with the 2008 American crisis is one of the major and infamous one. There are various opinions being given by different authors regarding the causes, output, and result of the global financial crisis. Moreover, the global response towards the financial crisis is also different and diverse in nature management. This report will discuss about the causes and reasons of emergence of the global financial crisis along with the result and implications of it. Moreover, the response towards it will also be discussed and critically evaluated in this essay. One of the key reasons of the global financial crisis is the origination of the liquidity crisis among the top banking institutions in the United States. This was first in the 2007 and it caused due to the fact the prior to 2007, American banks have provided huge amount of loans in the market, which further made the way to the creation of the new money in the system. In the late 2007, investors withdrew their investments from the market, which forced US Federal bank to increase the flow of capital in the system (Haas Lelyveld, 2014). The situation further worsened with the crash in the stock markets around the world. Thus, the source of having new investments goy closed causing the financial crisis. Moreover, with the initiation of the globalization, the economy of one country depends on another. Thus, crashing of the stock market of America caused in the crash of stock markets in some major economies. This amplified the all American situation in to a global phenomenon. Collapse of the American real estate market Another important reason for the occurrence of the global financial crisis is the bursting of the bubble of the housing market in the United States. Post investigation of the global financial crisis revealed that people are being given huge housing loans by the America banks extensively. At some point of time, it was concluded that the borrowers are unable to repay the loans. This led the banks to take the mortgage of the properties. However, the mass occurrence of the defaulting loans caused the entire collapse of the housing market, which made difficult for the banks to recover the value from the properties (Walks, 2014). Thus, the banks went in to cash crunch and liquidity crisis. This situation also triggered the occurrence of the financial crisis in the American market and then in the global scenario. American banks are having major economical influence in the global economy and they are one of the biggest lenders in the global economy management. Thus, credit crunch with them c aused negative impact in the global economy as well. Another prime cause of emergence of the global financial crisis is the wrong and hypothetical ratings being provided by the top rating agencies such as Standard Poors and Fitch. This is due to the reason that, these agencies had rated the subprime securities for investment, which further attracted more investors. However, it was a wrong speculation from their point of view and proved fatal in the further stage. The huge amount of investments being done on these subprime securities caused the impact of the crisis to get multiplied (Alsakka AP Gwilym, 2013). Thus, wrong ratings and speculations from these leading agencies caused the occurrence of the financial crisis in the global scenario. Impact of the global financial crisis Global financial crisis is having different impacts on the financial market, society and national economy. The following sections will discuss about those. One of the most suffered areas from the global financial crisis is the national economy of the United States. This is due to the reason that, according to the reports, the growth rate of the economy of the United States declined steeply and costs a holistic loss of USD 648 billion. Thus, this reflected in the per capita income of the average American households. The average income got reduced due to the financial crisis (Chen et al., 2016). As discussed in the earlier section that collapse of the real estate market of the United States is one of the key reasons for the global financial crisis. Thus, the American real estate market got hit hard and caused a loss of USD 3.4 trillion just in one year between 2008 and 2009. This also caused negative impact on the national economy of the country. Stock market of the United States also crashed due to the financial crisis. This was happened due to the reason that, investors were not felt safe to have their investment in the stock market. Instead of that, they started to withdraw their capital from the stock market (Dimitriou, Kenourgios Simos, 2013). It lead to the crash of the American stock market and it was being estimated that a loss of USD 7.4 trillion faced by the stock market. In terms of the social impact of the global financial crisis, it was estimated that the rate of the unemployment in different countries got increased due to the loss of the jobs by the professional. Loss of jobs caused due to the reason that, with having less demand in the market, business organizations were facing challenges to earn their revenue and thus they went for mass attrition in order to reduce the cost of operation. It was estimated that only in the market of the United States alone, 5.5 million jobs were cut. Hence, the social structure got hampered due to the increase in the rate of unemployment (Chang et al., 2013). As per the information of International Labor Organization, approximately 20 million jobs were cut in the global scenario. In terms of the sales and revenue, business organizations operating in the global market faced the difficulties to maintain their global operation. This was due to the reason that, with the increase in the rate of the unemployment and lack of liquidity in the market caused the reduction in the purchasing power of the customers (Bachmann, Elstner Sims, 2013). Thus, customers were also reduced their average consumptions of different products. This phenomenon worked in cyclical manner due to the reason that, the more was the rate of unemployment, the less was the expenditure of the consumers. On the other hand, the less was the expenditure from the consumers, the more was the cost reduction policies of the business organizations such as employee attrition. Global financial crisis also had negative impact on the banking sector also. Banks especially the American banks went for bankruptcy (Claessens Van Horen, 2015). For instance, Lehman Brothers filed for bankruptcy. The entire banking system got crashed in the process with having less liquidity in the system. The gross domestic production of the United States along with some other major economies got reduced. This was caused due to the reason that, with having less demand in the market, there are various business organizations closed their facilities, which reduced the production rate (Ollivaud Turner, 2015). However, apart from only having the negative implication of the global financial crisis, there are few positive sides also. One of the major positive implications is the reduction in the rate of emission of pollutants. It was estimated that the average rate of emission got reduced (Najam, Runnalls Halle, 2016). This was mainly caused due to the closure of many facilities and stagnant condition of the entire global economy. Global responses to the financial crisis International Monetary Fund went for creating an extra fund in order to lend more to the countries, which were worst affected by the financial crisis. Moreover, the borrowing agreements of International Monetary Fund with its member countries were being increased in order to borrow more amount of fund, which was used in lending to the collapsed economies. Various governments such as government of the United States and Australia introduced financial stimulus in the economy in order to boost the system and to provide financial cushion to the organizations, which are on the verge of bankruptcy (Bordo Haubrich, 2017). In 2008, government of Australia announced as financial package of AUD 10.4 billion to the domestic populations in order to increase their purchasing power and to increase the demand in the market (Xu et al., 2013). Stimulus steps taken by the government of the United States include providing tax credit to the first time buyers of homes. This was done in order to regain the demand in the collapsed housing market. Central banks in different countries increased the rate of the guaranteed savings in the banks for the depositors. This was done in order to motivate people to invest more in the banking sector, which will lead to the increase in the flow of capital in the banking system (Bruno Shin, 2015). Developing countries such as India and China were less impacted from the global financial crisis. However, they have also initiated different monetary and fiscal policies in order to prevent the rate of depreciation of their currency (Bekiros, 2014). Government of India increased the rate of public expenditure in order to maintain the flow of the capital in the system. Moreover, the rate of interest rate for exporters was also slashed in order to increase the rate of exports from the country. Excise duty was also cut by the government in order to increase the demand in the market by reducing the price. Though this caused loss to the government in terms of tax collection, but it helped to maintain the steady demand in the system. Conclusion Therefore, from the above discussion, it can be concluded that global financial crisis is one of the major incidents being happened in the recent time and had impact globally. The global impact of the financial crisis was further amplified due to the initiation of the globalization. This caused in increasing in the dependency between the countries. Negative occurrence in one economy badly impacted another economy. This report discussed about the reasons for the occurrence of the financial crisis along with its impact and the responses to counter it. This report also concludes that global banking system was changed drastically after the financial crisis and was made more immune in case of any future mishaps. It is also discussed in this report that, the key reasons of the financial crisis lied in the ineffective policies of the United States. 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Bmj, 347, f5239. Chen, Q., Filardo, A., He, D., Zhu, F. (2016). Financial crisis, US unconventional monetary policy and international spillovers. Journal of International Money and Finance, 67, 62-81. Claessens, S., Van Horen, N. (2015). The impact of the global financial crisis on banking globalization. IMF Economic Review, 63(4), 868-918. De Nicol, G., Juvenal, L. (2014). Financial integration, globalization, and real activity. Journal of financial stability, 10, 65-75. Dimitriou, D., Kenourgios, D., Simos, T. (2013). Global financial crisis and emerging stock market contagion: A multivariate FIAPARCHDCC approach. International Review of Financial Analysis, 30, 46-56. Haas, R., Lelyveld, I. (2014). Multinational banks and the global financial crisis: Weathering the perfect storm?. Journal of Money, Credit and Banking, 46(s1), 333-364. Najam, A., Runnalls, D., Halle, M. (2016). Environment and Globalization: Five Propositions (2010). The Globalization and Environment Reader, 94. Ollivaud, P., Turner, D. (2015). The effect of the global financial crisis on OECD potential output. OECD Journal: Economic Studies, 2014(1), 41-60. Walks, A. (2014). Canada's housing bubble story: Mortgage securitization, the state, and the global financial crisis. International Journal of Urban and Regional Research, 38(1), 256-284. Xu, Y., Carson, E., Fargher, N., Jiang, L. (2013). Responses by Australian auditors to the global financial crisis. Accounting Finance, 53(1), 301-338.