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Family is Everything
Vanessa Valdovinos
Professor Gonzalez
English 1301- 034
13 February 2019
Family is Everything
I was seven years old not knowing what was going on. Only finding my mother, father and my grandparents pack, while I just stood there like an innocent kid watching them rush. I remember my mother telling me to pick the toys I absolutely wanted to take. I asked her where we were going, but she just replied, “I’ll tell you during the car ride”. My brother was only a year old, so I had to watch him while everyone was packing. Once we got to the car, I started to irk my mom about where we were going. She explained to me that my grandpa was getting deported. I didn’t know what that meant back then so, my mother had to explain to me more. We discussed we were going to move to Mexico where my family is from.
My mother explained to me we lived in Mexico for two years when I was born and now, we were going back. I was sad leaving my friends without any goodbyes. My dad dropped us off at the airport. He couldn’t go because of his job, but he told me he would come see us soon to stay. We were at the airport and I looked around and I didn’t seem to find my grandpa around. I asked my grandma why my grandpa wasn’t here at the airport with us if we were moving back to Mexico for him. She explained some other people took him and he was going to get there differently. I just shrugged and kept quiet.
Once we got to the airport in Mexico, I saw my aunt and cousin there waiting to take us to our house. My grandma and grandpa had a house in Mexico, which we would visit during the summer. We got to the house and I still didn’t see my grandpa. I started to weep not finding my grandpa anywhere around. We had a special bond and not seeing him there I thought we had left him in California.
I shouted at my mom, “I didn’t even get to say bye to abuelo”.
She replied, “What are you talking about a goodbye?”
My grandma told me to stop crying and said he was here, but just not with us at the moment. My mother told my aunt if she could watch my brother while her and my grandma went to go see my grandpa. I whined and demanded to go too. She made me be aware that my grandpa wasn’t at a nice place and I couldn’t cry because it would make him feel worse.
During the ride I saw how colorful and earthlier Mexico was than California, but then as we drove more, I see it change. I see the background become more dead looking. We get out of the taxi and see a big building surrounded by a fence. As we entered the building it looked as if it was a prison, but at the same time it looked a little homey. Once we gave our finger prints, we entered a door and I saw my grandpa. I ran to him and I tried my best not to cry as my mom had said. I knew he wasn’t in jail since he was still in his normal clothes. I asked my grandpa why wasn’t he with us this whole time. He told me the truth which was he was illegally living in America and they caught him which made them bring him back to Mexico.
There was an announcement made to all the visitors that we all had to leave. We said our goodbyes. My grandpa told me in 30 days he would get out of there and come home to us. He told me home was here now, but it was just temporary. I counted down the days when my grandpa would come home to us. For the mean time I had to enroll in a new school. The good thing was I already knew Spanish, so I didn’t have to enroll in English classes. I was depressed leaving my friends back in California, but I met this girl in my math class named Natalia. She seemed nice so I introduced myself. We started to talk, and she told me she had moved here from California. I was so stoked finding a new friend. Natalia had told me she moved to Mexico because her dad was deported as well. It felt relieved I had found Natalia, even better since she knew what I was going through.
The final day had come when I got the see my grandpa. We went to that building again surrounded by the fence. I entered the door once again and this time I saw more kids and family. I even saw my friend Natalia. My grandpa signed some papers and a picture was taken of him. After that, we all finally got to go home together. Once we got to my grandparents house my dad was there as well. I assumed they were talking about a serious situation since they had told me to go to my room. My cousins and I watched a movie I had brought from home called 102 Dalmatians. It had reminded me of my best friend back home named Stephanie because we would watch it all the time together. I started to cry, and my mom comforted me and said we could go visit in the summer. I wiped my tears away and hugged my grandpa. I was just thrilled my grandpa was home.
My family and I woke up the next to day go eat some breakfast. It felt the same, but different at the same time. The bond between everyone was the same, it was just knowing it wasn’t my actual home. I knew this was going to be my new home for a while, since my dad started a new job. We all made some changes and sacrifices, but we did it because we are family. We all went through a lot those past two months. The food had finally came and I sat there at the table eating my pancakes, enjoying the sight of my family all together once again.
Refection on Workshop
What worked on the workshop was everyone was not giving a negative feedback everyone was helping everyone with giving just advice. What they did not address was saying if my intro and my conclusion was good or not. My group did however say my story was good and well described. They didn’t say anything about my paper having dialogue as well, but I knew I needed at least one.
The changes I made was I added dialogue which my group didn’t say I needed but I knew I needed a little more. I went back and noticed I had some words that didn’t belong on some sentences. They weren’t run on sentences since I had commas in the right places, but the words were just extra in the sentence. I feel like I still need to add more dialogue, but I didn’t want to put too much dialogue to take up the story. I also didn’t want to add more dialogue If no one was really talking to me in the story since I was a kid. The adults would just talk to each other and I would just be there following where ever they go.
Factors that determine sovereign bond ratings in the European credit market
Dissertation Proposal
Name
Institution
Couser
Date
Tutor
Contents
Background/Introduction
Objectives
Literature Review
Methodology
Data Collection
Analysis
Conclusion
Proposed Title
Factors that determine sovereign bond ratings in the European credit market.
Background/Introduction
The banking crisis in late 2008 caused a crisis of assurance in the financial health of some member States of the Euro area (Afonso, 2003). Cantor and Packer (2008) state that various financial organizations in Europe are doing all it takes to boost confidence in European economy to prevent market concerns spreading to other Euro area economies. Attention has been drawn to the role and behaviour of credit ratings agencies and, in particular, the three main agencies: Moody’s, Standards and Poor’s and Fitch.
The rating agencies were visited post the collapse of the banks in 2008 for not rating certain financial products properly, contributing to the severity of the collapse (Mulder and Perrelli 2001). With the rating agencies’ reputations yet to recover, the agencies have been accused of precipitating and exacerbating the Euro area crisis by downgrading some nation’s sovereign ratings for example, Greece and Portugal. According to Monfort and Mulder (2000), Politicians across Europe have opted for enhanced regulation and made suggestions that oligopoly of the rating agencies ought to be challenged by creating European credit rating agency. In October 2009, the European commission initiated a discussion on credit rating agencies regarding these issues (Mulder and Perrelli 2001).
Roubini (2001) emphasizes that the criticism that Credit rating agencies precipitated the European crisis is chiefly unjustified; their downgrades only reflect the weightiness of the problems that many Member states are presently facing. As a matter of fact, as confirmed by Trevino and Thomas (2001), in the majority of cases they have followed, rather than led, market sentiment. Additionally, the works of the three agencies have been complicated by having to work against a background of changing policy initiatives form EU Member States.
The downgrade of rating agency, in certain circumstances, exercises a disproportionate influence on markets, exacerbating fragile situations. Considering the fast changing nature of recent events and financial markets volatility after the economic meltdown in 2008, one can find out the degree to which rating agencies may have worsen the crisis (Trevino and Thomas, 2001).
According to Peters (2002), the credit rating agencies received deserved criticism for their role in the banking collapse on 2008. Their role in the ongoing European market crisis is considerably different, and justified anger over their former failures should not colour objective assessment of their current decisions relating to European sovereign debt (Trevino and Thomas, 2001). The global accredit rating industry is, as at now, an oligopoly.
While not essentially contrasting further regulatory measures to boost transparency, Peters (2002) recommends that the new framework be given time before further changes are made. This is hoped to assist ensure investor get the actual picture of the sovereign ratings: subjective predictions that depend upon the individual judgment of rating agency staff. Investor is not to follow the ratings blindly rather look at them as notions to be balanced and confirmed by other European indicators (Trevino and Thomas, 2001). Following the crisis, it is vital to analyse the suitability and applicability of Fitch Ratings, Moody’s and Standard and Poors ratings agencies. It is also crucial to critically analysing the key determinants of sovereign bond ratings.
Aim of the Research
The research is aimed at analysing the key determinants of sovereign bond ratings reviewing the top three rating agencies: Fitch Ratings, Moody’s and Standard and Poors. The analysis will employ component Analysis in identifying the key factors affecting sovereign credit ratings.
Objectives
In order to achieve the set objective and for finer analysis, two objectives have been set to answer the research aim.
To critically analyze the suitability and accuracy of Fitch Ratings, Moody’s and Standard and Poors ratings agencies.
To critically analysing the key determinants of sovereign bond ratings using the three rating agencies.
Research rationale
Sovereign bonds affect the European economy through many channels, some of which are not clear but sill powerful. The government and financial institutions need to know the various factor affecting sovereign bonds and so the importance of the research.
There have been various blames on the rating agencies of not properly carrying out their functions, and so the real case of the fall in European economy in 2008 has not been properly investigated. The research makes a further step to investigate the credibility and accuracy of the rating agencies and factors affecting sovereign bonds. Through the analysis of the suitability and accuracy of a rating agency, the three agencies under review will have a chance to identify any loop holes in their ratings.
Literature Review
Sovereign debt in merging market economies affects the domestic economy through a variety of channel, some of which are not entirely apparent but still powerful. Few theoretical papers have analyzed the role of sovereign bonds, and most of the empirical literature on bonds spreads and debt crises have not explored that link.
Sovereign bonds have become an increasingly significant source of financing for European countries. One significant feature of the sovereign bonds is its substantial credit spreads owing sovereign default risk. Various theories and notions regarding sovereign bonds ratings have come up since the economic meltdown in 2008. Though there are claims about the accuracy and suitability of the rating agencies, it is clear that various factors have effects on the sovereign bond ratings.
McKenzie (2002) through a research found that world interest rate and domestic. Fundamental account for 40 percent of movement in bond spreads. Few empirical studies include the exchange rate policy into assessing sovereign default risk.
The literature review will collect the secondary information from the journal and books regarding the three rating agencies and information related to sovereign bonds ratings. Literature review is essential in finding relevant information and the former theories and facts about sovereign bonds rating in the European market.
Models to be employed in the research
Fitch Ratings, Moody’s and Standard and Poors past ratings will be used as the basis for analysis since. A principal component analysis will be employed to identify the common factors affecting the ratings. The three agencies will be analyzed in turn for finer and deeper analysis. The three agencies rating in the 2008 economic crisis will be thoroughly examined.
Methodology
The methodology section describes the philosophy to be employed in the research. The research methodology will entail the instruments and the market to studied (European Market). The chapter will further include a description of the sampled market, sampling procedure used and the rationale and how information was collected from the sampled market. The aim of research is to critically analyze the application and credibility of the three agencies as sovereign credit ratings in the European market. In so doing the common factors that determine credit ratings in the European market will be thus identified.
Data Collection
Both primary and secondary research methods will be used in data collection. The primary data will be through questionnaires and interviews. Questionnaires will be the main method through which the data will be collected from respondents. The structured interview questions will be mainly aimed at analysing the objectives. The secondary data collection technique will entail collecting data already existing from various sources to give a platform for the research. The past Moody’s analysis will be analysed. Among the secondary sources will be journals and books.
The researchers favoring primary data collection techniques feel as though collecting new data is the best way to contribute to the research topic. Alternatively, those in favor of secondary analysis feel that using available data is the best mechanism to contribute to knowledge base. The secondary analyses identify gaps in the knowledge base and suggest problem formulations, hypothesis, and research methods that require primary collection. The research will majorly depend on the secondary data. Relevant information concerning the analysis of the ratings done by the three agencies will be used for analysis.
Secondary data has a number of uses in the process of consultancy research ranging from helping identify the problem and setting objectives through to helping interpret data and making recommendations. Effective planning of secondary data collection is essential, and the researcher is to assess what they are looking for, where to look and how to look for such data. Through secondary method, the researcher will also be able to collect a large volume of data necessary for analysis and so its adoption in this research. Through the secondary methods, the suitability and accuracy of Fitch Ratings, Moody’s and Standard and Poors ratings agencies will be determined.
Analysis
Analysis will comprise a cross tabulation of the facings affecting the sovereign credit rating in order to determine the common factors shared among the agencies. The analysis will start by eliminating the materials that do not contribute to the research question. The remaining materials will be grouped based on the content.
Conclusion
The conclusion section will summarize the entire dissertation noting the key findings in the analysis. The chapter will also contain recommendations and the research limitations. The conclusion will further contain the areas that require further research.
References
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Aylward L. and R. Thorne (2008), “An Econometric Analysis of Countries’ Repayment
Performance to the International Monetary Fund”, IMF Working Paper, 98/32.
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Journal of Political Economy, 97, 155-178.
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Review, 79, 43-50.
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Dictionary of Money and Finance, edited by P. Newman, M. Milgate and J. Eatwell, New
York: Stockton Press.
Cantor R. and F. Packer (1996), “Determinants and Impact of Sovereign Credit Ratings”,
Reserve Bank of New York Economic Policy Review, 2, 37-53.
Clark E. (1997), “Valuing Political Risk”, Journal of International Money and Finance, 16,
477-490.
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Study of Russian Debt”, The Journal of Finance, 58, 119-159.
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Eaton J., M. Gersovitz and J. Stiglitz (1986), “The Pure Theory of Country Risk”, European
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Default, Repudiation and Reputation”, American Economic Review, 78, 1088-1097.
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Indicators of Developing Country Creditworthiness”, IMF Staff Papers, 43, 688-724.
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22
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Human Trafficking The Modern Day Slavery of the 21st Century
Human Trafficking: The Modern Day Slavery of the 21st Century
Venisha McIntosh
Criminal Justice Program Keiser University
MACJ 501: Seminar in Criminal Justice
Dr. Arthur C. Jones
July 26, 2020
Introduction
This journal article critique is on, Human Trafficking: The Modern Day Slavery of the 21st Century, by Job Elom Ngwe and O. Oko Elechi (2012). Human trafficking, also called trafficking in persons, form of modern-day slavery involving the illegal transport of individuals by force or deception for the purpose of labour, sexual exploitation, or activities in which others benefit financially CITATION Ste20 l 1033 (Steverson, 2020).
It is a modern day slavery because victims are exploited, manipulated, enslaved, stripped of their dignity, and many are coerced into doing crimes. Many victims are coerced into human trafficking because of the deception of promises such as; careers, better quality of life, and hope to become a citizen. It is estimated that approximately 1,000,000 people are trafficked each year globally and that between 20,000 and 50,000 are trafficked into the United States, which is one of the largest destinations for victims of the sex-trafficking trade CITATION Ste20 l 1033 (Steverson, 2020). A lot of cases go unreported. The following article will identify the violation of human rights, the different elements of human trafficking and the differences between human trafficking and human smuggling.
Description of the Research Problem
Many agree that human trafficking has become the modern day slavery. Human trafficking is slavery because it describes the situation where one individual exploits the labor of another person CITATION Hum12 l 1033 (Ngwe & Elechi, 2012). Slavery back in the day was about ownership. People owned other individuals and made them work. On the other hand; present day slavery (human trafficking), people are not owned, but their freedom is taking away because they cannot make their own decisions or walk away in fear of some type of retaliation (punishment).
According to CITATION Hum12 l 1033 (Ngwe & Elechi, 2012), there are essentially three aspects of modern slavery: severe economic exploitation, the absence of any framework of human rights, and the maintenance of control of one person over another by the prospect of reality of violence. The people that manipulate individuals into human trafficking, usually house individuals in deplorable places and give them little to no food. They are conditioned to think that they need them to survive. Many people who are victims of human trafficking are foreigners who are trying to make a better life for their families.
Modern day slavery is globalized CITATION Hum12 l 1033 (Ngwe & Elechi, 2012). Slaves are only kept for a certain amount of time and usually discarded or replaced with a new person. For the reason stated above; this puts the slave in a more precarious situation because the slave owner has no incentive to look after the slave and prolong his or her life and wellbeing to keep him or her productive for a longer period of time CITATION Hum12 l 1033 (Ngwe & Elechi, 2012).
Human smuggling is defined as the illegal transportation of a person or persons into another country. It is different than human trafficking because once the person reaches his or destination, they are free to go. Human smuggling usually is not a prolonged situation. People that choose to get smuggled into another country are evading immigration laws.
Human trafficking is often a crime that is hidden and a huge part of the underground economy. Victims of human trafficking are often reluctant to report their victimization or to cooperate with the law enforcement agents investigating the crime for myriad of reasons CITATION Hum12 l 1033 (Ngwe & Elechi, 2012). Many victims are unaware of the laws that protect them. In 2007, the United States of America State Department estimated the number of people trafficked annually across internal borders to be 800,000 CITATION Hum12 l 1033 (Ngwe & Elechi, 2012). Most human trafficked victims are woman and children. There are some adult male victims, but those victims are really under reported because of fear of the stigma that might come from reporting it. According to CITATION Hum12 l 1033 (Ngwe & Elechi, 2012), more than seventy percent of the female victims of human trafficking are coerced into the commercial sex industry. Citing the Polaris Project Washington, DC, TAASA says that more than 2000,000 children are trafficked into the sex industry in America each year CITATION Hum12 l 1033 (Ngwe & Elechi, 2012).
Analysis
There have been several attempts in the history of the modern world to abolish slavery in all its form CITATION Hum12 l 1033 (Ngwe & Elechi, 2012). This has never worked as slavery has always re-emerged in one form or another CITATION Hum12 l 1033 (Ngwe & Elechi, 2012). Some dimensions of modern day slavery include; debt bondage, sex slavery, and forced labor.
Debt bondage is where a poor person usually offers themselves or child/children as collateral for a loan. In return, the person works it off or whatever the loan giver says to do. The person never works off the debt because the loan giver adds interest to make it impossible for the person to pay off and never regain his or her freedom. This happens mostly in Southeast Asia CITATION Hum12 l 1033 (Ngwe & Elechi, 2012).
Sex slavery is the most common form of modern slavery. This form is involved woman and children who are forced into prostitution. Many brothers or husbands of force women into prostitution for monetary gain or for their own selfish gain. Again, this happens in Southeast Asia.
Forced labor is also a form of modern slavery because victims are recruited and forced to engage in such services as domestic work, construction and even human mine detectors CITATION Hum12 l 1033 (Ngwe & Elechi, 2012). Victims are recruited based on false promises and dreams that never happen.
Discussion
To start, immigration laws have recently been changed under our current President. Many people who human trafficked often end up in another country such as; the United States, come here from poorer countries to seek a better life and better job opportunities. One of the main reasons is because some countries do not allow free movement of labor and causes an inefficient economy.
Human trafficking is rarely reported because victims do not feel safe enough to report it and fear of having to go back home to maybe even worse conditions. To add, some victims are abused or given some type of punishment to put more fear in their hearts to not report to local law enforcement agencies. Some victims are forced to commit crimes and work in the worse conditions because someone has literally sold him or her a dream.
Many people turn a blind eye to things that they see and that also plays a role in so many victims staying in human trafficking. It is hard for local law enforcement agencies or state agencies to identify victims of human trafficking without the help of the public. There are ways that people can help and stop the increase in human trafficking.
Critique
Government programs and any other agencies should provide aid to victims of human trafficking to help in the process of getting the victims on the right track. All officials should receive the proper training to help with victims of human trafficking. All the victims will need counselling of some form. Life after being in an enslaved environment can leave a person traumatized. The government should figure out the reasons the victims actually came to the country and assist them in reaching their goals at having a better life. It is necessary to have strong immigration laws to keep criminals out of the country. On the other hand, there are some people that try to become citizens in other countries because they actually want to work and help their families, but get denied and never get that chance.
Conclusion
Human trafficking is a major threat to global economic and political order CITATION Hum12 l 1033 (Ngwe & Elechi, 2012). It is capable of destroying the already fragile economies and governments of the poorer countries CITATION Hum12 l 1033 (Ngwe & Elechi, 2012). Trafficking can be stopped if law enforcement officials are properly trained on how to identify a human trafficked victim and some of the locations of where one might be located. There has to be more awareness and solutions. A common myth is that people think slavery has ended; it is still around, but sadly has taken a new form.
Word Count: 1399
References
BIBLIOGRAPHY Cole, G. F., Smith, C. E., & DeJong, C. (2019). The American System of Criminal Justice, Sixteeth Edition. Boston: Cengage.
Homeland Security. (2020, July 19). What is Human Trafficking? Retrieved from Blue Campaign: dhs.gov
Ngwe, J. E., & Elechi, O. O. (2012). Human Trafficking: The Modern Day Slavery Of The 21st Century. African Journal of Criminology and Justice Studies.
Steverson, L. A. (2020, July 19). Human Trafficking. Retrieved from Britannica: https://www.britannica.com/topic/human-trafficking#info-article-contributors