This source is the conclusions drawn from the Financial Crisis Inquiry Commission (FCIC) in 2011. The FCIC focused on the causes of the Great Recession in 2008. Currently, most people pin the blame of the financial crisis on Wall Street, the investment banks, and their irresponsible tactics. The conclusions drawn by the FCIC further added to this popular belief. The FCIC concluded that there was a systemic breakdown in accountability and ethics. Additionally, there was an erosion of standards of responsibility and ethics that exacerbated the decline of Lehman Brothers and the onset of the financial crisis (FCIC 22).
The topic of my White Paper revolved around the deregulation leading up to the Great Recession in 2008, the financial crisis itself, and then the regulation that resulted from it. The FCIC report brings light to the irresponsible actions the investment banks were taking leading up to the Great Recession. The irresponsible actions were made possible through significant deregulations of the financial industry beginning with the Reagan Administration in the 1980s and running through the late 1990s. Therefore, the FCIC report strongly supports a significant portion of my report.
Lastly, the FCIC conclusions report serves as an extremely reliable source. Put into place by the government itself, the FCIC served as a neutral third party evaluator of the causes of the Great Recession.The FCIC may not have drawn light on many previously unknown causes, but it did strongly support the preconceived notions and ideas that had been put in place.
Conclusions of the Financial Crisis Inquiry Commission. Financial Crisis Inquiry Commission, 2011.
Since my white paper is looking at the policy of the 21 year old age requirement to legally drink alcohol in the United States and considering if lowering the age to 18 would be more beneficial for our society, I figured it best to start than the act that brought the drinking age from 18 in most states to 21 in all.
The American Medical Association’s (AMA) mission is for the betterment of the public health and to advance the interests of physicians and patients. As the largest and highest respected professional association of physicians, I decided to use AMA as my society resource as to the health sectors response to the health affects of misleading overly airbrushed advertisements have on the public. Continue reading Resources Proposal
The World Trade organization will serve as the government resource. The World Trade Organization has a powerful say in the development of international trade through their influence on regulations. On their website, a variety of publications endorsed by the WTO can be found, dealing with the societal impacts of globalization. In particular, there is a paper dealing primarily with Wages and employment as two major issues found here.
Government Resource Proposal
After reading up on the millennial generation I found a common theme that they were less driven to find employment and not easily motivated. This is problematic because without motivation to work dependency on parents or family members will increase. Continue reading RP: Millennials in the Workplace
Government Resource Proposal
Edward O’Bannon vs. NCAA was an antitrust class action lawsuit brought about in 2009, receiving an official ruling in The United States District Court for the Northern District of California on August 8th, 2014. The plaintiffs in the case were a group of current and former college student-athletes seeking to challenge the NCAA’s set of rules that ban student-athletes from receiving a share of the revenue that the NCAA and members schools earn from the sale of licenses to use the student-athletes’ names, images, and likenesses in video games and other footage. The plaintiffs claimed the rules violated the Sherman Antitrust Act, which prohibits business activities that the federal government regulators deem to be anti-competitive. On the other hand, the NCAA claims “that its restrictions on student-athlete compensation are necessary to uphold its educational mission and to protect the popularity of collegiate sports” (2). Other defendants include both the Electronic Arts Inc. and the Collegiate Licensing Company
Bill H7033 is a bill that was introduced in Rhode Island and that has been implemented in other states as well, but not all of them yet. The bill addresses the need to pass “a law that bans food and organic materials from the waste stream. and indirectly promotes composting and commercial food digesters.” It is aimed to address organizations such as food stores and restaurants so as to make an impact on a higher level.
Congresswomen Ileana Ros-Lehtinen (Florida) and Lois Capps (California) have co-sponsored a bill that has come to be known as the Truth in Advertising Bill of 2014 (issued on April, 27, 2014). Formally known as H.R 4341, this bill addresses the fallacies and abuse of the human body in the media. Advertising and the media have for a long time now altered and abused images of humans for commercial use. This has led to many problems, and primarily to a false perception of human perfection. This bill would require the Federal Trade Commission to submit to Congress a report and make decisions on appropriate use of altered images in commerce and advertising.
This bill finds that these altered images can, “Create distorted and unrealistic expectations and understandings of appropriate and healthy weight and body image,” leading to “eating disorders among men and women of varying age groups” with a “particularly destructive health effect on children and teenagers” (Sec. 2. Art. 3 and 4). Overall, this is a public health issue that clearly has implications for our nations well-being and needs to be addressed.
Overall, this Bill would require the FTC in addition to the Director of the National Institute of Mental Health and the Administrator of Substance Abuse and Mental Health Services Administration to regulate and reduce the use of photoshopped images in advertising and the media. These methods of control would be largely informed by important stakeholders from the health, business, and consumer sectors.
Congresswomen Capps has voiced her opinion, “Just as with cigarette ads in the past, fashion ads portray a twisted, ideal image for young women,” Capps said. “And they’re vulnerable. As sales go up, body image and confidence drops” (Jezebel, 2014). While many researchers and eating disorder awareness groups have lobbied for this bill, it has also faced some criticism. Dan Jaffe, of the Association of National Advertisers, thinks that the methods of regulation proposed in the bill need to be more specific, “It can’t just be the photoshopping that they go after, it would have to be tied to something specific. Are you just going to say that whenever someone photoshops it’s a per se violation? I think that would be going too far” (2014). Other opponents argue that the bill raises free speech issues and sheds too much negative light on advertising. More opponents go on to say that previous laws already address deceptive and untruthful ads.
Overall, this Bill directly addresses my area of interest in my White Paper. While addressing a governmental audience, this bill raises valid and debatable arguments for and against the further regulation of photoshop in the media. In my paper, I will argue in favor of governmental action and bills like the H.R. 4341. This will help develop my further goal of addressing the larger public health issues and unrealistic depictions of the human body in the media.
I obtained this information from the Bill itself, in addition to the reliable sources of Congresswoman Ros-Lehtinen’s website. Overall, no one really argues against regulation, what is up for debate is just how these regulations will be orchestrated.
Truth in Advertising Bill 2014, H.R. 4341, 113th Cong. (2014). Print.
Jezebel, Hillary C. “Congresswomen Introduce Bill to Regulate Overzealous Photoshopping.” Welcome to Congresswoman Ileana Ros-Lehtinen. Washington, DC Office, 17 Apr. 2014. Web. 12 Dec. 2014.
Clayton Act, Section 7
I am using this government resource to help describe why Live Nation is unethical for the U.S. Live Music industry. Live Nation has seen phenomenal growth over the past 10 years, and through the merger with Ticketmaster, Live Nation is certainly a forced to be reckoned with. Other related companies, such as Atlantic Records or Warner music, fear Live Nation may use its large market cap and competitive position to extend their services into A&R, recorded music, etc. Although Michael Rapino, in an interview with fortune magazine, noted he did not wish to extend the services of his companies into recorded music, acquiring Atlantic Records may be an incredible investment.
A white paper examining the anti-trust issues of the merger between Live Nation and Ticketmaster referenced a possible violation of Section 7 of the Clayton Act, so I wanted to know what the act actually said. Section 7 of the Clayton Act prohibits mergers and acquisitions where the effect “may be substantially to lessen competition, or to tend to create a monopoly.” So then I looked to Live Nation’s competitors—their biggest competitor was Caesar’s entertainment group and Liberty Media group, who still host live events, but have vastly different offerings. For example, Caesars’ may draw revenue from every aspect of their casino (food, drink, hotels, and live music), while Live Nation draws revenue from artist management, ticket sales, venue management, and sponsors. There wasn’t a single competitor who had similar market offerings at a similar market cap, so it is safe to say Live Nation violates section 7, since it has a monopoly.
“The Antitrust Laws.” Federal Trade Commission. Federal Trade Commission, n.d. Web. 11 Dec. 2014.