Criminal Behavior and the Law Essay Example | Topics and Well Written Essays - 1500 words

Criminal Behavior and the Law - Essay Example Finally, the paper will discuss the differences between index-one and index-two crimes under the FBI’s Uniform Crime Reports, as well as which of the two is classified under violent crime and the one classified under property crime. To begin with, criminologist and criminalists are terms more than often used interchangeably, according to Williams and McShane (2004). However, the two terms have some distinct differences that are worth noting. Williams and McShane (2004) note that criminologists deal with the study of behaviors of an individual in relation to crime, individuals who commits the crimes being studied, as well as the correctional facilities for criminals such as jails and prisons. This falls under criminology, which covers various fields of criminal justice, with emphasis on social behavior. Criminalists, on the other hand, are professionals charged with the responsibility of analysis criminal evidence at the scenes of crime such as bullets and bloodstains (Williams and McShane, 2004). They are also charged with the responsibility of recreating crimes scenes, work at crime scenes, laboratories, and courtrooms. Criminologists engage mainly in teaching and research, where they apply the knowledge to the administration and policing, study of public policy, drug addictions, correction, juvenile delinquency, correctional administration and policy, and victimology. Other areas of study include criminal ethnography, theoretical criminology and models or criminal behaviors (Williams and McShane, 2004). Criminologists also assist in analyzing psychological, sociological, and biological evidence such as finger and footprints, body fluids, and blood plaster using their skills and knowledge to establish the link between the suspect and the crime. Criminalist, on the other hand, is a professional who employs scientific techniques to identify and separate vital evidence from the scene of a crime (Williams and McShane, 2004). The evidence gathered is analyze d and interpret, establish the truth as regards the crime. Forensic psychologists are professionals who by virtue of their training apply psychology in a criminal investigation and law (Fulero and Wrightsman, 2009). Forensic psychologists play a big role in assisting fact finders or courts in arriving at a just and precise conclusion of a criminal case. They are often involved in insurance claims, custody disputes, and lawsuits, according to Fulero and Wrightsman (2009). Legal justice system uses forensic psychologists in analyzing the mental status of the accused before, during, and after the trial proceedings. For instance, criminal cases whose verdicts may be death penalty always require that before the accused is handed the sentence, a forensic psychologist is called to analyze the defendants mental status before, during and after the crime to establish whether the defendant was insane at the time of the crime or not. The analysis of mental status of the defendant in a case is i mportant since it aids in just and accurate decision making by the jury. White-collar vs. Blue-collar crimes Crimes are committed by different classes of people. In this regard, O'Hear (2001) defines the white-collar crime as a financially motivated crime committed by respected people with high social status in society. This crime is committed by high-class individuals who have inherited or earn a lot of money at the upper level jobs such as corporate bigwigs (O'Hear,

Financial Risk Management Essay Example | Topics and Well Written Essays - 1000 words

Financial Risk Management - Essay Example This study involves a comprehensive study of the risk management policies followed by Bear Stearns and how it led to its demise. Risk Management: An Overview Risk is a term associated with any type of business entity. Without risk it would have been an easy task for managers of a company to allocate its resources in the most effective way. And with the world experiencing the global financial crisis in the year 2008, effective and efficient risk management is the key to success for any financial enterprise. The idea of risk management may differ from person to person. In case of regulators risk management is a means of control, for traders it is a means of hedging their risks and for risk managers it is a means of obtaining the highest return possible by allocating capital in the best possible way. Risk management takes into consideration the magnitude as well as the nature of risks involved. It is all about optimizing the risk-return profile of a company. Sources of risk are many and it is due to the uncertainties of future events. In today’s world banks are engaged in wide range of activities like trading of derivatives to its customers which results in exposure, finally leading to risks. Thus risk management plays a vital role in case of banks. Study and analysis of risk begins with study of Markowitz model of portfolio analysis where he defined selection of portfolios based on mean of variances in return of portfolios. Sharpe and Lintner further added to this analysis by assuming the existence of risk free assets. The rate of return of a risky asset is governed by its systematic risk and ‘beta’ is the measure of this type of risks. Next Black-Scholes model for pricing of options gives a measure of the risk of an underlying security by measuring the volatility in the form of standard deviation. Again works of Modigliani and Miller showed that value of the firm is not dependent on the capital structure of the firm. Increase of debt, leading to greater leverage in the capital structure of a firm increases the financial risk for the shareholders of the firm. This means, reengineering of capital structure of the firm would not help the firm, and the management should consider implementing strategies to increase the value of the firm economically. However, it is very difficult and possesses a challenging task for a company to implement these risk management theories practically. For any financial institutions like global banks, before taking up risk management system they must ensure that, they are up to date with their databases regarding various financial transactions within the company and are also aware about financial rates available in the outside market. Also they must have relevant statistical tools to analyze those data. Risk management policies followed by Bear Stearns Bear Stearns was once considered as one of the most efficient managers of risk but at the end it was their faulty risk management policies that l ed to their downfall. Bear Stearns most profitable division was the securitization of mortgage, which brought in almost half of the company’s revenues. Regarding mortgage securitization, the company followed a model that was vertically integrated and made profit at every step starting from originating loan, securitizing them and then selling them. These