Beat Poets Essays - Counterculture Of The 1960s, North Beach

Beat Poets Essays - Counterculture Of The 1960s, North Beach Beat Poets The Beat Movement in modern literature has become an important period in the history of literature and society in America. Incorporating influences such as jazz, art, literature, philosophy and religion, the beat writers created a new and prophetic vision of modern life and changed the way a generation of people sees the world. That generation is mow aging and its representative voices are becoming lost to eternity, but the message is alive and well. The Beats have forever altered the nature of American consciousness. The Beat Generation of writers offered the world a new attitude. They brought to society a consciousness of life worth living. They offered a method of escape from the stultifying, unimaginative world we live in, through the exploration of one's intellect. Beat has had many different contemporary implications in music, poetry and literature. Literature has been liberated considerably. The poetic form has been changed to inaugurate a new poetic form, an American form. There was less emphasis on tradition and more emphasis on the individual talent. (www.rohan.sdsu.edu) One of the most important contributions to contemporary verse was to take poetry out of the classrooms and into non-academic settingcoffee houses, jazz clubs, large public auditoriums and even athletic stadiums. Poetry is more popular and more read than anytime in history, not only spoken poetry but also sung poetry of a high order. The literature, coordinated by pop music, with a way of dressing, with a way of life, it something that has influenced the youth of the world not only in Western countries but Eastern countries as well. (www.charm.net) Music has been influenced greatly by Beat writing. The lyrics of many great songs have forever been changed by the writing of the Beat Generation. Bob Dylan's favorite poet was Allen Ginsberg. Ginsberg became one of Dylan's greatest friends. He worked on many projects with Dylan...The band Rage Against the Machine has many of Ginsberg's poems and words show up in their songs. For instance the song 'Bulls on Parade' includes Ginsberg 'Hadda Been Playing on the Jukebox' (www.charm.net) Generation X writers are compared to the Beat writers. Many people say that the generation coming to age has the potential to bring a new vision to society. The Beats thumbed their noses at the corporate world just like Generation X does today. (www.altx.com/io/beatgeneration.html) Many writers of Generation X have been influenced by the writing like Andy Clausen, Eliot Katz, Geoffrey Manough and Ed Sanders. There are many writers that have been influenced but have not been included in the Generation X section. These writers took up the flame of the Beat flavor, keeping it strong. James Wright was one of the writers that kept the flame going. He was much admired poet of his generation...(www.rohan.sdsu.edu) His works have a sense of Midwestern American bleakness...(www.rohan.sdsu) One of his poems goes like this My bones turn to dark emeralds Your hands turn yellow in the ruins of the sun Suddenly I realize That if I stepped out of my body I would break Into blossom (www.rohan.sdsu.edu) Another such writer with Beat flavor would be Adrienne Rich. Rich's work established the importance of gender in shaping a poetic consciousness and she became a mentor to thousands of women, enabling them to 'speak the unspeakable,' to authenticate their unique experience of reality. (www.rohan.sdsu.edu) Beat writing has made a great impact on the writing of today's generation. It has allowed people to be more open with themselves and the people that are reading their works. It is also allowed people to be more open minded to new ideas that these works brought to the surface for everybody to see. Where early writing was stiff, beat writing allowed for the writing to come after it to beat to a different drummer. Beat writing has expanded the world of literature, poetry and music to a higher level for people to enjoy. Bibliography BIB www.charm.net/brooklyn/Topics/BeatGen.html www.lib.virginia.edu/exhibits/sixties/index.html www.rohan.sdsu.edu

Management Simulation Assignment Example | Topics and Well Written Essays - 1750 words

Management Simulation - Assignment Example The market is forever growing and the demand for fast food is increasing with the changing lifestyles. In times of recession and extremely high inflation, people tend to reduce their expenses as much as is possible. Fast food restaurants thrive in times like these for they provide food at comparatively lower prices and whatever the socio-economic environment is like, people have still got to eat.People living in the United Kingdom live a lifestyle that is fast paced and extremely busy. As such, people do not have the time to sit around and wait for an order in a restaurant. Food outlets gain popularity based on how quick and efficient their service is.  Another factor that needs to be given special attention is the increasing orientation towards healthy foods. People now are extremely health conscious especially due to the increasing obesity issue. Fast food restaurants are known for producing high-calorie food that is not very healthy. A new pizza place will have to consider all t hese factors before starting operations.Seemingly, technology doesn’t have much to do with food but that’s not true. Technological implications on the food industry are quite wide. The extremely high internet usage and increasing trend home deliveries mean that restaurants need to have excellent websites that can attract customers and convince them to place orders. Once the order-taking is computerized, billing systems will need to be aligned with technology as well. There are increased regulations on food producers to follow strict standards of safety so that the customer has no doubt or apprehensions about the standards or quality of food they are consuming. Environmental The fast food outlets that are well known for serving meat products need to be extremely careful of activists rallying against mistreatment of animals in slaughter houses. Proper measures need to be taken to ensure these individuals that the food outlet is paying special attention to animal care. It is also important to realize that in toady’s extremely environmental conscious consumer, a restaurant paying special attention to environment has an extremely good public image. The food industry is no exception to the rule. Environment friendly packaging and reduced use of plastics as well as introduction of recyclable tissue papers have worked extremely well in establishing different outlets as house hold names for now the consumers are ensured that the food they are eating is not harmful for the environment. Law The fast food industry has to strictly comply with all the appropriate Health and Safety guidelines related with food. Failing

Entrepreneurship and Innovation in Organisations Essay

Entrepreneurship and Innovation in Organisations - Essay Example Explanations of corporate growth and development, and of the organization's ability to maximise profitability over time have increasingly relied on the entrepreneurial function (Greiner, 1972). Simply defined, an entrepreneur is someone who organizes and assumes the risk of a business in return for the profits. Entrepreneurial success depends on the ability to think strategically, have a clear strategic vision, and achieve quick results. The meaning of entrepreneurship is bound up with the concept of uncertainty. Entrepreneurs create value by acting in the context of uncertainty. As Knight (1921) puts it, the entrepreneur is the "organizer of uncertainties," which means he possesses the ability to creatively reorganize the relationships between factors of production and market opportunities in ways that create value which otherwise would not have been generated. The ability to organize wealth-generating relationships between factors of production presupposes that a market opportunity exists for the entrepreneur to capture. This gives rise to the concept of the entrepreneur as being "noticer of opportunity" (Kirzner, 1973). Entrepreneurial behaviour is, thus, described as action taken on noticed opportunities. Markets are almost always in disequilibrium and based on price disparity and information asymmetry, there always exists opportunity for arbitrage. This opportunity, however, only generates value for the noticing entrepreneur. It can be deduced that value is generated not only by an entrepreneur who is "organizer of uncertainties", but also by the entrepreneur who is "noticer of opportunities" (Jones & Butler, 1992). In entrepreneurship, once an opportunity has been acted upon, a series of internal forces begin to interfere in the entrepreneurial process. A distinction arises between entrepreneurship and management in the firm, leading to agency problems. The agency problem occurs when it is difficult for one party to evaluate the performance of the other due to uncertainty in environmental, organizational, or task conditions. Moreover, the motives of the parties to an exchange may be different giving rise to opportunism and, in turn, agency problem (Jones & Butler, 1992). In the entrepreneurial context, risk preferences cause an agency problem because the principal and agent have different risk preferences. Agency theory elaborates on the different risk preferences by discussing risk aversion of agents stating that the agents are only rewarded normal salary even though they have to bear the uncertainty of entrepreneurial activities. On the other hand, the principal is the residual claimant of all net revenues of the activities. The reward to the principal is the entrepreneurial profit for undertaking uncertainty whereas the reward to the agent is normal salary for risk taking. This disparity in reward structure gives rise to agency problem where agents have no incentive to behave entrepreneurial (Jones & Butler, 1992). Agents face an additional problem if they have injected any capital in the organization. This is because if the organization engages in a risky venture and faces bankruptcy, the agents lose their capital and have difficulty in securing equivalent alternative employment. Therefore, there is no incentive for agents to invest in the organization. This causes a misalignment of interests of principals or entrepreneurs and agents or managers and results in a loss in a firm's

P.E training program- fitness Essay Example for Free

P.E training program- fitness Essay General fitness- Speed is the ability to perform a movement or cover a distance in a short period of time. A mid fielder needs speed to out run other players or to catch on to a loose ball. Muscular endurance- is the ability of the muscles to work for a long period of time without tiring. In football you need it to be able to run around the football pitch for the whole 90 minutes. Flexibility- you lose flexibility as you get older. It is important to warm up and cool down before and after a match. In football most players in the team need to be flexible, for example to header the ball, but also the goalkeeper has to be very flexible to be able to make difficult saves. Cardiovascular endurance- requires the heart and blood vessels to supply the working muscles with oxygen for long periods of time without tiring too much. This is needed in football because you run around a lot and you need our heart and lungs to cope with the activity for the whole 90 minutes. Strength- is normally measured by the amount of weight the muscles can lift, or applying a force against a resistance. This is used in football when we tackle or are being marked and your shoulder to shoulder you need strength to hold others off. Skill related fitness- Balance- is the ability to keep up right while you are standing still or moving, this is needed in football when kicking the ball because you are balancing on one leg. Co-ordination- is the ablity to use different senses and body parts together in football this is needed between eye and foot, so you kick the ball and not miss especially volleying. Speed of reaction- is needed on the pitch so when an over ball is played your on-side and make your run perfectly to lose the defender. Timing- is needed in football to kick the ball at the right time to get the perfect touch. Agility- is the ability to change direction of the body in football we use this to help loose a defender by turning at speed, it can also help when your in the box for the corner to lose a defender so you can get up for a header. Physical skills- Kicking- is very important because the game is using your feet and you need to kick the ball to get the ball round the pitch. Shooting- is necessary to be able to shoot as in order to win the game you need to score and in order to score you need to SHOOT to ball into the goal past the keeper. Tackling- is very important to stop opponents from scoring but some times players timings are not quiet right and cause a dangerous tackle resulting in another players injury. Marking- is necessary to hold off opponents attacks and not ‘losing’ the person your defending. Heading- is important to either score from a high ball crossed in or clear the ball away from a opponent in the air. Dribbling- is very important to get the ball closer to your opponents goal. There is 2 types of dribbling: *Firstly when your jogging and keeping the ball closer to your feet. *Secondly when you knock the ball ahead of you a couple of metres and sprint to catch up with it, this is used to knock the ball past the defender. Other attributes- Concentration- is extremely important because if you’re a goalkeeper and you don’t have anything to do for 30minutes you might ‘switch off’ and let in a shot which if you were concentrating you would have saved. Motivation- is very important because if you want to win but go a goal down if you and your team are motivated enough you will be trying to score 2 goals and keep fighting. Confidence- is needed so you have the confidence in your self so you trust your ability and get ‘stuck in.’ Most important skills and techniques in football. Speed is essential in football; it is used throughout the game whether you are an attacker or a defender. For example if you are an attacker and you need to out run a defender to get the ball, to get past a defender and have a attack on goal or if your defending and there is a break you need to run as fast as possible with the ball (or in support) to the oppositions half to make an attack before their defenders catch up with you. Muscular endurance is needed 100% in football because if you are running around for 90 minutes your no use to your team if after 60 minutes you have a stitch and need to be substituted. Muscular endurance can be improved over time with a training program. Cardiovascular endurance is essential so that you can last the whole 90 minutes. If somebody’s cardiovascular endurance was not very good and they ran around for 90 minutes it could cause them to pass out because there heart and lungs can not take the strain. Smoking will also effect your cardiovascular endurance because if your trying to take in more oxygen the tar built up around your hearts arteries makes the oxygen’s gap smaller letting oxygen though slower then needed causing short of breath quicker. Balance is essential because in order to kick the ball you must stand on one leg, if you don’t have good balance you may fall over before your foot reaches the ball. Balance can not be improved, your either have good balance or you don’t. Co-ordination is important; football players need co-ordination between their eye and foot so they make contact with the ball. Skills on the ball are only preformed if the player has good co-ordination otherwise tricks become unsuccessful.

The differences of the 50s and the 90s :: essays research papers

During the fifties, to be the norm in society was to be the norm. To be the same was to be what every one else was being. Doing what every one else was doing was what was supposed to be what was being done. Did you catch all that? And then here we are in the nineties. In the nineties, to be the norm in society in to not be the norm. To be the same is to not be what every one else is being. Doing what other people don’t do is what is really expected to be done. Now, did you catch all that?   Ã‚  Ã‚  Ã‚  Ã‚  Let me elaborate on that a little bit. Pretty much, the point is that America in the 1950’s was a place where you are expected to be a normal person. America in the 1990’s and beyond is now almost a place where you are expected to do something different (or at least it isn’t a surprise when someone is different).   Ã‚  Ã‚  Ã‚  Ã‚  In a â€Å"normal† family in the 1950’s, the husband came home from working nine-to-five. In his home he would find his wife with dinner ready and the house clean. He would also find his two kids, and one dog, all doing what they are supposed to be doing. In a â€Å"normal† family in the 1990’s, the husband and wife come home from work, one at two a.m., and maybe one at two in the afternoon. They would find his kids (maybe), and they more than likely would not find them doing what they wanted them to be doing. The sun would have a red and green spiked Mohawk, and the daughter main concern is her hair’s buoyancy.   Ã‚  Ã‚  Ã‚  Ã‚  Neighborhoods in the 1950’s wre very close knit. People would say â€Å"Hi† to each other. Parents would reprimand children other than their own. Many problems were taken care of by the community, without questions asked. Communities now are loose knit, not caring to reccognise the existence of neighbors, let alone be involved with each others lives.   Ã‚  Ã‚  Ã‚  Ã‚  Today, families have very busy lives. They deal with family members on different schedules. Meals are generally served sporadically, depending on who needs what when. Fifty years ago, dinner was set at a certain time. Family members were expected to be there, and schedules worked around meals. No one watched television while they ate dinner, and the dinner conversation focus was on what happened during the day.

Free Education Essay

There is no such thing as ‘free education fully financed by the government’. A zero-tuition college education simply means that instead of the students bearing the cost of attaining their degrees the taxpayers bear it. Students and parents misperceive the price of education, considering it to be free, even though it comes out of their pockets in taxes. And why should low-income taxpayers finance the education of wealthier students? Proponents of state-financed education argue that absence of government help would put higher education out of reach of poor students. But I tend to disagree in that there are no ‘poor college students’. College-caliber students possess great wealth in the form of human capital. Anyone headed for college has enormous wealth in the form of intellectual capital and will receive earnings from his/her college education. So, the benefits of a college education are essentially reaped by the individual acquiring higher education. The future earnings of the individual typically constitute an adequate return on the gross investment in abtaining higher education. Moreover, providing free college education to all is a rather inefficient way to serve the interests of poor students since a large proportion of students who acquire higher education come from relatively well off families. There are many negative aspects of government-financed higher education. Free education leads to overproduction and waste. But, isn’t it good to have more young people with degrees? Don’t we need a more educated workforce for the more demanding jobs that will dominate our economy in the future? The answer to these questions is ‘no’. By putting more people in colleges we end up with unmotivated students who lower the standards demanded by higher education. In his book Generation X Goes to College, Peter Sacks explains how he was driven to make his courses intellectually vapid, easy and entertaining in order to improve student performance and keep his job. This is a result of classrooms being filled by indifferent students who want a degree with the lowest possible effort. The producers of higher education in a zero-tuition system are the only ones  having control over the quality of education. Financing of universities by the government leads to higher government control over them. Government officials regularly audit universities to check whether the money granted to them in the form of loans and research grants is being spent wisely. The downside of this is that the auditors may lack sufficient understanding of the technical specialities being evaluated. Also the government may enforce the hiring of faculty from minority groups, thus bringing down the quality of the teaching staff. More undesirable is the effect on the thinking of the academics. The state-subsidized scholar is reluctant to unearth ideas that bring into question his livelihood and that of his colleages. He is encouraged by his superiors not to bite the hand that feeds him. Thus, there can be no freedom of thought and freedom to explore new ideas under such a system. Most importantly, due to state financing of higher education, it is far removed from a free market. The cost of education is masked by the government subsidies. Government funding is a crucial intrusion into the market price of education. It is an intrusion which steadily raises the price to taxpayers, but reduces the perceived price of education to the educational establishment. As a result there is little incentive to control costs since they are already perceived as low. There is little incentive to promote innovations since people innovate when they feel the need to give consumer’s ‘their money’s worth’. Finally there is little incentive to respect the student who is the ‘customer’. In conclusion, I feel that the conventional wisdom about college education is wrong.We don’t need free education to get more students into college; we need to end the government subsidies so that college costs will be borne only by willing parties. We don’t need to try to make college attendance universal; we need to allow people to choose for themselves the type and extent of education that best suits them. Making college education fully government-financed goes against the basic objective of higher education – to allow the intellectual cream of society to specialize in their chosen field of interest.

Overview Of Securitization And Financial Structure Product Finance Essay - Free Essay Example

Sample details Pages: 7 Words: 2125 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? There have a larger number of developed countries faced a banking crisis (124 systemic banking crisis during the period from 1970 to 2007) and the recent global 2007-2008 financial crisis, which is different from many previous financial crisis that affected the global financial system during past several decades. Various studies investigated the role of securitization and structured finance product that causing the global financial crisis and banking crisis. This paper will base on some theoretical literature and examine current banking and financial crisis in order to provide a better understanding of the role of securitization and structure finance product as the reason of global financial crisis and banking crisis in the developed countries. This paper is organized in the following manner. The first part will briefly define what securitization and structure finance product are. The second part will highlight the role how securitization should play in the economy and why this role is important. It also evaluates the problem in subprime mortgage in the United State. The third part will present the development of financial innovation have effect to create, spread the crisis. Finally, the paper concludes with a brief summary. Don’t waste time! Our writers will create an original "Overview Of Securitization And Financial Structure Product Finance Essay" essay for you Create order 2. The overview of securitization and financial structure product 2.1. The overview of securitization Securitisation is as essential to the financial system as any organised markets are. Securitization has developed and played an important role in the banking. According to Jobst (2008), securitization is the process in which certain types of assets are pooled so that they can be repacked into interest-bearing securities. The interest and principal payments from the assets are passed through to the purchasers of the securities Furthermore, Mizen (2008) indicates that securitization played a key role in the financial market in the U.S. and strongly supports the financing of the financial system, in two main respects: First, securitization may contribute to the expansion of the financial support base by transforming illiquid assets into assignable securities for the long-term. Second, securitization may offer a better match between the borrowers and investors. Figure 1. The securitization Landscape (International Monetary Fund 2009:80) Covered bonds Securitization Pass-through securities: U.S government-sponsored enterprises mortgage-backed securities Real estate investment trusts Structure finance: Asset-backed securities and asset-backed commercial paper Mortgage-backed securities Collateral debt obligations 2.2. The overview of structured finance product According to Evans (2010), when securitization has different and unequal priority, this led to structure finance emerged. Firstly, there are three type of security including Senior, Mezzanine, and Junior. Then the development of structured finance product was more complex with Collateralised Debit Obligations, and CDO squared. This will be illustrated in the graph below CDO2 Mortgage MBS CDO The structured product has fluctuated dramatically in the last decade. For instance, in the United States and Europe, issuance finance structure product increases from 500 billion dollar to 2.6 trillion dollar, 2000 and 2007 respectively (Kodres 2008). However, in 2008 these quantities had declined sharply. 3. The development in the banking model amongst developed countries and The U.S subprime mortgage crisis 3.1. The development in the banking model amongst developed countries Looking at first, beginning in 1980s, Kidwell et al. (2007) indicates that there was an increase in the involve of banks and securitization which offers a number of benefit to banks such as banks can reduce the amount of liabilities and assets by selling more than holding loans; moreover, securitization offers a source of funding loan which is less expensive than other fund. In 1988, new kind of securities include commercial paper, securities backed which a process making loans tradable, et; that emerge in commercial bank Kidwell et al. (2007) offers the explanation of why commercial bank wants to operate as investment banking; the reason is the activity of investment bank was more profitable than commercial banking activity; furthermore, investment bank is more flexibility than commercial bank, in 1999 with the Financial Service Modernization Act. At the same time, in contrary, investment banks were allowed to get into activities, which was traditionally commercial bank activity. In contrast to investment banks, commercial banks focus on taking deposit and lending. However, the bank originating the loan did not necessarily fund the loan. Supporting this point, UBM TechWeb (2008) argue that the change in the banking models because some reason: firstly, commercial bank has advantages over investment bank: a good illustration of this is while commercial banks have enable to access to the discount window and enable to borrow from the Federal Reserve, the most secure liquidity source, investment bank have not have this condition. As a result, unlevered investment bank would either disappear or be transformed into commercial bank. On the other hand, Evans (2010) demonstrates that increasing the number of traditional model of banking becomes commercial banking which is more popular, larger, and relevant. According to Mullineux and Murinde (2003), banks play a vital role in the economy and the bank failure has led to the collapse of the financial system. The major cause of financial crisis is the banking area with the unbalance information, agency trouble and moral hazard. For example, banks in a number of developed countries have experienced severe banking crisis. In the sense, Laeven and Valencia (2008) point out banking crisis which means there are a greater number of non-payment in the financial sector, a countrys corporate and bank face huge problems repaying contracts on time which has led to the asset is excess liabilities The different between current crisis episodes and previous crisis episodes is the expansion of liquidity support not only to commercial bank like previous crisis but also to investment bank (Laeven and Valencia 2008). One of the advantages of commercial bank and investment bank is their off-balance sheet which can make use of assets for purposes of investment without risks of bankrupt to these banks system. For instance, investment bank does not maintain the securities of the company in its balance sheet and they sells them to investor, trading activity, which is more complex, risky, and different functions of classic on balance sheet such as loan expansion, deposit taking. For example: Traditional banks originated illiquid loans and funded them with liquid deposits. Consequence, decrease in deposit supply which leading to falls loan supply and reduce in the securities value Balance sheet Asset Liabilities Loan -securities 100 - 95 Deposit 90 securities falling value 40 Equity 10 -5 withdraw deposit 40 3.2. The U.S subprime mortgage crisis Jobst (2008) indicates that securitization started in 1970s. Park (2009) point out that during the period from 2004-2007, US subprime mortgage markets exploded and melted down, as an example, the housing bubble explode in early 2007 that led to quick decrease in the market value of many securities such as Mortgage Backed Securities, CMOs and CDOs. There are two types of mortgage in the U.S such as prime and subprime. Subprime mortgage means lenders used to offer mortgage, lower quality and nonstandard mortgages to borrowers with nonstandard income or credit profiles and one of these borrowers is Ninja loans borrowers have no income, little or no assets, and no job; After that these subprime mortgage loans were sold rapidly to Wall Street Company as collaterals for securitization. These loan were ensured high ratings, however, their value depend on the movements in the price of house. Therefore, when decreasing the price of house led to failure to pay the loan increased in the subprim e mortgage sector, as a result the crisis occurrence. 3.3. The role of securitization and structure finance product in the banking crisis and global financial crisis. Mizen (2008) point out commercial bank and investment bank undertake securitization through special purpose vehicles which create new asset-backed securities and enable sell the product with different risk ratings for each level. International Monetary Fund (2009) provides securitization play an important role in banks due to they allowed banks more actions in lending, liquidity risk and less cost for the bank to hold. Laeven and Valencia (2008) demonstrates that almost crisis have used generous liquidity support to deal with illiquidity banks; which means banks use Asset-backed securitization that is the process transformation of illiquid assets into liquid assets ( Mullineux and Murinde 2003). For instance, previous to the fail of the securitization, in the United States, Japan, and Western, asset-backed securities and covered bond offered the new residential mortgage loan approximately 20 to 60 percent. In addition, Park (2009) argue that A larger commercial banks acting as credit enhancers for the securitized instrument in order to satisfy the growing demand for new mortgage loans, that become most crucial materials for the securitization process Financial crisis: how it happened 4. The role of financial innovation in creation, spread of the crisis The current financial crisis is different and much more complex than earlier financial crisis because the development of financial innovation such as new ways of packaging, reselling assets in MBS and more complex, subprime mortgage which weaker fundamental assets (Mizen 2008). Park (2009) demonstrates that the primary cause of the current global financial crisis is the misuse of financial innovation such as new financial products, structure finance product, and risk management. Another reasons is balance sheet mismatches, on or off balance sheet To begin with, the question arises as to the traditional model of banking would find and make the loans and hold the loans to maturity and fund it themselves which bearing the credit risk. Many economists argued without securitization and structure finance the banking would be less bad loan made due to securitization and structure finance lend so many bad loan. Secondly, the securitization and structure finance play a vital role in banking crisis because of creating and spreading in many countries financial system, and deepening the crisis (Evans 2010) According to Evans (2010), there are a rose rapidly of securitization and structure finance in Europe and The United State due to they seem to be benefit for everybody. For borrowers they can access to international capital market and securities market that was unavailable to them previously and probably cheaper. In addition, for originators of loan could back the loan together without having to fund them. This led to emerge of subprime mortgage in securitization. On the other hand, Laeven and Valencia (2008) argue that in 1980, bank building society made many bad loans which not spread to another country; nevertheless, when U.S faced with problem in the housing market which spread to many countries. The reasons for this problem are when the dollar did depreciate against the Euro in the previous 2007; however there was not a decline sharply in the demand of US assets due to the use of dollar as a reserve currency. Moreover, the US mortgage market has spread with the speediness to many countries Evans (2010) highlight the reason of this is the securitization and structure finance product creates marketable securities out of the underlying non-marketable loans and complicated financial assets with relatively high-yielding assets and good credit ratings. In addition, King (2007) indicates that there was a strong demand for high yields assets such as MBSs and CDOs. Supporting to this point, Mizen (2008) argue that these securities, which were sold in the worldwide financial markets due to the high yields that attractive to investor. As a result, the subprime mortgage in the U.S spread internationally. Therefore, this clear that risk about uncertain of unfolding of the subprime crisis in the U.S was misprice and opaque in exposures and the complexity of structure finance product Evans (2010) highlight that the process of securitization and structure finance created very complex from the underlying loans, which led to the quality of these securities were opaque In addition, according to International Monetary Fund (2009), the securitization and structure finance have to become simpler, transparent in order to improve liquidity in the future 5. Conclusion As we know, the development of securitization and structure finance is vital for the financial market growth. It is undeniable that the role of securitization and structured finance products on financial market has caused the recent banking and financial crisis in the worldwide, particularly in developed countries. The recent crisis has been far more complex than earlier crisis because financial innovation has allowed new ways of packaging and reselling assets. From several decades, the securitization always changes their rules in order to achieve efficient and fair in their operation. Although there are some signs of improvement, in this sense, securitisation is still certainly unable to fulfil the objectives. However, if securitization works properly securitisation should be a welfare-improving tool which makes financial market more efficient and reduce transaction costs. Nowadays, there was an increase in securitisation which use by bank as a resort, beside with other innovations such as credit derivatives, which is the next step in the growth of securitization, and help to reduce barrier for investor. Given the rapid expansion of loan securitization (as well as the growth of loan sales and syndication), the results suggest that access to capital is less subject to variations in the supply of local deposits to banks than in the past. https://www.americansecuritization.com the importance of securitization