Credit crunch between 2007 - 2009 Essay Example | Topics and Well Written Essays - 2750 words

Credit crunch between 2007 - 2009 - Essay Example Credit crunches are usually considered to be the predecessor of recessions. A credit crunch makes it almost impossible for business organisations to borrow as lenders are scared of insolvencies or defaults, which produce in high interest rates. The outcome of such scenario is extended slow recovery resulting from the supply of credit having shrunk (Duca & et. al., 2010). Credit crunch was caused in 2006 when the housing market crumpled. At the time of credit crunch, a certain numbers of the mortgages were intended for a division of the market, specifically subprime mortgages, their designed interest payment rates involving to refinance them within undersized phase were tried to be launched to avoid hikes in the mortgage rates. The mortgage refinancing demonstrates the fact that the prices related to housing market would likely to increase. Thus, the disintegration in the housing market defines a flow of the future non-payments in the subprime areas (Acharya & et. al, 2009). The finan cial crisis of 2007 initiated in the subprime mortgage industry in the United States. Apart from being restricted to the real estate market, the effects of the subprime fall down spread throughout the US economy as well as the global markets. The impact has been mainly severe on the financial industry, as numerous investment banks had a short but wide records of utilising Mortgage-Backed Securities (MBS) as a way to spread risk and free up other capitals (IESE Business School, 2009). The households and the institutions such as pension funds along with life insurance companies and mutual funds are the ultimate lenders investing in support of households. It is worth mentioning that certain credit will be offered to the borrowers directly from the lender, as is the case with municipal bonds and corporate bonds as well as treasury securities. The vastness of the credit financing intermediated in the economy through the banking system, deduced broadly. It is quite significant to comprehe nd the operation of financial intermediation as well as a way in which the emergence of banking system took place since the past few years. It is also vital to recognise the global financial crisis that took place in the year 2007 and thus generate standards such as short-term and long-term crisis management standards so that a flexible financial system can be generated (Adrian & Shin, 2010). The main objective in this study is to illustrate the economic impact on the US that have taken place due to the credit crunch, economic crisis and to reassess the measures that have been taken by the authorities to address the crucial issues that have generated those events. Economic Impact of Credit Crunch in the US There has been a certain significant economic impact of the credit crunch in the period of 2007-2009 in the US which coincided with the global recession. The economic impacts have been discussed below: Housing Bubble: The bursting of the housing bubble in the US affected banks to write down large losses that had been extremely amplified and also created a large number of confusions in the financial markets, and also resulted in the defaults, the liquidity dry ups, the bailouts of banks and financial institutions. As consistent flow of financing is an absolute obligation for the economic system, the financial disruption caused a growing doubt about the macroeconomic position, a wide-ranging increase in risk aversion and a strong deterioration in the actual economy, with unfavourable

Guidelines for device based therapy of cardiac rhythm abnormalities Research Paper

Guidelines for device based therapy of cardiac rhythm abnormalities - Research Paper Example Recommendations in guideline for the device based therapy of cardiac rhythm abnormality has proved to be beneficial for reducing the risk of sudden cardiac death and has improved quality of life. However, multi-centric clinical trials are needed to find an optimal timing for the implant for an indication. Guidelines for device based therapy of cardiac rhythm abnormalities. Cardiac arrhythmias are still a major threat to human health and are so deadly that they are responsible for 50% of all the cardiovascular deaths related to the cardiovascular system (Piccini, Al-Khatib, Myers, Anstrom, Buxton, Peterson, & Sanders, 2010). Arrhythmias are not always pathological; they can be physiological like bradycardia in athletes and tachycardia during anxiety. Physiological cardiac arrhythmias usually do not need any treatment, they are recovered spontaneously but, pathological arrhythmias require heroic management. Anti- arrhythmic drugs and anti-arrhythmic devices are employed as a treatment strategy for arrhythmias. Implantable cardioverter-defibrillator, pacemakers and cardiac resynchronization therapy are the devices used to prevent death from arrhythmia; use of anti-arrhythmic devices are significantly associated to reduce mortality associated with arrhythmia (Piccini et al., 2010). Devices are used to prevent arrhythmia according to the guidelines of the American Heart Association, published in 2008. Guidelines for device based therapy of cardiac rhythm abnormalities were designed by experts from the American College of Cardiology in collaboration with the American Association of Thoracic Surgery and Society of Thoracic Surgeons. The Recommendations were made after a thorough literature search so that treatment strategy can be standardized and clinical evaluation of patients can be made easy. The Guidelines aim to reduce inappropriate decisions for implantation of cardiac devices, provide confidence to cardiac consultants.When related to devices, guidelines are mea nt for promotion of their appropriate use and to abandon it’s under and over use (Epstein et al., 2008). Critical evaluation of all diagnostic procedures, diagnostic scales, and guidelines is necessary because it is directly related to appropriate health care delivery ( Epstein et al., 2008). Evidence based critical evaluation of guidelines is a scientific means to judge effectiveness of the guideline in promoting good patient care. Critical evaluation of the guidelines for device based therapy is inevitable to judge the pros and cons of the guideline; it also helps to find any danger, if associated with the recommendations. Scientific critics of the guideline are important means to generate new recommendations in order to make the guideline more favorable. Since it is related to the cardiology, critical evaluation of the guidelines for the implanted anti-arrhythmic devices are more demanding because negligence may take a patient's life in a few minutes. The nursing staff is usually the first hand care providers in hospital settings. Being medical professionals, it is inevitable for them to understand the importance of guidelines; they should know the recommended guidelines of device based management of cardiac arrhythmias because after treatment, patient’