New York And Orange County Case Analysis

The panic of 1907 and the Great Recession of 2007-2009 has both been major economic events in the United States economic history. This paper compares and contrasts these two major events and enables us to understand importance of certain financial institutions and regulations during troubled times in the financial sector. In this paper, both panics of 1907 and 2007 are historically analyzed and compared.

Introduction Of Case: New Jersey v. T.L.O. (1985) is a court case heard and ruled on by the Supreme Court of the United States. The case dealt with the constitutionality of the search of a public school student after she had gotten caught smoking in a public school bathroom. The search provided evidence of drug paraphernalia, marijuana, and the intent of sale of drugs. The student fought the charges, stating that the search violated her Fourth Amendment rights. The United States Supreme Court ruled 6-3, that the search was reasonable under the Fourth Amendment.

In the case New Jersey v. T.L.O., the student’s purse was searched after the principal had reasonable suspicion that she had cigarettes in her purse since she was caught smoking in the bathroom. The court decision in this case concluded that teachers are acting as agents for the state and are therefore allowed to search if they have reasonable suspicion. Students do have the Fourth Amendment right as all people in America have. However, student’s expectation of privacy has to be balanced with the needs of the school to maintain the educational environment. Schools do not have to obtain a warrant to search, but must have reasonable suspicion in order to search a student’s person or property.

Since the nation’s very beginning, it has carried a debt from the American Revolution. Only once in the entire U.S. history has been the debt zero, during President Andrew Jackson’s administration in the 1830’s. President Jackson set a budget like the other future and past presidents, but actually stayed within its parameters. However, the debt kept growing after his presidency and reached $18 trillion dollars today. The world has changed a lot since the 1830’s, the methods used during that period can no longer be the solution in 2015 because there are just too many factors that must be considered. The size and the population of the country have changed dramatically, foreign relationships are far more complicated and broader, and people’s expectations of the government are different.

Murray, S. (2011). What the Government Debt Crisis Means to You. Retrieved from The Wall Street Journal. http://online.wsj.com/article/SB10001424053111904800304576478621267758678.html?KEYWORDS=national+debt

All day and all night, they battled the emergency with each instrument available to them to keep the United States and world economies above water. Working with two U.S. presidents, and under flame from a crabby Congress and an open angered by conduct on Wall Street, the Fed—nearby associates in the Treasury Department—effectively settled a wavering monetary framework. With inventiveness and definitiveness, they kept a financial fall of incomprehensible scale and went ahead to create the strange projects that would resuscitate the U.S. economy and turn into the model for different nations. Rich with detail of the basic leadership prepare in Washington and permanent representations of the real players, The Courage to Act relates and clarifies the most exceedingly bad budgetary emergency and monetary droop in America since the Great Depression, giving an insider 's record of the approach reaction (http://www.forbes.com/sites/richardsalsman/2012/03/06/five-financial-reforms-that-would-prevent-crises-and-promote-prosperity/#).

Imaging yourself accepting you’re first credit card and immediately you begin to frivolously spend all the money your bank offers you. However, come to find out, you didn’t realize there was a consequence to your spending and now you are eagerly trying to pay back the money you owe with interest. Now take that scenario and apply it to our government spending in the United States. The author of “Going for Broke,” Michael Tanner, explains in his book the current financial crisis America is subjecting themselves to in the long run. Governmental officials of various political parties are turning blind eyes to the ever-increasing concern of stability in the United States. More of our taxing paying dollars are being used to chip away at an increasing debt that our government has no intent on fixing. The goal of this paper is to address Tanner’s issues with the growing economic deficit of the American people and its complacent government. Some questions Tanner emphasis on are: what can of debt does America have, where is the taxpayers' dollar being spent on, and what will happen to our economy if nothing is fixed?

National Debt in the U.S. has expanded rapidly throughout the years. In 2012-2015 it has increased by 70 percent. Most spendings are obviously spent by government in unnecessary facilities. Many people ask why is it affecting us and why has the government not issued a reform to solve it. This worries us because it doesn’t only involve an internal debt but a national debt as well.

First, I will refer to Penn Central Transportation Company v. City of New York, 438 U.S. 104, 98 S.Ct. 2646 (1978), a landmark case in the field of historic preservation. In Penn Central, the main issue addressed by the Court was whether individual property rights or the City’s local historic preservation ordinances should prevail when it comes to a property assigned landmark status. The root of the case was the fact that the Landmarks Commission of New York City had denied the transportation company’s request to build a 55-story addition to the Grand Central Terminal. In response, Penn Central claimed a “taking” had occurred for not being able to develop their property in the way they had intended to do so (Tyler, Ligibel, & Tyler, 2009, p. 123). In his opinion, Justice Brennan stated:

During presidential bids for the White House and Congressional deadlines for increasing the debt ceiling, huge debates break out as to the enormous amount of debt incurred by the federal government. Throughout our nation’s history, national debt at this magnitude is a new things. The accumulation of this amount of debt has its consequences, especially when the debt hits the nations GDP (Gross Domestic Product), or the revenue the nation takes in per year.

Some cities are irresponsible with debt and bonds, therefore, becoming bankrupt. Consequently, investors are losing millions of dollars and the burden is being placed on tax payers. The NYT articles highlights Jefferson’s bankruptcy and debt of $4 billion. This came from a big sewer project and corrupt dealings. The hope was the capital project would be “pay-as-you-use”, this was not the case. The city is banned from the municipal bond market, preventing refinancing of old debt. The Bloomberg article explains the county has agreed to settle for a payment of $1.4 billion to JP Morgan & Chase, rather than the possible payment of $1.6 billion in a lawsuit.

In this essay, I will briefly explain what happened during the financial crisis of 2007-09, and also discuss the contribution of the government to the financial crisis.

In this case the New York Central and Hudson River Company was found guilty of its agent doing illegal deed regarding payment of rebates to another company. The New York Central and Hudson River Company were paying rebates to the American sugar refining company.

In Figure 2, we observe an overall increase in the Municipal Debt from 1997 to 2013. Making a parallel between state and local debt, the state debt shows a steady trend, while the local debt shows a significant increment during this period of time.

The National Government of a country consists of various characteristics, procedures, positions, and beliefs, that create a great comparison to such traits of a complex business. Whether it 's developing a nation 's annual budget, analyzing deficits or surpluses, accumulating government liabilities, or outsourcing to investors, the governments of all dominate nations have and will continue to run like any other successful business. In the case of a country, the economic, societal, foreign, military, and national strengths, are relying on the influence of a business mentality throughout the nations’ core government officials. Monetary liabilities, loans, or debts accumulated, contribute to the expansion, reconstruction, and continued stability of a country if acquired with the proper intentions. The United States of America historically exemplified what it meant to be a successful business, ultimately making proper business decisions to support economic and international stability. Maintaining the various structures of a powerful country, such as the United States, requires a surplus of funds that at times, are unavailable to the government. Throughout the history of the U.S, whether to fund wars, public programs or to stabilize the economy, the Nation has acquired a colossal amount of monetary debt. Although historically successful in maintaining a thriving economic state, the current and projected monetary liabilities of the United States, the result of continuous