Friends of Angelo Essay Example | Topics and Well Written Essays - 250 words

Friends of Angelo - Essay Example One of those programs he created was the friends of Angelo program. Through this program the firm offered rates that were below market value. Angelo used this program as a way to benefit politicians, friends, and other executives in the industry including Fannie Mae executives. Senators Chris Dodd and Kent Conrad were among the VIPs who received sweetheart mortgages under the Friends of Angelo program (Wsj, 2009). The existence of this program in the banking industry was very unethical. The societal implications of this scandal were significant. The actions of Countrywide were a contributing factor to the financial crisis that occurred in 2008. Between 2008 and 2009 there were 8.4 million job lost in the United States (Stateofworkingamerica). The preferential treatment that Countrywide applied through its friends of Angelo program was unfair to the common citizen. The actions of this company were also hurtful to other stakeholder groups of Countrywide particularly the shareholders and employees. The stock price of the company plummeted by 86% and the firm fired 11,000 employees (Cengage). Angelo Mozilo is an example of everything that is wrong with corporate America. Companies that lack leadership such as Countrywide have a very low chance of succeeding in the long run. Cengage.com. Business Ethics Video: Countrywide Financial – Securities Fraud. Retrieved February 9, 2015 from

Alphonsus Church Research Paper Example | Topics and Well Written Essays - 2000 words

Alphonsus Church - Research Paper Example The historical back ground of St. Alphonsus Catholic Church dates back to 1861 when Archbishop Peter Richard Kenrick made an invitation to the Redemptorists to construct a permanent home in St. Louis. Following the invitation, the Redemptorists bought three and one-half acres of land at Grand and Cook Avenues, and Father Francis Xavier Seelos paid a visit to the construction site of the future of St. Alphonsus â€Å"Rock† Church who was still in St. Louis in a parish mission preaching. On May 1st 1867, ground was broken for the church and on November 3rd the same year the cornerstone was put up in and blessed by the Rev. Joseph Melchers who was then the vicar general of the archdiocese. In 1887 the 22nd date of November, Rev. Augustus Tolton – the first African-American Roman Catholic priest – visited the St. Alphonsus â€Å"Rock† Church and met the Redemptorist Community then offered a mass which was meant for the School of Sisters on Notre Dame in their convent chapel within the church compound. Between the years 1887 to 2006 several invents that included the expansion of the activities of the church and alteration of the priests, clergy, deacons and pastors occurred. On 16th of August 2007, lightning struck the roof of the church resulting into a five alarm fire forcing the parish to celebrate their mass in the gym thereafter. This same year ( 2007) it was recommended that the church be closed to the fear of its structural deficiencies that in other words risked the lives of those who worshiped in it. This move was due to the concerns of human rights and need for worshippers safety that were considered as very important. Since then, worries have on people as if the church could be restored. Among the individuals who crucially expressed their concerns were the former parishioners of the church such as Terry Pittman, veteran harbor pilot and the current chairperson of the Sydney Ports Corporation who also had a better understanding of the historical building materials that had been used in the construction of the church.