Mark Shaffer Essays - Education, Critical Pedagogy, Multiculturalism

Mark Shaffer James Banks James Banks believes that there should be more multicultural education taught in schools. Education about ethnic diversity treats cultural pluralism within a nation-state by studying different traits from different groups, which determine one group from another. He believes that a major goal of education in a free society is acceptance of cultural pluralism as a national strength and not an obstacle. Individuals of various minority groups may maintain their ethnic identities while sharing a common culture with Americans from many different ethnic backgrounds. (http://ericae.net/edo/ED273539.htm) A suggestion made on how to incorporate more multicultural issues is that social studies education should build consensus on core civic values important to all Americans. These include the rule of law, representative and limited government, and civil liberties, including toleration of the respect of the rights of individuals and ethnic minority groups. Banks believes that educators who recognize and respect their students' ethnic identities should also prepare them to assume common obligations and responsibilities of citizenship which involve shared civic values embodied in basic documents of the American heritage. Although students and teachers may participate variously within different microcultures, they also come together within the American mainstream culture, especially the civic culture. (http://ericae.net/edo/ED273539.htm) James Banks has four basic levels to what he thinks will reform the curriculum. Level 1 is called the contribution approach. This is when the Heroes, heroines, holidays, foods, and discrete cultural elements are celebrated occasionally. (See the chart) This is the level I think most schools are at now. Level 2 is called the additive approach. This is where things are added to the curriculum without the structure changing. Level 3 is called the transformation approach. This approach says, the structure of the curriculum is changed to enable students to view concepts, issues, events, and themes from the perspectives of the diverse ethnic and cultural groups. (See the chart) Finally, the 4th level is called the action approach. This is when the students are encouraged to take action to help solve important personal, social, and civic problems. (See the chart) It would not be a hard thing to incorporate diversity issues into a physical education class. Every sport or dance or activity had to originate from somewhere. So what I would do is give each child a sport or activity to do a project on. Each child would get a different activity that came from a different place. The child would then teach the class about his or her activity and where it originated. This activity, I think, would best fit into Banks level three. The structure of the class would change and the students would learn things that are taught nowhere else in the school. References 1. The chart 2. http://ericae.net/edo/ED273539.htm Bibliography References 1. The chart 2. http://ericae.net/edo/ED273539.htm

Free Essays on Learning English In The Mathematics And Science Classroom

is the exploration of word origin in an effort for students to grasp mathematical languages. The second strategy: everyday language, can be used as a strategy to develop mathematical knowledge and communication. According to the writer, teachers should not overlook everyday language as a learni... Free Essays on Learning English In The Mathematics And Science Classroom Free Essays on Learning English In The Mathematics And Science Classroom Stepanek the author of the article quoted that learning is the process of developing and negotiating meaning, which is usually through the medium of language. The author further stated that because language is the primary means of teaching, student’s ability to participate in mathematics and science is dependent on their language ability. The writer didn’t limit the importance of language to just teaching, she also stated that it is in the way they think and communicate what they know. The writer in support of Language and learning mathematics quoted Cocking â€Å"language proficiency plays a role in mathematics achievement.† The author of the article in promoting the use of language highlighted a suggestion made by Warren, Rosebery and their Cheche Konnen colleagues, which encourages teachers to rethink their approach, using diverse languages as a bridge rather than a barrier to learning mathematics. The author of the article highlighted two tools/ strategies to enhance mathematics through language development, they are: finding the right words and using everyday language. In this are the author suggest that the languages of mathematics and science are different from the language that students use socially, therefore what the author is saying is that students are likely to benefit from languages that targets unfamiliar words, expressions, and syntax. A key area the author highlighted when finding the right words is a need for the students to learn the difference between how words are used in an everyday context and their meaning in mathematics. The final area highlighted by the author under finding the right words is the exploration of word origin in an effort for students to grasp mathematical languages. The second strategy: everyday language, can be used as a strategy to develop mathematical knowledge and communication. According to the writer, teachers should not overlook everyday language as a learni...

What are the main causes of global warming Essay

What are the main causes of global warming - Essay Example The earth’s atmosphere usually traps solar radiation, through gases such as Carbon IV oxide, methane and water vapor; these are called the greenhouse gases, which allow incoming radiation to pass through, but traps and retain the heat radiated back from the earth’s surface (Dahlman & Renwick 96). This phenomenon is called the greenhouse effect. Global warming is simply an enhanced form of the greenhouse effect, caused by a major upsurge in the greenhouse gases in the earth’s atmosphere. The gases trap more and more radiation leading to an overall increase in the earth. For global warming to occur, a lot of factors come into play. However, scientists have concluded that human activity is the leading cause of global warming. This happens in two main ways: burning fossil fuels, which is the main cause and deforestation. When fossil fuels are extracted and burnt, they release CO2 and other greenhouse gases. Increased CO2 in the atmosphere is the biggest concern because it can last in the atmosphere for generations. Deforestation only happens to accelerate the problem further. This is because most of the cleared trees, when burnt, also release CO2. Furthermore, we know that forests require CO2 for photosynthesis. In the process, plants are able to reduce the amount of CO2 in the atmosphere. Clearing trees therefore leads to the build of carbon IV oxide, which in turn raises the earth’s temperatures. Global warming causes climate change (Dahlman & Renwick 96). This is unpredictable and mostly devastating changes in weather such as the Hurricane Sandy and other extreme climatic events such as the melting of the polar ice. These changes therefore call for all the people in the world to join hands to try to reverse and in the end eliminate this process. Among the strategies set forth to combat global warming include afforestation, which is the planting of forests where they were depleted,

The Sale of Human Organs Research Paper Example | Topics and Well Written Essays - 2000 words

The Sale of Human Organs - Research Paper Example This research will begin with the statement that Legalisation of the sale of human organs may seem absurd and weird to some people based on their own different ideologies. However, to some people, it seems very find and they find no problem with it. This is what has therefore brought a huge controversy on the issue of selling human organs. Satz states that arguments have been raised so far to justify the two sides but it is not clear what stand should prevail. What can be traced from history is that all people find the donation of human organs to be something divine but on the contrary, find the sale of human organs to be a sinful act. In regards to this controversy, there are, however, plenty of arguments to justify the sale of human organs. These arguments, by all means, try to reveal the need and advantage of permitting people to make the sale of their organs in open markets without any questioning or any restriction of any kind at all. As much as most countries may hold their law s on the illegality of selling human organs, the laws have no power at all given the fact that people have the free will to make a sale on their sperms and reproductive eggs. Sperms and reproductive female eggs are parts of a human body too and people are allowed to sell them. Hughes argues that there must be no reason to forbid people from selling other organs of their body like liver and kidney. After all, for any human being to decide to sell their organs, it must be out of their own free will and consent.

Fungal And Bacterial Amylase During Starch Breakdown Biology Essay

Fungal And Bacterial Amylase During Starch Breakdown Biology Essay The lab conducted focused on examining the effects of temperature on the ability of fungal and bacterial amylase to breakdown starch to maltose, and determine the temperature at which these two amylases work best, which is known as optimal temperature. The experimental part of the lab consisted in setting up the utensils that were going to be used during the actual experiment. During this section test tubes were labeled, and spot plates were placed in temperature/ time table created. For the second section of the experiment, iodine was placed in each row of the spot plates for each temperatures, and the solutions in the test tubes( bacterial , fungal amylase and starch mixture) were added to those same spots were iodine was added, depending on the time and the temperature corresponding to each amylase. The optimal temperature was deducted by observing the color change in the spot plates and comparing them with a color-coding scheme for starch hydrolysis. Conclusions for this task were reached by analyzing the data collected by each group, which suggests that a change in temperature disturbs the activity of enzyme amylase. When exposed to low and high temperatures, these enzymes were not able to function properly, therefore, reducing or eliminating their ability to breakdown certain compounds, especially starch. Enzymes need maintain at a certain temperature to be able to function at its optimal. Introduction: Enzymes are complex proteins produced by all living organisms with the function of enhancing chemical reactions through a process known as catalysis. During this process, the substrates, which are the molecules that will undergo the reaction, binds to the active site of the enzyme to form different molecules called products. Each active site on the enzyme is unique, permitting only substrates that match the shape of the active site to bind to the enzyme in a process known as lock and key model, however, active sites are able to adjust their shape to permit the binding with a substrate through the induced fit model, which moves entire protein domains (Raven et al., 2008; Ringe Petsko, 2008; Whitehurst Van Oort, 2009). Catalysts, like enzymes, work by reducing the amount of energy required for a chemical reaction to take place by linking two substrates in the correct orientation or by accentuating chemical bonds of a substrate, which reduces the energy difference between reactants and transition state. Enzymes are not consumed or changed during the reaction and they do not alter the equilibrium of the reactions they catalyze (Garcia et al, 2004; Raven et al., 2008; Whitehurst Van Oort, 2009; Alberte et al., 2012). The activity of enzymes is affected by multiple factors, including 1) pH (ranges from pH 6 to 8), 2) temperature (Rate of reaction increases with temperature, but only up to a point called optimum temperature. A change in temperature, either below or above the optimum, causes the active site to denature, decreasing or preventing substrate binding. When exposed to low temperatures enzymes are not flexible enough to permit induce fit, and in high temperatures enzymes are too weak to maintain their shape.), 3) substrate concentration (If amount of enzyme is preserved constant and substrate concentration is gradually increased, the reaction velocity will increase until it reaches a maximum. After this point increasing substrate concentration will not increase the rate of reaction), 4) allosteric inhibitors and activators (Inhibitors are substances that bind to an enzyme and decreases its activity, and they can occur in two ways; competitive inhibitors and noncompetitive inhibitors. Effec tors that enhance enzyme activity are referred to as allosteric activators, which bid to allosteric sites to keep an enzyme in its active configuration), and 4) cofactors (Many enzymes required the presence of other compounds, called cofactors, which during the catalytic activity, A cofactor can be a coenzyme, a prosthetic group or a metal ion activator (Harisha, 2006; Raven et al., 2008; Whitehurst Van Oort, 2009). Enzymes have a wide spectrum of functions in the bodies of living organisms; they are present from signal transduction to generation of muscle contraction. The also break starch molecules, forming smaller fragments of maltose, which can be easily absorbed by mammals. And it is the ability of enzymes to breakdown starch and the effect of temperature during this process that will be analyzed in the lab (Whitehurst Van Oort, 2009; Alberte et al., 2012), expecting that the results collected confirm that temperature does have an effect in bacterial and fungal amylase activity. Methods: The experiment should be performed once per group, using fungal (Apergillus oryzae) and bacterial amylase. Starch catalysis will be monitored by using Iodine test, which turns from yellow to blue-black in the presence of starch. Experimental Setup Place a paper under the spot plates and label the top side with temperature values 0,40,60,95 Â °C, and the side with the times 0,2,4,6,8,10 min. Obtain 4 test tubes and label each with a different temperature, enzyme source, either bacterial or fungal and group number. Repeat previous step, but this time include the letter S, which stands for Starch solution. Finally add 5ml of 1.5% starch solution into each of the test tubes labeled S. Effect of temperature in amylase activity Add 1ml of amylase into each of the test tubes that do not contain starch, and place the 8 test tubes (4 containing starch and 4 containing amylase) into their respective temperatures, allowing all test tubes to equilibrate for 5 minutes. Add 2-3 drops of iodine to the first row of the spot plate corresponding to o minutes. After 5 minutes has passed and test tubes are equilibrated, transfer a few drops of starch solution from each temperature to the row where you added the iodine. Pour the starch solution into the tube containing amylase without taking it put of bath, and set the timer for two minutes. Add 2-3 drops of iodine to the second row, and after 2 minutes has passes, transfer a few drops of the starch-amylase mixture from each tube to the 2 minutes row using the pipette correspondent to each temperature. After each additional 2 min, add 2-3 drops of iodine and a few drops from starch amylase mixture. At the end of 10 min, note the temperature and the time at which 100% hydrolysis occurred. Repeat the procedure using the other amylase type, and using the color-coding scheme convert results into numerical values. Results: Temp (Â °C) 0 40 60 95 Time (min) 0 5 5 5 5 2 4.333333 3.166667 3 5 4 4.166667 3.083333 2.833333 5 6 4 3 2.75 5 8 4 3 2.683333 5 10 3.833333 3 2.75 5 Table 1: Class Average for Bacterial Amylase activity After all groups performed the experiment, a class data for bacterial amylase was collected. The average of the data was calculated and presented in Table 1, showing color changes for each temperature. Temp (Â °C) 0 40 60 95 Time (min) 0 5 5 5 5 2 3.333333 2.666667 3.166667 5 4 3.333333 2.666667 3.083333 5 6 3.333333 2.666667 2.833333 5 8 3.333333 2.416667 2.833333 5 10 3.333333 2.416667 2.833333 5 Table 2: Class Average data for Fungal Amylase activity After all groups performed the experiment, a class data for fungal amylase was collected. The average of the data was calculated and presented in Table 2, showing color changes for each temperature. Graph 1: Class Average for Bacterial Amylase activity Graphical Representation Results from Table 1 exposed in a graph, showing that all groups optimal temperature for Bacterial amylase is 60Â °C Graph 2: Class Average Data for Fungal Amylase activity Graphical Representation Results from Table 2 were exposed in a graph, showing that all groups optimal temperature for Bacterial is 40Â °C Figure 1: Color coding-scheme for starch breakdown Starch hydrolysis color coding scheme is used to determine the optimal temperature for each amylase during starch breakdown Figure 2: Bacterial amylase activity spot plate Group number 1 spot plate during bacterial amylase experiment showing the amylase reaction during each temperature Figure 3: Fungal amylase activity spot plate Group number 1 spot plate for fungal amylase experiment showing starch breakdown during each temperature Graph 3: Bacterial Amylase Activity graphical representation Bacterial amylase activity data taken from table 1 showing that optimal temperature for this kind of amylase according to group 1 is 60Â °C Temp (Â °C) 0 40 60 95 Color # Color # Color # Color Time (min) 0 blue/black 5 blue/black 5 blue/black 5 blue/black 2 blue/black 4 med brown 3.5 light brown 3 blue/black 4 blue/black 4 light brown 3 light brown 3 blue/black 6 med brown 3.5 light brown 3 dark yellow 2.5 blue/black 8 med brown 3.5 light brown 3 med yellow 2 blue/black 10 med brown 3.5 dark yellow 2.5 med yellow 2 blue/black Table 3: Bacterial Amylase activity Group 1 recorded color changes for each temperature during breakdown of starch by bacterial amylase, and it was represented in numerical values by using color coding scheme presented in Figure 1 Graph 4: Fungal Amylase Activity graphical representation Fungal amylase activity data taken from Table 4 showing that optimal temperature for this kind of amylase according to group 1 is 40 Â °C Temp (Â °C) 0 40 60 95 Color # Color # Color # Color Time (min) 0 blue/black 5 blue/black 5 blue/black 5 blue/black 2 light brown 3 dark yellow 2.5 light brown 3 blue/black 4 light brown 3 dark yellow 2.5 light brown 3 blue/black 6 light brown 3 dark yellow 2.5 light brown 3 blue/black 8 light brown 3 med yellow 2 light brown 3 blue/black 10 light brown 3 med yellow 2 light brown 3 blue/black Table 4: Fungal Amylase Activity Group 1 recorded color changes for each temperature during breakdown of starch by fungal amylase, and it was represented in numerical values by using color coding scheme presented in Figure 1 Temp (Â °C) 0 40 60 95 Time (min) 0 0 0 0 0 2 0.408248 0.258199 0 0 4 0.258199 0.258199 0.258199 0 6 0.316228 0.316228 0.418330 0 8 0.316228 0.316228 0.376386 0 10 0.516398 0.316228 0.418330 0 Table 5: Class Average Standard Deviation for Bacterial Amylase activity From the results from Table 1, the standard deviation was taken, showing that the results collected by each group for Bacterial amylase are close to average results. Graph 5: Class Average Standard Deviation for Bacterial Amylase activity Graphical Representation Data from Table 5 was exposed in a graph, showing that the difference between the mean and the samples collected by each group is minimal. Temp (Â °C) 0 40 60 95 Time (min) 0 0 0 0 0 2 0.408248 0.516398 0.68313 0 4 0.408248 0.408248 0.66458 0 6 0.408248 0.408248 0.68313 0 8 0.408248 0.491596 0.68313 0 10 0.408248 0.449868 0.68313 0 Table 6: Class Average Standard deviation for Fungal Amylase Activity From the results from Table 2, the standard deviation was taken, showing that the results collected by each group for Bacterial amylase are close to average results. Graph 6: Class Average Standard Deviation graphical Representation Data from Table 6 was exposed in a graph, showing that the difference between the mean and the samples collected by each group is minimal Discussion: After evaluating the results of the experiment, present in Table 1 and 2 it can be concluded that the data provides enough evidence to support the predictions or hypothesis presented in the introduction section that when temperature is not optimal for an enzyme, it will denature or reduce its functions. The results showed that low or high temperatures have an effect in the ability of enzymes to break down starch (Graph 1 and 2). By comparing the results with color coding scheme provided (Figure 1), the optimal temperatures for both amylases were able to be determined. The optimal temperature for the enzyme had a bright yellow color, which meant that the amylase was able to breakdown the starch present in the solution; when the solution remained blue-black the enzyme is said to be denature, meaning that it was not capable of breaking down the starch( Figure 2 and 3). The most important parameters taken into account to get the previous results were temperature and time. Looking at the color for the reaction between starch and amylase, by using the Iodine test, it can be concluded that for bacterial amylase, the optimal temperature is 40 Â °C, and this occurs around the 6 minute time. Fungal amylase optimum temperature was reached at 6 minutes time and it was 60 Â °C. All the previous result can be observed in Figure 2 and 3, as well as in Graph 1 to 5 Table 5 and 6 show that the results of the experiment are consistent for all lab groups, because the difference between the sample data collected by each individual group and the average of that data is minimal, showing that, the results collected by each group are close very close to be accurate. What parameters of the experimental design were important in the expected (or unexpected) results? The expectations for the experiment concurred with the results, because a previous understanding of enzymes was given in the lab manual, however, the optimal temperatures were not exactly known because each enzyme works best depending on its environment. For future research, the range in temperature should be more variable, not only including positive values, but negative ones. Also, if enzymes sources had more variation, it will provide a better understanding of the optimal conditions and temperature of enzymes. Literature Cited/ References: Alberte J., Pitzer T., Calero K. (2012).General Biology Lab Manual / Second Edition. Florida International University: The McGraw Hill Companies. Garcia-Viloca M., Gao J., Karplus M. Truhlar D. G.(2004). How Enzymes Work: Analysis by Modern Rate Theory and Computer stimulations. Science 303:pp. 186-195. Harisha S. (2006). Introduction to Practical Biotechnology. India: Laxmi Publications. Raven P., Johnson G. B., Mason K. A., Losos J. B., Singer S. S. (2008). Biology 8th edition. New York: The McGraw Hill Companies. Ringe D., Petsko G. A. (2008). How Enzymes Work. Science 320: pp. 1428. Whitehurst R. J., Van Oort M. (2009). Enzymes in Food Technology: Wiley-Blackwell; 2nd edition.

Arthur Schnitzler’s dream story Essay

The focal point of this paper is to discuss and evaluate Arthur Schnitzler’s ‘Dream Story’ in the light of the inevitability of the conflict between desire and social responsibility. The source text is the translation of the original German work ‘Traumnovelle’ by author Arthur Schnitzler. The translation is done by J. M. Q. Davies. Arthur Schnitzler was an Austrian doctor by profession and was a noted author of his time (1862- 1931). His noted works includes Dying, Lieutenant Gustl, Berta Garlan, Blind Geronimo and his Brother, The Prophecy, Casanova’s Homecoming, The Road into the Open, The Green Cockatoo, The Lonely Way, Countess Mizzi and Living Hours. Dream Story was written in 1926 and is regarded as a novella by the critics. It could be enumerated as a plot that ventures into the inner self of Doctor Fridolin and narrates the incidents from his psychological perspectives and the eventual transformation of his self. The entire episode is formulated over a relatively brief period of time spanning over a period of 48 hours. Within this short time span Arthur Schnitzler incorporates several characters that Doctor Fridolin meets and which the author imports to create a world of affairs that provides us a clue of the circumstances that are inevitable in the immediate future. This immediate future culminates into the development of a masquerade ball where the author culminates several events that are wondrous in nature with the presence of individuals in masks. There is a flurry of sex involved with the indication of danger where Doctor Fridolin finds himself to be placed as a total outsider. Everything in this episode is projected as a point of view that is seen from the perspective of Doctor Fridolin. This part appears to be presented predominantly as a metaphor of Doctor Fridolin’s inner self of desire and lust. This episode of masquerade ball adds to the mystery of self discovery of Doctor Fridolin. Here the self discovery of Doctor Fridolin could be enumerated as a decent into the abyss of his self image. This is also a transition of relations among people in a certain sense too where the outer world is found to be involved in the changes along with individual shift of priority of life and discovery of greater truth of nature within the parameters of social norms. This novella could also be depicted as a plethora of symbolism and imagery where a person revels himself to the audience and the inner self at the same time that is predominantly psychological in nature. Arthur Schnitzler was a friend and contemporary of the noted psychoanalyst Sigmund Freud of Vienna. However, these two men had opposite theories, if not different, on human sexuality. Arthur Schnitzler firmly believed that the course of action of human sexuality is dependent upon instinct than anything else. But despite all the differences it is evident that a heavy influence of Freud can be felt while going through the text. This is exactly what is reflected in his novella ‘Dream Story’. For an age of 1920’s it is obvious that his views along with this work was extremely shocking as a subject and its narration as the basic conceptualization of the novella is based on the sexual fantasy of a couple and the eventual defoliation of relation due to these fantasies. On the other hand this novella could also be taken up as an account of truth, permissible or not, that is juxtaposed within the system of marriage and self individuality. The storyline zooms in the intimate conversation of the primal characters Fridolin and his wife Albertine. They are basically quite affluent and respectable in Vienna. The wife is found to be an able home maker where the central position is occupied by their daughter who is six. The conversation takes off when the little girl is put to the bed. The subject of the conversation is about the masquerade ball that they attended. Initially the dialogues were kept into the parameters of the adventures of Fridolin and his wife Albertine in the mask ball. Soon, the conversation developed into the stage where they revealed to each other that if there was enough chances and coincidences along with favorable situations both of them would have been unfaithful to each other. For the man it was a fifteen year old girl and for the wife it was man with a yellow suitcase. Both of them wanted to take revenge on the other and before the dialogue was able to unfold into greater adversaries they were interrupted by an emergency call from a patient. The doctor had to leave. From this point the novella turns into an intermingled atmosphere of mystery, fantasy and fairy tale mode. Doctor Fridolin is approached by numerous women for sexual pleasure or otherwise and Doctor Fridolin passes from one woman to another and ultimately ending up into the midst of a masquerade ball where the password appeared to be â€Å"Denmark† and as his friend told him there would be lots of naked women. But there is problem with this secret society. If one is identified as an outsider there is sure to be trouble. Doctor Fridolin is soon traced out as an outsider but is saved by a mystery woman. Now the paradox of social responsibilities and desire completes a full circle as the author indicates indirectly the identity of this mystery woman. This is because there is every chance that this woman is Albertine, but with no specific proof for Doctor Fridolin. Thus the social responsibility of a wife towards her man is completed successfully by the mystery woman if the woman is indeed his wife. Now if the mystery woman is really his wife Doctor Fridolin has every reason to be cheated as she appeared in the orgy. But at the same time Doctor Fridolin himself had every intention to join the orgy. Thus the paradox continues. Either it is desire that is to be forecasted and relished by an individual or it is important to engage into the human spirit of social interest? The answer appears to be cleared by the author himself in a way, though not in a very vivid manner, as he puts the social relation between a man and a woman hanging without ramifying the norms of the society by a large extent. Doctor Fridolin is saved by Albertine and that seems to be the bottom line of the story where the man understands the value of social bondage after an outrageous adventure of inner self. Reference Schnitzler, Arthur; Dream Story; translated by J. M. Q. Davies; Penguin Books; 2005.

Case enron Essay

Enron faces most of the risk ordinarily faced by any energy company, including price instability and foreign currency risks. Enron operated in many different areas of the world with different regulatory and political risks. Enron faced business risks such as a complex business model, extensive use of derivatives and special purpose entities, aggressive transaction structuring and accounting, rapid expansion of business through complex and unconventional ventures, extensive reliance on credit rating, and limitations in GAAP. The complex nature of the business model of Enron increased the likelihood of material misstatements. It enabled the management to overstate its revenue while not disclosing the actual value of its debt. The risk of fraud by management was high. The transactions involving SPE’s essentially involved Enron receiving borrowed funds that were shown as revenue without recording liabilities. Also, the amount of misstatements was huge as Enron had hundreds of such SPE’s. Complex financial derivative transactions were used to hide enormous amounts of debt. Huge increases in borrowing were made to look like hedges for commodity trades rather than new debt financing. The network of SPE’s along with complicated speculations and hedges kept an enormous amount of debt off the balance sheet. The accounting standards were inadequate in providing for the proper accounting of these transactions. The loopholes in the standards were used to structure transactions in such a way that hundreds of SPE’s were excluded from consolidation. Also, the management took advantage of the complexity of accounting standards to shroud the actual economic substance of the transactions. Adequate disclosures with regard to related party involvement and securing outside SPE investors against possible losses were not made.