Types Of Derivatives Traded Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1354 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Critical essay Did you like this example? OTC derivatives are contracts which are privately negotiated and traded directly between two parties. Trade takes place excluding exchange and other intermediaries. Being largely unregulated when it comes to disclosure of information, the OTC derivatives market is the largest market for derivatives. Don’t waste time! Our writers will create an original "Types Of Derivatives Traded Finance Essay" essay for you Create order Products such as swaps and forward rate agreements are examples. Given that trades happen in private, recording of OTC figures is difficult and this can be clearly noted from the Bank for International Settlement (BIS) figures. The total outstanding estimated amount is $684 trillion (as of June 2008). Of this total notional amount, 67% are interest rate contracts, 8% are credit default swaps (CDS), 9% are foreign exchange contracts, 2% are commodity contracts, 1% are equity contracts, and 12% are other. ETD contracts act as an intermediary to all related transactions. These derivatives are traded with the use of specialized derivatives exchanges. According to BIS, the combined turnover in the worlds derivatives exchanges totalled USD 344 trillion during Q4 2005. These publicly traded derivatives are distinctive from other derivatives even though they are derived from other financial instruments. Thus, even though these publicly traded derivatives are underlying, they can still be considered as distinctive because they provide to investors the access to risk, or reward, and volatility characteristics. Derivative Classes There are three major classes of derivatives: Futures/Forwards Contracts to buy or sell an asset on or before a future date at todays price. While a future contract is a standardised contract written by a clearing house that operates an exchange where the contract can be bought and sold, a forward contract is a non-standardised contract written by the parties themselves. Options Contracts that give the owner the right, but not the obligation, to buy (in the case of a call option) or sell (in the case of a put option) an asset. The price at which the sale takes place is known as the strike price, and is specified at the time the parties enter into the option, normally for Europe the maturity date. Swaps Contracts to exchange cash on or before a specified future date based on the underlying value of the asset. More complex derivatives can be created by combining the elements of these basic types. For example, the holder of a swaption has the right, but not the obligati on, to enter into a swap on or before a specified future date. The underlying asset can vary amongst the following: Interest rate derivatives Foreign exchange derivatives Credit derivatives Equity derivatives Commodity derivatives Uses of Derivative Instruments Derivatives are used to: Cause a large difference in the value of the derivative when a small movement occur in the value of the underlying asset. This is done because derivatives provide to investors leverage and gearing. Make a profit if the value of the underlying asset moves the way the investor expected it would. This is done through speculative instruments. Hedge or mitigate risk in the underlying, and this is done by entering into a derivative contract whose value moves in the opposite direction to their underlying position and cancels part or all of it out. Obtain exposure to the underlying asset where it is not possible to trade in the underlying asset itself (example weather derivatives) Create optionality where the value of the derivative is linked to a specific condition or event (example the underlying reaching a specific price level) From the cases relating to fraud being analysed under question, it was noted that the derivatives mostly used were tho se relating to hedge risks and those used for speculation. For this reason, more information is listed hereunder on the two. Hedging is a technique that attempts to reduce risk. With this regard, derivatives can be considered a form of insurance. Derivatives allow risk about the price of the underlying asset to be transferred from one party to another. For example, a grape farmer and a wine maker could sign a futures contract to exchange a specified amount of cash for a specified amount of grapes in the future. Both parties have reduced a future risk: for the grape farmer, the uncertainty of the price, and for the wine maker, the availability of grapes. However, there is still the risk that no grapes will be available because of events unspecified by the contract, like the weather, or that one party will renege on the contract. From another perspective, the farmer reduces the risk that the price of grapes will fall below the price specified in the contract and acquires the ris k that the price of grapes will rise above the price specified in the contract (thereby losing additional income that he could have earned). The wine maker, on the other hand, acquires the risk that the price of grapes will fall below the price specified in the contract (thereby paying more in the future than he otherwise would) and reduces the risk that the price of grapes will rise above the price specified in the contract. With regards to speculation, derivatives can be used to acquire risk, rather than to insure or hedge against risk. Thus, some individuals and institutions will enter into a derivative contract to speculate on the value of the underlying asset, betting that the party seeking insurance will be wrong about the future value of the underlying asset. Speculators will want to be able to buy an asset in the future at a low price according to a derivative contract when the future market price is high, or to sell an asset in the future at a high price according to a d erivative contract when the future market price is low. Individuals and institutions may also look for arbitrage opportunities, as when the current buying price of an asset falls below the price specified in a futures contract to sell the asset. Criticisms on Derivatives Large Possible Losses The use of leverage or borrowing can result in large losses when using derivatives. This is because investors would be earning large returns from small movements in the underlying assets price. On the other hand the opposite may be the result if the price of the underlying assets moves against them significantly, causing the investors to lose large amounts. Counter-Party Risk Derivatives, especially swaps, expose investors to counter-party risk. A person wanting a fixed interest rate loan for his business, but finding that banks only offer variable rates may choose to swap payments with another business who wants a variable rate. However, if the second business goes bankrupt or if interest rates increase, the businesses will be adversely affected with possible causes of bankruptcy. Unsuitably high risk for small/inexperienced investors Derivatives pose unsuitably high amounts of risk for small or inexperienced investors. They are also attractive to individual investors because they offer possible high rewards. Speculating in derivatives require the investor to show adequate experience and market knowledge because of the dealings being made with high risks. Large estimated value There is the danger that the use of derivatives could result in losses which the investor wouldnt be able to compensate for because of the large values being estimated. When already in an economic crisis, the possibility of chain reactions increases. A famous investor, Warren Buffett  [1]  referred to derivatives as financial weapons of mass destruction. Distortions being created in the real capital and equity markets when using derivatives might lead to false decisions being taken. Benefits of Derivatives Derivatives facilitate the buying and selling of risk; and many people consider this to have a positive impact on the economic system. However, although when using derivatives someone loses money while someone else gains money, under normal circumstances, trading in derivatives should not adversely affect the economic system. Conclusion It was noted that a major factor leading to the growth of derivatives trading in currencies was the collapse of the Breton Woods agreement in 1971 and the resulting shift from a fixed to a floating exchange rate regime. There were those who argued that when derivatives are employed correctly, derivatives can be used to reduce risk, not increase it. As such, one can conclude that derivatives are only as dangerous as the hands they are placed in.

The Genocide Of The Ottoman Empire Essay - 1493 Words

The term â€Å"genocide† refers to the systematic killing of a group of people because of factors that may include race or religion. The Ottoman Empire is to blame for the Armenia Genocide which took place between 1915 and 1923 and resulted in the deaths of over 1.5 million. Years after, under Adolf Hitler, Germany was to blame for the Holocaust which resulted in the death of over 6 million Jews. Despite both genocides taking place in different countries and during different time periods, both genocides have similarly caused the deaths of millions of innocent people and the leaders of the Ottoman Empire as well as Germany used humiliation, torture and propaganda to systematically exterminate people. In 1914, the Ottoman Empire allied with Germany and the Austro-Hungarian Empire. In the same year, religious leaders declared a jihad, a holy war against all Christians. As a result of Armenians organizing to help the Russian army fight against the Ottoman Turks, military leaders declared Armenians as traitors. The government as a result, declared the Armenian people to be removed. Armenians have called the Caucasus region of Eurasia home for over 3,000 years. Armenia was the first country to have Christianity be the official religion of their country. The Kingdom of Armenia was engulfed into the Ottoman Empire, a vastly Islam practicing empire by the 15th century. As a result of Ottoman Rulers historically being Muslim as well as the majority of their subjects, Armenians wereShow MoreRelatedThe Armenian Genocide Committed By The Ottoman Empire1579 Words   |  7 PagesThe Armenian genocide committed by the Ottoman Empire against its minority Armenian population from 1915-1917 left an estimated 1.5 million dead and to date, not one individual has been tried for these egregious crimes. The mass killings of Armenians by the Ottoman Empire in World War I and Jews by the Nazis in World War II shocked the conscience of the international community and led to the creation of the Convention on the Prevention and Punishment of the Crime of Genocide (CPPCG), in order t oRead MoreThe Armenian Genocide And The Decline Of The Ottoman Empire1671 Words   |  7 PagesArmenian genocide derived from the decline of the Ottoman Empire towards the end of the 19th century, and was based on land dispute, religion, and ultra-nationalism. â€Å"One of the main factors that led to the Armenian genocide is to be found in the mental conditions and characteristics of Turkish National identity† (AkcÃŒ §am, 2004, 59). The Armenians have claimed their home in the southern Caucasus since 7th Century BCE. 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However, Turkey continues to firmly deny the fact that there was genocide, concedingRead MoreArmenian Genocide A Systematic Attack On The Armenian People Or A Means Of Sustaining The Ottoman Empire From Destruction1815 Words   |  8 PagesAn Analysis of the Armenian Question: Was the Armenian Genocide a systematic attack on the Armenian people or a means of sustaining the Ottoman Empire from Destruction? Commencing in April of 1915, the Ottoman government systematically initiated the slaughter of the empires Armenian civilian population. Often referred by historians as the first genocide to occur in the twentieth century, the Armenian Genocide refers to the persecution of the Armenian people, with estimates believing there to haveRead MoreThe Armenian Genocide835 Words   |  3 PagesThe Armenian Genocide The Armenian Genocide is the name given to the events of 1915-1923 in the Ottoman Empire, which was renamed Turkey after its founding father, Mustafa Ataturk. The Muslim majority destroyed the Armenians homes, churches, and livelihoods in a continuous murderous event that took its course over 8 years. An estimated 1 million to 1.5 million Armenians died in this Genocide, and other ethnicities died as well including Greeks and Azerbaijanis who happened to be living in ArmenianRead More The Armenian Genocide Essay906 Words   |  4 PagesThe Armenian Genocide, also known as the Armenian Holocaust, the Great Calamity, and the Armenian Massacre, was the organized killing of nearly 1.5 million Armenians. It occurred in the Ottoman Empire - present-day Turkey - where 2 million Armenians lived. The Armenian Genocide is the second-most studied massacre, after the Nazi Holocaust. Twenty-two countries have officially recognized it as genocide, but the Republic of Turkey rejects the charact erization of the events as genocide. Many ArmeniansRead MoreIt the Mass Murder in Armenia Genocide or Civil War?946 Words   |  4 PagesArmenia be considered a genocide or civil war? On the 24 April 1915, as the Ottoman Empire was being dismantled, a fiercely nationalistic Muslim political party known as the Young Turks began the process of exterminating approximately 1 500 000 Armenian Christians. The Young Turks aimed to create a state that was free from any Armenians and from Christians in particular. The genocide lasted 8 years, until 1923, during which time the Armenian Christian population in the Ottoman Empire was reduced from approximatelyRead MoreGenocides Have Been Going On For Many Years Whether People1127 Words   |  5 Pages Genocides have been going on for many years whether people may want to accept it or not even recognize an event as a genocide, Genocide is a deliberate killing of a large group of people, especially those of a particular ethnic group or nation. The term Genocide was created by polish attorney and writer Raphael Lemkin, by combining the Greek word â€Å"genos† which means race and the Latin word â€Å"cide† which m eans killing. Which as from now one can see that it’s that a massive killing of a specific race(s)Read Moreember World War II, and the effects it caused around the world, especially to the Jewish People.1500 Words   |  6 Pagesconcentration or work camps to be eventually killed off or worked till they are almost dead. People called it the holocaust, and it was the genocide of the Jewish. Genocide is one of the worst things in the world today, as it injured and killed many people. It is referred to having malicious intent of destroying or hurting a specific group. The word â€Å"Genocide† is derived from the Greek word â€Å"Geno-â€Å"which is Greek for race or tribe, while the Latin word â€Å"-Cide† means killing. This word was createdRead MoreThe Denial of The Armenian Genocide Essay1442 Words   |  6 PagesArmenian genocide and the use of the term â€Å"alleged† are insults to those who have agitated over the years in highlighting the geno cide and the Armenian people themselves. The pictorial anger and anguish of this painful traumatic experience had left the survivors of this horrific event with deep scars beyond repairs. The late nineteenth and early twentieth centuries were a dark world for the Armenians who were held helpless and bound at the treacherous hand of the Muslim Turks of the Ottoman Empire in

Childhood Childhood Trauma Results Essay - 2154 Words

Childhood Trauma Results in Criminal Comportment The childhood of an individual can be very crucial in the formation of the child’s character, personality, and future social behavior. The early experiences a child is exposed to may impact the child in a positively or negatively manner. Children exposed to traumatic childhood experiences such as emotional, physical, and sexual abuse; emotion and physical neglect; and household dysfunction such as incarcerated member of the household, domestic violence, and substance abuse; will result in criminal behavior in adolescence and/or adulthood. The Adverse Childhood Experience(ACE) score is a scale which was created to measure the amount of harsh conditions an individual has experienced throughout his or her childhood (Levenson Grady, 2016, p.95). â€Å"It has become a useful and well researched tool for measuring the accumulation of traumatic events related to child maltreatment and family dysfunction† (Levenson Grady, 2016, p.95). â€Å"Items in the ACE score include: emotional, physical, and sexual abuse; witnessing household violence; substance abuse; household mental illness; and having an incarcerated household member†¦physical and emotional neglect and parental separation/divorce† (Fox, Perez, Cass, Baglivio, Epps, 2015, p. 165). However, this paper will solely focus on the three types of abuse, both types of neglect, domestic violence, incarcerated member of household, and substance abuse. 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I want to know what symptoms are affected and what kind of childhood trauma could have possibly affected the symptoms of patients who haveRead MoreEgo Resilience As A Protective Factor1242 Words   |  5 PagesEgo-Resilience as a Protective Factor Between Childhood Trauma Psychopathology Jace Pincock University of Utah Introduction Clinical research reveals that psychological trauma during childhood increases the likelihood of developing psychological or functional disorders in adulthood. However, a significant percentages of adults with a history of trauma remain psychologically healthy. These individuals have been described as resilient. Resilience is the ability of human beings toRead MoreChildhood Trauma and the Impact of Adulthood1381 Words   |  6 Pagestheir childhood(s). Lenore C. Terr (January, 1999) states, Childhood trauma appears to be a critical etiological factor in the development of a number of serious disorders both in childhood and in adulthood. 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Human Embro Cloning Essay Example For Students

Human Embro Cloning Essay The specific objective of this major essay is to clarify and summarise the controversial debate concerning the ethical decency of embryonic cloning for therapeutic purposes. This is the form of cloning that is supposedly beneficial to a barrage of medical applications. We will identify the key opposing ethical perspectives such as those of the justification of embryonic research based on the normative theory of consequentialism. This paper will also probe into the relatively brief history of the debate while gauging the particular stumbling blocks of disagreement which bioethicists have arrived at. The topical aspects of therapeutic cloning will be closely studied by weighing the pros and cons and gaining a greater understanding of the present scenario. Formally speaking, embryonic cloning is a technique used by researchers and animal breeders to split a single embryo into two or more embryos that will all have the same genetic information. Some more extreme forms of Embryonic or Therapeutic cloning involve the deliberate creation of an identical twin to be destroyed before implantation in order to make replacement tissues. However, these identical twins are usually only six day old embryos, a minuscule collection of cells without a nervous system. Therapeutically, the notion of cloning is medically significant because cloned individuals at the embryonic stage share the same immune characteristics as each other (Harris 26). The possibility of cloning an individual at the embryo stage allows one clone to be used as a cell tissue and organ bank for the other. Embryonic cloning has a history of significant developments and discoveries that have occurred only in the past ten or twenty years. In the nineteen eighties and early nineteen nineties, sophisticated foetal and embryological research was banned by the United States Reagan and Bush administrations due to pressure from pro-life factions of the Republican party. However, these regulations against research into the controversial field were relaxed considerably with the inception of the more pro-choice Clinton administration. In October 1994, Robert J. Stillman shocked the world with the news of his successful cloning of seventeen flawed human embryos at George Washington Medical Center (Dyson Harris 276) in the United States. Events such as this have continued to spark furious debate over the past few years. In December 1998, Professor Lee Bo-Yeon of Korea created and killed the first human clone, much to the dismay of numerous pressure groups. In July this year, scientists of the United Kingdom began to publicly exploit a loophole in the Governments ruling of the rejection of spare-part cloning research. The loophole allows the researchers to continue with experiments by importing stem cells from cloned embryos which have been created and destroyed in another country. There is a rather surprising amount of medical benefits arising from therapeutic cloning research which have to be weighed before we assess where the debate is currently at. Doctors lay well founded expectations that by being able to study the multiple embryos developed through cloning, the causes of disastrous spontaneous abortions can be determined and much human loss can be averted. A greatly viable application lies in the field of clinical contraceptives. Leading contraceptive specialists perceive that if they can determine the manner in which an embryo knows where to implant itself, a contraceptive can be developed which will prevent embryos from implanting in the uterine wall. An additionally important branch of therapeutic cloning research is embryonic stem cell development. Stem cells are undifferentiated cells that can evolve into almost any type of cell (Lord 28) within the human body. These cells are not attacked by a persons immune system because of their rapid maturation and undifferentiated status. .u1755733abf804f115161d5b02b34aec2 , .u1755733abf804f115161d5b02b34aec2 .postImageUrl , .u1755733abf804f115161d5b02b34aec2 .centered-text-area { min-height: 80px; position: relative; } .u1755733abf804f115161d5b02b34aec2 , .u1755733abf804f115161d5b02b34aec2:hover , .u1755733abf804f115161d5b02b34aec2:visited , .u1755733abf804f115161d5b02b34aec2:active { border:0!important; } .u1755733abf804f115161d5b02b34aec2 .clearfix:after { content: ""; display: table; clear: both; } .u1755733abf804f115161d5b02b34aec2 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u1755733abf804f115161d5b02b34aec2:active , .u1755733abf804f115161d5b02b34aec2:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u1755733abf804f115161d5b02b34aec2 .centered-text-area { width: 100%; position: relative ; } .u1755733abf804f115161d5b02b34aec2 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u1755733abf804f115161d5b02b34aec2 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u1755733abf804f115161d5b02b34aec2 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u1755733abf804f115161d5b02b34aec2:hover .ctaButton { background-color: #34495E!important; } .u1755733abf804f115161d5b02b34aec2 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u1755733abf804f115161d5b02b34aec2 .u1755733abf804f115161d5b02b34aec2-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u1755733abf804f115161d5b02b34aec2:after { content: ""; display: block; clear: both; } READ: Flight 93 EssayMany doctors have reason to believe that these stem cells could be used to replace damaged cell tissue in adult humans with brain and nervous system damage. Because of the large amount of cells needed, human embryo cloning will aid the eventual implantation of those cells significantly. Cancer investigation is probably the most crucial reason for research into therapeutic cloning. Oncologists believe that embryonic study will advance the understanding of the rapid cell growth of cancer. Cancer cells develop at roughly the same extraordinary speed as embryonic cells. By studying the embryonic cell growth, scientists may be able to determine how to stop it and, in turn, also stop cancer growth. Genetic embryo screenings is a branch of cloning research which is already becoming increasingly effective and precise within hospitals in England. Parents who have a history of genetically inherited diseases such as cystic fibrosis can now use an embryo screening to determine if their child has received the faulty gene. The more medically questionable use of cloned embryos is for spare parts. By freezing cloned embryos, it is possible to later thaw and implant one into the uterine wall for the development of an identical child. This foetus would then be able to provide any organs or bone marrow transplants to save the life of the original child without the necessity of being carried to a nine months full term. This last application definitely begins to raise the question of what moral status an embryo should have, if any at all. The paramount controversy lies in the distinct disagreement as to whether we can classify human embryos as people; or more precisely human beings. One of the larger problems in this debate is an equal lack of knowledge on both sides. If one says the word embryo, people conceive an image of an extremely small baby. Heads, arms and eyes are usually imagined; this is completely incorrect. As mentioned previously, the embryo appears as a tiny bowl of cells when seen with the naked eye. The cells have not begun to change yet, there is no nervous system. On the other hand, after a development period of precisely fourteen days the formation of the nervous system, including the brain, is begun via the closure of the neural tube. This process is complete after the eighteenth day of development. The debate here lies within the question of whether embryonic cells, even before the fourteenth day, deserve the same moral standing as fully developed persons. As is the case with the abortion debate, we are trying to define where life begins by using different paradigms which clash rather violently; scientific versus religious, anthropocentric versus ecocentric and political versus the masses. Pressure groups against therapeutic cloning take insignificant events and sensationalise them in order to sway the argument. An array of people now maintain that cloning can inadvertently kill the clone; this originated from the incident that a cow cloned with DNA from an adult cell may have died because of errors in its DNAs genetic reprogramming. Small details and incidents within the therapeutic cloning lead to startling accusations and supposed factual estimates. There is a barrage of groups and sectors of the global community that constantly share their drastic ethical perspectives on the therapeutic cloning debate. The religious community vigorously opposes all human cloning procedures. The doctrines of such religions as Catholicism, Judaism and Buddhism firmly believe in the notion of the human soul. It is the inner spiritual self which is believed to be born from the very first second of conception. Mostly all religions believe that the act of murder is incorrect; not only destroying another human being, but his or her soul. Cloning research involves killing embryos which, to these religions, means the murder of a soul. To the religious community, cloning in itself is a violation of natural processes which should not be interfered with because they are made possible by a supreme being. .ua8b45ad342448e1cc9e45f8041e9203e , .ua8b45ad342448e1cc9e45f8041e9203e .postImageUrl , .ua8b45ad342448e1cc9e45f8041e9203e .centered-text-area { min-height: 80px; position: relative; } .ua8b45ad342448e1cc9e45f8041e9203e , .ua8b45ad342448e1cc9e45f8041e9203e:hover , .ua8b45ad342448e1cc9e45f8041e9203e:visited , .ua8b45ad342448e1cc9e45f8041e9203e:active { border:0!important; } .ua8b45ad342448e1cc9e45f8041e9203e .clearfix:after { content: ""; display: table; clear: both; } .ua8b45ad342448e1cc9e45f8041e9203e { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ua8b45ad342448e1cc9e45f8041e9203e:active , .ua8b45ad342448e1cc9e45f8041e9203e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ua8b45ad342448e1cc9e45f8041e9203e .centered-text-area { width: 100%; position: relative ; } .ua8b45ad342448e1cc9e45f8041e9203e .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ua8b45ad342448e1cc9e45f8041e9203e .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ua8b45ad342448e1cc9e45f8041e9203e .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ua8b45ad342448e1cc9e45f8041e9203e:hover .ctaButton { background-color: #34495E!important; } .ua8b45ad342448e1cc9e45f8041e9203e .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ua8b45ad342448e1cc9e45f8041e9203e .ua8b45ad342448e1cc9e45f8041e9203e-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ua8b45ad342448e1cc9e45f8041e9203e:after { content: ""; display: block; clear: both; } READ: THE CITY WHICH IS INSIDE YOU EssayThe scientific community is divided on the ethical implications of cloning research. One hundred bioethicists, scientists and legal scholars in America have signed a statement declaring therapeutic cloning as unethical and scientifically unnecessary (Nicholls 1). But many biologists believe that further embryonic research will be based on the normative theory of consequentialism. This theory allows for the actions of research to be taken in accordance with the desirable goal of human satisfaction, happiness or pleasure; the greatest good for the greatest number. (Preston 41). In conclusion, we can clearly see that significant steps must be taken to allow for the divergent communities of the world to reach common ground on the topic of embryonic cloning research. There are a few guidelines and regulations for cloning research which have been layed out by some governments but they are not sufficiently effective to stop the actions that, to many, seem unethical and even grotesque. Limitations which are put in place by governments can only apply to government funded experiments; currently there are no laws prohibiting any of the above procedures in privately funded research settings. At the present stage, the debate may continue and the controversies may prosper, but human embryo cloning will go on in any manner as long as no worldwide bans exist. Thoroughly continuing the review of both popular and academic literature may lead the developed nations to gain a proficient understanding of the realistic positive and negative possibilities of therapeutic cloning in the near future. This will, in time, generate the global legislations giving much needed ethical and humane boundaries to a field which is yet to be conquered.