Aig Scandal

[pic] THE INTERNAL CONTROLS AND FINANCIAL ACTIVITIES THAT LED TO THE BAILOUT OF OUR NATION’S LARGEST INSURANCE COMPANY By: Monte Schwartz PREFACE Anyone who sits in front of the TV has no doubt observed the American International Group (hereinafter AIG) business with the young man who strolls into his parent’s room while they are resting. At the point when his mom inquires as to whether he had a bad dream, he says â€Å"no† and that he’s stressed over his parent’s money related future. Following a twenty-second spiel about his concerns, the dad says, â€Å"Buddy, we’re with AIG† and he goes, â€Å"Oh! what's more, leaves the room and (expecting) back to his room. [1] AIG, set up as a Delaware company in 1921 by Maurice â€Å"Hank† Greenburg, is principally occupied with protection related and budgetary exercises in the United States and European nations (more than 130 joined aggregate); including however not constrained to home protection, vehicle protection, life coverage and different speculations. Envision that this young men parents’ find one day with their money related organizers that they lost the entirety of their speculations and protections where they paid dearly.The guardians had consented to make a venture so they and their youngsters could have a made sure about future insurance against advertise dangers. Indeed, it turned into a reality for some Americans. This overwhelming misfortune left numerous citizens with abused resources alongside a weight to pay the â€Å"bill† for the bailout of AIG. PART I: HOUSING MARKET SCANDAL: VIOLATIONS IN BUSINESS OPERATIONS To comprehend the bookkeeping embarrassment of AIG, one should initially comprehend its business exchanges and activities paving the way to the SEC examinations. In 1993, President Bill Clinton marked into law the OmnibusBudget Reconciliation Act, ordinarily known as the OBRA-93 or the Deficit Reduction Act. Part XIII, is o ur essential center, the Revenue Reconciliation Act which permits impediments on official remunerations by constraining the deductible for charge purposes to $1 Million except if the pay was earned through execution, rewards or value: at last expanding the normal administrators check. [2] When an executive’s check rate is principally a reward, those benefits can prompt choices that are not in the wellbeing, present moment and long haul, of citizens or shareholders.You may think what this Act has to do with AIG, yet this demonstration is the very embodiment of why AIG bombed as a business. AIG had paid its top administrators an incredible $165 million in rewards after it had gotten bailout reserves. In mid 1995, the Clinton Administration gave new and changed guidelines to the Community Reinvestment Act, or CRA (in which was made by the Jimmy Carter organization) which de-accentuate a loan specialist to make emotional appraisal quantifies for carefully numerical shares, or as others may state, racial standards. 3] In less difficult terms, private banks were constrained to give advances to low pay families and minority neighborhoods as long as the individual was making a type of pay to reimburse the advance and didn't require any inception of a credit check. In a greater number of ways than one, this was a Federal plan that compelled and coerced banks into advancing cash to individuals at high-chance. The new guidelines likewise trained loan specialists to consider how well they reacted to grievances from gatherings, for example, Minority Community Activist associations like ACORN.In December of that year, Henry Cisneros (herinafter Cisneros), at that point head of Department of Housing and Urban Development (hereinafter HUD), moved Fanny Mae and Freddie Mac towards a prerequisite that 42% of the home loans would now serve prevalently minority neighborhoods and low to direct pay families. In 2000, Andrew Cuomo (hereinafter Cuomo), Cisneros’ replace ment, built up a much progressively forceful social-designing objective by expanding the quantity of home loans to half by strategy for drastically climbing Fanny Mae’s and Freddie Mac’s commands to purchase home loans to under-serve neighborhoods for the low salary. 4] Cuomo additionally urged them to unequivocally enter the sub-prime advance markets, which are credit-default trade markets. What's more, who sold the credit-default trades? AIG did, in light of the fact that it was a protection on bonds. Enormous banks purchase securities and protection arrangements so that if an organization, state General Electric, ought to go into chapter 11, the huge bank is out on whatever superior sum it paid and gets cash from whoever sold the protection strategy, which for this situation was AIG since AIG was the greatest guarantor of credit-default trades. 5] Take for example, for instance, General Electric (GE)[6]. There are just two (2) reasons with respect to why a bank woul d buy credit-default trades. It is possible that they would prefer not to give the full acknowledge sum as it might be a hazard or they are hoping to shroud something, similar to a money exchange. Assume that Bank A needs to better its business relationship with GE thus GE requests $70 million using a loan. The bank, consequently, addresses their senior credit administrator that the greatest they can give is $50 million, because of hazard exposure.However, so as to fulfill the client, the bank loans the $70 million at any rate and discounts the $20 million contrast by buying a credit-default trade from Bank B. The main issue is, GE accepts the whole $70 million originated from Bank A. Presently, Bank B was â€Å"AIG Financial Products† (hereinafter AIGFP), a division of AIG. Bank A was Bank of America, Wells Fargo, JP Morgan Chase, and so on. PART II: THE ACCOUNTING SCANDAL: VIOLATIONS OF INTERNAL CONTROL There are four (4) most normal methods of misshaping a company’s budgetary condition.They are income acknowledgment, cost or cost acknowledgment, representing stores and bookkeeping identified with business blends. [7] AIG twisted their financials by means of representing holds. I'm not catching that's meaning however? In bookkeeping, organizations use stores to take care of future costs, for example, charges, conceivable suit and pay-off obligations or different liabilities. At the point when an organization purposefully adulterates data and misdirects reviewers of genuine monetary reports, these phony exchanges are otherwise called â€Å"sham transactions†.In 2001, the Securities Exchange Commission (in this after SEC) started exploring and making charges that AIG was giving speculators, investors and examiners with bogus fiscal summaries, indicating two hoax plans where the organization adjusted its asset reports through false exchanges in endeavors to disguise the company’s misfortunes on ventures identified with the credit def ault trades. By September of 2003, the SEC recorded a claim against an organization known as Brightpoint Inc. (hereinafter Brightpoint), in which is a discount wholesaler of electronics.Their charges included, however not restricted to, ill-advised utilization of protection arrangements in endeavoring to diminish a misfortune by 11. 9 Million in endeavors to show the open a littler misfortune. Accordingly, Brightpoint’s Financial Statements exaggerated their overall gain. The SEC discovered their net gain exaggerated by 61%. [8] It was uncovered later in the disclosure time frame that AIG was associated with helping Brightpoint to spread out their misfortunes over a timeframe. This strategy is known as â€Å"retroactive insurance† which consolidated two arrangements into one.The two approaches were the Retroactive Coverage and a Prospective Coverage. The â€Å"policy† should take care of the expense of misfortunes over a three-year term. The thought was to †Å"smooth† the fiscal report so people in general didn't see such an effect of misfortunes by AIG customers. Brightpoint paid a month to month premium for this arrangement of $15 Million. This strategy, while totally false, permitted Brightpoint to show an Insurance Receivable of $11. 9 Million. It couldn't be any more obvious, SEC v. Brightpoint (2003). Retroactive Coverage isn't insurance.It simply moved money starting with one spot then onto the next, which the SEC called a â€Å"round-outing of cash†. Brightpoint kept monies with AIG and later on, AIG would restore the assets; yet mark it off in their books as though they made an Insurance Claim Payment. There was no hazard being moved. When Auditors understood that this approach wasn’t a serious Insurance Policy, Brightpoint started making â€Å"restatements† to their fiscal summaries. Clearly there is misrepresentation when the books require various â€Å"restatements†. After the SEC had record ed their claim, AIG immediately settled on understandings to agree to $10 Million.This was just a common punishment. No criminal punishments were regulated by the Federal Courts for this â€Å"Retro-dynamic Policy†. This installment of $10 Million came about in AIG’s benefit a unimportant $100,000. It couldn't be any more obvious, SEC v. Brightpoint (2003). Brightpoint was not by any means the only organization got â€Å"assistance† from AIG around a similar time period. Another organization, known as PNC Financial Services Group Inc. (hereinafter PNC), was additionally included. To put it plainly, PNC was a Pennsylvania bank holding organization. AIG encouraged PNC to move $762 million of benefits off of the asset reports. 9] By now, it appears AIG was a â€Å"pro† at contorting accounting reports. They didn’t like low total compensations and they helped other people by sharing their strategies of â€Å"distortion†. The SEC calls these â₠¬Å"PAGIC† exchanges, since overall gains mysteriously show benefit. PNC had moved their resources for another substance which PNC held significant intrigue. They had made three (3) exchanges which were planned to lessen their misfortunes with respect to credits and funding ventures by â€Å"transferring†, as per the SEC rundown findings.PNC had then neglected to represent these exchanges as a benefit or an advance which neglected to show up on their asset reports. This decreased their introduction to â€Å"troubled credits and unstable assets†. (See SEC v. PNC Financial Services, Inc. ) These exchanges were clearly structure

Nature of Organizational Project Management MyAssignmenthelp.com

Question: Examine about the Nature of Organizational Project Management. Answer: Portfolio Reflection Achievement resembles as three-legged stool alludes to the learning technique of the understudies, at the primary stage the understudies should get prepared to learn new things, at that point they have to have self control of learning the authority aptitudes lastly they become the pioneers in the down to earth field. So as to build up a strong venture plan, the undertaking administrator must give the insights regarding the extent of the task, spending plan, asset and course of events of the task. If there should be an occurrence of the outer activities, the venture administrator must consider the productivity. The PM ought to guarantee that the venture will made adequate measure of benefits for all the partners. Its not about the age of an official to receive the venture the executives viewpoints, its about the initiative aptitudes, basic reasoning force and experience. If there should arise an occurrence of discovering wastefulness in the practical line, the venture administrator sh ould sift through it by talking with the colleagues appropriately. The task chiefs ought to adhere to the built up standard organization strategies. The undertaking support dont reserve the privilege to expel an in-house delegate from the organization. Venture the board starts to transform into over administration when the PM puts a need on overseeing as opposed to achieving the objectives set out for the task. The program supervisor is answerable for building up the arrangement of the task and conveying the undertaking and to the customer. References Drouin, N., Sankaran, S. what's more, Muller, R., 2016. The idea of hierarchical task the board and its job as an authoritative capability.Manageable Cooperation?. Heagney, J., 2016.Fundamentals of venture the executives. AMACOM Div American Mgmt Assn.

Enterlude

Enterlude “So, you gonna play?” I said, raising an eyebrow expectantly at Daniel M. ’14. It was ten at night, and in the East Campus courtyardâ€"littered with trees and illuminated by flashing, multicolored lightsâ€"the East Side party raged on. Tech-y house music thumped through the disgustingly humid air while students from all across campus displayed dance skills ranging from “decent” to “huh, that’s a little weird, but okay” and “is that even legal?” Crowds stared in awe at the towering EC rollercoaster, which stood terrifyingly untested (and, thus, unpopulated); little clusters of people gathered, respectively, around the giant Etch-a-Sketch, rotating wooden centrifuge ride, and car-sized pirate-shipâ€"which, as I later learned, was destined to wage intra-campus aqueous warfare. I’d ditched all the aforementioned features for the apple of my childhood-reliving eye, the glory of the East Side party: 3-D Twister. I stood before the short, white rock-climbing wall spray-painted with Twister dots, gesturing encouragingly at Daniel in the hopes of securing a game buddy. “Nah,” he said, shaking his head. “I’ll sit this one out. You have fun, though.” “Fine, fine,” I laughed, turning and flagging down the guy perched on top of the wall, who balled up a white t-shirt covered in even more Twister polka-dots and tossed it down to me. Tugging it on over my top, I grinned, bounded up the wall, found a foothold, and prepared to contort my way to victory. Welcome to REX. One of the first things you learn when you get to college is that there’s a pretty universal handful of questions that all freshmen ask each other when they first meet. Not to suggest that we’re not, in fact, fabulously creative people capable of dazzling, captivating, and generally worldly smalltalk over tea and crumpets (daintily eaten with raised pinkies, of course). Perish the thought! But we do need a baselineâ€"a bare minimum, a foundation we can build opinions and relationships on later, when the flash-bang chaos of REX and Orientation ends. So, to start, my name is Natanya K. ’14. Er, well, not really. My parents weren’t cruel enough to give me a name with numbers and symbols, v† la internet handles. But for the sake of tradition, year, and, I suppose, potential e-stalking, I’ll leave it as is. Natanya is pronounced Nuh-TAWN-Yuh (like “Tanya” with a “Na” in front! Or so I tell people so they don’t call me Natasha), and while I tend to prefer it over nicknames, I’ll occasionally go by Nate on the lacrosse field, or Tanya while around small children. I hail from sunny San Diego, and have thus never owned a pair of rainboats. I also neglected to bring an umbrella with me when I came out because oh it’s still summer there. I’ll be fine. HAH. WRONG. I didn’t see the sun for my first four days here because OH GOD POURING RAIN. But then it spiked into the high nineties with a bajillion percent humidity for a week. And then a hurricane hit! And now it’s fall. For the moment, anyway. Since I made my college choice partially because I wanted to go to a place with identifiable seasons instead of just multiple variations on summer, I suppose I shouldn’t complain. Build a weather machine, maybe, but save the complaints for another time. To briefly nutshell myself: I’m a veteran lacrosse player, and a rookie rugby player; I’m horrible at the arts, with the (possible) exception of creative writing, but I love music something fierce, and harbor a doomed desire to become skilled in the art of hip-hop dancing; math is my absolute worst subject; I frivolously dream of heading down to South Africa to see the great white sharks; I’m a connoisseur of bad reality television, a poker aficionado, a Jew, a Chargers fan, and, as of May 3rd, 2010, a student of the Massachusetts Institute of Technology. If you’d asked me even a year ago where I thought I’d be now, MIT would be the last place I would have saidâ€"if I’d even thought to say it. I’ve gone from knowing exactly what I want to do here to being thoroughly undecided, and I don’t have the faintest clue how I’m going to keep up with everything on my plateâ€"but, for the life of me, I can’t imagine anywhere else I’d rather be. With regards to the reasons I’m here, I’ll just say, for now, that they’re many, varied, and occasionally kismet-tastic. I’ll be writing more about those later, but the gist of it? I’m a starry-eyed frosh who thinks that MIT is the best place in the universe. As for whether that’ll last, who knows? Maybe, come four years from now, MIT will have knocked those stars clean out of my sockets. Possibly with a firehose. But somehow, I doubt it. Post Tagged #East Campus #REX

Online Selection of Printable Graph Paper

Do you need to print some graph paper? This is a selection of different types of graph paper in pdf format that you can save and print as needed. To print the graph paper, do a print preview to make certain the page will appear the way you want it. Standard Printable Graph Paper - 5 x 5 graph paper grid, 10 lines per inch Printable Graph Paper with X-Y Axis - 5 x 5 grid graph paper, centered X-Y axis, 10 lines per inch Printable Graph Paper with 5 Lines per Inch - 5 x 5 grid graph paper, 5 lines per inch Printable Graph Paper #4 - 5 x 5 grid, centered X-Y axis, 5 lines per inch Printable Graph Paper #5 - 4 x 4 grid, 8 lines per inch Printable Graph Paper #6 - 4 x 4 grid, centered X-Y axis, 8 lines per inch Printable Graph Paper #7 - 8 lines per inch (no grid) plain graph paper Printable Graph Paper #8 - 8 lines per inch, centered X-Y axis Printable Graph Paper #9 - 10 lines per inch Printable Graph Paper #10 - 10 lines per inch, centered X-Y axis Printable Graph Paper #11 - 5 lines per inch Printable Graph Paper #12 - 5 lines per inch, centered X-Y axis

Can Punitive Measures Curtail Crime Essay - 841 Words

Crime remains the most pressing problems of all times presenting the biggest challenge to the development of any nation. Apart from the effect of fear of crime and violence of victims, it also has a devastating impact on the society. It is extremely important that all efforts should be made to reduce the level of crime in a society. But the question of concern is what measures can be taken to reduce the level of crime? What types of controls should be used so that the crime rate reduces to an optimal level? This paper will analyze the importance of punitivity in social welfare and as crime control policy. It is essential to understand the concept of punitivty as it is the attitude towards punishment. For example people in U.K. and U.S have†¦show more content†¦To ensure that people abide by these laws, the state again imposes certain regulations. These special regulations are called punishment,. The basic idea of punishment is to protect people and punish those who do not ab ide by the laws. Punishment is a form of social control which his intended to act as a deterrent for people who perform unlawful actions. The effectiveness of punishment depends upon the attitude of people towards punishment. Simply it means whether people are actually afraid of a certain punishment or not. For example the punishment of a murder is death sentence. But the concern is whether this punishment is sufficient to act as a deterrent against murders. The fear of punishment is what is known as punitive attitude. If people have fear of punishment, there is high probability that they will not kill a person. On the other hand, if the punishment is not very harsh for example, a murderer is only imprisoned for two years, then the fear of punishment is likely to be low and the crime arte will be higher in the society. The idea of social control is highly integrated with social welfare. In simple terms, social welfare is intended to promote the well being of individuals living in a society. For example, if the government is providing a certain health facility, the idea is to promote the well being of the people living in that society. The idea of social control such as punishment also intends to protect the people from others. All forms of socialShow MoreRelatedThe Approach of the Drug Policy Research Centre in Uganda1637 Words   |  7 Pagesdrug cases reported and investigated in 2011 were 1,563 compared to 871 cases in 2010 reflecting a 79% increase (Uganda Police, 2011).The increase in use of khat and cannabis has been attributed to underemployment, family disruptions, high rates of crime and affordability (UYDEL, 2009). A new report indicates that the economic cost of loss of productivity from drug-related incarcerations is considerably higher than the cost associated with drug use. In light of this, the prime minister is weighingRead MoreFailure Is A Compromising And Alarming Idea. When Thinking1575 Words   |  7 Pages When thinking about the drug control policy of the past half-century, failure is the only conclusion that one can come to. A dated history of combatting drug abuse with punitive measures has not led to the annihilation of illicit drug use. It has not created safer societies. It has led to the stigmatization and isolation of a substantial proportion of society and stimulated drug crimes. Now it is time to look back and address the negative consequences of past drug control strategies. It is timeRead MoreDream Act Of Texas : The Lone Star State2812 Words   |  12 Pagespopulous state, located in the South Central part of the Unites States. According to the 2010 U.S census, Texas h as a population of 25.1 million inhabitants. Hence, there has been an increase of 4.3 million people since the year 2000 to 2010. This can be traced down to higher maternity rate over the rate of mortality, net immigration and immigration as well as a relatively conducive cost of accommodation. Texas population growth between the year 2000 to 2010 is the greatest growth in the populationRead MoreUnderground Economy4900 Words   |  20 Pagesand becomes progressively larger in those areas where corruption, regulation, or legal monopolies restrict legitimate economic activity. The black or underground economy is the economic activity which is not measured by government statistics. This can include a range of different economic activities not measurable by the government, such as: smuggling alcohol, tobacco and fuel,weaponry prostitution, copyrighted media,illegal drugs. It includes: ââ€" ª Selling goods illegally e.g. criminal goods; Read MoreThesis About â€Å"the Effects of Curfew Hours Among Teenagers†6647 Words   |  27 Pagespractices in the United States, todays curfews also have historical origins. The word  and enactment of curfews for minors in almost 3000 cities in the United States by 1900. It was not until  World War II  that they became a popular way to battle juvenile crime (Lester, as cited in ONeil, 2002). By 1995, 77% of cities with populations greater than 200,000 had some form of juvenile curfew, 60% of which were either enacted or enhanced after 1990.The word curfew   comes from the French term,  courvrefeu, meaningRead MoreBusiness and Small Scale Industries9686 Words   |  39 Pagesentrepreneurship in Nigeria. Introduction A business whether small or big, simple or complex, private or public, etc is created to provide competitive prices. Business in Nigeria has been classified as small, medium and large. However, a small scale industry can be defined by the criteria of project costs, capital, cost turnover by the employee, etc. The federal and state ministries of Industry and Commerce have adopted the criterion of value of installed fixed capital to determine what a small scale industryRead MoreThe Marijuana Growers Guide9909 Words   |  40 Pagesin double brackets (()). Numbers throughout refer to bibliography and are sometimes in brackets, sometimes they aren t. All dates are for northern hemisphere only. Comments on pictures are in curly brackets {}. Please distribute this widely so we can all smoke better marijuana. Legalise marijuana. 4 October 1996 Copying this book was a megamission that took about 3 weeks in the September of 1993. Everything in the book has been copied - even the bibliography. The online version of this guide isRead MoreEssay Paper84499 Words   |  338 PagesF apply to Army National Guard Soldiers when on AD Title 10, for 30 days or more, and in all other cases, Army National Guard Soldiers are governed by NGR 600–21 and NGR 600–22. Portions of this regulation that prescribe specific conduct are punitive, and violations of these provisions may subject offenders to nonjudicial or judicial action under the Uniform Code of Military Justice. The equal opportunity terms found in the glossary are applicable only to uniformed personnel. AR 690–600 Read MoreLibrary Management204752 Words   |  820 PagesPhysical Stress . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 276 Job-Related Mental Stress . . . . . . . . . . . . . . . . . . . . . . 276 Burnout . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 279 Violence and Crime in the Workplace . . . . . . . . . . . . . 280 External Impacts on Human Resources—Legal Protections . . . . . . . . . . . . . . . . . . . 282 Equal Employment Opportunities . . . . . . . . . . . . . . . . 283 The Civil Rights Act of 1964 and OtherRead MoreHuman Resources Management150900 Words   |  604 Pagesestablished measures, and discuss problems and issues. Employee turnover is also extremely low in most areas. Transitions in HR management are also paying off in the Bank of Montreal, based in Montreal, Quebec. Emphasizing human resources has involved 35,000 employees in organizational success. This recognition me ant focusing greater attention on the talents of diverse employees working at the bank. Specific efforts were made to expand opportunities for performance targets and measures on such factors

Essay for Free Free Essays

Our paper writing service is exactly what you are looking for: quality academic papers starting from essays and term papers up to dissertations and theses; reasonable prices and discount programs; highly-qualified writers with years of experience and ability to help you 24/7. (View Free Essay sample) Providing students with high quality essays, research papers, term papers and other academic papers that are required during studies, our purpose is to make your academic life easier, saving your valuable time and efforts. Experienced writers working with us are ready to assist you with paper writing any time you face difficulties with paper writing. We will write a custom essay sample on Essay for Free or any similar topic only for you Order Now When you realize that essay writing is too difficult for you or the deadline is approaching, you should only ask our talented writers to help you. There is no need to worry about essays and research papers if you trust them with our reliable essay writing service. Order now We strive to satisfy all your academic needs and meet the strictest academic requirements. Understanding how difficult it is for students to create an essay, research paper, term paper and other types of academic papers on their own, our professional writers have found a way to help students. We do not only offer you to order papers from our essay writing service, but we provide you with free essays written by experienced writers from EssayOnTime. com. These essays are not templates although we hope they will be useful for you in case you decide to create an essay yourself. However, if you feel that essay writing is not your forte, feel free to place an order with our professional essay writing service. We assure you of top quality essay writing that will exceed your expectations. Taking personal approach in completing each order, our writers follow all your instructions and specifications. We guarantee your 100% satisfaction with each essay, research paper, term paper or any other paper purchased with EssayOnTime. com. Ordering papers with our professional paper writing service, you can stay assured of getting your paper well-written and delivered on-time. Even if you have to hand in your essay or term paper the day after ordering a paper with Essayontime. com, you are guaranteed to get it written to all your instructions and download before the deadline. Please, check free essays completed by our highly-educated writers to make sure you rely on professionals when you choose EssayOnTime. com. How to cite Essay for Free, Essays

Political Development Of Texas Government My Assignment Help

Question: Describe constitutional history to explain the political development of Texas Government? Answer: Assessing the constitutional history to explain the political development of Texas Government. Year and Document Title of Texas (State, Republic, nation etc.) Purpose of the document Political Issues, Tensions, Debates and Causes Key changes and impact on organization, structure and power of Texas Government and consequences 1824 Federal Constitution Of United Mexican States Texas was a state. Change of structure of government and proper uniformity across Texas. Catholic was now made the main religion, the faith of the state and everybody followed it. Constitutional Government came into picture in Texas after 1824 Federal Constitution Of United Mexican States. But numerous limitations on the power of the President. Supreme court had to function with 11 judges and attorney under separate executive, legislative, and judicial functions. 1829 Constitution Of The State Of Coahuila Y Tejas Texas was a state given these two states- Coahuila and Texas- power to make separate constitutions. The administration replied with Decree Number 70 in 1829 excusing from creditor claims all lands expected from the Spanish independent along with other movable property. The constitution separated the state into three departments as the District of Bexar was also there. This decree was also taken back in 1831. Declaration Of Independence 1836 Independent state- no ties with Mexico. Deceleration of independence being the purpose. 183 defenders were killed. This included many Mexicans who had fought for the independence of Texas. But all the oil-soaked bodies of these men were set on fire outside the Alamo. They became an independent state with no ties with other states under Mexico. Constitution Of Republic Of Texas 1836 Republic of Texas. Purpose- their own constitution. The threat of attack by Mexican mounted troops inclined to throttle the originality in the document. The first Anglo-American constitution to govern Texas. The great numbers of limitations and restrictions which were often found in state constitutions of the time were evaded. Constitution Of Republic Of Texas 1845 Became a state under United Sates. The capture of Texas to the United States became a topic of political debate. Moreover after the Louisiana Purchase in 1803. All of this became a matter of international concern when Texas was a republic (Between 1836 and 1845) The legislative department was now composed of a Senate. And from nineteen to thirty-three members with a House of Representatives of from forty-five to ninety. All bills have to be issued in this house only. The judiciary had supreme courts, judicial courts and other small courts. Constitution Of Republic Of Texas 1861 Texas being a full part of U.S.A. The words United States of America were substituted with Confederate States of America. Slaveryrights were more directly defended. A clause providing for freedom of slaves was eliminated, and declared illegal. This constitution did not legalize the recommencement of the African slave trade. Constitution Of Republic Of Texas 1866 Texas reentered the union. Only white men could serve in the legislature. Acceptance of abolition of slavery. Governors term was increased to 4 years and they were not allowed to serve more than 8 years in a 12-year period. Salaries also got increased. Constitution Of Republic Of Texas 1869 State under United States Radical Reconstruction period Civil war started with so many injuries to family and friends and it was the blame on south which was evident. Constitution Of Republic Of Texas 1876 State under United States Education policies led to rising costs and thus high property taxes. Power- centralized in the state government References Hans Peter Nielsen Gammel, comp. 1898. Laws of Texas, 18221897.Austin: Gammel Henderson K. Yoakum. 1855. History of Texas from Its First Settlement in 1685 to Its Annexation to the United States in 1846 (2 vols., New York: Redfield,). Benson, Nettie Lee. 1987. Texas as Viewed from Mexico. 18201834.. Southwestern Historical Quarterly The Constitution of Mexico, and of the State of Coahuila and Texas. 1832. New York: Ludwig and Tolefree.