Introduction
Burglary is the unlawful intuition into any structure with the intention of committing a crime. The entry must not be forceful through physical breaking; the offender may also trespass through an open entry passage. For a crime to be rendered as burglary, there are three elements that must be considered:
There is a different classification of burglaries based on the skills and age of the burglars. These include Professionals, known burglars, young burglars, juveniles. In the united states, there exists a difference in federal and state laws. This paper will look at the two sides of burglary based on the state of new jersey and the common definition, comparing them in detail.
Comparison of State and Common Law Definition of Burglary
Under the New Jersey state laws, NJ 2C:18-2, burglary is entering a structure without permission to commit theft or crime. It also involves the staying of the offender within the facility without authorization. This is when the offender trespasses against a conspicuous notice that prohibits trespass or entry. The state law categorizes burglary as equivalent to a felony. It is charged as a 3rd-degree indictable crime. A burglary conviction leads to up to 3-5 years imprisonment and a fine of not less than $15,000.
On the other hand, for common laws, the crime has to occur in another person’s dwelling house, and the time is at night. It involves housebreaking; it is exclusively for buildings, unlike the state laws, which include any structure. Under the common law, there must be a constructive or an actual entry in the dwelling. The charges under this law will imprison an offender for four months to a maximum of four years (Mazeika & Summerton, 2017)
Similarities of State and Common Definition of Burglary
Both the laws have charges when one is convicted of burglary. Despite the differences in focus areas between the two laws, in any case of burglary, there are charges that must be imposed on the offender. Another similarity that exists between the two laws is that in both the definitions the unlawful entering into the building or structure whether the person dwells there or not (Anderson, 2011).
Should the Dodd-Frank Wall Street Reform and Consumer Protection Act be repealed?
Dodd-Frank Act is legislation on financial reform that was passed into effect in the year 2010. It was created to help in response to the 2008 financial crisis. It involves a number of governmental agencies that act as overseers in its various components and aspects of the financial system. It focuses on the agencies that are believed led to the 2008 crisis, such as the banks, credit rating agencies, and mortgage lenders.
Why the Dodd-Frank Act should not be repealed
The Dodd-Frank Act has very many positive implications that will help both the economy and the individuals based on financial issues as well as curb the possibility of another financial crisis. According to Wallison (2011), the following reasons should allow the Act to survive.
-It ensures taxpayers bailouts
-It also ensures that the banks are prohibited from trading on their own accounts using deposited funds by the clients.
-Keeps an eye on the ratings on credit by the responsible agencies
-Ensures consumer protection. This is done by informing the consumers to understand risky mortgage loans and mandating the banks to undertake verifications in borrowers’ income, job status, and credit history.
-It brought about increased supervision of insurance companies and identified the risk creating burglary and the common law
-Possibility of reviewing future emergency loans helps in proper strategy hence comparing past, present, and the predictability of the future gives the nation some financial security.
Why the Dodd-Frank Act should be repealed
Despite the overwhelming merits of the Dodd-Frank Act, the other side of the coin can also be considered to abrogate it. The following reasons are points by which I can argue my points based on the possibility of repealing the Act. These include: –
It is an overreaction to the crisis of the year 2008. The tight regulations result in the withdrawal of the investors to the sidelines. Although it guards the possibility of repeating the financial crisis of 2008, the regulations are stricter that many investors are not able to acquire loans and thus leads to the decline in economic growth as a result of putting off many investors out of business (Coffee, 2011).
It burdens the financial institutions with a lot of cumbersome rules and is a seeming hindrance to the overall economic growth. The long procedures that the financial institutions must follow, makes it a prime hindrance to the economy.
A lot of borrowing restrictions results in the recession of many businesses. Since the enactment of the Act in 2010, small business owners find it hard to get loans and mortgages; this leads to fewer operating firms, thereby high rates of unemployment (Dancer, & Powell, 2018).
Conclusion
In conclusion, there are more advantages than disadvantages of the Dodd-Frank Act to the economy, and thus, there is no need to repeal the act based on my own opinion and the facts from scholarly sources.
References
Anderson, H. A. (2011). From the thief in the night to the guest who stayed too long:
The evolution of burglary in the shadow of the common law. Ind. L. Rev., 45,
629.
Coffee Jr, J. C. (2011). Political economy of Dodd-Frank: Why financial reform tends
to be frustrated and systemic risk perpetuated. Cornell L. Rev., 97, 1019.
Dancer, W. T., & Powell, D. (2018). Dodd-Frank repeal: Assessing the change in the
day-to-day activities of financial institutions. Journal of Accounting
and Finance, 18(7), 50-55.
Mazeika, D., & Summerton, D. (2017). The impact of geocoding method on the
positional accuracy of residential burglaries reported to police. Policing:
An International Journal of Police Strategies & Management.
Wallison, P. J. (2011). Will (Should) Dodd-Frank Survive?. Networks Financial Institute
Policy Brief.
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