...“Inside Job” Movie review -Deepshikha Dubey SYBCOM (Hons) Roll number-1071 ‘I nside job’ true to its title, is an exasperating documentary about the actual causes and consequences of the financial crisis of 2008. Directed by Charles Ferguson and narrated by Matt Damon, the movie is not a piece of muckraking or breathless support. It rests its infuriation on proper reason, research, figures and careful argument. Several interviews of eminent personalities from political, financial and academic backgrounds, along with news clips and aerial shots of New York, Iceland, London and other disaster areas — are all in there! Though dealing with a very complex issue, the movie has beautifully dealt with the topic and made it much easier for common man to understand the reason behind the nerve wrecking recent financial crisis that hit USA and then the world’s economy. The film is divided into five main parts, covering a wide scope- Who, what, when, why, how… it is all answered! Unlike most other documentaries that have been released over the past several years, ‘inside job’ bases its arguments on numbers and facts and doesn't just emotions. The first part of the movie- “How we got here?” Takes the viewers back to history in the 1930s when US had a strong financial system. The regular banks were local businesses and were not allowed to mess around with the depositor’s money. The investment banks were private partnerships and thus did not make risky investments...
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...! ! ! Ziyao “Ryan” Li FWIS 194, Final Paper Dr. Ben Wright The End Of The World As I See It When I started to form tiny fractions of memories, China’s booming economy, its open-door policy, and big social reforms began taking places as it leaped into the 2000 millennial. All these changes lead to a more vivid and intermixing culture where novel lifestyle, alternative thoughts, and "non-traditional" religions like Christianity can thrive. I was lucky to be standing at the crossroad where China started to embrace different cultures and various religions. Thanks to the opened-up culture atmosphere, I was exposed to the clash of cultures between western ideology and traditional Confucianism thoughts. The word “apocalypse” was not even in my dictionary previously until Hollywood introduced it to me in the most dramatic ways I could possibly imagine, and ever since my speculation of the Apocalypse never stopped evolving. From more unrealistic predictions involving in zombies, Godzilla, and DNA-modified prehistoric killer dinosaurs, to more practical speculations like nuclear war and ozone depletion, I was constantly updating my Apocalypse view. With my increasing understanding of the mechanism of how the world functions as a whole, I realized that a global hot war is imminently possible since politics can exert a strong influence on the global situation. In a sense, the transformation China experienced was a direct result from the power of politics. In this essay, I will establish...
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...Often these places have some historical and cultural significance to them. For example the New York City hotel room in which L. Ron Hubbard wrote Dianetics and more recently the control room of the Fukushima power plant, the same power plant that had a meltdown during the tsunami on March 11, 2011. These models are constructed mostly of cardboard and construction paper. They are then photographed with a large format camera. The models are then destroyed and his audience is presented with a photographic image. The use of colored construction paper and cardboard leads the scenes to have certain level of flatness yet dimension that renders the work as off putting yet inviting. Demand is stripping this loaded place of all its signifiers and in turn making the audience question what happens to all of these places once we forget about the events that have occurred there. Does the structure carry any of the weight from the events that have occurred there or like in Demand’s models is all of that weight stripped away to make way for the...
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... This consent for free limited copying without prior consent of the Society does not extend to making copies for general distribution, for advertising or promotional purposes, for inclusion in new collective works or for resale. Abstract Enterprise risk management (ERM) increases shareholder value. In this study we test whether ERM influences insurers’ stock market performance. The results indicate that insurers’ stock market performance is linked to the characteristic of industry events and specific firm characteristics rather than to the success of ERM. In this study the 2007–2008 subprime mortgage and financial market crisis was found unique compared to other industry events. The study recommends further research on the methodology of determining the value of ERM from the joint perspective of finance theories and management theories. 2 Introduction Risk management is the primary function of insurance companies. In the traditional business model, insurance companies underwrite insurable risks and manage such risks through pooling with reinsurers, insurers and other risk carriers. The...
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...CAPITAL MARKET AND MANUFACTURING SECTOR FINANCING IN NIGERIA Ewa, Efa Okoi Department of Business Management University of Calabar, Nigeria +234-8037-796-936 efa_ewa@yahoo.com Abstract This paper discusses mainly the role of the capital market in financing the manufacturing sector in Nigeria. The discussion centered on the state of the Nigerian manufacturers, background, challenges and the imperatives of the capital market meeting the financial and investment challenges of the sector in the face of recent economic reforms and increasing competition posed by globalization. The study sought to determine the extent to which the Nigerian capital market contributes to the development of manufacturing industries. An attempt was made to highlight government intervention in funding the sector and the reality of the country’s manufacturing sector. The study revealed that the Nigerian manufacturing sector has been on the decline owing mainly to government reliance on the oil industry, the decaying infrastructural facilities in the country and non-access to investment fund by local manufacturers. The study concluded that the capital market, despite the problems and challenges it may faced, is a veritable tool in the growth and development drive of the country’s manufacturing sector. 1. Introduction The manufacturing sectors in any country of world rely on medium and long-term fund to carry out its productive activities. Equity capital alone is never adequate and external...
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...and Fall EMSE 6005.10 – Organizational Behavior For The Engineering Managers Professor Andy Sakka Abhishek Thakur Akshat Amrut Oswal Nokia history: Nokia was founded by Fredrik Idestam, a mining engineer in 1865. The name Nokia was decided in 1871 when he opened his second paper mill on the bank of Nokianvirta river. Nokia started out with making paper which incidentally was one of the very first technologies used for communications. Fredrik Idestam was the chairman of the company till 1896 when he retired, and Leo Mechelin took over as the chairman. Under Mechelin, Nokia started a new business unit of electricity generation. In 1898, Eduard Polon founded the Finnish Rubber Works, which later became Nokia’s rubber business. They were making everything from galoshes to tires. In 1912, Finnish Cable Works was established by Arvid Wickstrom, which later became Nokia’s cable and electronic business. In 1967, all three of these jointly owned companies came together to form the Nokia corporation. Nokia’s first thrust in telecommunications came when they began developing radio telephones for the army and emergency services. During this period, the company was involved in many businesses including paper products, tire manufacturing, footwears, communication cables, televisions , electricity generation machinery, robotics , chemicals, plastics and many more. By 1987,, Nokia became one of the leading manufacturers of TV in Europe. By 1990, Nokia decided to concentrate its efforts...
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...Dissertation on the Real Estate Sector of Mumbai and the Indian Middle Class Abstract The global financial meltdown had hit the real estate sector all around the globe, and Mumbai real estate sector is one such amongst them. The specific segment is plagued by reduction of demands, lowering of prices, inventory accumulation etc. In order to maintain their sustenance, they now want to target the middle class segment of the society. The entire purpose of this dissertation was to identify in the present economic conditions of the country, the target customer for such real estate sector. In order to conduct the research, a mixed research methodology is adopted deploying both qualitative research as well as quantitative research. Relevant research instruments were chosen, and 10 respondents were interviewed for the qualitative research and 300 individuals were undertaken in the quantitative research methodology. It was found that indeed the middle class with their high aspiration levels, and disposable income were the ideal target for real estate. However, in order to further attract the target customers, a host of suggestions are made. This dissertation is created through thorough referencing from academic journals, books, reports, newspaper articles etc. This paper would also be immensely helpful for students aiming to understand a clear picture of the real estate sector of Mumbai on ways to maintain its growth. Table of Contents Abstract 2 Introduction 5 Background...
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...Dow Jones Industrial Average set a record by closing at 14,047. One year later, the Dow was just above 8,000, after dropping 21% in the first nine days of October 2008. Major stock markets in other countries had plunged alongside the Dow. Credit markets were nearing paralysis. Companies began to lay off workers in droves and were forced to put off capital investments. Individual consumers were being denied loans for mortgages and college tuition. After the nine-day U.S. stock market plunge, the head of the International Monetary Fund (IMF) had some sobering words: “Intensifying solvency concerns about a number of the largest U.S.-based and European financial institutions have pushed the global financial system to the brink of systemic meltdown.” It has been maintained that huge economy inequalities coupled with low rate of profit in the US economy contributed to an increased capital flow to the financial sector and the increasing provision of credit to US workers whose real incomes had declined. Under auspices of financial innovations, debt was sold in complex new financial products to investors. Cheap and apparently riskless lending drove the rising leverage of investments. ‘Securitization’ helped to spread the risks to global financial markets and deficient government regulation facilitated these developments. A huge asset bubble developed in the US housing sector and burst as a result of high interest rate. Consequently, the world witnessed massive waves of defaults, institutional...
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...this research work to my late mother. You influenced every aspect of carrying out this study. It’s sad though that you are not around to witness who I have become. You may be gone but you are never over! 2 ACRONYMS ADB Asian Development Bank CSO Central Statistics Office DESA Department of Economic and Social Affairs Statistics Division ESAP Economic Structural Adjustment Programme FPL Food Poverty Line HDL Human Development Index MPSLSW Ministry of Public Service, Labour and Social Welfare NGO Non-Governmental Organizations PASS Poverty Assessment Study Survey PDL Poverty Datum Line PICES Poverty and Income Expenditures Survey PRD Parliament Research Department PRFT Poverty Reduction Forum Trust TCPL Total Consumption Poverty Line UNDP United Nations Development Programme UNICEF United Nations Children’s Fund UNESASD United Nations Economic and Social Affairs Statistic Department UN-Habitat United Nations Human Settlement Programme USA United States of America Zimstat Zimbabwe National Statistics Agency 3 Abstract The study focused on identifying, measuring and assessing the nature and extent of impacts of urban absolute poverty on young women in Epworth. This was made possible through documenting the meaning of poverty. To achieve its objectives, the study used interviews and questionnaires as research instruments in relation to the triangulation of qualitative and quantitative research methods respectively in this research. The Structural...
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...INTRODUCTION Gadgets are important to the society. They are man-made technology that is highly accessed by this generation. It is said that electronics gadgets modifies the world. This will show the true power of electronically gadgets. There are many types of gadgets. The gadgets that are usually used by students are smart phones, tablets, televisions, laptops, computers, X-box and kinect. The researchers picked this topic because technology has gotten more attention than the studies of the students of this generation. They would like to know what would be the reason why the youth is more interested in gadgets than their academic performance and the knowledge and skills that they would develop in school. They want to know what they could gain from using gadgets and what they will lose in using these objects. They would also like to be informed about what the changes in behavior and thinking that could affect the growth of a student. They want to asses if the spread of technology would become a distraction or a help to a student. The investigators were appealed to the topic because gadgets are now able to provide easier access to information and educational advantages. Gadgets get the attention of the students because of its engrossing and fascinating presentations of information. This also helps the parents who are unaware of the effects of gadgets to their child’s study. Overuse of gadgets may result to interference with the student determination and ability to learn. Technology...
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...The Rising AIDS Epidemic amongst African American Females By Shameka L. Weathersby Department of Sociology Mississippi College The Abstract Our country is faced with so many challenges wars, financial meltdown, and the growing threat of the AIDS epidemic. More than 56,000 people in this country contract HIV every year. AIDS was once thought to be a white epidemic that accounted for a high percentage around the 1980’s until the late 1990’s. Today it is worst among African Americans who represent nearly half of all new HIV infections, including two-thirds of the new cases among women and 70 percent of the new cases among adolescents. In researching African American accounted for the greatest percentage for cases diagnosed among males (44%) and the majority of cases among females (68%) among the ages 20-40 years old. AIDS clearly has affected certain groups more than others have. This study of AIDS among black women has caused concern in attitudes, health awareness, and beliefs when expressed by the community level. In interviewing three women and the AIDS, association we found that education alone is not a solutions but the changing the ways of thinking can produce a better outcome. This paper describes the practical usefulness of qualitative research in HIV/AIDS prevention education. Introduction Over the past 20 years, we have heard of new diseases like Ebola virus, lime disease, chronic disease but among these new diseases, AIDS has become the most...
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...catastrophes, which is the matter that Goodell brings up. The injustice I refer to is that of the NRC’s negligence to comply with proper safety protocol and renovation to addressing the serious domestic threat of aging nuclear reactors. Since its inception, the NRC has pushed nuclear power to the people, but has since let its duty to the public fail the test of moral obligation. Skirting safety investigations and legitimate refitting of old nukes, the NRC and the industry it puppeteers could end up with a nuclear meltdown on its hands. The cost for such inaction may very well include billions of taxpayer dollars in cleanup and aid, and the untold millions of displaced or irradiated civilians. Though Goodell’s article does address the possibility of imminent risk taken by the nuclear industry, he falls short in conveying the sense of urgency that is needed in order to effect change for America’s nuclear industry, ultimately making his article more PAST than CUSP. My analysis and research will fill in the gaps of forensic evidence and touch on the due deliberation by improving upon Goodell’s poor use of rhetorical modes. One of the PAST things that Goodell does is underrepresent former Sen. Pete Domenici as an influential nuclear energy advocate, which does not contribute to a deep understanding of his significance in the one mentioning. In my findings there is certainly enough evidence that can reflect decades of examples that can illustrate what kind of person...
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...Goldman Sach vs. SEC By: Lemar Clayton The Goldman Sachs situation presents a leadership ethics dilemma. Is it okay for banks to bet against their customers to manage risk and hedge their bets? In fact, I’m willing to bet that opposing sides in the argument don’t even see this as a dilemma. “The senate subcommittee grilled Goldman executives for 11 hours because they clearly think that what Goldman did was morally wrong, if not illegal.” ("Sec charges goldman," 2010) Contrast that with Goldman’s shareholders, who probably think it’s unethical for Goldman’s executives not to hedge against a mortgage collapse. There is a middle position that says the hedging itself wasn’t wrong, it was how Goldman did it that was questionable. Goldman should have disclosed its short position and possibly even details about the origins of those CDOs to customers. Let me begin by explaining what is a CDO, Goldman takes a reference portfolio, or a bunch of bonds. A bond is a formal contract to repay borrowed money with interest at fixed intervals. Each set of bonds is senior to all the bonds below it, and they pay principle in order of their seniority. You can view it as a pyramid with different slices. The portfolio is giving a rating by Wall Street. Each slice has a different maturity and risk associated with it. The higher the risk, the more the CDO pays. Level E will take losses before D, and level C will take losses before B. It’s important to note the bonds don’t have...
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...bepress Legal Series Year Paper Enron and the Special Purpose Entity. Use or Abuse? The Real Problem - The Real Focus Neal F. Newman Texas Wesleyan Law School This working paper is hosted by The Berkeley Electronic Press (bepress) and may not be commercially reproduced without the permission of the copyright holder. http://law.bepress.com/expresso/eps/1165 Copyright c 2006 by the author. Enron and the Special Purpose Entity. Use or Abuse? The Real Problem - The Real Focus Abstract In December of 2001, Enron Corporation filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code; one of the largest corporate bankruptcy filings at that time. When the investigations commenced and the tangled Enron web was unraveled, it was discovered that Enron had perpetrated a very sophisticated form of accounting fraud through its repeated use of what are referred to as Special Purpose Entities (“SPEs”). In their most basic forms, SPEs are business entities formed for the purpose of conducting a well specified activity such as construction of a gas pipeline, or collection of a specific group of accounts receivable. However, because of their complex nature, SPEs can be used to manipulate a corporation’s financial results, which was the primary use for which Enron employed the SPE structure. As a result, the investment and financial community has cast a dark cloud over the special purpose entity, depicting the SPE as an inherently evil structure whose only purpose is to...
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...3, 2, 1: Global Debt Meltdown We are steamrolling toward a massive global debt meltdown, and at this point world leaders seem to be all out of solutions. Over the last 30 years or so, the greatest debt bubble in the history of the planet has produced unprecedented prosperity in the western world. But now that debt bubble is starting to burst and the bills are coming due. Many believe that "ground zero" for the coming global debt meltdown will be in Europe. Unlike the U.S. and Japan, the nations of the EU can't just print more money to cover their debts. Nations such as Greece, Portugal and Italy must repay their debts in euros, and those nations are rapidly getting to the point where their debts are going to overwhelm them. Unfortunately, major banks all over Europe are very highly leveraged and are also very heavily invested in the sovereign debt of nations such as Greece, Portugal and Italy. If even one EU nation defaults it will start tipping over financial dominoes. If more than one EU nation defaults it could cause a cataclysmic wave of bank failures all over Europe. But Germany and the other more financially stable countries of the EU cannot bail out nations like Greece, Portugal and Italy indefinitely. Pouring money into Greece is like pouring money into a black hole. When you take money from financially stable countries and pour it into hopeless messes, you may stabilize things for a little while, but you also cause the financial condition of the financially...
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