The Abacus Controversy The Goldman Sachs Group‚ Inc. was hit hard by the 2008 financial crisis as a result of its involvement in subprime mortgages‚ and was later rescued in a huge U.S. government bailout. On 16th April‚ 2010‚ the Securities and Exchange Commission charged Goldman Sachs and its vice president Fabrice Tourre for “defrauding investors by misstating and omitting key facts about a financial product tied to subprime mortgages as the U.S. housing market was beginning to falter.” It was
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In assessing the ethical issues surrounding the Goldman Sachs Abacus controversy‚ there are several factors that must be taken into consideration. Despite John Paulson playing a limited role in the ultimate construction of the CDO by having a hand in the asset composition selection process‚ as well as Goldman’s lack of disclosure in excess of the law‚ it is important to recognize that the counterparties to the CDSs were sophisticated investors. As sophisticated investors‚ making large speculative
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with Wall Street? The Goldman Standard and Shades of Gray Activity 3 MGT7019-8 NorthCentral University Abstract This assignment reviews the value of ethics in the Goldman & Sachs ABACUS case. It list and analyzes the actions and position taken by Goldman in regard to the transactions that took place in the marketing of the securities in question. It proves that Goldman adopted a standard of complying with law enacted by the government
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Abacus Inc. has asked you price a 5 year bullet bond issue for them‚ with Price‚ Yield to Maturity and Modified Duration. There are no comparable existing issues in the secondary market either by Abacus or a competitor and so you will need to price the issue from scratch. You have the following set of US Treasury bond data and consultations with your Bank Equity Analyst and Debt Analyst suggest that a Z-spread for Abacus of 200 bps over Treasuries and a coupon rate of 6.5% should be appropriate
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1 The Abacus Alexis Fratesi Professor Hobbs Liberal Arts Math I February 23‚ 2015 Fratesi 2 Alexis Fratesi Professor Hobbs Liberal Arts Math I February 15‚ 2015 History of the Abacus The abacus‚ often called the earliest calculating machine in the world‚ has a long history. The Abacus is a Latin word from the Greek origin word ‘Abax’‚ which means calculating table (Dictionary.com‚ 2015). The evolution of the Abacus is said to be dated back to
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learn the time tables and uses the abacus as the best tool to learn the time tables. It explains how pictorial memory is certainly better than rote memorization and with the use of the abacus it is not only proved by test to be effective but also a fun way to learn the time tables according to Shrimankar. The facts stated in this article are backed by the results conducted by a group of children‚ and it concluded that the group of children that used the abacus were free of the phobia created by rote
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The abacus Abdiel Gutierrez Abstract—This paper will show the importance that the abacist had during the Renaissance time in Europe‚ and the time line they followed and the mathematical advances they did to algebra. Normally they have been merchants or people that taught the merchants in the operation of the abacus. They appear in Europe in the beginning of the 1400 century and lasted until the year 1600. Their work was very important for the development of mathematics because they were the first
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......................... 2 Amphitheaters ......................................................................................... 2 The Arch ................................................................................................. 3 The Abacus ............................................................................................. 3 The Aqueduct.......................................................................................... 4 Understanding Ancient Rome - Jesse ..........
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early aid to counting. (a) Calculators (b) Organisers (c) Fingers (d) Computers 2. The Abacus is a ______ device (a) Modern (b) Mechanical (c) Electrical (d) Chemical 3. Among the following‚ who is a French man (a) John Napier (b) Blaise Pascal (c) Gottfried Leibniz (d) Herman Hollerith 4. Early men started counting by using (a) Abacus (b) Computers (c) Blocks (d) Fingers 5. Abacus is an instrument known to have been used for counting as far back as (a) 500 BC (b) AD 2000
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events‚ and transactions in The SEC vs. Goldman Sachs case. In that deal‚ Goldman was approached by John Paulson of Paulson & Co. to assemble a synthetic CDO dubbed ABACUS 2007-AC1‚ in exchange for a $15 million fee. Goldman brought in an outside asset manager (ACA Capital) to aid in the selection of collateral that was to comprise ABACUS. John Paulson played a significant role in the portfolio selection. In the end‚ it
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