Introduction Currently‚ it becomes more significant to understand the role of accounting played in the financial market in order to explore the deep knowledge of the relationship between the accounting and real practice financial world‚ especially in the capitalism state. Catchpowle‚ Cooper and Wright insisted (2002) that the accounting and capital are not distinct forms‚ and the social relation between them need to be focused. The current financial market and economic situation has a crucial implication
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CANADIAN BUBBLE‚ EH? How real is Canada’s housing bubble anyway? More real than any other countries. That is due to the following facts that I will present below‚ but first it is better to start with a little history. In the year of 2008‚ as stated on Statistics Canada‚ the recovery of the recession was much quicker than in other recession period such as in 1981-1982 and 1990-1992. However‚ was it a real recovery or an illusion? In 2011‚ Globe and Mail published an article on why Canada’s recession
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Whitney issued a research report on Citigroup stating that its survival would require it to raise $30 billion‚ either by cutting its dividend or by selling assets. More than any other analyst‚ Whitney raised concerns about the risks posed by the subprime mortgage market—and by the attendant threat to overall economic activity. How timely were analysts in raising the alarm? As it happens‚ public markets had begun to signal concerns early in 2007. At that time‚ the VIX was fluctuating in the range
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Akash Agarwal ACCTG 2600 – 005 The documentary Inside Job does a very good job of explaining what happened in a relatively short period of time and in an accessible way. The film also has compelling villains and outrageous behavior that is bound to engage and enrage viewers. It ’s basically an overview of the financial crisis of recent years‚ which we are still recovering from. The thesis seems to be that the regulations that were put in place after the Great Depression have been systematically
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doc-view-50115 Wikipedia 2002. BLACK TUESDAY OCTOBER 29th 1929 REVISITED? Retrieved from http://www.depression2.tv/chronicles/black-tuesday.pdf Wikipedia 2009. Recession Retrieved from http://en.wikipedia.org/wiki/Economic_recession Wikipedia 2009. Subprime mortgage crisis Retrieved from http://en.wikipedia.org/wiki/Subprime_crisis
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Investment Banking in 2008 Group Report 1. Failure Analysis: Identify the major factors that contributed to Bear Stearns’s failure? Who stood to benefit from its implosion? How did Bear Stearns’s collapse differ from the ‘Long Term Capital Management’ failure a decade earlier? What could Bear Stearns have done differently to avoid this fate? In the early 2000’s? And during the summer of 2007? And during the week of March 10‚ 2008? (1) Identify
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This dissertation concerns the idea that neoliberal political ideologies can be fundamentally linked to social harm theory‚ in terms of their consequences and outcomes‚ the research question this analysis centres on is‚ ‘Can social harm theory be applied to the consequences of neoliberalism’s political ideologies?’ Since the late 1970’s the incorporation of the neoliberal ideology has become ever more apparent in western society‚ it could almost be described as being imminent. Throughout the past
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in house prices from 1996 to 2006. The money the banks earned were not real money but were made in a system rooted on gambling and greed. The money profits were usually booked 2-3 years in the future to smooth their books. The most risky loans – subprime loans – where house buyers were almost 100% financed
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(i) Glass-Steagall Act (1933) Great Depression At the time after the stock market crash (1929)‚ during the Great Depression‚ most of the people agreed that the main cause for the event was the “improper banking activity” which was mainly seen as the bank involvement in the stock market investment. Banks were taking high risks in hope for rewards‚ they were “accused of being too speculative in the pre-Depression era” (HEAKAL‚ 2010‚ pg.1). They were not only investing their assets‚ but they
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Objective This objective of this report is to analyse and evaluate the financial data of Merrill Lynch through 2006‚ 2007 and 2008. It also looks at the developments in the financial markets during these years and its impact on Merrill Lynch‚ a what-if analysis of the possible financial performance that might have existed had the economic downturn not occurred and in the end summary and conclusions based on the findings. Introduction to Merrill Lynch Merrill Lynch is one of the world’s premier
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