Tue 23 Dec 2008
Associated Press (AP) has 3 reports about moral hazard in US government’s US$700B bailout policy to financial industry.
Tue 16 Sep 2008
Amidst the biggest financial industry shake-up since the Great Depression, an article in Washington Post from The Associated Press, show the real culprit of what happening in Financial Market.
It’s been nearly a decade since Congress and President Clinton reshaped the financial landscape. That 1999 legislation removed Depression-era barriers between commercial banks and investment firms and allowed the creation of financial behemoths where years later the risks of underwriting subprime mortgages were somewhat hidden.
Former Sen. Phil Gramm, R-Texas, until recently one of the McCain campaign’s top economic advisers, was a chief writer of that law.
McCain voted for a Senate version of the bill but did not vote on the final package. Biden voted against the Senate legislation but for the final compromise that Clinton signed. Obama was not in Congress at the time.
Meanwhile, the big 2 in Investment Banking category:
For Goldman, which is expected on Tuesday to report its worst quarterly results since going public in 1999, it was the stock’s biggest one-day drop in eight years.
Morgan Stanley, which has been shedding assets since an embarrassing fourth quarter loss last year, likewise will be under pressure to show its house is in order when it reports results on Thursday.
We need a preventive action especially in Financial System, as said by Paul Krugman from NYT
The real answer to the current problem would, of course, have been to take preventive action before we reached this point. Even leaving aside the obvious need to regulate the shadow banking system — if institutions need to be rescued like banks, they should be regulated like banks — why were we so unprepared for this latest shock? When Bear went under, many people talked about the need for a mechanism for “orderly liquidation” of failing investment banks. Well, that was six months ago. Where’s the mechanism?
To better understand the financial problem, The Time has 2 good articles: How Financial Madness Overtook Wall Street and Why the Government Wouldn’t Let AIG Fail.
And there is also a rumor about relations between AIG and China
(Updated 08/10/03)
Another good article from Reuters
(Updated 08/10/04)
Spheres of influences
(Updated 08/11/28) Thomas L. Friedman wrote after Citibank was bailed out more!
(Updated 08/12/27) Chinese Savings Helped Inflate American Bubble
Thu 9 Nov 2006
According to this report until September 2006, the number of PSP shipped is ２２.９４0 thousand PSP, with 14 milion PSP for just last year. Until September 2006, Nintendo could shipped ２６.８２０ thousand Nintendo DS (with DS Lite included).
In the meantime, Sony was predicted will be sold 4.13 million PS3 until March 2007. Meanwhile, Nintendo was predicted will be sold ５.４７ milion Wii until the end ot the year.
Kesimpulan: kalau PSP sudah bisa di hack, ternyata DS juga sudah bisa. Tunggu sampai beneran dapet infonya 
Wed 4 Oct 2006
Peringkat negara dengan perusahaan yang sulit menyuap:
Peringkat negara dengan perusahaan yang mudah menyuap:
Source: Transparency International; Article from BBC
Wed 21 Jun 2006
An interesting article from Newsweek about How Long Will America Lead the World? by Zakaria, a Newsweek editor with background from Foreign Affairs Magazine’s Editor in his belly.
Some of the quote are:
Our greatest danger is that when the American public does begin to get scared, they will try to shut down the very features of the country that have made it so successful. They will want to shut out foreign companies, be less welcoming to immigrants and close themselves off from competition and collaboration. Over the past year there have already been growing paranoia on all these fronts. If we go down this path, we will remain a rich country and a stable one. We will be less troubled by the jarring changes that the new world is pushing forward. But like Britain after Queen Victoria’s reign, it will be a future of slow, steady national decline. History will happen to us after all.
Fri 12 May 2006
An interesting data from WSJ in article WSJ.com – Thinking Global
New International Monetary Fund data show that official currency reserves of the developing world nearly quadrupled over the past decade to $2.9 trillion last year, while those of industrialized countries rose 150%. Last year alone, emerging-markets’ reserve holdings grew 18% from the previous year, against a 1.5% decline among developed countries. That has put nearly 70% of global currency reserves in developing-countries’ hands, “a staggering accumulation” says former U.S. Treasury Secretary Lawrence Summers. The share of total reserves held in dollars was 66.5% in 2005, up from 65.9% in 2004. And the total amount of reserves has doubled in the last five years. So there are more reserves overall — and they’re concentrated in less reliable hands.
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