transferring the financial instruments relating to its unrealised losses to several funds that were not part of the Olympus group. The scandal attracted global public attention, especially after the CEO and president of Olympus at that time, Michael Woodford, was expelled by the board of directors.
Battle of Gettysburg because of his loyalty and devotion to the union, moreover, he had been determined to keep the high ground because of his knowledge that it would be critical in order for a victory. John Buford was born on March 4, 1826 in in Woodford County, Kentucky. He was the first son of John and Anne Bannister Howe Watson Buford. There had been 15 siblings from both his parents first marriages that he grew up with. His grandfather also served in the “Virginia cavalry in the Revolution, serving
subsequently hidden with the aid of investment companies by shifting the investments around. In the 2000’s, these losses were to be repaid by paying exorbitant merger and acquisition fees to these investment companies. After newly-appointed CEO Michael Woodford blew the whistle on these frauds, the company got into trouble. Our research into the events leading to this
Fossil fuels are an important part of life. When you turn on the lights, watch TV, or take a shower, the electricity that you are using is being generated by fossil fuels. The three types of fossil fuels are coal, crude oil, and natural gas. They all take millions of years to form, so they are considered to be “non-renewable”- eventually, the fossil fuels will all be used up. One dangerous biological effect of using fossil fuels is ocean acidification. Extracting and transporting fossil fuels can
Federal Reserve Bank of New York Staff Reports Shadow Banking Zoltan Pozsar Tobias Adrian Adam Ashcraft Hayley Boesky Staff Report no. 458 July 2010 This paper presents preliminary findings and is being distributed to economists and other interested readers solely to stimulate discussion and elicit comments. The views expressed in this paper are those of the authors and are not necessarily reflective of views at the Federal Reserve Bank of New York or the Federal Reserve System. Any errors
BP plc (LSE: BP, NYSE: BP) is a British multinational oil and gas company headquartered in London, United Kingdom. It is the third-largest energy company and fourth-largest company in the world measured by 2011 revenues and is one of the six oil and gas "supermajors". It is vertically integrated and operates in all areas of the oil and gas industry, including exploration and production,refining, distribution and marketing, petrochemicals, power generation and trading. It also has renewable
Banking, Liquidity and Bank Runs in an In…nite Horizon Economy Mark Gertler and Nobuhiro Kiyotaki NYU and Princeton University May 2012 Abstract We develop a variation of the macroeconomic model of banking in Gertler and Kiyotaki (GK2011) that allows for household liquidity risks and bank runs as in Diamond and Dybvig (DD1983). As in GK, because bank net worth ‡ uctuates with aggregate production, the spread in the expected rates of return on bank credit and deposit ‡ uctuates countercyclically