Studienarbeit aus dem Jahr 2009 im Fachbereich VWL - Finanzwissenschaft, Note: 1,3, Hochschule Aschaffenburg, Sprache: Deutsch, Abstract: "By design, this [CDS] market [...] has been largely exempt from government regulation [...] But regulation is not only unnecessary in these markets, it is potentially damaging, because regulation presupposes disclosure and forced disclosure of proprietary information can undercut innovations in financial markets [...]." - Alan Greenspan, 2002. "Credit Default Swaps, I think, have serious problems associated with them" - Alan Greenspan, 2008. Seit der Erfindung der Credit Default Swaps ist über ein Jahrzehnt vergangen. Ursprünglich sollten "Kreditausfallswaps" den Marktteilnehmern als innovatives Absicherungsinstrument dienen. Dieses Kreditderivat trennt das Kreditrisiko vom zugrunde liegenden Schuldtitel und überträgt es auf Dritte. Dadurch, so versprach Alan Greenspan im September 2002, können Finanzsysteme negative Schocks durch die breitere Verteilung von Risiken auf unterschiedliche Finanzakteure besser kompensieren. Der ehemalige Vorsitzende des Federal Reserve Board plädierte deswegen für einen weitestgehend deregulierten Markt. Als im Jahr 2007 die Immobilienblase platzte und zahlreiche Kredite ausfielen, mussten enorme Beträge in den Kreditportfolios abgeschrieben werden. Dies führte zur Akquisition von Bear Stearns, zur Insolvenz von Lehman Brothers und zur Verstaatlichung von AIG im Jahr 2008. Durch den Ausfall großer Marktteilnehmer entstand gleichzeitig die Gefahr einer systemischen Krise, die Finanzapokalypse des 21. Jahrhunderts. Daraufhin gestand Alan Greenspan im Oktober 2008 die Risiken und Probleme im Umgang mit CDS nur unzureichend reflektiert zu haben. Diese Arbeit beschäftigt sich daher mit der Entstehung des Gefahrenpo-tentials, das von CDS ausgeht, deren Auswirkungen auf die Finanzmärkte und den Maßnahmen zur Regulierung des Marktes.
Drawing on new research, this biography of William Steinitz (1836-1900), the first World Chess Champion, covers his early life and career, with a fully-sourced collection of his known games until he left London in 1882. A portrait of mid-Victorian British chess is provided, including a history of the famous Simpson's Divan. Born to a poor Jewish family in Prague, Steinitz studied in Vienna, where his career really began, before moving to London in 1862, bent on conquering the chess world. During the next 20 years, he became its strongest and most innovative player, as well as an influential writer on the game. A foreigner with a quarrelsome nature, he suffered mockery and discrimination from British amateur players and journalists, which eventually drove him to immigrate to America. The final chapters cover his subsequent visits to England and the last three tournaments he played there.
White Americans have long been comfortable in the assumption that they are the cultural norm. Now that notion is being challenged, as white people wrestle with what it means to be part of a fast-changing, truly multicultural nation. Facing chronic economic insecurity, a popular culture that reflects the nation's diverse cultural reality, a future in which they will no longer constitute the majority of the population, and with a black president in the White House, whites are growing anxious. This anxiety has helped to create the Tea Party movement, with its call to "take our country back." By means of a racialized nostalgia for a mythological past, the Right is enlisting fearful whites into its campaign for reactionary social and economic policies. In urgent response, Tim Wise has penned his most pointed and provocative work to date. Employing the form of direct personal address, he points a finger at whites' race-based self-delusion, explaining how such an agenda will only do harm to the nation's people, including most whites. In no uncertain terms, he argues that the hope for survival of American democracy lies in the embrace of our multicultural past, present and future. "Sparing neither family nor self…he considers how the deck has always been stacked in his and other white people's favor…His candor is invigorating."—Publishers Weekly "One of the most brilliant, articulate and courageous critics of white privilege in the nation."—Michael Eric Dyson "Tim Wise has written another blockbuster! Dear White America is a cogent analysis of the problems of race and inequality as well as a plea for those who harbor views about race and racism to modify and indeed eliminate them. While the book's title addresses white people, this is really a book for anyone who is concerned about eliminating the issue of racial disparity in our society. This is must read and a good read."—Charles J. Ogletree, Jr., the Jesse Climenko Professor of Law at Harvard Law School and the Executive Director of the Charles Hamilton Houston Institute for Race and Justice. "Tim Wise is an American hero in the truest sense of the term—he tells the truth, no matter how inconvenient that truth might be. Dear White America is a desperately needed response to the insidious mythology that pretends whites are oppressed and people of color unduly privileged."—David Sirota, syndicated columnist, radio host, author of Back to Our Future: How the 1980s Explain the World We Live In Now
During a career spanning more than 50 years, J.H. Blackburne (1841-1924) won the British Chess Championship and several international tournaments, at his peak becoming one of the world's top three chess masters. A professional player who derived his livelihood from annual tours of chess clubs in England and other countries, entertaining and teaching amateur players, he astonished his contemporaries by the ease with which he played the game without sight of the chessboard. At 21, he set a world record for such exhibitions, competing against 12 club players simultaneously, and he continued to perform "blindfold" into his sixties. This first comprehensive biography of Britain's greatest chess player of the 19th and early 20th centuries presents more than 1,000 of Blackburne's games chronologically, including all his surviving games from serious competition, annotated in varying detail. Many are masterpieces containing beautiful combinations and instructive endgame play. Blackburne's unusual family and social background are fully explored.
Never before has the so-called mainstream media shown such naked political bias as in the 2012 presidential election. In 2012 Barack Obama was narrowly reelected, with naked support from a liberal media desperate to hide his failures, trumpet his accomplishments, and discredit his GOP rivals. Bachmann, Perry, Cain, Gingrich, Santorum: one by one the media took them apart using hidden-camera exposés, innuendo from anonymous accusers, repetition of harmful sound bites, and irrelevant—even untrue—storytelling. As soon as Mitt Romney emerged as the Republican Party's nominee, the liberal media went to work in earnest. They repeated Obama's campaign caricatures that Romney terrified his family dog, enjoyed firing people, and was nothing more than a willing tool of wealthy radical-right extremists. The Washington Post published a 5,400-word "exposé" on the allegation that in 1965 he may have pinned down a boy and cut his hair. Those same Post readers were then treated to 5,500 words on Barack Obama's lifelong love of basketball. Unquestionably, 2012 was the year when the liberal news media did all in their power to steal the presidential election—and they arguably succeeded. Media Research Center Founder and President Brent Bozell and MRC Director of Media Analysis Tim Graham provide the dramatic and conclusive evidence to prove this point—and show conservatives how to put an end to the leftist media agenda threatening democracy itself.
Clowns, tightrope walkers, acrobats the election is a three-ring circus! Who is the ringleader in American politics? Barack Obama? Newt Gingrich? Bill O'Reilly? Donald Trump? The frontrunners may change from day to day but there's no shortage ofplayers. Thishighly collectible edition of 52 paper dolls for grownups takes a witty look atthe current crop ofRepublican candidates, Democratic cabinet members, andpundits of every persuasion allwith rib-tickling outfits and accessories. Dover Original.
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