Showing posts from February, 2011

Travel Insurance

There is no doubt that every people like to travel. The role of travel insurance is huge for those people who like travel. In travel insurance there are many incidents can happen such as general travel expenses, damage of baggage, cancellation, other health related claims and other critical aspects of your entire trip. So if you purchase the travel insurance then its good for you as it includes adequate coverage for lost or stolen baggage and it's contents. The rate of travel insurance depends on insurance coverage according to the expenses of the goods covered and the type of policy.
Tourism sector offers most of the travel insurance plans therefore you can purchase the travel insurance. There are also many insurance companies available from where you can purchase the travel insurance according to your plan.
In case of travel there are many unforeseen circumstances such as theft of baggage, theft of cash, cancellations of flight etc may occur during the trip but these problems c…

Solve Your debt by Debt Consolidation Company

Its very common that if we are to fall into debt then the life become so miser and on that time people feel very helpless. We know that its not easy to come out from the situation of debt and when every morning you will receive the debt related bills at your door then your headache will increase. If you are in debt and unable to pay your debt amount then it can take away your happiness of your life. If you are not paying the debt amount then your debt will get increase due to interest rate. And in this way you have to face a major problem with the big debt amount. Always try to pay your debt amount as soon as possible. But if your debt amount is big and you can not pay at a time then you should look for alternate option to solve your problem. In such a situation you can take the help from debt consolidation companies.

There are many debt consolidation companies who can help you to come out from the debt. So you should consult with the debt consolidation companies as they are very ex…

America, Madoff, The New York Times

I will put you in a car in front of 1600 Pennsylvania Avenue and drive for an hour at the direction of your choice. Not particularly fast; about 60 or 65 miles per hour.

I will then stop in a small community and ask you to walk out and look around and talk to people.

You will not believe you are in “America” in the second decade of the 21st century. Not so much because of poverty, mind you, which reduced Bobby Kennedy to tears, but because of impossible, almost surreal ignorance; it will jolt you. “Folks” who think that the age of the earth is 3,000 years, who think New York is a foreign land, who have never – EVER – heard of California and who believe in a physical devil who would come and take you to hell, which they think is a few thousand feet below, above BP's Deepwater Horizon. Couples – men and women – who make the two hillbillies in Deliverance look like a pair of French intellectuals in a Left Bank cafe.

And it goes on and on, getting worse as you head to the West and away f…

High Frequency Trading and Flash Crash – 5: “Discretion to Delay Trades”

It is easier to gain insight into the theoretical principles of a system in its early stages of development. The early stages, whether of a natural, mechanical or social system, include only its defining features, those irreduciably minimum parts which are absolutely necessary for it to become what it is. As such, they are easy to spot and “tie” – through reverse engineering – to the principles that drive the system. As systems become more mature or more “advanced”, the layers of the later additions cover and obfuscate the essentials.

Thus, if you want to understand the principles of mechanical flight – powered, sustained, controlled – you’d have an easier time with a replica of the Wright Brothers’ plane or a 1920s crop duster than an Airbus A380. The latter has way too many components that are not essential or even related to mechanical flying. They get in the way of understanding what makes a machine airborne.

(I was told that within a few years German cars will have no hoods that d…

Happy Home Loan

It is not possible for human being to live without a home. Every family needs a home where they can live because home is a refuge for every human being where people can live. Every people want their own home in their own name. But if you want to build your own home then its not easy as you need lot of money to build a home. If you're thinking that's going to take time to save the money to build the house, then you should think about the home loan option. If you really want to complete your dream then home loan can help you a lot. The home loan will provide the money you need in order to build a house.

There are many banks and financial institutions who issue the home loan but in home loan you have to give the guarantee to bank that you have the ability to repay the loan amount. You should always give the correct information to the lender like your financial situation, any pending improvements to your financial situation. The bank officer would like to know about your current …

Funny in Finance

Today, I chortled while reading the Financial Times. I want to share the story with you because it is funny. Not shaking-your-head funny but real, ha-ha funny.

An outlet by the name of the World Sugar Committee called high frequency traders in the sugar market 'parasitic'. “Sugar body blames ‘parasitic’ computer traders for volatility” was the heading.

No, the World Sugar Committee is not a spoof from a Woody Allen movie or a remake of The Airplane! And no, it is not a communist organization in North Korea. It is, according to the FT, “an advisory group [whose] members include some of the largest trading houses, hedge funds, brokerages, producers and refiners”.

So the hedge funds, the locusts, are calling the HF traders parasites!

That is amusing. Now comes the funny part. In a strongly worded letter to the ICE Futures US exchange, the WSC president complained that “the presence of new high-frequency speculative funds only serves to enrich themselves at the expense of traditional …

Summers in Winter

I have a full plate of things I have to do, on top of which stands Vol. 4 of Speculative Capital whose completion is getting more pressing with each passing day. So, I ignore the uninterrupted stream of drivel that passes for economic discourse in the press and media. But when I read the (brilliant) Larry Summers’ last interview with the New York Times this past Wednesday, I decided it merited a brief comment for educational purposes. When it comes to highlighting the barrenness of thought and intellectual rot in the government and academia, old Larry can be counted on to deliver.

Here is the opening paragraph from the interview:
The peripatetic Larry Summers is once again back at Harvard, teaching a class on American economic policy with Martin Feldstein and Jeff Liebman – two other prominent former government economists – and reacquainting himself with the joys of free speech now that he is no longer President Obama’s director of National Economic Council, President’s Clinton’s trea…

The Ratings Charade Continues: A CLO Investigation, Part II

To bring you up to speed on this exciting melodrama:

Last time I showed you why CLO (collateralized loan obligation) ratings are almost certainly a scam, and why Mr. Ratings Guy from Standard & Poor's should know as much. It was (I hope) a math-lite and entertaining trip through the bowels of high-finance complexity, Wall Street style.

Of course I reached the end of the rather long post with more questions than answers. Why does this ratings scam exist in the first place? Who benefits? Who loses? In today's conclusion, we'll look at the not-so-surprising answers. Center stage in this discussion will be the misrated AAA tranche. It's the largest CLO piece by far, a good 70 percent or so of the overall fund -- and, as you're about to find out, that's no accident.

So why does Mr. Ratings Guy turn a blind eye to ratings that, deep in the pit of his stomach, he knows can't be correct?

Remember Upton Sinclair's little gem of wisdom:
It is difficult to get a ma…

Elimination of credit card debt

Today credit card is very common and each city is using the credit card. But you should always keep in mind that if you are not using the credit card according to your financial situation then you can be in credit card debt. Credit cards are very convenience for the people because if you have credit card then you don't need to carry your money all time. You can purchase almost everything by credit card that is why the alternative name of credit card is plastic money. Whenever you are buying something by credit card then you don't need to pay anything but at the end of the month you will receive a bill for credit card. This credit card bill include all the charges of those things which you have bought by credit card and with some service charge of credit card.
If your credit card bill is very much high and you can not afford that much of amount to pay your bill then you will face a big problem. As there would be a deadline for credit card bill and within that deadline time the cr…

The Report of the Financial Crisis Inquiry Commission

The 500 odd page report that the Financial Crisis Inquiry Commission released last week pointed to “widespread failures in financial regulation, dramatic breakdowns in corporate governance, excessive borrowing and risk-taking by households and Wall Street, policy makers who were ill prepared for the crisis and systemic breaches in accountability and ethics in all levels”. It concluded that the crisis was “avoidable”,

Mainstream media gave the report a cold shoulder. The Financial Times wrote that like The Murder on the Orient Express, the report was saying that “everyone did it”.

But what would have been the alternative? To look for a culprit or a “smoking gun”? That, too, the Commission did – and with a vengeance. “They didn’t find a smoking gun but it wasn’t for a lack of trying. The chairman devoted too much of the staff’s time and energy looking for that smoking gun,” a Republican member of the Commission told the FT.

A calamity that paralyzed the financial institutions in two conti…