Professor Elam
Accounting & Investing Info for San Antonio A & M
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Category: Financial Acct
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Thursday Feb 4, 2010 California is now paying 3 percentage points more than the Treasury bonds to finance its debt. We will be discussing this article on the Black board website as a learning tool for Chapter 14 on bonds in Intermediate Accounting. Important Learning Objectives here A Credit Default Swap CDS is an insurance…
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Monday Feb 1 2010 Even Lech Walesa believes the US is headed to socialism. But that is now what caught my eye about this story. From BreitBart On Friday, January 29th, 2010, Lech Walesa, former President of Poland, traveled to Chicago to endorse Illinois Republican gubernatorial candidate, Adam Andrzejewski. We were fortunate enough to have an…
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Monday Feb 1 2010 The secrecy of Swiss Bank Accounts has been dwindling at a rapid pace for some time. The US has gone after drug money accounts and now tax shelter accounts around the world, effectively piercing the famous bank secrecy veil. Now the Swiss themselves warn that UBS would be finished in the…
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Jesse's Cafe and James Rickard frame the picture clearly here. This will form the base of another ethical case I am constructing, or rather that meta data and data mining have constructed for all of us. Front running is the practice of knowing what trades are about to happen, executing a trade in front of…
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The European Union has reserved baiouts for natural disasters. Greece is a man made financial disaster, borrowing 12% of its GDP, just like Britain and the US come to think of it. Bond spreads, the additional percent points above other country costs of borrowing, have widened for Greece, ie Greece is paying a lot more…
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Elizabeth Warren explains the TARP fiasco on the Daily Show.
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Valero Refining VLO lost over $2 billion this past year. Most of that was a one time loss due to closing a Delaware Refinery. But VLO still lost money on an operating basis. The price of oil doubled from its lows last January. But the price of gasoline only moved up about 50%. So there…
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Ben Bernake Fed Chair is up for re appointment. Here is an excellent article that frames the question. The article points out that the FED has not produced al the documents about saving AIG which of course saved Goldman. Recall that Lehman was not saved. I have assigned several articles for the intermediate and ethics…
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Wed Jan 27 2010 Purchases of Credit Default Swaps CDS are on the rise against the spectre of defaults on foreign or sovereign debt. We mentioned the PIGS here recently Portugal, Italy, Greece, Spain. Those countries are struggling to meet their debt obligations amidst debt downgrades. So holders of that debt are buying insurance against…
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Tuesday Jan 26 2010 Apple reported record revenue and sales for this past quarter. Read the release. Would you understand what the release says if you did not understand accounting? I didn't think so. This is why we study accounting.
Professor Elam 