Note this is just a technical admiration of the website with zero political endorsement.
Bye Bye American Tie,
Drove your balance sheet to the ground ,while aiming high
And good old boys were taking risky bets, why
Saying this will be the day I will fly
This will be the day I fly
It happened in a land far away,
American suits and ties went to play,
With exotic mortgages and collateral held sway.
The jesters they were, they passed securities
Bought and Sold ,each one in piece.
There was nobody to stop the band,
And music played ,and the players danced.
Then I got the news the day the music died.
I started singing –
Bye Bye American Tie,
Drove your balance sheet to the ground ,while aiming high
And good old boys were taking risky bets, why
Saying this will be the day I will fly
This will be the day I fly
My hands were clenched in fists of rage,
Bad news from front to last page,
I was going to lose my mortgage,
And no one could tell me why.
The day the music died.
Pricing of Future Securities and Derivatives Based on Mortgage Assets are all about projecting delinquency rates , and it depends on the analysts to be either conservative in projecting a high rate or optimistic in a low rate.
Based on these projections , the assets are priced, packed up in SPV’s or collateralized, and options priced. Now Senior Management gets a big bonus if they sell off their balance sheet like this, and business is able to use cash generated to create higher loans….. so they lean on the analyst to Continue reading “Sub Prime Crisis: A Risk Analyst view from the Trenches”
You can create Google Alerts at http://www.google.com/alerts/
with certain keywords to track certain keywords (like for
1) advertising campaigns (also use Google Trends)
2) tracking companies
3) domains (like Tyres in Poland)
Use Gmail older rules or MS outlook rules to direct the emails to certain folders to avoid flooding your inbox.
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Well for customers who are India bound, and are shopping for loans face an acute shortage of options. Most online banks claim to be award winning in terms of design. Unfortunately, most of them act as lead generators and nothing more. I have worked with one of them myself. Even third party loan comparers end up NOT making a commitment on the final loan and amount, because of
1) lack of credit assurance in India due to established credit ratings for individuals.
CIBIL is considered too young (< 5 years) and is the only credit rating agency.
2) lack of exposure to latest tools available globally online.
As the saying goes, Why risk being innovative , if you are already having respectable market share, and are meeting your annual banking bonus in India’s financial services sector – booming (till 2007) and now rapidly growing (despite the central bank’s rate raises).
Indian customers remain the most under leveraged in the world, have very low delienquency rates, have Continue reading “BANKING 2.0|India and the Internet”
Here is a great inspirational speech , by a legendary computer science Professor Randy Pausch, who helped make Sims for Electronic Arts. He gave this lecture after being diagnosed of terminal cancer, and its wonderful viewing for anyone. Its inspirational, and its about fulfilling your childhood dreams.It kind of reminded be of the short story “The Last Leaf ” , by O Henry .
Carnegie Mellon Professor Randy Pausch (Oct. 23, 1960 – July 25, 2008) gave his last lecture at the university Sept. 18, 2007, before a packed McConomy Auditorium
http://www.youtube.com/watch?v=ji5_MqicxSo
If you want to read it ,it’s at –
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http://download.srv.cs.cmu.edu/~pausch/Randy/pauschlastlecturetranscript.pdf
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