POLICY AND POVERTY: US, UK and China

May 30th, 2014 by Kara in Case Studies

By: Jackie Connor (A Chinese translation of this essay may be found HERE.) I. DEFINING POLICIES AND POVERTY RATE Which policies are more effective at reducing poverty? We review policy and poverty in the US, UK, and China. In the US we look at six areas of policy in particular: (1) transportation, (2) defense, (3) education, (4) health care, (5) pensions, or (6) general welfare. It may seem easy to differentiate between the six broad policy categories. In practice, the meaning of each of the six terms is debatable. The following gives the ...

THE SINS OF FINANCIERS

May 20th, 2014 by Kara in Essays

  Michael Black, the librarian of Blackfriars Hall and former Director of the American Stock Exchange, revisits the sins of corporate finance Dr Michael Black in the library of Blackfriars Hall, St Giles, Oxford Did my uncle create the financial bomb that finally blew up the world economy in 2007–8? Put it this way. Along with Myron S Scholes and Robert C Merton, Uncle Black (Fischer Black to everyone else) was credited in the early 1970s with formulating the mathematical model that led to derivatives. To cite just one post-Lehman historian: “Without derivatives, leveraged ...

Cheung Kong and the Apex Horizon Hotel

May 13th, 2014 by Kara in Case Studies

By: Charlotte Tang   Early in 2013, the deal of the Apex Horizon All-Suite Hotel in Hong Kong gained attention and controversy because of its suspected adoption of a collective investment scheme.  Ethical issues range from the design of publication materials to the closure of the deals. Amidst the criticism, Cheung Kong (Holdings) Limited called off the deal after about three months of investigation and discussion with the Securities and Futures Commission of Hong Kong. The company gave compensation packages to investors, most accepted. Nonetheless, there also are lawsuits against Cheung Kong ...