Financial Engineering: A Primer on SubPrime Mortgages

The following slide presentation explains Subprime Mortgages in a way that most of us without economic backgrounds. The author is unknown, but it was forwarded by an ACSian with the comment "wonderful explanation AND, in flatlander language too!!!"

Can Asia Rescue the Global Economy?

This discussion on whether the Global Economy can be rescued by the lessons and other resources of our own continent by our cohort Linda Lim comes from Yale University Online website at yaleglobal.yale.edu

ACSian Humour: Disappearing Money Magic Trick

ACSian Humour: Disappearing Money Magic Trick

The $55 trillion question

The material below comes from the CNN website

Worth of US Companies:

Worth of US Companies:

* A I G -Then: $178.8 billion... Now: $5.46 billion. Down 96.95%.
* Bank of America -Then: $236.5 billion... Now: $123.4 billion. Down: 47.82%.
* Citigroup -Then: $236.7 billion... Now: $76.34 billion. Down 67.75%.
* Merrill Lynch - Then: $63.9 billion... Now: $30.2 billion. Down 52.74%.
* Fannie Mae - Then: $64.8 billion... Now: $0.45 billion. Down 99.3%

* Morgan Stanley - Then: $73.1 billion... Now: $41.1billion. Down 43.78%
* Wachovia - Then: $98.3 billion... Now: $19.44 billion. Down 80.22%
* JP Morgan Chase - Then: $161 billion... Now: $130.2 billion. Down 19.13%
* Capital One Financi al - Then: $29.9 billion... Now: $16.9 billion. Down 43.48%
* Washington Mutu al - Then: $31.1 billion... Now: $3.64 billion. Down 88.3%
* Lehman Bros. - Then: $34.4 billion... Now: $0.80 billion. Down 97.6%
* Goldman Sachs - Then: 97.7 billion... Now: $40.6 billion. Down 58.7%

* Wells Fargo - Then: $124.1 billion... Now: $111.25 billion. Down 10.35%
* National City - Then: $16.4 billion... Now: $2.8 billion. Down 83%
* Fifth Third Bancorp - Then: $18.8 billion... Now: $7.9 billion. Down
57.6%
* American Express - Then: $74.8 billion... Now: $37.5billion. Down 43.78%
* Wachovia - Then: $98.3 billion... Now: $19.44 billion. Down 80.22%
* Capital One Financial - Then: $29.9 billion... Now: $16.9 billion. Down
43.48%
* Freddie Mac - Then: $41.5 billion... Now: $0.16 billion. Down 58.7%

* Suntrust Banks - Then: $27 billion... Now: $16.07 billion. Down 58.7%
* BB&T - Then: $23.2 billion... Now: $18.4 billion. Down 20.69%
* Marshall & Ilsley - Then: $11.6 billion... Now: $4.48 billion. Down 61.3%
* Keycorp - Then: $13.2 billion... Now: $5.68 billion. Down 56.97%
* Legg Mason— Then: $11.4 billion...Now: $4.96 billion. Down 56.49%
* Comerica— Then: $8.3 billion...Now: $4.74 billion. Down 42.89%
* Countrywide Financi al: Then: $11.1 billion...Now: $0.00 billion. Down
100%
* Bear Stearns— Then: $14.8 billion...Now: $ 0.00 billion. Down 100%.

Together these 25 companies have lost investors a total of
$992,690,000,000 over the last 12 months... or nearly USD1 trillion...

And of course the Management congratulated themselves with bonuses of
several billions at the expense of shareholders!!