Napoles has been alleged of having engineered a PHP 10 billion scam over the past decade by using the pork barrel funds of 5 senators and 23 Congressmen for ghost projects. She was even tagged as the alleged mother of the PHP 10 billion pork barrel scam. Napoles’ firm was allegedly tapped for government-funded projects that were later found questionable. The “so-called projects” include the PHP 728 million funds for a fertilizer project for poor farmers. It was alleged that the fund was diverted
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FUNDAMENTALS The interest rate or required return represents the cost of money. It is the compensation that a supplier of funds expects and a demander of funds must pay. Usually the term interest rate is applied to debt instruments such as bank loans or bonds‚ and the term required return is applied to equity investments‚ such as common stock‚ that give the investor an ownership stake in the issuer. In fact‚ the meaning of these two terms is quite similar because‚ in both cases‚ the supplier is compensated
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Roseli Marti Garcia‚ Arlene TR 8:25-9:50 AM 26 March 2013 “The Red Convertible” by Louise Erdrich Separated by War The short story “The Red Convertible” is told by Lyman Lamartine‚ one of the two main characters in this short story and one of the many characters that are involved in the novels of “Love Medicine” by Louise Erdrich. That is why the story is symbolic because it
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The Red Convertible Because Louise Erdrich‚ uses the brothers and convertible to show how this relationship can bring readers together. Ann Charter’s in her definition of “Allegory‚” states that interaction are meant to reveal a general or abstract truth (1787). “The Red Convertible‚” author Louise Erdrich’s‚ portrays the drowning of sorrows‚ hurts and frustrations‚ brought home by Henry after serving on the battlefield of Vietnam. Both brother have emotional and traumatic experience that
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Arbitrage n Government Bond Market Case Facts: Samantha Thompson‚ who analyzed and traded government bond for the firm of Mercer and Associates‚ seems to believe that she has found an arbitrage opportunity in U.S government bond market in 1991. U.S government bond market is the largest‚ most liquid‚ and closely watched fixed-income markets in the world and hence finding an arbitrage opportunity there was unlikely. Mercers were active in repo markets and occasionally participated in bond arbitrage on its
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for his thrilling stories that bring into play several of the scientific and technological advances of his day and those to come. Many of his stories would have the underlying theme of technology and its relationship with another factor. The Nine Billion Names of God published in 1953 demonstrates just this‚ in which the story’s main characters are caught between their logic and that of another group. Clarke’s short story addresses the conflict between technology or science and religion. In addition
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MORTGAGE BACKED BOND (MBB) WHAT IS IT MBBs are the third asset securitization vehicles. They differ from pass-thru and CMOs in 2 key dimensions: 1. Pass thru’ and CMOs remove mortgages from bank’s balance sheets as forms of offbalance sheet securitization. 1. MBBs normally remain on the balance sheet 2. Pass thru’ and CMOs have a direct link between the cash flows on the underlying mortgages and the cash flows on the bond vehicles 2. For MBBs‚ there is no direct link between the cash flow on
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Stocks versus Bonds: Explaining the Equity Risk Premium Clifford S. Asness From the 19th century through the mid-20th century‚ the dividend yield (dividends/price) and earnings yield (earnings/price) on stocks generally exceeded the yield on long-term U.S. government bonds‚ usually by a substantial margin. Since the mid-20th century‚ however‚ the situation has radically changed. In addressing this situation‚ I argue that the difference between stock yields and bond yields is driven by the long-run
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FINS3630 Data Exercise (Group Project 1) S2‚ 2013 Lixiong Guo Due Date: Due in tutorial in Week 5 In this data exercise‚ you and your group members will examine the performance of the Expectation Hypothesis using real data and make forecasts for the future. You are required to complete the following tasks to earn credits for this assignment. Part I: (1) Go to the Reserve Bank of Australia (RBA) website‚ find the statistic section‚ and then download the data file named “Zero-Coupon Interest
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Annexures 5 Summary of Facts Gilda Sears who is enrolled in an Investments class has picked a project on bond price theorems. The two main theorems that she decided to illustrate dealt with coupon rate and term-to-maturity and how these factors influence the price. Thus she included 2 bonds with the same rating and term with a different coupon rate‚ as well as two bonds with the same rating and coupon rate with different terms. She thought that if the bond markets were efficient‚ bonds with similar
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