Introduction The global financial crisis that erupted in September 2008 has thrown economies around the world into a recession. The root cause were sown in the credit boom that peaked in mid-2007‚ followed by the meltdown of sub-prime mortgages and securitized products. Fannie Mae and Freddie Mac were both taken over by the government and on September 24‚ 2008‚ Lehman Brothers declared bankruptcy after failing to find a buyer. The fall of Lehman Brothers rattled the global market and led to a
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reduce uncertainty by enabling effective risk management‚ and support economic activity and stimulate savings and investment. Insurance sector will also increase the efficiency of the entire financial sector by reducing transaction costs‚ creating liquidity and economies of scale. A modern‚ well-functioning insurance sector is essential for achieving sustainable economic growth. With the advent of the global financial crisis‚ the economy is experiencing a very hard time. The insurance industry as
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Explain how the CPI is calculated (6) CPI is a measure that examines the weighted average of prices of a basket of consumer goods and services‚ such as transportation‚ food and medical care. The CPI is calculated by taking price changes for each item in the predetermined basket of goods and averaging them. The basket of goods is a price survey that is taken from 10‚000 households across the UK. The households are asked to record what they buy for two weeks and from this the 699 most occurring goods
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Just after ten years of Asian financial crisis‚ another major financial crisis now concern for all developed and some developing countries is “Global Financial Crisis 2008.” It is beginning with the bankruptcy of Lehman Brothers on Sunday‚ September 14‚ 2008 and spread like a flood. At first U.S banking sector fall in a great liquidity crisis and simultaneously around the world stock markets have fallen‚ large financial institutions have collapsed or been bought out‚ and governments in even the wealthiest
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Massive amount of Banks Assets and liabilities‚ which were much huger than the Icelandic GDP. The banking Assets expanded as the Graph shows to be in 900% of the Icelandic GDP. Source: Financial Supervisory Authority (2010) The extent to which the global financial
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the world. The global economy also comprises of global financial system. Global financial crisis however‚ is turmoil in the world financial system caused due to some illogical reasons and mismanagement by the financial institutions. The global financial crisis basically reflects a combination of three-factors which marks the worsened situation weakening balance sheets of financial institutions‚ continuous fall in asset prices‚ weakening global growth. A worldwide period of economic difficulty experienced
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The Eurozone crisis (often referred to as the Euro crisis) is an ongoing crisis that has been affecting the countries of the Eurozone since late 2009. It is a combined sovereign debt crisis‚ a banking crisis and a growth and competitiveness crisis.[8] The crisis made it difficult or impossible for some countries in the euro area to repay or re-finance their government debt without the assistance of third parties. Moreover‚ banks in the Eurozone are undercapitalized and have faced liquidity problems
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Although not one of the largest mortgage service companies in the nation‚ Mortgage Lenders of America is growing rapidly. Headquartered in Kansas City‚ Kansas‚ the lender serves 34 U.S. states with FHA‚ USDA and VA government-backed loans in addition to conventional loans‚ however‚ they do not offer Fannie Mae or Freddie Mac mortgages. Much of the lender’s business is from online customers; their website offers information about their services and it also gives consumers a way to verify the lender’s
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Causes of Air Pollution Harm from air pollution was first exposed when fires were built in poorly ventilated caves. Since then pollution of the earth’s surface has dramatically increased. Lately‚ ecological pollution harms have been neighboring and slight because of our own planets ability to take in and clean minor quantities of pollutants. The industrialization of civilization‚ motorized vehicles being introduced‚ and the rapid growth of the population‚ is factors contributing toward the growing
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people are at high risk to develop malaria‚ especially‚ with p. falciparum type of infection‚ pregnant woman‚ people with HIV‚ infants and children under the age of five years due to the decreased immunity in their body. P. vivax is one of plasmodium strains that have a dormant liver stage and it can activate and invade the blood after months or years‚ causing many patients to relapse. A malarial parasite that is exclusive to humans is P. malariae; this parasite can result in quartan fever and a chronic
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