Olusegun Aganga, Goldman Sachs outfit, and the Nigerian economy By Sampson Iroabuchi Onwuka

By Iroabuchi onwuka

Aganga Olusegun is the new Finance minister and Chairman of the Board of World Bank? I can’t explain it. He has the best wishes of the country but there is need to be ‘cautiously optimistic’ with this new man on the block.



The appointment of Olusegun Aganga as Finance minister and Chairman of the Board of World Bank and IMF was hailed by Nigerians as a step forward in the attempt to redress Nigerian Financial image. Olusegun Aganga with all due respect to his fans seem to be relatively unknown. The man is a largely unknown quantity so to speak, a fact that is complicated by his recent honorary as Chairman of the Board of World Bank and IMF. It is not to be said that the new title is expected to enlarge his International weight, for it seems that he was a very light quantity. The much of what we know of the man is that he helped to negotiate a 4 billion dollar rescue package for certain Nigerian Banks sometime last year, details of which were not very clear. It is now speculative that Goldman Sachs was probably the Jack in the box and given the new details of Goldman Sachs and it chicanery on CDO, we should have course for concern. If however such isolated incident is enough to penetrate the ranks of the Nigerian financial institution, Aganga is perhaps more than welcome to work for the country in terms like this and we wish him the best.



The intention of those who awarded Olusegun Aganga the Robe at the World bank is very clear that Nigeria as a country is to be given a larger role in Africa and perhaps the world. Nigerian economy is currently straddled in its cusp between the dark embrace of 2008 ‘epic of financial’ whose victims included Soludo and the hope of its financial survival under the aegis of Sanusi. In many ways and for what it’s worth, the country needs to welcome the man and his Alma mater, and for the sake of this trust, Nigeria need to be cautiously optimistic given the additional importance attached to the man and about the robe that was vested on him. From the nature of the unprecedented promotion, it will seem to suggest that Aganga Olusegun’s appointment is ‘Custodian’ in the ‘Hedge Fund’ traditional sense of word, for we know that the post is nothing else than an ‘empty suit’ of recognition, a recognition which explains the ranks of Investment Banks who engineered his decoration at World Bank. This appointment alone should have sent out the right signal to Nigerians and to Nigerian media, that something is wrong with the set up, that some is wrong with a Finance Minister caught between two opposing interest, his loyalty to Goldman Sachs and his interest in serving his country. Whereas, Americans would tilt to challenge the other titles, our talk active Nigeria seem to acquiesce. But this is not the first time.



It is expected that the Nigerian finance Minister, Aganga, is perhaps meant to serve as the primary relief pitch for CBN chairman Mallam Sanusi Lamido. The CBN chairman’s reactionary tendency towards his fellow bankers proved detrimental to the International rating of Nigerian Banks. It may not have seem clear to the ‘unsuspecting’ Nigerians that but Sanusi’s personalized view of Nigerian banking society and funds of funds management was far too radical for a Central Bank Chairman. The role of the Central Bank Chairman in price moderation is Interventional, perhaps adjudicative but at no point is it Executive. Price is a quantity of ‘economic statistics snapshot’ and as such Price is normal market condition is expected to determine its own range in any market. It is however this price in terms on Nigerian market and in terms of Naira that now serve as our primary concern in accepting Aganga under the canopy of Sanusi. Sanusi’s quick fix actions inadvertently injured the international reputation of Nigerian financial products, a case in command that many people will still argue. But Sanusi’s policies without the international ‘anchor’ of IMF were only destined to hurt, a fact which Sanusi himself may have noted given his final tilt towards Universal Banking. He was trying to amend the Nigerian International reputation through Universal Banking. This idea of Universal Banking open us to the reasons behind Aganga nomination for he will be redeeming grace of such ineluctable error. Aganga serves as a formal rejoinder of Nigerian Banking society to the rest of world.



What is however not formal is the financial war which has broken up between Nigeria and the rest of the world. In short view, Aganga’s appointment as the Chairman of the Board of World Bank - days after his conformation - is only a form of death sentence of Nigerian domestic market and probably a trap. This Aganga’s decoration therefore conceals everything and nothing, for we are now left to entertain the question of Nigerian preparedness for such financial endorsement and trade fair. My candid view and answer is that Nigeria is not ready for this big time engagement, for the country’s domestic economy is seriously weak and uncompetitive. Nigeria is sucked into an al warfare from which the certainty is further collapse due to very weak Internal market dynamics. But this war is not like any war known to us, and the end of the war is close to what we find in today’s Greece. The war between Nigeria and the rest of Super Currency world its clearly monetary, clearly statistical, clearly digital warfare of market statistic. Nigeria will eventually be needing such thing as implied debt and rate, forced through the international rate pendulum of ‘super currency’, a rate that swings in one direction and by its energy, an International rate that wreck the domestic rate. This is where the issue lies since Nigerian economy and its Naira has become absorbed into the equation of International financial body. By entering into the same ring as these BIG others, the economic value of Nigeria no longer apply. Then, will apply the inherit problem of debt due to decline in debt management, a condition ultimately expected to be redeemed by a coalition of good fellows; Investment Banks.



Olusegun Aganga in his opening statement after confirmation sounded off the issue of Power Supply in Nigeria as a top priority and last week the Nigerian president Goodluck Jonathan promised Niger Delta a total solution to its power supply. It is clear that we are witnessing a classic motif of Goldman Sachs in Public financing. Such motif of Goldman Sachs in Aganga statements are comments about the general assumption of debt, debt in the guise of pay package and for balancing the budget. All, and much of these traits add up to long term financial of these banks and form part of the portfolio strategy of Investment banks dealing with relatively weaker economies. In a sense, Goldman Sachs’ financial product for nations include debt structure and need to bail out failing institutions, for all these points to the essence of International Monetary Fund which is rubric of Aganga commentary.



But the IMF is not a voluntary organization, it is an assortment of Banks and one Bank. In many ways, the new International responsibilities of the ‘New Nigerian’ in office compel the ‘See’ of International financial society such as IMF on Nigerian market. This oversight is uncalled for and unlikely to pay, for how could Nigerian economy compel itself to suffer the rates of International markets. This can only mean one thing and one thing only that International standards will now apply to the Nigerian market. But this is not good at all, not that foreign ‘see’ is not necessarily a bad interference but IMF and World Bank are just a bunch of International financial organization owned by Investment Banks. These banks include the likes of Gold Sachs. The Investment Bank in question bring with it a ‘Negative externality’ that usually impact on a third world performance in Real Time money market. Such bad performance is almost a guarantee for profit for these Banks doing business in Third world economies. The profit is at best a symptom of weak domestic third markets, a condition that will become weaker as Investment Banks such as Goldman Sachs offer their debt structure. In that guise much of the current affiliation with IMF and World Bank with Nigeria is not that useful for they operate with as much agenda as the Investment banks of US before the 2008 collapse. These foreign donors apply the same rule of profiteering and commercial engineering bereft of the defunct US Investment Banks and only ‘suckers’ like our good Nigerian are likely to believe that IMF and World Banks are International helpmate for their prospective economic venture.



In the argument, we can remind ourselves that in any business of the world, there are always ‘losers’ or ‘suckers’, and there are those who profit from the rest of them. In essence, there is no probable hiding place for the Nigerian economy from this time onwards, no room to secure its economic growth away from the International Society. This does not take anything away from the baiting in itself which is set for and against International Power banks and for their super currency. There is then a probable need to be cautiously optimistic of this Aganga’s new marriage with the world as captain of two ship. There is no point to pretend that the outcome of this new marriage and ship is detrimental, since it is very clear that the only ship that is likely to sink downwards is the very Nigerian Ship. The marriage of Nigerian financial to the rest of the world is exposed to accommodate opportunity for the fledgling economy, and in IMF and World Bank, they stand the chance of such opportunity. But this may not be the case, this is so far from the case that it is safe to assert that IMF and World Bank are only intent on making their profit from your prospective countries and not the other way round. This view is so complete in its downwards spiral that we can equally assert that national loses to the Banks are by several examples entirely inevitable going at least by the example of Greece and European Financial debacle. In blunt view, it is safe to cite that there is no need to expect any useful deals with these Banks, no need to promote these banks on any plausible grounds except one of loses and indebtedness. This problem of debt and debt structure, always put a funk on the stability of most countries of world, and instability occur because these countries are more than likely unable to pay the huge spike in debt. From such spike, CDO ‘Collateralized Debt Obligation’ essentially thaw, and the rest is just history as usual.



Greece financial debacle did not happen overnight. The compromising exposure of the Greek economy to the International rates at the expense of her economy and domestic market is for a million page the detriment of the country. Long Term Greece may have arranged big time deals with power house corporation for official public works much like ‘Nigerian Power Supply’ in Niger Delta, or in their case Olympics. Greece may have acquired or attracted International Hedge Funds management to give stability to its financial engagements, and like all businesses involving International markets, it was meant to be Long Term. But all Long Term engagement are economically noted by shorts. Short Term the Greeks inability to maintain its debt structure (which is only expected to be the case due to capital appreciation of the Super currency and its investment grade) forced the country to succumb to the tenets of the debt obligation and then failures of businesses naturally occur by way of capital depreciation.



Investment Bank’s strategy such as Goldman Sachs are not too far from these bunch of lenders and are not too far from spotting deficits in your National budget. These Investment Banks always lend to business outfits, always lend to financial institution, to Hedge Funds and always tend especially to oil countries for long term purposes. Goldman Sachs like other Investment Banks always engage the real estate of stable economies of the world. Always engage the stock market of most countries of the world, especially countries where IPOS are monitored. Goldman Sachs always slush funds in many of their ‘shady deals’, all in such a way that the host country and investment grade will sour so high, so fast on the ‘long term greedy’ of a Gus Levy (which is an indirect snob on the greedy going long) that any crack on the rate of expected returns will shatter any business community. In Markets if not Banking and Financing, ‘Excess Returns’ is more or less equal to the Anomaly of Risk. Illiquidity as we find Greece today and in Nigeria 2008, is not without the influence of bad mathematics and manipulation. These market, Greece and Nigeria are high risk markets only useful for shorts. Greece today defaulted on number of real time ‘Expected Returns’ and with that came the instability of the their financial market. This financial failure could have only been the expected and now actual yield from Greece, for it seems clear to many economics that Greece neglected their Domestic Market when it accepted the International barometer for Euro membership. Greece, in accepting the custodian of European membership inadvertently choked the price movement or their local markets and in the end, they were destined to reap the grapes of debacle. In private investment from Europe and US, Greece was expected to grow like others, to practiced eyes that was only unlikely the case, as such the sudden nose of the Greek domestic market, collapsed with it the International investment and bond market, all of which were no surprises.

Olusegun Aganga, Goldman Sachs Outfit, And The Nigerian Economy - Nigerian Village Square

Olusegun Aganga, Goldman Sachs Outfit, And The Nigerian Economy - Nigerian Village Square

Olusegun Aganga, Goldman Sachs outfit, and the Nigerian economy (I)d

By Iroabuchi Onwuka

In the argument, we can remind ourselves that in any business of the world, there are always ‘losers’ or ‘suckers’, and there are those who profit from the rest of them. In essence, there is no probable hiding place for the Nigerian economy from this time onwards, no room to secure its economic growth away from the International Society. This does not take anything away from the baiting in itself which is set for and against International Power banks and for their super currency. There is then a probable need to be cautiously optimistic of this Aganga’s new marriage with the world as captain of two ship. There is no point to pretend that the outcome of this new marriage and ship is detrimental, since it is very clear that the only ship that is likely to sink downwards is the very Nigerian Ship. The marriage of Nigerian financial to the rest of the world is exposed to accommodate opportunity for the fledgling economy, and in IMF and World Bank, they stand the chance of such opportunity. But this may not be the case, this is so far from the case that it is safe to assert that IMF and World Bank are only intent on making their profit from your prospective countries and not the other way round. This view is so complete in its downwards spiral that we can equally assert that national loses to the Banks are by several examples entirely inevitable going at least by the example of Greece and European Financial debacle. In blunt view, it is safe to cite that there is no need to expect any useful deals with these Banks, no need to promote these banks on any plausible grounds except one of loses and indebtedness. This problem of debt and debt structure, always put a funk on the stability of most countries of world, and instability occur because these countries are more than likely unable to pay the huge spike in debt. From such spike, CDO ‘Collateralized Debt Obligation’ essentially thaw, and the rest is just history as usual.



Greece financial debacle did not happen overnight. The compromising exposure of the Greek economy to the International rates at the expense of her economy and domestic market is for a million page the detriment of the country. Long Term Greece may have arranged big time deals with power house corporation for official public works much like ‘Nigerian Power Supply’ in Niger Delta, or in their case Olympics. Greece may have acquired or attracted International Hedge Funds management to give stability to its financial engagements, and like all businesses involving International markets, it was meant to be Long Term. But all Long Term engagement are economically noted by shorts. Short Term the Greeks inability to maintain its debt structure (which is only expected to be the case due to capital appreciation of the Super currency and its investment grade) forced the country to succumb to the tenets of the debt obligation and then failures of businesses naturally occur by way of capital depreciation.

Facebook | Sampson Onwuka Iroabuchi

Facebook | Sampson Onwuka Iroabuchi

Onwuka Iroabuchi for Governor of Abia State/2011/PDP - The Village Square#post446470#post446470

Onwuka Iroabuchi for Governor of Abia State/2011/PDP - The Village Square#post446470#post446470

Blogger Buzz: Blogger integrates with Amazon Associates

Blogger Buzz: Blogger integrates with Amazon Associates

EXECUTIVE STRATEGY by Timothy C Daughtry,PH.D and Gary R. Casselman, PH.D

Title; Executive Strategy

Author; Timothy C Daughtry, PH.D. Gary Casselman, PH.D

ISBN; 978-1-933102-75-7

Pagination; 225

Published By; Capital Books Inc., Year 2009

Review by; Iroabuchi Onwuka, S

Theme

The book centers on a management question, on how strategy in any company begins? The author tries to show that it begins with a company's necessity to size up a field of bad performance. What does that mean? it means that a company can identify a kind of failure in its operational environment and then proceed with a case study to identify the cause of the failure. The company will go the distance in thoroughly coming to grips with the problem through board meetings, research meetings among other things which usually lead to a plan. And from that plan a new plan is likely to emerge. However simple, or technical the plan is, the failure and success of the whole business lies with the execution of the strategy and not necessarily the eloquence of the plan.

The advent of work problems of 2008 means that sooner or later the issue would have to be dealt with. In this book, the authors were motivated to illustrate the reasons why business management can sometimes be problem to itself and therefore reason exist on how you can remedy the situation. Research in 2003 cited by Kaplan and Norton indicated that CEO failure is due mainly to the execution and not necessarily 'flawed strategy'. The Book tries to mention that out of 100% well developed plans only 10% were actually carried out. For this, the attempt to use their investigatives study from the cases of failed companies and CEOs and explain away the reason why it was the case.

Body

Dr.Casselman and Dr. Daughtry are convinced that failure in any business is due to matters arising from poor execution of strategy than the fact of planning. The blue print discovered over the years while employed at 'Tyco Electronics' 'RFMD INC.' 'Bush Brothers and Company' 'Gap INC.,' 'Henredon Furniture Industries' 'RJ Reynolds Tobacco Company' 'South Carolina Bank and Trust' 'Checkers Corporation' and 'Volvo Cars of North America' and are currently presiding over the CCG Inc., a leadership and organization development.

In this book the authors try to share their experience in approaching the problem of the company upside down in exchange of barten, a process not too far from the rely races, a process that draw out the combating role within the rabks of transition and a process that is not relay races. The author is quick to remind us that "there is a critical difference between the baton in a relay race and the baton of strategy. With each pass of the strategic baton, strategy has to be tranlsated into the language and actions appropriate to each level in the organization.

Senior management man take a strategic decision that "providing the lowest prices in our marekts" is the organization's best hope of sucees. This decision to compete primarily on price has to be translated into functional plans and priorities at the middle-management level".

What seem the more important aspect of Relay races is not the man, the first runner out of the four that started the races is as important as the man that finished the races. Yet the main function of the 'Finish' in the relay races is to cover up the lapses from previous runners and this is where the issue of leadership is fully displayed. It is not the head start that means everythig rather the one to finish it. Whether or not we agree with the loosing strategy, we can credit the book on one account that attention must be paid to what happens to these folks within the ranks as much the attention is lavished on the first and when that position finally make it to the end of the rope, that attention determines the degree of necessity and degree of function. Yet function on the many departments of management is the leading light especially in terms of pay as a way to encourage the workers on tail end and non management category.

Executive Strategy allows us to undertstand that every business has its own attitude and its own learning curve. The book offers us a view into what happens when anyone decides to open for buisness. The competeive environment give way to dynamic leadership and that leadeship often the case of failed businesses is always due to lack of relevant attention to serious aspects of the business management. The big picture is usually the first man/the big man but the final picture which shed light on the whole group and product is the one at the end/the bottom one.

In most cases of business failure, it is always the business that failed to pay the necessary attention to right people and right department that go the distance of failing as the time of competition. Such case is mainly the case when business shift from local to international scene. Success, the book is intent of saying, does not always take our highest intellectual ability but well practiced dynamic routines.

Executive Strategy illustrated the four basic parts of management and leadership in the following way (1) Directional leadership (2) Inter-Personal leadership (3) Implementional (4) Implementional leadership.

1, Directional leadership - by directional leadership the authors of the book refered to 'strategy' 'corporate philsophy' 'Big picture' and figuratively refering to the heads of the organization/the boss and the over arching presence of the heads.

2, Inter-personal leadership - by interpersonal leadership they suggested 'team member' 'coaching' 'mentor' 'modeling' and figuratively the counselors, the ones to guage the rate of performance, the go betweens/middle managers, translators of corporate ideas, co-Bosses, the Boss's men and women and enhance competitiveness.

3, Personal leadership - by personal leadership those who are the face of the industry, who are the 'role models' and their job include representing the industry and company, and they are supposed to be trusthworthy, self confident and ability to know the better way to execute the wish of a company with the company and this according to the authors "describes the ability to understand...and manage onces ego. In particular it involves management of stress and emotional reaction. Ethics/Intergrity.

4, Implementational leadership - by implementational leadership they mean the people who handle 'big projects' the 'Tangible' construction, the review and the follow up more like the finish version of the business, the technocrats. This comprises skills needed to influence others both in the company and outside. It involves ability to implement the plans and tasks set aside.

Executive Strategy allows us to understand that this is the current market dynamic in the world and in American business, this is the currency of management levels. The range of management is from top to bottom and it refers to the years that America was readying to launch itself in the world following the era of reconstruction. The bosses were very useful in discharging the very particulars of business and the ranks of that department and success was top and bottom. Timothy C Daughter and Gary Casselman try to demonstrate that this picture has now changed and that the picture is wrong incurrnt market circumstances, that the technical parts of world markets and its demand has no made more room for techinically adept partners and specialist. The authors of Executive Strategy goes on to say that the mistake had been there for a long time, that the more important of these groups is the implementational as with sprinters to a finsih lane, the 'finish' upon whom the success and failure of the business or product is entirelty due.

If the book Executive Strategy tried to argue that the 'four dimensional leadership' presented above is inversely related to the four management style of the order Top management, Middle management, Frontline management, non-management.Yet it goes that extra mile in explicating why these management positions are also leadership positions and why they matter. How each level of management is expected to handle a six performance huddle; expections, commitment, skill, confidence, personality and motivation, organization. The authors indicated that the last group of leadership;implementational leadership, is of greater importance in a company's success, since this group more than embody all the six dimensions of the management presented above.

From the case above in reverse relationship of classic cadre of leadership versus managment, apoint gradually appears that what is considered relationship between management success and responsible leadership exist in disappearing order, to such degree that as management assume the face of leadership it is understood as upside down of management. Leadership gradually yield ground to Management. The reverse case of management can best be suited in dealing with the six important aspect of succesful business as such much more important than the intellectual statusquo.

PLAYBOOKS AND CHECK BOOKS; The introduction to the economic of sports by Stefan Szymanski

Title; Playbook and Check books; Introduction to the economics of Sports

Author; Stephan Szymanski

Publisher; Pinceton University Press

Year of publication; 2009

ISBN; 978-0-691-12750-7

Pagination; 225

Language; English

Review By; Iroabuchi Onwuka


Theme

There is no evident 'thematic' continuity in this book, no specialist feature nor the presence of great Schools of Thought in matters regarding curacy of Sports marketing and of leading econometrics of Sports.

But from the opening pages we are forced at once to confront the neglected 'this' and 'that' of sports history, enabled to life from its earliest probable years to the inevitable fact of sports as a constant feature in the lives of all peoples of the very world.

But the book is not about the history of sports, the book is seriously about money and about the very management of money, as such the author attempted to provide a broad probable outline for the rise of the games humble beginning to its attractive appendages and then on to daily business of sports.

In other language, this book is an introductory missive on the economics of sports as demonstrated through its History and also a way to embrace embrace a Macualay view on the whole culture of receipt and coupon distribution, both of which are part of resource continuum in the very rotation of money and the attempt on its indepedence of funded enterprises.

Matters arising from Commercials and Advertisement are a constant part of the Book and are well treated, so is in the impart of English society and its Empire in generating the organization sweep for modern sports, enduring as with the case for Cricket and then to other Sports and sponsorship in that order.

Body

The Author Stephan Szymanski begins Chapter one with Al Spalding and Alcock featuring in a london Cricket game, the game was sponsored by English genteel and thier royalty personages. The game was played to a stand still with Alock and company stealing the show. Al Spalding however was the one who begin to see the need to creat identity in the Sports and in Merchandise, the very need to provide each team with a superb selection of cloths and materials leading in and out of the game.

Thus, his buiness to put his name against his team and in creating the supply side of market, Spalding, the grand Patron of the brand name and Alcock the tiket master became richer and went the whole lenght of sponsoring the Crickets games and the officianados without much support of the Royalty.

Szymanski indicated that the rules of game did not come as a matter of rights and wrongs but a constant necessity born out of the issue of merchandising and of players welfare in matters of competition and organisation. When the rewarding side of the whole business began to interfere with the game in itself, rules had to be mandated but from this whole setup, the theory of who gets what, why and when took a whole new face; human face especially.

That issue of the 'facebook' so to speak of the game added another dimension to Sports as a form of rewarding endeavor camotose by ancient and modern popularity. From the book 'Playbooks and Check Books' we can understand the transistion in sports through the years, we can understand that nature of sponsorship as a mocking jest at the psychology of surviving and of the fitter, and how care must be taken to avoid such exorcism of the human passion as ploy for the laboriously rich.

But in reality the book goes beyong that since money promotes the newer curves of competition, so does facility and therefore spur the direct attraction of spectators who sometimes bait agianst the stronger team fulfilling the speculators thrift and the 'Ruminator'.

The main even in deciding what team or teams of interest to support in competitive environment is the Popularity's lasting impression which increasingly changed the game of Cricket and from then, the rest of the story was how modern sports gave life to itself through Sponsorship and how Chartels of ambitions forced other rules of participation negating such as threats as 'invariance priciple'.

On Chartels, the author argues against the efficacy of some of the rules since NCAA in very late times and even the NBA is nothing else than Chartel. So there is the issue of popularity and the suppor of Godfathers, most of whom use a dyke of advisers represented in organsing committee, some of whom chairs in the Chartel. But the impact of Chartel as it spells Sherman's Act in modern day sports.

Stephan Szymanski talked about Monopoly, about the political gambit of siding the running chartel of sports franshises and for political reasons at best, the author tried to play down the tension between passions for teams of ambitions and matters of Chartels who also want a piece of the winning action. For this, the author tend to argue that "critics believe that such arguments mask the true motives of the clubs, which is to maintain a cartel for the purpose of generating larger profits than...in the face of economic competition". Popularity of the winning team was a good omen for larger profit so to speak.

Stephan Symanski highlighted the issue of popularity in changing the face of sports as much as money, changing rules, is not the first time in the history of sports. In the book, the author cited instances of such occassion going back to the time of the Greeks. In Greek repertoire and Olympics, the author began to show how the necessity to perform at such a stage as in Olympic and at the highest point is normally a receipe for bait and for celebrity status.

For instance the author cited Exaenetor of Apgrigentum "winner of the Olympic footrace is in 412 BCE, was driven through the City in a four horse chariot followed by the city's three hundred most prominent citizens". Such attention is not without financial merit and the idea of studying the merit of popularity in terms of sports is not sports marketing but salesmanship altogether.

The Olympiad and the era of coupon, collective bargaining and the modern era of deals, deal break and sponsorship, are matters very necessary to complete the faith in the business. Then licensing and merchanising, Radio and television and stadium receipt occupy the rest of the story about modern sport which some eagerly believe as root for the emergence of super groups of the business of sports and probably its future decline in profit.

Symanski also maintained that reach through broadcast reach or what we call audience reach may be a lasting playing card as problems of spectorship of smaller sports disappear. Then the issue about right competition and of sports, forces a new dimension of gametime as children suffocated on main event are reduced to no event as they take it out on thier laptops and computers. The Book indicated howver that the bidding of airtime and television is seriously out of reach of useful businesses.

'Playbooks and Check books' also spoke of Sports organisations like FIFA, FIBA, English FA, the Italian Seria A, PGA, the NFL, the Cricket Club, MLB, NBA and other sports franchises are proving the market year on year and does away with serious demand for audience in many sports. As such broadcast of games bridges that gap but is the same manner creat its own challenges.

The book attempts to open the floodgate of issues and possibility within the sports industry and why it remains a lucrative industry for young upstarts. How the such sports earn itself through the discipline of economics, through the Media, through the license of players and product, through entitlement and even subsidy and through demographics of number is also maintained in the discourses.

Stephan Szymanski alluded to the impact of statistic within the game, this is the way we can understand the impact of each player and rate their performance. He brought to bear the initial discussion of the formation of football and how the rules of baseball is derive from Knickerbocker club of New York hed by Alexander Cartwright.

Only few games has as many rules World Football, American Football and baseball, much more indicative is the baseball RBI introduced by Gerald Scully in 1970, which has helped to inprove the pay check of individual performance. Baseball also began the rights of players and enhancement of money for players, a process that will overtake players of World soccer/football and help to promote business in the
sports and revolutions of playbook and checkbooks.

The world however is far from flat and that world is full of abbreviation and full of curces. If the world is flat or curved is seriously of no consequence in sports since deeper problems of monetarisation still occur. The book compels us to see the possible, the improbability of such revolt is entirely a reverse case of the book and its common sense since Olympic bidding alone cost millions, if not billions. The issue will take time but econometrics of Sports are now a constant discipline of everyday business and the book, merely a drop in the bucket.

Conclusion.

HEDGE HUNTERS; hedge fund Masters on the rewards, the Risk and Reckoning' By Katharine Burton

Author; Katharine Burton

Published by; Bloomberg Press

Year; 2007

Pagination; 206

ISBN; 978-1-57660-245-4

Reviewed By; Iroabuchi Onwuka




The theme


The book is about Hedge Fund managers who rose to the repectable ranks of senoir advisers and managers of large funds. Such masters include Michael Steinhardt whose father saw him through education inspite of the gambling problems, Marc Lasry, Lee Ainslee, Boone Pickens; the 'impertubable oil man', Dwight Anderson, Josh Friedman, Brain Bradshaw, Julian Robertson, Daniel Loeb, Richard Perry, Craig Effron, etc. The book is entirely their story covering how they faired in their prospective businesses in times of trial and in times of truimph. In one clear langauge, Hedge Hunters is a book about the trials and triumphs of successful business men in an era of business uncertainty. It is not an understatement that people are interested in the history behind these successful men and women given the rise of Hedge Fund mangement and hunters since the late 70's, but how their story is brokered to the public in light of earlier successes is what the book essentially provides. The book is therefore suggesting the left and right of the demands of the business and how newcomers as well as old can profit from them. Hedge Hunters is published published by Bloomberg Press.


The Body


The success of this book lay not in its story but on the organising principle evident, so to speak, in these famous lives. If the author is willing to conduct a second survey of these lives, given the advent of the 2008 financial collapse, then there is room for the book to do much better in the book stands and in content. If the book did not make it big in the streets, it is probably due to the basic assumptions evident in the famous lives she treated. The profile of the book is a basic journalistic outline constructed mainly on Q and A, with the author providing a summary of the whole. Is she failed to hint on how the evolution of the hedge fund industry effected these lives and how these lives changed the industry completely, it for the simple reason that the book mainly highlighted the brighter days of these success story, as if the author was intent on forcing a success of the book by clipping the beautiful side of their stories without deeper probe into these stories and these lives.

The above statement does not mean that the author provided little or no light on the future of the industry neither does it mean that she cast enough doubt of a monolith's financial industry. The light she provided is my own opinion sincere that the industry is exceding its boundry, but such statements about the future of Hedge Industry is to be expected for it serves in many ways an interesting commentary. But a woman seeking to knock the common prejudices of the Hedge Fund Industries, should have gone an extra mile of providing the pros. of the Hedge Industries - archieved through the lives of the named Hunters - and the cons. of Hedge Hunting through the unnamed who did not survive the market, who are forgotten. She would used the platform of endeavor to demonstrate why women may or may not have prospered and how the missing half of the industry may or may not have wondered why.

Hedge Hunters as a literal work belong to the genre of 'Wall Street Wizards' the predecesor to the 'Wizards of Wall Street Wizards' and 'New Wizards of Wall street', but unlike these books that illustrated the basic facts of the interview in question, Hedge Hunters draw from the top and bottom of few people concerned. In many ways what you wind up reading is the inter-connecting stories of people who worked in certain capacity within the industry and how they used their influence to perfect their role as managers. These businesses stemming from the individual who trained them and the school of Hedge Fund they represented. In many ways, it is the face of the people who mastered the act of Hedge fund market that we read but in reading, we learn of the schools of influences that made this individual decided in business.

While these names will make us wonder at the sense of the book, it becomes gradually clear that certain people did not rise to the top of current business community without family problems and without hardwork. For instance Michael Steindhart and his jailed gambling father who managed get to pay his son's way through the college as a promise to the young man inspite of his personal failures. The case of Steindhart as an industry by himself began from his years as a young man trying out his hands in the family business and then the decided to build on that luck and family Trust what will become a successful business group. The story of Steindhart open a flood of insights into what makes anyone successful, that discipline and luck go and globe, but sometimes you need to be in action to find what area is best suited for you.

Then there is Marc Lasry whose story provide us with account of his 'intorelance for losing', but the relationship between risk and losses and the psychology type it tend to suggest was not mentioned in the book, except in the context of the next pick in the role of Craig Effron. This may reveal a contradictory nature of the man, perhaps an element of 'risk management' which Burton did not explioit. In that contradictory sense, we read of Marc Lasry saying that "everyone sees the same situations, but there are only a few who end up investing and even fewer of those who do well" and in the book, the author Katharine Burton seem to recognise this very part of Lasry well in paraphrasing his statement that "the art of investing, says Lasry is about seeing opportunnities that other managers don't see". From a man who has a knack for risk to the very man with a stronger knack for losing, the question is why does he, Marc Lasry, try to bet on probability. The answer to the question lay not in what he is saying but in what he does which in that sense is the secret of behind the strong will of the Hedge Huntes. The book goes on to cite for instance the debacle of Asian Markets of 1997 and 98, there was a lot of gaps in the Asian marekets, and according to Lasry not many people went to look at the stocks available. If they had, they would have discovered that the values of these companies were just suppressed, many of them were actually good companies.

The book goes to demonstrate other groups of money managers, Boone Pickens who she termed the 'impertubable oil' and his picks in the business which include Brain Bardshaw, David Meaney, Michael Ross and Alex sweczyk, all of whom believe in making out the small caps that have a tendency to rise-small cap to Big Cap. These individuals Pickens believe will lead the new era of Hedge Fund management. Then there are great ones like Dwight Anderson and Match Julius 'Doyens of Debt' who use their knowledge of Debt recovery and Bankcruptcy expertise to buy debt ridden companies with a view of helping their recovery from it and then the pay. Their picks include Jeffery Schachter adn Burtin Weinstein. Dwight Anderson called the 'Phoenix Phenomenom', whose pick is shown in Roberto Migone, perhaps the only hedge fund managers to compare true line freakonomics with the reality of surviving the hedge fund industry. Then there are others like Julian Robertson, Richard Perry, Daniel Loeb, Jim Chamos, who are posses a distinct degree of personal discipline and personal ability as 'manager's manager', among other risk drive-in. In naming the masters and the replacement and thier immitation we gain a better insight into mindset of the personel and the story behind them.

In many ways, the book is intended to illustrate the angles of distinction in the business of Hedge fund through the lives of the masters who lived and live it. If the connecting thread between these groups of serious men and women is their ability to manage risk then thier greater ability to withstandand pressure in terms of losses and profits become the line of demarcation. For this, there is a tendency towards summarising the book as an argument that the US Hedge Fund indusry can be understood from the perspective of personalities who grail the very top of the business ladder, for it seem clearly obvious that they could not have made it for such a long time without withstanding the probate burn of other people's money nor are bereft of the ability to hold the line of profit in times of heavy trading. If the top of trading is cracked, the pinnacle will naturally force a downturn but the exit strategy of these giants will make the pinnacle not so much a 'peak as it is a plateau'.

Conclusion

Some famous Psychologist, perhaps Sigmund Freud once said that certain level of human confidence inundate pure ego. He goes on to say that for some peope this is mainly natural and when such ego is fully exercised the only way forward would be downwards. The creative force of ego was overlooked, especially ego stemming from personal homework. But this ego as a form of confidence is by its intoxicating and when we place the Psychologist argument next to frontline politicians like Julius Ceaser, such intoxication is 'absolutely'. In advanced psychology of money if not in Hedge Hunt, this is not case, this not nearly the case for we know that some situations when money is involved can agitate the high art within and then the sparks goes up.

The inexurstible hunt for funds of all kinds has be seen by many as a case of ego, especially the case of Hedge Hunters whose exuding charismatic myth. But the public can now analyse that behavior as a mere side effect of those many years of hardwork, of delicate calculations, of foresight and of ruthlessness. As such ego in business of Hege Fund is as equal to needed confidence as confidence is equal to the coronation of market information, financial research and risk management. The varying nature of Hedge funds is easily tied to these discipline. The other discipline within the industry where success is due in part to the character of the managers in the main event, in part to the training of the managers and schools of training, but at large, Hedge Fund management is all about the ability to dig deeper in course of financial event in order to understand the risks involved and how to management risk through strategic study and forecast. Safe implementation of any startegy is a very necessary tool.

commentary

From the days of Benjamin Graham 'intellingent investor' and with Dodd 'Security Analysis', the world of Value business and Hedge Fund has not been the same. Taking risk in any business which is a form security Analysis need people who are willing to toe a certain line in business. Then faith in the analysis we obtain from company's profile and faith in the conclusion we draw becomes a derivitive of one's own experience in the business. For this, we may notice a shift of function in the table of Hedge Fund managers from the role of an analyst for analysis sake to the role of managers who are not only part of the business they represent, but have the working knowledge of the companies in question and how to expedite the fund in thier charge. This simple fact was not treated in the book, as such a lot of gap exist such that a second book in intently necessary to explain the evolution of Hedge Fund market from the eyes of these lives and also in terms of value. Not only in terms of value added measures but on what these managers have done by their own experience and training. How unique training proves a unique perspective in the trade industry become self expiated by the author and the book.

The book did not highlight the impact of Banking industry in the Hedge Fund as perhaps noted by the eyes of these managers and Hunters. The book suggested an expansion of the Hedge Fund industry has taken place, but this is almost explosion of Hedge Fund managers since the days of the so-called masters. For instance we know that in the 1980's, institutional investors, mutual funds, pension funds, etc around the world have become very evident in countries GDP. Since the days of China and other emerging socialist economies like India entering the common market, there has been new faces in Funds business and newer faces as the world catches up to China. From mutual funds and Hedge Funds of many countries in the world at slightly over 700 billion in the 80's to 5 trillions in 2000's. We are nolonger dealing with an industry of very select champions rather a world of stories of successful hedgefund managers.

Katharine Burton seem to play too close to the success stories of well established Hedge Hunters but may neglected the younger upstarts who would been the connecting thread between the passing and the present; which is really the future. From the lense and lenses of these masters whose stories become human in the book, we can say that the book met its primary target only to the degree that it should be accepted as a book of stories with no psychological relevance beyond the pathos of these persona non grata in Hedge Fund. But this misgives on the great 'potentials' of the book, that as much as people are interested on the binding intellectual tie of these success stories and thier human department, they are happier, perhaps with the guiding geniuses of these people; that is the infectious psychology torching the industry, the people who make the industry and the industry torching their inner psychology. When this is truly harnessed, the broader picture emergers and only then, emulation, as a possesive pronoun in world money and Hedge Fund becomes a 'different matter'.

'Banks Redlining' is still a monstrous phenomenom in US markets

By Iroabuchi Onwuka

Redlining is a term we can avoid if we choose to. It concerns the act of putting a demarcation on the neighborhood of interest where Banks and other financially regulated and chartered institutions are only required to lend based on that neighborhood. By this acts, neighbourhoods may rise to American challenge due to Banks present, or may become cripple due to the Banking acting out their division based on what obtainable in the society. This practice of crippling neighborhoods through lack of appropriate funding continue today throughout America and goes a long way to explain the natural mind construction of several American society, where Banks can doom or boom any part of the country or any business at any time. This idea of profiling - artificially racial among other sorts - is so serious in New York that Bank Charters are willing to employ Asians and Asian Americans of certain stock that never lend to you as African American. Except for occassional scattered few who may go that route of American lending practice, but this is a very rare treat and many of them are leading at the ropes end end of their Job. If no one is willing to take the blame for the use and abuse of lending in New york, then attention should be made to those who represent the Federal Banking Acts in New York and other Federal reserves on the ground such as former Federal Reserve secretary of Bank of America, Timothy Geithner who is now secretary of Treasury and former associate of Federal Housing Authority Andrew Cuomo who is the so-called New York State attorney General. It is difficult to clarify how such acts could actualy take place in a state where much of the citizens are seriously struggling to earn a living and how it could go unnoticed for many decades. But using parameters in terms of Hedge funding and funding activities of the market, we can exploit better holes in the whole question, using indexes such as Credit Suisse First Boston, Hedge Fund Research-HFR, the Hennessee Group, Standard and Poor's s&p, and probably the Hedge index from Center for 'International securities and Derivitives markets' and other managed account Report.

Today's society of learners, especially among the African American who feel seriously defranchised from everything, including Public Television and Television Rights, are not even concerned with the problem of the 'Redlining' and other loan malpractices in US and in New York. For several reasons, much more should be done to make public the facts that the monstrous practice of the last century leading to civil rights era is still a very present and threatning danger to American Urban life. African Americans society and market is no more different from other world emerging economy which grativitate Billions of dollars every day, and if enough attention is given to the African American market, there is a tendency to believe that America would likely be better off than much of its current performance. That this view is seriously mistaken as side a effect of capitalism might have deceived the world into thinking that investigative inquiry into banking activities by third parties should not be taken serious. But the quest however continues, irrespective of the difficulty with African American audience in doign their bit in promoting the right manners in Banking.

Of the few books that I have managed to read in the past weeks, which include the 'American Dream' by Jason DeParle, the 'Universal Banking' edited by Anthony Sanders and Ingo Walter - published by New York University Salomon Center, 'Black Business and Economic power' edited by Alusive Jalon, and the 'Feds' by Martin Mayer, it is only the 'Feds' by Martin Mayer that attempted to speak eloquently of this problems with Redlining, both in terms of the previous years and in current American terms. In Deparsle 'American Dream' we learn of the civil struggle gainst Welfare program, where three lives of women and the children became the central fix in the whole debate and the author made out the case, but nothing concerning the root of the problem was ever discursed at all, that is problably not possible to remove the Welfare without the more erroneous problem of Banking cheating. In the 'Universal Banking' the book reflected the history of the banking in United States through the eyes of senior lecturers and in terms of 'efficiency' and 'growth' . The book highlighted several question of banks 'should banks be in the securities business and insurance, and where and not universal banks should be regulated given its perform relationship to 'specialist firms' and Hedge Funds in Globl markets. The book 'Universal Banking' also highlighted the abuses of Banking industries in taxes, especially the CHASE national bank and Chase Securities and Income involving Albert Wiggin to the Glass-Seagal Act in 1933. Yet no mention at any time was made in the Book about the need and necessity to trace some of the troubles, abuses, and prejudices of 'Redlining' in Banking industry to inner cities of American society. The last of the books is called 'Black Business and Economic Power' concerns business in African American society did not at any time treat the problem, saving for one mention of the history of Banking in Africa in the article 'Money, Credit, and Banking in Colonial and Post Colonial West Africa' by Adanmu G. Adebayo, where highlights of ABC-African Banking Corporation, West African Currency Board, SAP, ECOWAS and so on was made, and nothing that serious was ever said about African American businesses in the last 20th Century.

I managed to read Martin Mayer's book titled the 'Feds' twice, published in 2001 by the Free Press of Simon and Shuster Inc New york, the author made serious arguments about the 'monstrous' acts of denial perpetrated by Banks which if Americans should per chance the record, it could lead to a matter of distrust of Banks. But this it just the 'if'. The Book called the 'Feds' deserves a careful review but it details out the whole measure of what the House of Reps have been doing for some time especially the position of CRA - Congress for the Community Re-investment Act (CRA), where at least in "1991 Congress included the FDIC improvement Act a requirement that when 'CRA' find violations of equal credit opportunities Act, they must refer to the Department of Justice. In the 'FEDS', the author who is not African American exposed what he called ''monstrous'' practice of this redlining which he argued was much more Civil Justice was instrumental in be-deviling African American business and businesses with some of them getting the same message of the so-called inadequacy of credit. Then those who can get a mere drop in the Loans and Venture funding, get serious punitive requirement. But who are we kidding, it is seriously encouraging to make such inquiries into Banking since it mirrors the challenges of the Feds in Today's market, and not only that, it allows us to have a first hand look at what is happening to our financial institutions and its central question of survival. My inspiration to extend any useful review of the whole thing come from this book and the author Martin Mayer should be congratulated for necessarily highlighting the problems and any relevant architect of monetary policy, both of the Executive arm and the Legislative should do the same. Martin Mayer is credited with up to 30 books on Banking and in the 'The Feds' he challenged the State and Feds to do more in terms of investigating the normalised bad manners of the Banks towards lending. In many ways there is a serious connection of the likes of I, who get slammed everyelse and the young and older African Americans who have lost hope in the Banking industry. The question who know what is really happening to Banks? and who can widen that challenege by asking Barack Obama and his compeers to look at the serious problems of denial of loans and services to minority African Americans.


In short view, many many blacks and in fact Africans looking for loans to do business will not get it in New York, except for Mortgate loans in slums where half of the buildings are likely to loose their value with time, and then the 're-possession' due to payment strangled by loss of Job. Yet, the attention of many people is not so much what the banks do in mortage industry, nor the issue of Collaterized Mortage Obligation but what is happening to small American businesses that are owned and managed by certain range of minorities. The language of open source committee does not infect with action on what happens in a trade situated condition when the world of that finance is like the very monetary 'machine that can go on itself', nor do we expect Composites that run other finance materials to explain it all since it goes beyond the reach of many average time investors. Much more incumbent is what happens in derivative market where international markets join heads with American company and groups, in a place where the gap is further widened by different levels of repos. Thus in doing this, the competition that take place during ins and outs of what now happens in our daily business where people who receive enough company incentive will literally deny such incentive to certain people to permit indulgence, will not allow a careful review of this serious problem of lending malpractice. The attempt by the Federal Open Market Committe to investigate certain claims may do more harm than good while the authors who write about African American business and the role of Banks in America might choose to avoid this part of their service to enable a survival rope to continue in their career.


The malpractice of feeding only a particular group of Americans loans and offering credit expansion should however be investigated by Federal Bank Supervision and Federal Bank Agency (FBA) and they should look into what actually cripple African American business, and why they are not seriously represented at any level of business practice available any where in the world. The same should also be said of the 'Truth-in-Lending Act' enacted in 1969 which left the FEDS with some powers to essentially legislate through the three banking regulators among the Home loan Bank Board, the Bureau Credit Unions, the Interstate Commerce Commission, the Federal Trade Commission, the Civil aeronautics Board, the Agriculture Department, where power structures have the power to probe the activities of Banks and Financial institutions under their canopy. It will be very difficult to make such thing happen given the extra ordinary impact of mid-income Americans in today's world. But Martin Mayers position is only worthy of re-investigation but help to widen the gap in knowing what happens in a society where Banks profile others according to their wish.


There are at least 5000 banks and financial institutions in New York, and barely a handful of these banks are majority owned by Blacks. I mean, we can count very less than nameless ten in number including Insurance companies and old foundations owned by African Americans. In many ways the problem will continue long after now, even as we hope against the facts that some studies should be done in this world of inquiry. The African American business men and women are seriously surpressed except for proven talents, and so is their market. The major fulcrum in that whole engine is the banking sector of American finances, a fact that is so understated except for cases when Banks who 'wanna' look good will put a few black eagles in their teller services and in their front line. In many areas of New York, to be sure Queens, you don't have to show up if you are not like 'them'. Yet nothing is done by the US congressional committe to micro-manage the problem, to effectually conduct investigative study through FHA (Federal housing Authority) about such practices especially now that it has taken a very sophiscated form. That role of Bank in determining the first and last of what happens in our society may also lead away the stranger facts of determining the shocking lack of African Americans is senior management positions, not that the talent is not there but the Funds available and securities curve and other National and International derivitive markets are only open to specialised units and fund managers with safety nets.



And speaking of safety nets, US trade Almanac allow us to view what happens to the so-called U.S Total Retirement Market where even rackets from Investment Company Institute, Federal Reserve Board, National Association of Government Defined Contribution Administration, American Council of Life Insurers, Internal Revenue Service provide a degree of funding for the general American, but such open tray of Funding never make it to the proper hands of African American Business who desperately need it. It has infact gotten much more worse in the last decade following the rise of the Euro pretending as counterweight to common benchmarks and common markets adn rise of immigrant populations of Asia. Obama's 700 Billion dollars spending and the spending done in hundreds of billion by Bush to the Americans may have been expected to filter through to the working ranks of American society, but structure and in mocking jest, it will not reach the small business who need it. This is likely the case and may well be, given the highly selective attitude of American banks towards lending, a selection that is entirely visible and hide away the profiling status of these inner cities Americans. Much of the problems of the civil rights era did not even highlight the role of Banks in creating financial inequality between Whites and Blacks in every part of United States and for lack oversight committe of the part of these African Americans, there is virually no mention of this athrocity of profiled lending by Banks. Yet the bad lending acts of Banks in New York, the Bad lending acts of finanicial institutions associated with the world do not get a mention in several books of the world. Many people who have complained that this non-lending behavior of Banks is still evident are nolonger with the banking industries, they get strategically isolated, and those who still complain make a case for themselves and may and may not not point out the root of the problem, which is the Bank.


The advent of Obama's nomination for the Nobel Peace prize as conferred on him by a collage of peoples representing the institution in Norway, had given new tension on the merits of his accomplishment. But the price may not have been for peace that is to come but for his effort in encouraging diplomacy in line with the likes of Bishop Desmond Tutu, Nelson Mandela, and late Martin Lurther. These fore mention group represents the era of civil struggle and how they sought to put away the devisive issues of their day through diplomacy. This nomination of Obama forces a new era of that civil struggle to begin, that the likes of Obama as with other men and women of international repute, are now recognised for their effort is forcing changes in better life programs and in advancement of women's movement. From that angle of fighting poverty and poverty prevention, there is required necessity to remind ourselves of those who have made significant efforts in changing the attitudes of Banks towards other Americans and other citizens. That effort must now be made of what is trully wrong with Banks and other financial institutions having to only extend loans to people who look like them and to a large extent enjoin the same religion. Not too many people will overlook the monstrousity of Indian financial industry in India, where people are turned down on loans for being a certain kind of Caste. Not only in India but in Korea, in South Africa, in Russia, and in Japan where people who do not belong to the 'family' or not among the numbered are to be ignored and should not even try to ask for loans. But they can all pretend to be good people in world markets. In India, there is the monstrousity of voting rights where half of the population are not required to vote, they are not illegible to vote and then there is women's right issue which all carry into the banking and housing industry where the shame is fully unleashed. In many ways, the idea of Redlining which seem to be original to America in the years past, is a mere drop in the bucket concerning what goes on and around the world in terms of profiling and in terms of prejudice, very still evident and US, very much alive in New York City

The US Federal Reserve and the problem of 1981/2

By Iroabuchi Onwuka

Many markets and financial analysts are seriously suspect that the US feds are going to end the year at current rates, which might suggest that the Fed's attention is driven to hold back the weight of Bank's earning until early next year when the full effect of Obama's spending has fully taken place. The short drama in the past few months over the vote of confidence by Obama on Benanke, may have given analyst something to work with, that in the interest of Benanke playing on History as the saving strenght of America economy in times of crisis, Benanke will widen that power by a small interest rate raise to put the country seriously robust until when necessary. But this is not the case and probably won't be. Some analyst have said that a .25 interest rate this year by US federal Reserve will put the economy above 5%, a robust growth that seethes with resentment on the problem of inflation. Inflation in deed might harm the long term view of America Bond market forcing attention to be placed on the strong dollars. On the significant participle of foreign banks and IOU, strong dollars is necessary to handle the problem of inflation on the short term. A strong dollar policy will also keep oil prices in check against the expansionary view of the Americans economic policy. If 0.25 would have happened, American economy would be left with excess money in circulation which may offload as high crude oil price stemming from trade deficit over weak currency. But this may not be the case. If Benanke had gone that route before now, many people of course won't have noticed that the recovering growth of American economy is not fully charged. Above all, only few would seen that such interest rate raise would have slightly weaken American economy given the position of current successes as a false start. The play on trade was on Crude oil which some traders thought will ballon like last year given the might of Euro leading to the crash, but it was a quicker since others equally believed against the hype. In many ways, a strong dollar policy was only favorable idea in times like this.


But this is where the problem begins. The wound of world crisis is still fresh over the incidents of the financial debacle that rocked markets last year. The problem was finally figured out(as I have maintained) that attention ought to be placed on the dollars and not the Euro, and for us to get a better sense of the market it has to be based on the dollar and then the constituent member of that market. In a sense, the culture of money had to be directly equal to rising value-that the value of any market by any stretch is necessarily by will of a bench mark, like say the dollars of world order which form in many ways the point of the moving arrow. The only thing to remember is that the markets of the world are like a common arrow, where the rest of body are the constituent members, such that the whole of the world markets are necessarily part of that common and singular arrow shot from shaft with a particular direction. This is to be executed with right intention, with or without the view of necessarily hitting the Lady Luck, but non the less in consistent one direction non the less. This view I think is the whole philosophy of market systems. In many ways, there is such a thing as common markets, a sort of demand and supply within demand and supply out of which a better market emerges, and performance of that market allow us to financially speculate the rest. Of course it goes the other way too. It is also necessary to note that the market standard is necessarily the scale, rather the scales allow us to award the crown on the serving ruler. As such no similar such or alternative such crown is possible, unless it is a rebel group threatning the Monarch. But if the succeed...and however they succeed, we can at least strip the crown to proclaim 'long live the king'. The philosophy of one regnal market is the only way I think, we can explain the usefulness of US dollars and its position as the Benchmark of the world and heThe only difference is that this king/Queen is a self sacrificing king, who rules by the function of its services. And the pikes on that Crown are made of markets of the world all composing themselves as the world markets. If there is any attempt on the so-called Bench mark and this case US dollars, it will be a question of crash of the international markets. Europe beware. For that reason, whatever happens to the overall US market and the dollars, it might have a direct and indirect effect on the overall markets of the world. By that we can say that strong dollars as a position on the world will definitely yield poor pricing of the crude oil in the world As I mentioned early, when there is two common factors such a 'interest rate' decline and Crude oil decline we shall face the same problem we faced last year, since no significant stimulus for speculative finances are likely to exist.


To become an expert on the crisis of the Jimmy Carter era 78-82 era is to have written very seriously on the subjet and since I have not personal done any useful doctorate on the subject of 81/82 crisis of the world, I am not very convinced that enoug eyebrows would be raised on the approaching economic malaise of the world. But attention ought to be made on what happened to the world in 1981 and 82 when the interest rate was not in effect and when the US dollar was also a strong mold. A strong dollar mold seriously mean weak currencies of the oil rich economies, especially third world countries. The chain reaction of what happens when we have little or no effective interest rate in the world and short falls of crude oil price is that the world sankr into deep economic uncertainty. This was the case in 1982, at least in my current estimate. For a world still recovering from last yea's problems, there is need to be careful about staying to long on no interest rate and weak crude oil prices on the back of a strong dollar.



CAPM is called Capital price asset management. It concerns new ways of measuring what is happening in the world of asset pricing and value investing, which is significant in determining the range of business opportunity and inflation and may not take the role of other indicators in the market. If Robert H. Parks, Ph.D, Sam Nakagama, Gary Shilling are proved to be right, these co-incident indicators such as (1) income (2)production (3) sales (4) gross domestic product are not very great indicators, then we must not whole heartedly rely on what these things are telling us in today's inflationary tact, neither should too much emphasis be placed on the reversive index of Nikkon and Yen over the US bond market. More attention should be placed on the rest of the world, given especially the rise of the emerging markets in the world and what role they are likely to play in 2010 in the world-third world. In a sense, the support for strong dollars is helping for now, but the new year should look the part of increasing the U.S interest rate irrespective of the market data and we hang the hope that enough indicator can highlight the path of the raise and the very direction.


The fungible growth of US economy is a primary concern especially the very new and rigid invention of Government rules in financing, such rules may only serve to complicate the powers of Treasury which interfer with the market-an interference that is not due the Reserve. Yet attention on these very policy on the growth of the world market and its stability, should be the primary concern of the Obama's administration and the Federal Reserve.

Iroabuchi Onwuka

'Strong Dollar' paraire for G-7 Nations. Nigerians Beware

By
Iroabuchi Onwuka

The priority indicators, Ted Spread, Vix, Standard Deviation, Dollar Mold, Credit Spread, are giving away the facts that the economy is liquidity prone. Starting with signals on 'Standard Deviation' from last year's America GDP growth of 2% of a standard 4%. I shall argue that information from Futures and Hedge funds of 'June - September' this year suggesting a variance over 1% mean on 4% Standard deviation will show a cash simulation of 0.7 on wend, good for brokers/sellers and other fund of fund managers but not so good for the Treasury. That will suggest that the level of Drawdown by Bond closing in September 09 as per cash for cash reflect added volatility over this 1.25% mean on a probably 2% SD, there is a tendency that the skewness and Kurtosis will agitate at a faster rate forcing at 0.5 and persistent 0.5-0.6, meaning that volatility is likely the case as we approach other tranches in the Bond market. This will also mean that we not only have a enough money in circulation but much of the money is not getting re-invested in the economy, the money is rather moving from one Bank to other banks with a tendency towards Long term priority bond. That attarck formation of US Treasury and the Fed is to astutely provide the spadework on Short terms through WIN projects and other anti-inflation measures more important of which is Strong Dollar Mold.

Strong dollars is Redline for weak currencies in third world economies. Nigerian Naira is gonna get hammered as we approach December. Nigerian Naira is seriously depended on what happens to US dollars. If the move is strong driven, it becomes a warning signal for Nigerians tomind their books on the varying impact of rising dollars. The spiral case of the November 08 incident and the indigent effort of the former Nigerian Chairman Charlse Soludo in buying into the Naira through excess deposit of the dollars will re-occur if the Nigerian bankers association and their reps do not heed the signs from the G-7 meeting. In a sense, they are saying that We (G-7) under the umbrella on the dollar will push ahead because we have to and because of the problems of receipt from American IOUs several years ago. The trouble of inflation on the Nigerian national economy is still too much to permit any sensible littoral from Sanusi, his attention ought to be placed on what must be done to prevent the sure collapse of the Nigerian unit of exchange. The dollars is getting the cubic measure for interest rate and evidently as we speak, the Feds may not have fully discovered the point of Cubic Pendulum versus Time to implement any form of interest rate.

Many market analyst however believe that .25 raise will put the US economy over 5% this year alone, which is inflationary to the curve and hunker on the long term priority of the country's Bond Market. That the US FEDs are still holding their fire on the interest rate should mean that a lot of currency jobs must in still catching attention and the position on what to do, both long and short and strong and weak, is expected to occupy the time of most clearing houses of the world. When such part of interest rate in the US begin to add, there is very little resistance under developed economies will do, especially oil countries like Nigeria which has so-far suffered with the crisis that evinced its weight in the world last year. The only probably hedge we can hope for Nigeria and Nigerians is the act of watching the FEDS versus the Euro, when the rate begins to up, there is a chance for weaker options, and right before the Bond tranches of Europe due next year, Nigerian Central Bank should escape with more borrowing from the FEDS and the very cheap Europe. I mean more borrowing on per rate as a Billion Euro, which the option of blocking the 7 biilion transfer of international currencies to Nigeria afterwards. In many ways, the lending option of Nigeria given the current drama in the world is to be placed around the Europe as a point and forward for Dollars. With Nigerian finance minister, Mansur Muktah, on monday stating that the Federal Government will inject 2 Billion dollars into the Nigeria economy, the bad news is entirely out on the long term given the baby weight of Nigerian Bond market as more signals the ministers could point to a more liquid inflationary Nigeria market.



This afternoon on the Bloomberg Radio, reports came in on the interview with Jean Claude Trishe, showing that he is in favor a strong dollar as we head to the end of year. The mainpoint of the report is that Jean Claude Trishe, Benanke, Geithner, are particularly in favor of strong dollars. Information reaching us through the world bank and IMF meeting in Istanbul is that the financial ministers are very particular about certain rule to be implemented by US government, a position that is entirely Treasury, 'executive' in rendition and proffers a war with the more 'legislative' Federal Reserves of the world. What we are however learning is that international banking and activity in terms of loans and loaning between banks may shown soem signs of life in them. If the signals are right, Europe should be favored. The weight of world responsibility is shifted on the dollars and might mean the weakness of Euro by default. Shortfalls on Euro could provide a path for re-payment of the bad loans made to these foreign third world countries, some of which were down right illegal. The problem is not the legality of the loans but on the impact that such funding or funds of funding (which is really the case) would have on these third world countries. Crude oil driven economies are most likely to get the first punch, oil opens the window for international businesses yet it closes them just as fast, as easily as oil prices are expected to drop by way of strong dollars and a weakening of Euro.

'Pure Play' in New York City

By

Sampson Iroabuchi Onwuka

Whatever definition is given to the idea of 'Pure Play' cannot truly apply in New York, the whole game of selling and dealing through the internet and doing business through social network has taken on added weight. The informed status recently enjoyed by the prevailing cultures in the state and sources for information may have taken on a whole new attitude in New York and in US in general, it is become more expensive in terms of security network that it provides. But you are not blame them, for how could anyone It is not just the Banks that operate in the dark that should concern the best of us, or companies that provide security information and apparatus while at this same time participate in public market that is should concern us. In the past, empires and kingdoms, peoples and languages were known for the buildings they mounted and houses they built, but these days, we can suggest that the sophistry of most economic societies can be reduced to pure play.


It is possible to assert that produce from farming and Manufacturing in general can not replaced by Information Systems which is not edible and ultimate only gratifies when a service is done, does not mean that Information System is anything but the future. Information Age and the consequent issue of Security associated with draws blood on the possibilities of a comprehensive Artificial Intelligence in future and the rise of the third person singular, that is, the other you that was never there, that is the Matrix evolving from a complex of your phone calls and your reaction to specific questions during conversation, your reaction to other personal and as well emotional experiences and from other immateriality such as range of products that you buy at any of your local stores. That is a record of your past as estimate of your probable future, all of which is already in use and therefore warranting a larger security framework.    


But that future is the cause of recent nightmare, and in that nightmare there is a day breaking that books which we read before and a product print and paper may now be read through a Kindle and other Note Books. In future, there will other forms of maintaining and reproducing information without the big hardware that come with it. What we are dealing with is the issue of face less communications, where as people in the past had building and human beings who signed in and out of business contracts, Pure Play involves people you don't see, buildings you don't see, and there is no where you can account for any transactions only through the so called voice on the phone. There is no argument that Pure Play does not have its limitations or that these limitations can not be overcome, but we dealing with accountable in a world of business people and busy businesses, where anyone working for the government or in the guise of similar outfits may likely convert sensitive information for very personal gains. The whole process may be argued from the point of Security, that internet and other safe-net spaces, may be the answer. Yet anyone who has dealt with Debt collectors and big companies such as Verizon where faceless operators respond to you through your own portfolio, will enjoin this experience that your personal security or other forms of personal information can be used against you by persons


That price of security is much more useful and it is very useful to a large extent in New York to invest in areas of private security that saw the last evolution of security services leading away from the 9/11. The facts of paying too much to sponsor internet business has also suffocated security businesses done on the ground in New York. The possibility that a place like Empire State Building in New York or New York library is seriously under surveillance, does not mean we have total control over the building at anytime, as such attention cannot be placed entirely on Internet security and security services that provide them. Yet attention seem nowadays to dwell on businesses involving internet as if these terrorist will communicate through the net and through automated signals. But that is just one major advantage. The advantage of doing business through the internet carry the greater danger of compromise in terms of security. In many ways, there is a necessity to let privates handle sensitive information but such access to information can at times prove disastrous especially when Information only passes through One major source and such sources decides the left and right of businesses or profits that connect with it.


Most people in New york who trade or who play in any major markets by any single stretch, are perhaps aware of General dynamics, some may have signed a few papers with Home land Security or other security based groups in NYC. In the light of the wire's fraud and the complication of automated quote lines leading to the 65 billion dollars scandal involving Bernie Madoff, there has been an increased tendency from the US to police the network of wire business. For people who tract 'new economy' this is essentially a difficult executive procedure since Global markets have shifted base from a down where the operational cost are likely covered by banks and their representative, to the people and including children who can make money right of the internet. Yet in New York City has taken on a whole new meaning and in fact attitude. We are beginning to hear the deep throat of too much policing from everything including Cameras in subways to whole run.


The security groups are going whole sale of whatever inspire fear and the more they calm, but this is getting very negative coverage. Beginning with the President Barrack Obama whose visit on 14th of September, a day supposedly intended to co-inside with fall of Lehman brothers to his visit to Albany yesterday, it is likely that the new apparatuses of surveillance and internet security run private may create more problems in future than solve. Above all, if the issue of perpetual surveillance is to be taken literary, then a gap or hole in information exist for what happened with Madoff and his scandal, since we know that until he was discovered and charged, he was called the Chairman of NASDAQ. NASDAQ is the head-chief of information technology and security pure play, there is further gap to be explored on the movement of National Intelligence investment on private security companies, some of which were forged and what swelled the portfolio of Bernard Madoff. His accomplish ought to European who dominated that market at some point and 'motley', English who weaved in and out of US intelligence market. Further holes can be dug into the impact of connecting American stock market and British in 2004/5.


This theme of being under perpetual surveillance, and the consequences of it all is well treated in a new book 'The Secret World of outsourcing intelligence; Spies for Hire' by Tim Shorrock, published in 2008. The book not only highlighted the difficulty involved in coping with the new age information technology, it goes the distance in letting us see the contagious necessity of making deals with private security experts in United States. In New York following the debacle of the business. In his remonstrance, he scored on the fact that Q-Tel ( an alpha source by forge as in Q for Quelle as it is German for 'source') of George Tenet era, intended as venture Capital Fund for CIA, had done better than most in telling off the direction of Government spending in military information technology and as such denied others the opportunity of running on even keel with open market and common market funding. Q-Tel may have yielded the beauty of 3-D Google Earth as part of the deal with Google and Keyhole inc. based in California. The problem with such venture capital funds like Q-Tel is that it involves investment bankers which raises eyebrows concerning the 'no risk' business incentive in a Capital market industry where 'Talent' for risk management is an instrument for praise. But then there are companies that have done their own bit in signing up with the government of such matters as bid-on information technology. These groups will wholly include, BAE systems, L-3/Titan, EDS, General Dynamics, Man Tech, Lockheed Martin, Microsoft, Nortel, Northrop Grumman/Essex, Raytheon, and NCI.

Concerning of the state on what happened and why it happened during 9/11 may been complicated by the wholesale failure of once popular prototype for wire tapping called SIGINT, which at some point the superior tapping and wiring endeavor. SIGINT was believed to have failed in 24th of January' 2000 and after the incident of 9/11, it was the CIA who began to push the move for a change with Fiber Optics.Tom Shorrock highlighted the compromising structure of the wholesale intelligence society of USA, especially data mining, which he vaguely but did not fully demonstrate could predicate on who wins in many business circles and who rules the war of financial market place. That data miners were selling information based on fear seem relatively common knowledge, but much less known is the area were outsourcing was a big deal such as the ones that follow SIGINT debacle in 2000, the relationship between buying information gadgets and making one, moved from 17-20% to 80/83% within a matter of years. Shorrock mentioned that a time it was an conscionable compromise on military Intel which had to be tolerated, but deeper still, the whole deal has become a tool for private ends since public freedom was essentially denied.

The issue concerning the 9/11/01 and other security failures and failures of integrated systems in New York leading to the two recent air plane crashes, lead us to understand that as far matters of security, interns of integrated systems are concerned, the solutions for it is still pressing. Yet, the matter involving security in New York is no longer so much the show of power and stability as it is now, the fear of being under perpetual vigilance as new provisions are signed into law permitting Cameras to overhang in NY subways. There are all kinds of internet and security based businesses in New York, especially security driven which has taken on the added muscle of charter, following the incident of 9/11/01 in New York. In the '9/11 Commission' initiated at the behest of the last president, George Bush, revealed lapses in judgement of the Central Intelligence Agency (CIA) under George Tenet, the whole survey tended to suggest that CIA was not always in charge of the situation, sort faulted the leadership community for the poverty of information and all else.


Whether or not the man in charge at the time of the incident had principal hand in determining the shortfalls of information data is not noted, but what seem clear was the rise of security information outfits and surveillance technology much of which where privately owned and operated and gradually yielded grounds to the state beginning with the incidents of 9/11. From Q-Tel initiated by George Tenet himself following the debacle of SIGINT, to Donald Rumsfeld's insisting on incorporating privately owned internet security systems into the US military, a whole new world of security information 'Pure Play' was born and since then Google, Yahoo, Aol, the Apollo, the flag Atlantic, and Global Crossing, have signed a useful parity in security surveillance with more Government security intelligence. Spying on your neighbor may be a world we only hear about, but under this signatories, it is impossible to deny that spying on your fellow traders with the advantage of invisible cameras as large as the Armory pole has become much more closer and much more compromising in nature.

The problem is not with those who ask for the information, the problem is with those who wind up with direct non-public access to information that can make or mar competition in any industry. That a social network like Facebook, Twitter, Linked, Inter-business, might face technical problems does not necessarily mean it has weaknesses in the information technology, rather it could mean that competitors with some degree of leverage of relevant information and access might seek extortion from the said group or face a technical glitch. The rest of the world would never know what happened and how it happened. If we pay thousands of Dollars per screen a month to have a market Data network from Fisk, CNN, Factiva, Reuters and Bloomberg, you can imagine what the price would be for major corporations seeking interest in an financial areas where private owned by publicly traded companies are monopoly, there is no degree to what can happen to these small business. The whole idea bothers on malpractice.

Within a matter of years after the acquisition of private security companies market reactions to the whole incident seem to have taken roots in stock markets. Such that private ownership and preferred stocks will tend to operate against public market capitalization. In the book we learn of this trend from the figure " that capitalization figure, derived from a company's stock price per share and once more, the author included the issue at hand using tracking group that might also include A.G Edwards defense banking group "that Capitalization figure, derived from a company stock price per share multiplied by the total number of shares outstanding, is generally a good indication of investor interest in a specific industry. Collectively, the value of the intelligence pure plays exploded in the first five years of the war on terror, from $980.5 million in 2001 to $8.3 Billion in 2006. You are looking at 900% - increase"

Given the formal nature of capitalist society as prone to advantage, the paradox of netting cash through information has taken on a whole meaning, becoming a vise in common markets. In this we mean that the way front process of letting competitors participate on certain necessary 'Pure Play' information where only a group has useful access to information might be challenging, especially when it involves the smaller companies who are likely to compete with bigger companies in any given world market for security contracts and market opportunity. There is a problem of legitimacy involved in marketing under the wire, but non of immediate practice is set in such as to oppose any thing we find in FDIC rules and regulation, and more than anything too much regulation could just kill the Market. If private investors as well huge financial institutions can be taken seriously, they are likely to participate in an open source automated quote lines, but for IPOs arriving on the board with venerable software and little primary source, there is a case to be made that 'filling orders' and quotes on line which brokers nowadays do, can be intercepted by much primary sources from higher levels and then then mantra of rerouting basic IP routes. This measure so to speak is re-gauged in such a way that online primary interceptors or level III and IV trading institution much of it is NASDAQ will likely file a forward ahead of intercepted filling orders, and by merely pressing on a button leading to the sale or hold level I and II position. In such circumstances, the bigger coverage will now set up their calls based on information that is available to them via direct access, and can hold until volume builds within seconds of trading window before the 10-15 seconds automated quote lines make the board and 'in-in' less competitive direct access 'Pure Play' will simply bring down a whole economy.


Lately in New york, the whole fear of that what happened in New York with the fall of Lehman might repeat itself in years to come, yet the problem with Lehman like many other derivative financial companies and institution is that people who were supposed to monitor them were also involved in making the . The question on e need o ask is why did Madorf succeed so easily, the fat remains that he could not succeeded without others and more than anything, he could have only succeed in a system that is in his own hands. The other issue which take the front line is the one concerning election and electioneering campaigns. For instance in New york, there is nothing any opponent can do to raise awareness on the shortfalls of the current incumbent of New York without first encountering the obstacles of public view, fed on by local news and television with primary attachment to primary sources and prodded by primary information source and the restriction to general access. After the visit of the President to New York, it has been my personal concern that Americans sense of security, especially its bend towards private security is signaling a process that could get out of hand.




Since the advent of 'New Economy' stocks, these has been a less dependency on Banks for credit. The dependency ratio on privates to banks and credit spread in the past The federal reserve considering the 'frisson effect' had done its bit to uplift the credit power of most average business men and women through other financial institutions. That action from the Feds had been intended to galvanized the so called 'New Economy' due to the benefits of the credit companies and hedge funds relying on new and improved businesses to do better. With the era of corporate sponsorship through the state and financing through sensitive intelligence areas of the state, we gradually be. Some of the chattered internet companies are still likely to open a can of threat alerts, that could force a market reaction for and against security. This can be done without due pronoun to the success of the financial markets, and can still be done with or without reference to the nature of the threat nor the justifications for it. Why this spells disaster for private Americans cannot be fully grasp accept in the context of New York City. More that these facts of security compromises of private Americans, we can have a grim picture of what these security companies can do with businesses we own and operate in the United States.


The problem is that many people in New York have probably never heard some other companies exclusively dealing on surveillance, and never perhaps heard of Aerospace, nor have have been privy to the fact that their computer encryption like the ones manufactured by Dell, IBM and Microsoft (the last to sign on), would provide the government all the information they need about the individual, not only that, your bank's information, technical particulars and activity can be at the easy beck and call of the guiding governmental security service provider without your express consent. if these things are ordinarily monitored by the Government these no problem, unless no we are dealing with the issue of safe net and matters arising from very responsible individuals hiding under the canopy of Homeland security. It is well known that actions of all sorts are monitored by government-backed-reconnaissance security web-nets, there is nothing new about this and nothing wrong in such attempts. The minor stick in the whole evolutionary ideas of using information technology to manage and monitor information technology, is that it spells security compromise for non-secuitors, and on certain sensitive information about individuals can reach the ranks of those who use for their own personal gains.


With internet based business which New york once provided a haven, the industry once useful for directing the source of business connection, it is possible to blank an opponent out of competition with barrage and barrage of information, many of which is negative. In a setting like New york, companies doing very well in the private, seeking a form of business on the public protection and national security will have to levitate towards those in power.When you however normalize the habit of mounting suspicion, it becomes in due time, perpetuated. The relationship between the intelligence committee and the friends of the committee would welcome a new world of intelligence, but the compromise the rights of citizens following the 'Patriotic Act' of George Bush will only bring in a new world of information exploitation...