What is the ‘Economic Security’?
Security: the condition of being protected against danger or loss.
Economic Security: Concept ofsecurity is extended ineconomic.
Threat of ES: 1 changing global situation
2. economical interdependence
3. the government’s ability of countermeasure became weak.
Enron
At that time, a great energy
inthe early 1990s to $101 billion in 2000, ranking it seventh on the Fortune 500.
In 2001, however, Enron eventually faced the ending of its glorious days. On October 16, Enron reported its first quarterly loss in 4 years, taking a charge against earnings of $1 billion for poorly performing businesses. On November 8, thecompany announced in a Securities and Exchange Commission (SEC) filing tha
the CEOs ofthe Big Five focused largely on improving the rules of accountancy. Industry leader James S. Turley, chairman of Ernst & Young, says that rather than an audit failure, Enron "at its core was a business failure."
2.2. Enforcement of Sarbanes-Oxley Act
The Sarbanes-Oxley Act, adopted by the US Congress in 2002, is the most significant measure of federal securities and corporate law
II. What Are Credit Derivatives?
Derivatives are defined as the exchange or contract which has economic values deriving from the reference assets or index. According to their types, there are overall forward, future, option, and swap. Derivatives are the financial derivatives, which are enabled to trade inthe market while consisting of separating the credit risk only to the holder of basic p
the means with which employers may react to workers inthe private sector that create labor unions, engage in collective bargaining, and take part in strikes
Social Security Act (1935)
An attempt to limit what were
seen as dangers inthe modern
American life (old age, poverty,
unemployment, and the burdens
of widows and fatherless children)
“This (JRB37) was a thinly veiled atte