Tibet’s government and the Chinese government have been dealing with political issues ever since the beginning of the independence of the Republic of China. Tibet, a province of China, tried to claim its independence a few times. It all comes down to religion. Tibet, where many of the monks live, doesn’t get along with the rest of the mainland.
The Olympics are coming in about 4 months. All the Chinese government wants is peace and quite and positive publicity. Unfortunately, the Chinese government has been sending troops to Lhasa, Tibet to crack down on the protesters. The secret forces were also sent to SiChuan, YunNan and GanSu provinces to arrest the protestors there. Some rioters have been wounded and shot by the police according to the Chinese news agencies. The Chinese government has forced out all the foreign journalists in Tibet around the middle of March of 2008.
The U.S. government has asked China to use restraint against the protestors. Secretary of State Condoleezza Rice urged the Chinese party to talk to the spiritual leader Dalai Lama. The Chinese President agreed to talk to Dalai Lama under the condition that he not support Tibet’s independence. The phone call is still being scheduled.
This is a challenging subject for the Chinese government to handle, especially at this moment when the entire world is watching. Hopefully, there will be a welcoming environment before the Olympics start.
http://voanews.com/english/2008-03-20-voa79.cfm
http://voanews.com/english/2008-03-20-voa67.cfm
Sunday, March 23, 2008
Morgan Stanley reported $1.53 billion in profit
Morgan Stanley, one of the biggest investment banks has its first quarter profit of $1.53 billion after dividend. It was better than Wall Street projected. Morgan Stanley did much better than other investment banks for the past three months.
Many investment banks have suffered because of the credit crisis. Last Sunday, Bear Stern Cos agreed to sell to JPMorgan Chase at a bargain price. Morgan Stanley has better managed its liquidity problems. Morgan Stanley hasn’t bought any stock back this fiscal year. Its share price raises $3.57 after Tuesday’s rally. Its security business including investment banking and trading had revenue of $6.2 billion.
Overall, Morgan Stanley is doing better than expected. However, there are a few signs that show its vulnerability. First of all, $1.53 billion profit was much lower compared to profit this quarter last year. Last year, it had a profit of $2.66 billion. Secondly, Morgan Stanley had reported a write-down of $2.3 billion-including $1.2 billion from mortgage-backed securities and $1.1 billion from loans.
Experts say that we will still have some more challenging times ahead. How long, we don’t know yet. The market will be volatile for the near future. However, for now, investors can take a short break since major investment banks have shown its capability of managing its funds during a depressed market condition. Consumers’ confidence toward the economy is still low. The future is going to be very interesting for all of us.
http://www.myfoxatlanta.com/myfox/pages/Business/Detail?contentId=6075397&version=1&locale=EN-US&layoutCode=TSTY&pageId=4.1.1
http://biz.yahoo.com/ap/080319/earns_morgan_stanley.html
Many investment banks have suffered because of the credit crisis. Last Sunday, Bear Stern Cos agreed to sell to JPMorgan Chase at a bargain price. Morgan Stanley has better managed its liquidity problems. Morgan Stanley hasn’t bought any stock back this fiscal year. Its share price raises $3.57 after Tuesday’s rally. Its security business including investment banking and trading had revenue of $6.2 billion.
Overall, Morgan Stanley is doing better than expected. However, there are a few signs that show its vulnerability. First of all, $1.53 billion profit was much lower compared to profit this quarter last year. Last year, it had a profit of $2.66 billion. Secondly, Morgan Stanley had reported a write-down of $2.3 billion-including $1.2 billion from mortgage-backed securities and $1.1 billion from loans.
Experts say that we will still have some more challenging times ahead. How long, we don’t know yet. The market will be volatile for the near future. However, for now, investors can take a short break since major investment banks have shown its capability of managing its funds during a depressed market condition. Consumers’ confidence toward the economy is still low. The future is going to be very interesting for all of us.
http://www.myfoxatlanta.com/myfox/pages/Business/Detail?contentId=6075397&version=1&locale=EN-US&layoutCode=TSTY&pageId=4.1.1
http://biz.yahoo.com/ap/080319/earns_morgan_stanley.html
Comment on Joseph Fong’s “Moral Hazard”
I read Joseph Fong’s “Moral Hazard” today. I agree with him totally. People tend to take advantage of their insurance coverage. Say for example, two friends run into each other, on purpose, in order to make a claim against the auto insurance coverage. This is a typical example of moral hazard. Insurance companies have all kind of regulations and restrictions to avoid moral hazard.
When I read about the chemicals found in the city’s drinking water, I was very scared and disappointed to hear it, especially when the prescription byproduct was discovered in our drinking water. I immediately stopped drinking water from the public water system and brought my own filtered water wherever I go. I don’t think the city intentionally leaves the chemicals in the drinking water. The reason why I don’t think so is because the city is not going to benefit from a bad job. States that have problems with their drinking water are simply doing a terrible and careless job.
I think the government should get involved in testing the city’s water. Just like the meat in the grocery store is tested before it is served to the public. The Government should randomly select the city’s water to test its purity. A penalty should also be set up if the purity doesn’t meet a specific standard. More media exposure will also create more public attention and awareness of the issue.
When I read about the chemicals found in the city’s drinking water, I was very scared and disappointed to hear it, especially when the prescription byproduct was discovered in our drinking water. I immediately stopped drinking water from the public water system and brought my own filtered water wherever I go. I don’t think the city intentionally leaves the chemicals in the drinking water. The reason why I don’t think so is because the city is not going to benefit from a bad job. States that have problems with their drinking water are simply doing a terrible and careless job.
I think the government should get involved in testing the city’s water. Just like the meat in the grocery store is tested before it is served to the public. The Government should randomly select the city’s water to test its purity. A penalty should also be set up if the purity doesn’t meet a specific standard. More media exposure will also create more public attention and awareness of the issue.
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