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Aladdin (BlackRock)
Aladdin (Asset, Liability and Debt and Derivative Investment Network) is an electronic system built by BlackRock Solutions, the risk management division of the largest investment management corporation, BlackRock, BlackRock, Inc. In 2013, it handled about $11 trillion in assets (including BlackRock's $4.1 trillion assets), which was about 7% of the world's financial assets, and kept track of about 30,000 investment portfolios. As of 2020, Aladdin managed $21.6 trillion in assets. Senior Managing Director Sudhir Nair is the current Global Head of BlackRock's Aladdin program. Use case One of BlackRock's four data centers where Aladdin is operated is located in Wenatchee, Washington, Wenatchee, Washington (state), Washington state. The network in Wenatchee consists of around 6000 computers. The software uses these computers to analyze global economic data, stock market prices and numerous other economic factors. For example, sudden changes in government, weather conditions or pos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aladdin BlackRock Logo 01
Aladdin ( ; , , Aarne–Thompson–Uther Index, ATU 561, 'Aladdin') is a Middle-Eastern Oral literature, folk tale. It is one of the best-known tales associated with ''One Thousand and One Nights'' (often known in English language, English as ''The Arabian Nights''), despite not being part of the original text; it was added by the Frenchman Antoine Galland, based on a folk tale that he heard from the Syrian storyteller Hanna Diyab.Razzaque (2017) Sources Known along with Ali Baba as one of the "orphan tales", the story was not part of the original ''Nights'' collection and has no authentic Arabic textual source, but was incorporated into the book ''Les mille et une nuits'' by its French language, French translator, Antoine Galland. John Payne (poet), John Payne quotes passages from Galland's unpublished diary recording Galland's encounter with a Maronites, Maronite storyteller from Aleppo, Hanna Diyab. According to Galland's diary, he met with Hanna, who had travelled from Al ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Workstation
A workstation is a special computer designed for technical or computational science, scientific applications. Intended primarily to be used by a single user, they are commonly connected to a local area network and run multi-user operating systems. The term ''workstation'' has been used loosely to refer to everything from a mainframe computer terminal to a Personal computer, PC connected to a Computer network, network, but the most common form refers to the class of hardware offered by several current and defunct companies such as Sun Microsystems, Silicon Graphics, Apollo Computer, Digital Equipment Corporation, DEC, HP Inc., HP, NeXT, and IBM which powered the 3D computer graphics revolution of the late 1990s. Workstations formerly offered higher performance than mainstream personal computers, especially in Central processing unit, CPU, Graphics processing unit, graphics, memory, and multitasking. Workstations are optimized for the Visualization (graphics), visualization and ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American International Group
American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. As of 2023, AIG employed 25,200 people. The company operates through three core businesses: general insurance, life & retirement, and a standalone technology-enabled subsidiary. General Insurance includes Commercial, Personal Insurance, U.S. and International field operations. Life & Retirement includes Group Retirement, Individual Retirement, Life, and Institutional Markets. AIG is the title sponsor of the AIG Women's Open golf tournament. In 2023, for the sixth consecutive year, DiversityInc named AIG among the Top 50 Companies for Diversity list. AIG's corporate headquarters are in New York City and the company also has offices around the world. AIG serves 87% of the Fortune Global 500 and 83% of the Forbes 2000. AIG was ranked 60th on the 2018 Fortune 500 list. According to the 2016 Forbes Global 2000 list, AIG ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bear Stearns
The Bear Stearns Companies, Inc. was an American investment bank, securities trading, and brokerage firm that failed in 2008 during the 2008 financial crisis and the Great Recession. After its closure it was subsequently sold to JPMorgan Chase. The company's main business areas before its failure were capital markets, investment banking, wealth management, and global clearing services, and it was heavily involved in the subprime mortgage crisis. In the years leading up to the failure, Bear Stearns was heavily involved in securitization and issued large amounts of asset-backed securities which were, in the case of mortgages, pioneered by Lewis Ranieri, "the father of mortgage securities." As investor losses mounted in those markets in 2006 and 2007, the company actually increased its exposure, especially to the mortgage-backed assets that were central to the subprime mortgage crisis. In March 2008, the Federal Reserve Bank of New York provided an emergency loan to try ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US Federal Reserve
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. Although an instrument of the U.S. government, the Federal Reserve System considers itself "an independent central bank because its monetary policy decisions do not have to be approved by the president or by anyone else in the executive or legislative branches of government, it does not receive funding appropriated by Congress, and the terms of the members of the board of governors span multiple presidential and congressional terms." Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibili ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Toxic Asset
A toxic asset is a financial asset that has fallen in value significantly and for which there is no longer a functioning market. Such assets cannot be sold at a price satisfactory to the holder. Because assets are offset against liabilities and frequently leveraged, this decline in price may be quite dangerous to the holder. The term became common during the 2008 financial crisis, in which toxic assets played a major role. When the market for toxic assets ceases to function, it is described as "frozen". Markets for some toxic assets froze in 2007, and the problem grew much worse in the second half of 2008. Several factors contributed to the freezing of toxic asset markets. The value of the assets was very sensitive to economic conditions, and increased uncertainty in these conditions made it difficult to estimate the value of the assets. Banks and other major financial institutions were unwilling to sell the assets at significantly reduced prices, since lower prices would force them ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US Government
The Federal Government of the United States of America (U.S. federal government or U.S. government) is the national government of the United States. The U.S. federal government is composed of three distinct branches: legislative, executive, and judicial. Powers of these three branches are defined and vested by the U.S. Constitution, which has been in continuous effect since May 4, 1789. The powers and duties of these branches are further defined by Acts of Congress, including the creation of executive departments and courts subordinate to the U.S. Supreme Court. In the federal division of power, the federal government shares sovereignty with each of the 50 states in their respective territories. U.S. law recognizes Indigenous tribes as possessing sovereign powers, while being subject to federal jurisdiction. Naming The full name of the republic is the "United States of America". No other name appears in the Constitution, and this is the name that appears on mon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paine Webber
PaineWebber & Co. was an American investment bank and stock brokerage firm that was acquired by the Swiss bank UBS in 2000. The company was founded in 1880 in Boston, Massachusetts, by William A. Paine and Wallace G. Webber. Operating with two employees, they leased premises at 48 Congress Street in May 1881. The company was renamed Paine, Webber & Co. when Charles Hamilton Paine became a partner. Members of the Boston Stock Exchange, in 1890 the company acquired a seat on the New York Stock Exchange. Wallace G. Webber retired after the business weathered a major financial crisis of 1893. History Founding and early history In May 1881, William Alfred (W.A.) Paine (with a loan from his father) and Wallace G. Webber founded Paine & Webber as a brokerage firm in Boston, Massachusetts with a seat on the Boston Stock Exchange. With the admission of Charles H. Paine to the partnership, the firm was renamed Paine, Webber & Co. The firm would purchase a seat on the New York Stock ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kidder, Peabody & Company
Kidder, Peabody & Co. was an American securities firm, established in Massachusetts in 1865. The firm's operations included investment banking, brokerage, and trading. The firm was sold to General Electric in 1986. Following heavy losses, it was subsequently sold to Paine Webber in 1994. After the acquisition by PaineWebber, the Kidder Peabody name was dropped, ending the firm's 130-year presence on Wall Street. Most of what was once Kidder Peabody is now part of UBS AG, which acquired PaineWebber in November 2000. History Early history Kidder, Peabody & Co. was established in April 1865 by Henry P. Kidder, Francis H. Peabody, and Oliver W. Peabody. The firm was formed via reorganization of its predecessor company, J.E. Thayer & Brother, where the three founders had previously worked as clerks. Kidder Peabody acted as a commercial bank, investment bank, and merchant bank. The firm had an active securities business, dealing in treasury bonds and municipal bonds, as well as co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Electric
General Electric Company (GE) was an American Multinational corporation, multinational Conglomerate (company), conglomerate founded in 1892, incorporated in the New York (state), state of New York and headquartered in Boston. Over the years, the company had multiple divisions, including GE Aerospace, aerospace, GE Power, energy, GE HealthCare, healthcare, lighting, locomotives, appliances, and GE Capital, finance. In 2020, GE ranked among the Fortune 500, ''Fortune'' 500 as the 33rd largest firm in the United States by gross revenue. In 2023, the company was ranked 64th in the Forbes Global 2000, ''Forbes'' Global 2000. In 2011, GE ranked among the Fortune 20 as the 14th most profitable company, but later very severely underperformed the market (by about 75%) as its profitability collapsed. Two employees of GE—Irving Langmuir (1932) and Ivar Giaever (1973)—have been awarded the Nobel Prize. From 1986 until 2013, GE was the owner of the NBC television network through its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collateralized Mortgage Obligation
A collateralized mortgage obligation (CMO) is a type of complex debt security that repackages and directs the payments of principal and interest from a collateral pool to different types and maturities of securities, thereby meeting investor needs. CMOs were first created in 1983 by the investment banks Salomon Brothers and First Boston for the U.S. mortgage liquidity provider Freddie Mac. The Salomon Brothers team was led by Lewis Ranieri and the First Boston team by Laurence D. Fink, although Dexter Senft also later received an industry award for his contribution). Legally, a CMO is a debt security issued by an abstraction—a special purpose entity—and is not a debt owed by the institution creating and operating the entity. The entity is the legal owner of a set of mortgages, called a ''pool''. Investors in a CMO buy bonds issued by the entity, and they receive payments from the income generated by the mortgages according to a defined set of rules. With regard to term ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
