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Enten Controversy
The Enten controversy involved Kazutsugi Nami, the chairman of Tokyo bedding supplier Ladies & Gentlemen (L&G), arrested by Japanese police on 5 February 2009. He and twenty-one other executives were accused of defrauding 37,000 investors of at least 126 billion yen (approximately US$1.4 billion) between 2001 and 2009. Nami is the inventor of a quasi-currency, "Enten", which he used to attract investors. Some sources put the total amount of the money involved as high as 226 billion yen, which would make it, if proven, to be the biggest investment fraud in Japanese history since Toyota Shoji, an investment group, defrauded investors of 202.5 billion yen in the late '80s. In order to gain credibility and popularity, Nami's company used famous enka singers such as Takashi Hosokawa in their advertisements. In May 2008, Hosokawa was accused by the Japanese civil court of participating, but he insisted that he was not responsible for the content of th ... [...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] |
Virtual Economy
A virtual economy (or sometimes synthetic economy) is an emergence, emergent economy existing in a virtual world, usually exchanging virtual goods in the context of an online game, particularly in massively multiplayer online games (MMOs). People enter these virtual economies for recreation and entertainment rather than necessity, which means that virtual economies lack the aspects of a real economy that are not considered to be "fun" (for instance, avatars in a virtual economy often do not need to buy food in order to survive, and usually do not have any biological needs at all). However, some people do interact with virtual economies for "real" economic benefit. Despite primarily dealing with in-game currencies, this term also encompasses the selling of virtual currency for real money, in what is sometimes called "open centralised marketplaces". Overview Virtual economies are observed in Multi-user dungeon, MUDs and massively multiplayer online role-playing games (MMORPGs). ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Regulation
Financial regulation is a broad set of policies that apply to the financial sector in most jurisdictions, justified by two main features of finance: systemic risk, which implies that the failure of financial firms involves public interest considerations; and information asymmetry, which justifies curbs on freedom of contract in selected areas of financial services, particularly those that involve retail clients and/or principal–agent problems. An integral part of financial regulation is the supervision of designated financial firms and markets by specialized authorities such as securities commissions and bank supervision, bank supervisors. In some jurisdictions, certain aspects of financial supervision are delegated to self-regulatory organizations. Financial regulation forms one of three legal categories which constitutes the content of financial law, the other two being market practices and case law. History In the early modern period, the Dutch were the pioneers in finan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2009 In Japan
Events in the year 2009 in Japan. Incumbents * Emperor of Japan, Emperor – Akihito * Prime Minister of Japan, Prime Minister – Taro Aso (Liberal Democratic Party (Japan), Liberal Democratic Party–Fukuoka) until September 16, Yukio Hatoyama (Democratic Party of Japan, Democratic Party–Hokkaidō) * Chief Cabinet Secretary: Takeo Kawamura (politician), Takeo Kawamura (L–Yamaguchi) until September 16, Hirofumi Hirano (D–Ōsaka) * Chief Justice of the Supreme Court of Japan, Supreme Court: Hironobu Takesaki * President of the House of Representatives of Japan, House of Representatives: Yōhei Kōno (L–Kanagawa) until July 21, Takahiro Yokomichi (D–Hokkaidō) from September 16 * President of the House of Councillors: Satsuki Eda (D–Okayama) * Diet of Japan, Diet sessions: 171st (regular, January 5 to July 21), 172nd (special, September 16 to September 19), 173rd (extraordinary, October 26 to December 4) Governors *List of governors of Aichi Prefecture, Aichi Prefect ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cryptocurrency
A cryptocurrency (colloquially crypto) is a digital currency designed to work through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. Individual coin ownership records are stored in a digital ledger or blockchain, which is a computerized database that uses a consensus mechanism to secure transaction records, control the creation of additional coins, and verify the transfer of coin ownership. The two most common consensus mechanisms are proof of work and proof of stake. Despite the name, which has come to describe many of the fungible blockchain tokens that have been created, cryptocurrencies are not considered to be currencies in the traditional sense, and varying legal treatments have been applied to them in various jurisdictions, including classification as commodities, securities, and currencies. Cryptocurrencies are generally viewed as a distinct asset class in practice. The first cryptocu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bitcoin
Bitcoin (abbreviation: BTC; Currency symbol, sign: ₿) is the first Decentralized application, decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 when an unknown entity published a white paper under the pseudonym of Satoshi Nakamoto. Use of bitcoin as a currency began in 2009, with the release of its open-source software, open-source implementation. In 2021, Bitcoin in El Salvador, El Salvador adopted it as legal tender. It is mostly seen as an investment and has been described by some scholars as an economic bubble. As bitcoin is pseudonymous, Cryptocurrency and crime, its use by criminals has attracted the attention of regulators, leading to Legality of cryptocurrency by country or territory, its ban by several countries . Bitcoin works through the collaboration of computers, each of which acts as a Node (networking), node in the peer-to-peer bitcoin network. Each node maintains an independent copy of a public distributed ledger of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-fungible Token
A non-fungible token (NFT) is a unique digital identifier that is recorded on a blockchain and is used to certify ownership and authenticity. It cannot be copied, substituted, or subdivided. The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded. Initially pitched as a new class of investment asset, by September 2023, one report claimed that over 95% of NFT collections had zero monetary value. NFTs can be created by anybody and require little or no coding skill to create. NFTs typically contain references to digital files such as artworks, photos, videos, and audio. Because NFTs are uniquely identifiable, they differ from cryptocurrencies, which are fungible (hence the name non-fungible token). Proponents claim that NFTs provide a public certificate of authenticity or proof of ownership, but the legal rights conveyed by an NFT can be uncertain. The ownership of an NFT as defined by the blockchain has no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Australian
''The Australian'', with its Saturday edition ''The Weekend Australian'', is a broadsheet daily newspaper published by News Corp Australia since 14 July 1964. As the only Australian daily newspaper distributed nationally, its readership of both print and online editions was 2,394,000. Its editorial line has been self-described over time as centre-right. Mitchell, Chris (9 March 2006)The Media Report. Australian Broadcasting Company. Parent companies ''The Australian'' is published by News Corp Australia, an asset of News Corp, which also owns the sole daily newspapers in Brisbane, Adelaide, Hobart, and Darwin, and the most circulated metropolitan daily newspapers in Sydney and Melbourne. News Corp's chairman and founder is Rupert Murdoch. ''The Australian'' integrates content from overseas newspapers owned by News Corp Australia's international parent News Corp, including ''The Wall Street Journal'' and ''The Times'' of London. History The first edition of ''Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agence France Presse
Agence France-Presse (; AFP) is a French international news agency headquartered in Paris, France. Founded in 1835 as Havas, it is the world's oldest news agency. With 2,400 employees of 100 nationalities, AFP has an editorial presence in 260 cities across 150 countries. Its main regional headquarters are based in Nicosia, Montevideo, Hong Kong and Washington, D.C. AFP publishes stories, videos, photos and graphics in French, English, Arabic, Portuguese, Spanish, and German. Two-thirds of its turnover comes from its own commercial activities, with the remaining one-third being provided by the French government (amounting to 113.3 million euros in 2022) as compensation for carrying out its mission of general interest. In December 2024, AFP was ranked as the 27th most visited news site in the world, with over 105 million monthly readers. History Agence France-Presse has its origins in the Agence Havas, founded in 1835 in Paris by Charles-Louis Havas, making it the world's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cult
Cults are social groups which have unusual, and often extreme, religious, spiritual, or philosophical beliefs and rituals. Extreme devotion to a particular person, object, or goal is another characteristic often ascribed to cults. The term has different, and sometimes divergent or pejorative, definitions both in popular culture and academia and has been an ongoing source of contention among scholars across several fields of study. Beginning in the 1930s, new religious movements became an object of sociological study within the context of the study of religious behavior. Since the 1940s, the Christian countercult movement has opposed some sects and new religious movements, labeling them cults because of their unorthodox beliefs. Since the 1970s, the secular anti-cult movement has opposed certain groups, which they call cults, accusing them of practicing brainwashing. Groups labelled cults are found around the world and range in size from small localized groups to some in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Sydney Morning Herald
''The Sydney Morning Herald'' (''SMH'') is a daily Tabloid (newspaper format), tabloid newspaper published in Sydney, Australia, and owned by Nine Entertainment. Founded in 1831 as the ''Sydney Herald'', the ''Herald'' is the oldest continuously published newspaper in Australia and claims to be the most widely read masthead in the country. It is considered a newspaper of record for Australia. The newspaper is published in Compact (newspaper), compact print form from Monday to Saturday as ''The Sydney Morning Herald'' and on Sunday as its sister newspaper, ''The Sun-Herald'' and digitally as an Website, online site and Mobile app, app, seven days a week. The print edition of ''The Sydney Morning Herald'' is available for purchase from many retail outlets throughout the Sydney metropolitan area, most parts of regional New South Wales, the Australian Capital Territory and South East Queensland. Overview ''The Sydney Morning Herald'' publishes a variety of supplements, including ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rate Of Return
In finance, return is a profit on an investment. It comprises any change in value of the investment, and/or cash flows (or securities, or other investments) which the investor receives from that investment over a specified time period, such as interest payments, coupons, cash dividends and stock dividends. It may be measured either in absolute terms (e.g., dollars) or as a percentage of the amount invested. The latter is also called the holding period return. A loss instead of a profit is described as a '' negative return'', assuming the amount invested is greater than zero. To compare returns over time periods of different lengths on an equal basis, it is useful to convert each return into a return over a period of time of a standard length. The result of the conversion is called the rate of return. Typically, the period of time is a year, in which case the rate of return is also called the annualized return, and the conversion process, described below, is called ''annualiz ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
