Tough days have past, but most of us are not as happy as expected.The lower and lower scores made me and the people like me dispointed.’How did this score come out?’The once highest GPA student in our class complained to me on the MSN.Well, I don’t know, really.The way Chinese professor giving grade to their undergraduate students varies from person to person.Take Our “kindest teacher” Prof.Lu as an example,he really gave a great surprise to most of us. After a seemingly very easy exam, our scores were commonly below 80.This teacher has talked with me about his son, who have to take the graduate program in Switzerland for some reasons I think probably is his GPA and then apply for the PHD in the USA. At that moment, I thought, what a kind teacher. He would be willing to give us an inflated score.

Everytime by the end of term I spent all my energy preparing for the exam, I felt happy as if I get the life of enrichment.The pure preparation of a subject urged us to get an understanding of the subject which our daily study could not provide.However, as for the exam, no matter what did you feel about the exam, easy or hard, the score usually came out as a surprise. Take my minor subject,database and computer network, as an example, I just spent one night before the exam reviewing them, and felt incoherent while taking the exam. However the result were much better than the subject like international finance and corperate finance,the ones I thought I had been quite familiar with and did well in the final exam. Not to mention the international investment, though I didn’t think this subject is necessary to open while we are majoring in the financial engineering.

In private, we student complained and scolded the teachers who are not popular and welcomed.Moreover,the unfair score which someone pointed out may lead to the harmness of the relationship.

That really didn’t make sense I think.The existence of strong opposing views were natural.That doesn’t mean the teachers were ‘sick’ or some students were just relying on tricks.In college, professors have the authority to give student remarks and scores. It is important to let them know you are excellent if you are not only want to learn the subject well but also want to get high scores. This controversial topic always lead to the disatisfacion of Chinese atmosphere.Nevertheless,we should know, that something are not only Chinese characteristics but also worldwide. Anyone who override his superior’s orders will be demoted or fired in a foreign company.Any professor who don’t know the student and only get a paper which are not that as what the teacher expected won’t give a high score.

We have to admit,getting a high score really proves the ability of one student.,about the subject or about other things.We also have to recognize that the score is not everything. The teacher knows that, the employer knows that, Everyone knows that. Take more time on study,take less time on some meaningless entertainment, we will grow up!

Obama,the 44th president of America,44,is going to spend the next four years in the White House.

Although Obama is the Democratic Party candidate, and has spoken of protectionism against China under the pressure of trade unions, we still believe he has faith in free trade, and as President will work to further open US markets, just as President Clinton did in the 1990s.

I believes America needs change, and Obama will be its best choice.

Soooooooooooooo~~~excittttttttttted~~~~

The Chinese central bank, claimed that in order to maintain the good momentum of economic growth, is deregulating the credit scale.It is doubtful whether it's a way to stimulate the economy or to relieve the inner political stress. 

The Chinese government, which is returning to attempts of stimulating economic growth through infrastructure investment and hosing market reform, now faces an unlooked for drop in tax revenue. This may restrict investment by government, while its measures in the housing market are not being greeted with much enthusiasm.

According to State Administration of Taxation (SAT) statistics, during the first three quarters of this year China's tax revenues increased by 24% over the same period of last year, but revenue growth began to decline in the second half of this year. According to a SAT official in China Taxation News, China's tax revenue growth will show a substantial decline in the fourth quarter.

The official said that tax revenues rose 33.8%, 27.7% and 10.6%, respectively, in the first, second and third quarter this year, 5.6% and 2.5% in August and September, and that the growth in September was the lowest monthly rise since 2003. Tax revenue growth in many key areas, industries and enterprises has actually declined, particularly in eastern areas, though gradually spreading to central and western regions.

Entering the fourth quarter, the seriousness of the situation is deepening because of continued slowing of the national economy. Lower external demand, industrial overcapacity, RMB appreciation, rising raw material and labor costs, and financing difficulties are plaguing processing enterprises, especially in exports, and the reduced value added and profits are having a direct impact on revenues.

With year on year economic growth falling below 10% for the first time in five years, the government has issued a series of infrastructure investment plans, and put off an earlier strategy of stimulating domestic demand to promote economic development.

After the 1997 Asian financial crisis, the government turned to large-scale government investment in highway and infrastructure construction to ensure economic growth. Since then, active fiscal policy has been the word for the last 10 years. In 1998 the government initiated reforms in the commercial real estate market, contributing to greater economic growth through the home-buying demand of urban residents.

Now, similar needs are occurring. Along with speeding the authorization of the high-speed railway project, the government is trying to stimulate home purchasing demand. But situations change after 10 years. The high prices in this year’s real estate market will make this a road to nowhere.

China's financial sector has been brewing up a tax reduction reform plan of nearly 200 billion yuan, but it has not been launched officially. SAT has issued an urgent circular calling for tax authorities around the country to strengthen tax collection and management in the fourth quarter to ensure full and timely tax remittal.

For the commercial banks,they are worried that the easing of lending standards will result in bad debt, so they are walking very carefully around central government policies. However,so far, policies released and relaxation of mortgage lending become a necessary measure to survive in such a "Survival of the Fittest" situation.

In my opinion, this policy is just the compromises both within the sector and between financial and other interest groups, and it will be an another snake in the grass for the future China.

Sept. 21 (Bloomberg) -- Goldman Sachs Group Inc. and Morgan Stanley will become banks regulated by the Federal Reserve, after tight credit markets forced Wall Street's two remaining independent investment banks to widen their sources of funding.

"The decision marks the end of Wall Street as we have known it,'' said William Isaac, a former chairman of the Federal Deposit Insurance Corp. ``It's really too bad, as our country has benefited greatly from the entrepreneurial risk takers on Wall Street.'

http://www.bloomberg.com/apps/news?pid=20601087&sid=aDhH0TDoeFaY&refer=home

Viewing this web page of bloomberg, makes me feel maybe everything happened is just a dream.A dream caused by a small error.

Bless the guys lost their job in Wall Street recently!

As an undergraduate major in financial engineering, it is neccessary to ,by any possible means, pursue truth and enrich our understanding of  financial market, business affairs and operations  we probably will engage in.

So many dynamite news are released daily these days. If your luck is out it's out, maybe this is it! The severe competition both bring advantagesand disadvantages always.This time however, a disaster maybe originally caused by such competition is unvoidable with several famous bank bankrupted.

Twenty years went past, the movie still is one of the quintessential snapshots of the financial scene in the United States and epitomizes the essence of capitalism, greed and materialism that was so prevalent in the 1980s. To watch this movie after having learned the terminology of financial instruments as a student was a liberating and exhilarating experience.,despite that some teminologys are still unclear like equality fund,if I heard it corretly.

Memorable quotes:

1)Gekko: When I get a hold of the son of a bitch who leaked this, I'm gonna tear his eyeballs out and I'm gonna suck his fucking skull!

2)Gekko: The richest one percent of this country owns half our country's wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It's bullshit. You got ninety percent of the American public out there with little or no net worth. I create nothing. I own.

3)Gekko: You're walking around blind without a cane, pal. A fool and his money are lucky enough to get together in the first place.

4)Bud: How much is enough? Gekko: It's not a question of enough, pal. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another.

5)Lou Mannheim: Man looks in the abyss, there's nothing staring back at him. At that moment, man finds his character. And that is what keeps him out of the abyss.

6)Gekko: I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

7)Gekko: Greed - you mark my words - will not only save Teldar Paper, but that other malfunctioning corporation called the U.S.A..

8)Gekko: You see that building? I bought that building ten years ago. My first real estate deal. Sold it two years later, made an $800,000 profit. It was better than sex. At the time I thought that was all the money in the world. Now it's a day's pay.

9)Gekko: The point is, ladies and gentlemen, that greed, for lack of a better word, is good. Greed is right. Greed works.

This summer, I was with ICBC Jiangxia Sub-Branch.The branch has multiple divisions and I was doing accounting work for companies and credit operations.The payoff model in bank is very different from the securities firm,Shenyin Wanguo, which I 've  been having practiced in, and more experience is the prerequisite as new joiners and interns can barely do any "job" but spending lots of time learning,about both hard skills and soft skills.

Of the whole summer, I had 1 week at trading desk working as an apprentice of an experienced accountant,Feng Chen,who kept telling me that every detail should be paid attention to while one was doing her job.I worked closely with her and did a whole day work myself under her guidence and supervision.

For the rest of the time,I learned a lot from the one of most important division of the branch,credit operations.There I followed the Deputy Managing Directors Qian,Divisional Manager Long,Deputy Divisional Manager Shuai,and other bank clerks in this division and got full exposure of the business they did,more than I've expected.

First of all is laws and regulations. Mr Shuai is also the legal adviser of the branch who let me read various documents.As a high profit,competitive business,it is most important to obey the rules to avoid potential risk,to confirm the safety of the whole bank.

Second is Product Knowledge. I had piles of books, training materials and real term sheets to study into. Knowledge of a wide scope of products was prerequisite of picking up the work.

Third is Market Knowledge.We had a every day's report meeting at 8:15am,conference all the Customer Manager reported the marketing situation encountered yesterday.

Fourth is Sales Skills.At first,I just supported the senior customer managers on sophisticated operations for clients such as information digging and document preparing.Learned sales skills and gained transactional experience by listening to their phone calls to clients (we have all the lines connected), audited their internal discussion. In the end, I began to develop my own clients and contact them on my own and complete the whole procedure what other senior customer managers did.

I once again sing the song"ranhouzenyang",what is my next plan then.I think It's time to quicken my pace and open my eyes for the next and most important year study.

Reading 'investment: a global perspective' made my eyes feel tired. It's time for a relax shower.

Chapter 4

Leadership involves a lifelong commitment to self-mastery, to holistic living, and to a life of balance. A leader should not only harmonize his different needs, but also be an enabling and empowering factor in harmonizing the different needs of his teammates so that they enjoy work, play, love, relationships, and spiritual growth so very essential for a sustained joy.

The federal housing rescue plan became official when President Bush signed a bill that provides for billions of dollars in assistance to troubled homeowners and pledges to back up government-sponsored mortgage firms Fannie Mae (nyse: FNM - news - people ) and Freddie Mac (nyse: FRE - news - people ). Meanwhile, the Federal Reserve announced several actions to improve the effectiveness of its liquidity facilities, most notably by extending its primary dealer credit facility and term securities lending facility through January 30, 2009.

The dollar was stronger, as the euro fell to $1.5533, from $1.5587 Tuesday, while the 10-year Treasury note was yielding 4.11%, up from 4.05%.So we can predict RMB will be put in a quandary.The pressure of inflation will increase though it is possible tomorrow to be black Thirsday.It is hard to find a way to control the situation, now.Good luck with China ,if one day we find a way to beat our greatest ,wise enermy.We will win everything we want.

Not sure whether it is my miscalculation or misunderstanding of concept,I spent nearly2 hours on trying on different software to exam my answers this Sunday,however,after the discusion on the forum,I am quite sure that the teacher did give us the fault result.No wonder I still haven't received his email yet.

Sometimes I should just put aside the confuse in front of me in order to get something others may be cramped by,not rely too much on the high-tech way or software.Caculate by hand,think about the operation principle of  each software,be aware of the slight difference between different software,or even different version of software.

Apologize for my carelessness of  forgeting to bring the  document of 'LSWMSC'.These days I have to blog something else for not leaving any blank here.

Can domestic monetary policy still control domestic interest rates and so stabilize both inflation and output in globalization? It was the question on my mind when I was learning International Economics,nowadays China is going to face more and more chanllenges from the globalization,and will China be able to control the domestic finance by the fiscal policy used before?

According to the FRER.In principle, the increasing global integration of financial markets, by reducing the scope for individual central banks to control domestic interest rates, could hamper the ability of monetary policy to stabilize prices and economic activity. However, central banks still retain the ability to control short-term interest rates, which affect the domestic cost of credit and long-term interest rates, and so can continue to do their job of stabilizing inflation and output. 

That is ridiculous someone may say because though the central bank can change the interest rate, how can it control the exchange rate as well,let alone the stability of  output. Theoretically speaking,output will be effected by the globalization cause the hot money will surely influnce the price of  certain product.It is much more complicated for the goverment to introduce a pure policy to control the inflation.But there is one basic fact is most powerful,it is for the central bank to issue currency.Strictly control of currency issuing amount is absolutely a effienct way to reduce inflation.Also,it is essential to fight with those debtor nation who issue the too much currency or else it will lead to a transfer of wealth.

I am still not clear about  the way country deal with the problem of debt between countries.Figure it out tomorrow.YOU ARE MY WITNESS~~~

Just now the  power cut erased my machine's memory and my nearly done blog  as well was disappeared.

Chapter 3

Bonner’s parting advice on leadership for CEOs is to, “Forget about leadership. Focus on the work.”

I was told that yesterday my mom had a nightmare about my failure to attend a Chinese college which made her arguing in my high school,however,told that the only reason is her son's fault.Actually I do know my mom rather than me is still unwilling to accept the fact which seems almost forgotten after two years.It is fate (or destiny as you said : ）) and the past I can't make any change. Repenting is not my way but I should learn from the fault I have made and do my best to make the people I love and  who love me happy.

Chapter 2

Treat employee well and highlights individual contributions to the company.A leader has to ask a lot of questions of employees: What motivates them? Which of their needs are being met? Which are not? How can you help them? What impact will helping them have on your business? Listening to and acting on the needs of employees helps our business in the short term and over the long term.

Improve listening and communications skills.At core, communicating should foster a very high level of teamwork and a unified understanding of corporate goals.