Sometimes we feel that we have been taken for a ride, paying for something that’s overpriced. What is the fair value of a particular merchandise that we intent to buy? The fair value is exactly the price that you are willing to pay for. Well, if you think that it ’s overpriced you can always choose another of a lower price.

The cost to produce a similar product or to render the same kind services is about the same and should not differ by a big margin and if that the case why is that there is such a vase difference in the pricing? It is because of branding or simply due to greed of businessmen to squeeze more profits out from the consumers.

Greed is wanting more of something than is actually needed and in this case its money. Most people don’t admit that they are greedy with the overwhelming desire to want more money, all they want is to be able to a drive a Beemer, live in a Bungalow, and have enough cash so as not to be stressful financially for the rest of their life.

Many may think that acquiring money is not matter of greed but of necessity to provide food and shelter for the family. So what is greed when money is concern especially in business and to address this issue, a focus on the practical application of business principles versus profit is required.

At what point can you bend your principles in exchange for a profit? What you are going to do will depend on the amount of financial gain that you can get even if it is unethical. Referring back to the Aug’s report by the Singapore’s Straits Times on 218 entrepreneurs who were exposed, are deliberately using questionable degrees obtain from degree mails. This is doing something unethical in exchange for greater fame which will indirectly lead to greater profits.

By doing so, they have completely undermines their reasons for having principles in the first place. The temptation of greed and the motivation of having more money makes these people to bent the rules and doesn’t mind the consequences.

In order not to compromise on your principles, you must lay down your ethics when dealing with money and never let money override your principles in doing business. Think long term rather then just getting rich quick.

Your customers will go to your competitors. Your employees will choose to work for another boss who are more ethical and understanding. Your greed will eventually cause your downfall.

You can have your principles and at the same time make your money. All you need is to maintain a proper perspective regarding making the money and the value of your products or services that you provide to your customers. Your goal should be focus on customers first then the money will come in naturally.

“The discovery of America was the occasion of the greatest outburst of cruelty and reckless greed known in history” - Joseph Conrad (1857 - 1924)

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The $700 billion bailout plan, also known as the Troubled Asset Relief Program (TARP), is one of the main tools to address the financial crisis.

The Treasury Department had set aside $250 billion of the program to buy senior preferred shares and warrants in banks, thrifts and other financial institutions.

American International Group’s $40 billion bailout was the biggest TARP investment, and would not come from the $250 billion bank capital program.

The TARP has so far committed the following funding:

AIG - $40 billion

JPMorgan - $25 billion

Citigroup - $25 billion

Wells Fargo - $25 billion

Bank of America - $15 billion

Merrill Lynch - $10 billion

Goldman Sachs - $10 billion

Morgan Stanley - $10 billion

PNC Financial Services - $7.7 billion

Bank of New York Mellon - $3 billion

State Street Corp - $2 billion

Capital One Financial - $3.55 billion

Fifth Third Bancorp - $3.45 billion

Regions Financial - $3.5 billion

SunTrust Banks - $3.5 billion

BB&T Corp - $3.1 billion

KeyCorp - $2.5 billion

Comerica - $2.25 billion

Marshall & Ilsley Corp - $1.7 billion

Northern Trust Corp - $1.5 billion

Huntington Bancshares - $1.4 billion

Zions Bancorp - $1.4 billion

First Horizon National - $866 million

City National Corp - $395 million

Valley National Bancorp - $330 million

UCBH Holdings Inc - $298 million

Umpqua Holdings Corp - $214 million

Washington Federal - $200 million

First Niagara Financial - $186 million

HF Financial Corp - $25 million

Bank of Commerce - $17 million

TOTAL: $203.08 billion

In addition to the $40 billion capital injection into AIG, the Federal Reserve is providing the additional $112.5 billion in separate loans and funds for asset purchases. Aid to the huge insurance company came after counterparties and rating downgrades forced AIG to post large amounts of collateral for its credit derivatives positions.

The remaining $350 billion in TARP funding can be accessed only after the White House formally notifies Congress. U.S. House Financial Services Chairman Barney Frank has said that if the initial banks participating in the program do not use the money for lending, Congress could block authorization of the final funding.

“Oh, I don’t blame Congress. If I had $600 billion at my disposal, I’d be irresponsible, too” - Lichty and Wagner

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Barack Obama defeat John McCain was elected the 44th president of the United States, becoming the country’s first African-American president. The Illinois senator capped his 21-month quest with a sweeping electoral victory that marked the end of an era of Republican dominance in Washington.

Obama crossed the requisite threshold of 270 electoral votes to defeat Republican rival John McCain last night when television networks projected him winning the state of California. He had at least 338 electoral votes to McCain’s 145, according to the Associated Press and television network projections. Six states remained undecided.

His victory, along with his party’s gains in congressional contests, puts Democrats in firm control of the federal government for the first time since the early 1990s. That gives Obama an opportunity to turn his victory into a pivotal moment in the country’s political history.

Obama promise a change in Washington, inspiring millions of new voters and volunteers along the way. He persuaded the electorate that he could best handle the economic crisis facing the country. He raised more money than any presidential candidate in history, overwhelming McCain.

The racial symbolism of Obama’s campaign was never far from the surface. He formally declared his candidacy in February 2007 in Springfield, Illinois, evoking the spirit of Abraham Lincoln and his call for the nation to overcome the divisions of slavery. Obama ended his campaign Monday night with a rally in Manassas, Virginia, the site of two Confederate Civil War victories.

“I have been thinking that I would make a proposition to my Republican friends… that if they will stop telling lies about the Democrats, we will stop telling the truth about them” - Adlai E. Stevenson Jr., Speech during 1952 Presidential Campaign, US diplomat & Democratic politician (1900 - 1965)

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