Paramount Pictures

Paramount Pictures Corporation (commonly known as Paramount Studios or simply Paramount, and formerly known as Famous Players-Lasky Corporation) is a film studio, television production company and motion picture distributor, consistently ranked as one of the "Big Six" film studios of Hollywood. It is a subsidiary of U.S. media conglomerate Viacom. Paramount is a member of the Motion Picture Association of America (MPAA).

In 2014, Paramount Pictures became the first major Hollywood studio to distribute all of its films in digital-form only.

Paramount is the fifth oldest surviving film studio in the world, and America's oldest running studio, founded in 1912.

History

1911–1920: Early history

Paramount is the fifth oldest surviving film studio in the world after the French studios Gaumont Film Company (1895) and Pathé (1896), followed by the Nordisk Film company (1906), and Universal Studios (1912). It is the last major film studio still headquartered in the Hollywood district of Los Angeles.

Last Week Tonight with John Oliver

Last Week Tonight with John Oliver, often abridged as Last Week Tonight, is an American late-night talk and news satire television program airing on Sundays on HBO in the United States and HBO Canada, and on Mondays (originally Tuesdays) on Sky Atlantic in the United Kingdom. The half-hour long show premiered on Sunday, April 27, 2014, and is hosted by comedian John Oliver. Last Week Tonight shares some similarities with Comedy Central's The Daily Show with Jon Stewart, where Oliver was previously featured as a correspondent and fill-in host, as it takes a satirical look at news, politics and current events on a weekly basis.

Oliver has said that he has full creative freedom, including free rein to criticize corporations. His initial contract with HBO was for two years with an option for extension. In February 2015, it was announced that the show has been renewed for two additional seasons of 35 episodes each. Oliver and HBO programming president Michael Lombardo have discussed extending the show from half an hour to a full hour and airing more than once a week after Oliver "gets his feet under him".

The Big Short

The Big Short: Inside the Doomsday Machine is a non-fiction book by Michael Lewis about the build-up of the housing and credit bubble during the 2000s. The book was released on March 15, 2010, by W. W. Norton & Company. It spent 28 weeks on The New York Times best-seller list.

Summary

The Big Short describes several of the key players in the creation of the credit default swap market that sought to bet against the collateralized debt obligation (CDO) bubble and thus ended up profiting from the financial crisis of 2007–10. The book also highlights the eccentric nature of the type of person who bets against the market or goes against the grain.

The work follows people who believed the bubble was going to burst, like Meredith Whitney, who predicted the demise of Citigroup and Bear Stearns; Steve Eisman, an outspoken hedge fund manager; Greg Lippmann, a Deutsche Bank trader; Eugene Xu, a quantitative analyst who created the first CDO market by matching buyers and sellers; the founders of Cornwall Capital, who started a hedge fund in their garage with $110,000 and built it into $120 million when the market crashed; and Michael Burry, an ex-neurologist who created Scion Capital despite losing an eye in childhood and suffering from Asperger's syndrome.

Fiduciary

A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other asset for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has entrusted funds to the fiduciary for safekeeping or investment. Likewise, asset managers—including managers of pension plans, endowments and other tax-exempt assets—are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.

A fiduciary duty is the highest standard of care at either equity or law. A fiduciary (abbreviation fid) is expected to be extremely loyal to the person to whom he owes the duty (the "principal"): such that there must be no conflict of duty between fiduciary and principal, and the fiduciary must not profit from his position as a fiduciary(unless the principal consents). The nature of fiduciary obligations differ among jurisdictions. In Australia, only proscriptive or negative fiduciary obligations are recognised, whereas in Canada fiduciaries can come under both proscriptive and prescriptive (positive) fiduciary obligations.