In Hong Kong more than 43,700 individuals in the city have invested in HK$15.7 billion of "guaranteed mini-bonds" (迷你債券) from Lehman.Many claim that banks and brokers mis-sold them as low-risk. Conversely, bankers note that minibonds are indeed low-risk instruments since they were backed by Lehman Brothers, which until just months before its collapse was a venerable member of Wall Street with high credit and investment ratings. The default of Lehman Brothers was a low probability event, which was totally unexpected.
The Hong Kong government proposed a plan to buy back the investments at their current estimated value, which will allow investors to partially recover some of their loss by the end of the year.HK Chief executive Donald Tsang insisted the local banks respond swiftly to the government buy-back proposal as the Monetary Authority received more than 16,000 complaints. On October 17 He Guangbe, chairman of the Hong Kong Association of Banks, agreed to buy back the bonds, which will be priced using an agreed upon methodology based on its estimated current value.
Ref:http://en.wikipedia.org/wiki/Lehman_Brothers
http://en.wikipedia.org/wiki/Bankruptcy_of_Lehman_Brothers
Dior's Silhouette
“I designed clothes for flower-like women, with rounded shoulders, full feminine busts, and hand-span waist above enormous spreading skirts.” - Christain Dior
“I want to employ quite a different technique in fashioning my clothes, from the methods then in use – I wanted them to be constructed like buildings, Thus I moulded my dresses to curves of female body, so that they called attention to its shape. I emphasis the width of the hips, and gave the bust its true prominence; and in order to give my models more “presence” I lined nearly all of them with cambric or taffeta, thus reverting an old tradition.” - Christain Dior
Dior nurtured a predilection for 19th touches, using fabrics knots, fringed bows and artificial flowers as finishing touches on garments of stiff taffeta, duchesse satin and wool.
Dior’s look was that its doll-like shape was unmistakable in silhouette, with its lavish ballerina skirts, smooth fitted bodices and moulded jackets.
A Post War Turning Point in Fashion History
It was a complete change of silhouette from wartime austerity styles- long skirts for daily wear, long crinolines, sloping shoulders, hair parted in the middle and looped over the ears.
Originally named as “Corolle”, rechristened by Carmel Snow, editor of American Harper’s Bazaar, as the “New Look”.
When the rationing of fabric during the Second World War was still in place, typically 15 yards fabrics was used for woolen day dress, 25 yards in a short taffeta evening gown.
In Dior’s “Bar” suit the narrow waist was achieved by corsets and hip pockets added width. The long black wool skirt, lined with cambric, is exceptionally heavy.
"Bar” , later modelled by Renee. Photograph by Willy Maywald,1955.
Shoes changed from clumpy wedges to slim elegant courts with narrows toes and high heels supporting by steel rods.
Models in Couture fashion shows changed from traditionally staid affairs to move like dancers.
Ref: THE GOLDEN AGE OF COUTURE - PARIS AND LONDON 1947-1957
Edited by Claire Wilcox - V&A
2. Dior's Golden Age The Renaissance of Couture - Claire Wilcox : P.29-61
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