Word: accountant
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Dates: during 1990-1999
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...alchemy of derivatives rests on complex mathematical models that predict how markets and derivatives will behave under certain assumptions. The computer models use past market performance to portend the future, but they can't account for the unaccountable: every once in a while an asteroid does strike or countries blow up. These things aren't fully factored in the modeling. Besides, the global economy today is radically different from just five years ago. "Banks have been going out further and further on the risk spectrum, especially the big banks," says Furash. "They are all looking for bigger returns, since they...
...familiar journalistic type, but the serial fabulist is rare. Glass concocted story after story and slipped them all past his editors and fact checkers, often buttressing his claims with forged notes and interview transcripts and other bogus documents. His work was challenged from time to time--a March 1997 account of a cocaine-fueled orgy at a young-conservatives conference was hooted at loudly--but his career sailed on, with free-lance contracts from a fistful of magazines...
...exposure of the massacre at My Lai; of a heart attack while playing handball; in Metairie, La. Shocked by comrades' talk of the March 16, 1968, killings, Ridenhour investigated and sent a long letter to several Congressmen and President Nixon when he returned to the U.S. His account that "something rather dark and bloody" had transpired seared the nation's conscience...
...special auction organized by Northwest. "You can always use your airline miles for a trip to a great place like Fiji or London," says Graham, who travels once a week on business, accumulates about 100,000 miles annually and at one point had 1.5 million miles in his Northwest account. "But meeting B.B. King was the kind of unique, special experience that you just don't associate with an airline program...
Biotech companies are notorious for moving ahead with tests too quickly. But, Weisbrod notes, "that still doesn't account for this huge discrepancy." His top picks, too, expect to have drugs approved within two years: Biochem Pharma (hepatitis) and Centocor (blood clots). Another fan of companies with late-stage drugs is Evan Sturza, editor of Sturza's Medical Investment Letter, whose top picks are Aviron (flu), Gilead Sciences (HIV, hepatitis) and Sepracor (side effects from Prozac, Claritin and others...