Word: assets
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...largest media companies are making the case that the only reason their asset values have dropped is the economy. That case may not hold...
...Here's how Strata worked: The original investment (made by hedge funds or other big investors) was $20 million, plus a fee paid to the underwriter, Bank of America, for structuring the bond. Bank of America then took the $20 million and bought some liquid, safe asset, such as Treasury bonds. Those safe bonds then became Strata's collateral...
...narrow application. First, the provisions will not apply to the $350 billion of bailout funds already spent or allocated. Second, the provisions bypass large-time traders, brokers, and consultants, whose salary and bonuses often surpass the half-million-dollar limit. Third, healthier banks receiving funds through the Troubled Asset Relief Program will be effectively exempted from the provisions. Finally, the Treasury’s directives for increased financial transparency may pressure companies to reduce luxury spending, but they cannot entirely eliminate...
...that pervades Wall Street. His view finds much sympathy on “Main Street.” After all, a quick survey of just a few of the financial industry’s titans yields nothing but front-page scandals—from Bernard Madoff, the mysterious asset manager “extraordinaire” who was revealed to be the mastermind behind a wealth-draining Ponzi scheme, to John Thain, the former Merrill Lynch CEO who spent a reported $1.2 million redecorating his office suite (complete with a $35,000 commode) at the expense of the U.S. taxpayer...
...Army sent him all over the world, including tours in Japan and Iraq. General David Petraeus, who served as Mellinger's boss during the draftee's final three months in Iraq in 2007, calls him "a national asset" who kept the top generals' aware of the peaks and valleys in battlefield morale. "We lost count of how many times his personal convoy was hit," Petraeus says. "Yet he never stopped driving the roads, walking patrols, and going on missions with our troopers." (Mellinger's 33-month Iraq tour was punctuated by 27 roadside bombings, including two that destroyed his vehicle...