Word: ballooners
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...white balloon rose on a soft west wind, rocking gently as its string fluttered. The higher it went, the paler it became. After 15 seconds, the pale blue sky showed through its center, and the bell clanged again and another balloon began rising and growing pale...
...Beautiful and achingly sad, the tolling bell and the disappearing balloons and the mass silence marked one week since the murder of 32 students and teachers at Virginia Tech. For eight long minutes the ceremony continued, each balloon finally evaporating in the bleached margin between sun and sky. Finally, flights of orange and crimson balloons swirled up and away and dwindled to pinpoints...
...once until people figure out what the true risks are. It's also why those on the financial cutting edge (like hedge funds) are often barred from pitching their products to anyone but the wealthy. That mortgage lenders were allowed to flog their negative-amortization, adjustable-rate mortgages and balloon loans without restriction does not reflect well on either Congress or state regulators. Now Congress is likely to do something about subprime lending...
Edward Gramlich, a former Federal Reserve Board member now at the Urban Institute, says Congress should sic bank examiners on subprime lenders and ban certain kinds of loans--especially those involving balloon payments. But Gramlich, author of the forthcoming The Rise and Fall of the Subprime Mortgage Market, also sees benefits in the subprime boom. "There seem to be more gainers than losers, and unless the losers lose a lot more per household, the net gains would seem to outpace the losses," he wrote in February. So, yes, things may have gotten out of hand. But neither should we clamor...
...competition lasts five hours, with 10 problems for each team to solve, Heinsman said. When the teammates figure out a solution, they submit it to a bank of judges. When a team finds a solution, contest staff bring a color-coded balloon, with one color for each problem solved. Other teams watch for the proverbial white smoke...