Word: bankses
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The Cambridge City Council voted last night to oppose the use of Homeland Security surveillance cameras in eight locations in the city, citing concerns about the preservations of civil liberties. The cameras, which were installed last year but have yet to be activated, were funded by a federal Homeland Security...
Well, Congress could say. For example, Commerce Committee chairman Henry Waxman inserted language into the House version of the package limiting energy grants to states that give their utilities incentives to promote energy efficiency. If the Federal Government is going to spend the money, it ought to promote federal priorities...
Building the securities which were sold as mortgage-backed financial products was complex. Financial firms had to buy large pools of existing mortgages and develop mathematical models for the cash flows they would produce well into the future as homeowners made their monthly payments. These pools were cut into tranches...
Most economists blame the collapse of the credit markets which began the recession on a drop in US housing prices and devaluing of subprime mortgage-backed securities. The Wall St. experts who created these financial instruments failed to predict how quickly low-quality mortgages would default to some extent because...
It is possible that amid the current credit crisis, banks have been unwilling to lend money for this trading operation. More likely, though, is that there is limited access to infrastructure for storage. A bank or hedge fund with no such infrastructure has to jump an enormous barrier to entry...