Word: beares
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ELYRIA, Ohio — It was two years ago this summer—the week ending June 22, 2007—that the first intimations of economic crisis hit Wall Street. That week, rumors, and subsequently figures, began to fly regarding a pair of Bear Stearns hedge funds that were heavily invested in complicated debt products...
...interning at an asset management firm in New York, and by the end of the next month—once Bear Stearns had wound-down the funds as officially worthless—all of my colleagues, from the most senior money managers to the lowliest analysts, had sat through a number of crash courses in our conference rooms 40 floors over Midtown, covering the inner-workings of “mortgage securitization.” This process governs how a home buyer’s payments make it from Main Street to Wall Street, and what happens when the flow...
...Iraq experience, nobody is prepared to have a long slog where it is not apparent we are making headway." And headway is proving largely elusive. Even those arguing for the efficacy of the clear-hold-build counterinsurgency strategy used in Iraq acknowledge that it will take years to bear fruit in Afghanistan...
...details of the leaders' conversation have been disclosed, though it's believed deals on energy and infrastructure development were authored. Earlier in the week, both Karzai and Zardari had met with Tajik president Emomali Rakhmon to work out a joint strategy on fighting terrorism. Whether this will bear much fruit remains to be seen. "The people of Afghanistan [and] the people of Pakistan are looking up to the leadership of the region to help with problems," said Zardari, alluding to Moscow's significant presence in Central Asia...
While today's summer office jobs bear scant resemblance to the long-term apprenticeships of the Middle Ages, both share the same purpose: jump-starting an ambitious new worker's career. In the trade guilds of 11th century England, a worker would actually pay to learn alongside a "master" who would teach him a skill like printmaking. Apprenticeships could last several years and would start as early as age 16. In many cases, the apprentice was dependent upon the master for food, clothing and a place to live, though this idea eventually disappeared. As the Industrial Revolution of the 18th...