Word: bets
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Dates: during 1990-1999
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...derivatives, are beginning to turn on their foreign bankers. Citibank reportedly had to cancel plans for a press conference in Taiwan last month to announce a merger with Travelers Group. The problem? Taiwanese authorities denounced Citibank for allegedly circumventing banking regulations involving certain derivatives that allowed the bank to bet heavily against the Taiwan dollar. "The bottom line in this whole derivatives issue is if I'm a trader, I'll take the biggest bets that I can because if I win, I'll go home a millionaire," says Peabody. "If I lose, then the central banks...
There are two types of risk associated with derivatives: market risk and credit risk. The former describes the possibility that you've bet the wrong way. These losses are theoretically limitless, another interesting feature of derivatives. The latter risk is simply that the counterparty doesn't honor the agreement...
...product of sophisticated math and computer software, derivative contracts are designed to help banks, corporations and countries hedge against financial uncertainties, such as changes in interest rates. But the banks found that they could make a killing by concocting more exotic derivatives that effectively bet on the future direction of interest rates, foreign exchange, commodities and stock indexes. And since banks aren't making much money from traditional lending these days, derivatives became the highway to new revenues and profits. Accounting rules made derivatives attractive too, since the contracts didn't have to show up on bank balance sheets...
...there are two equally skilled employees, I would bet you that the one who is more conformist to what would be considered normal would get the job," he says...
Thanks to successful protection, the Interior Department is proposing to "delist or downlist" some two dozen species on the Endangered and Threatened Species List, including, clockwise, the bald eagle, gray wolf, brown pelican and Aleutian Canada goose. So will the list get shorter? Don't bet on it. Our breakdown of the list...