Word: bets
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Dates: during 2000-2009
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...Another bet that didn't pay off for Freddie was on interest rates. The firm's managers bought derivatives that would pay out if interest rates rose. Instead, a global financial meltdown has caused interest rates to plummet. That resulted in a $15 billion loss for Freddie from its hedges...
Think again of the insured house. Many institutions hold insurance on the house; on the other side are insurance companies and the like making an opposite bet. If the house is destroyed, one group of institutions wins and the other group loses. Considering all institutions together, no money was truly lost - it's what economists call a zero-sum game. In good times, risk-hungry banks loved this game, but now they have become risk-averse, and the game seems to have changed. So how can many of the banks simultaneously claim enormous swap losses without a single bank claiming...
...roommates had done e-recruiting,” Wells said. “I never got through one application.” Instead, when Wells attended the AMBLE Spring Career Conference her senior year, she met Alvin Bowles, the senior vice president of integrated marketing at BET Networks. According to Wells, Bowles initially told her, “Sorry, we’re not hiring,” but she continued e-mailing and calling before finally securing an internship in New York City the summer after her graduation. Wells called the current economic conditions a “great...
Currier's modus operandi, of course, is partying. Stein Clubs may be standard, but the house is known for blowout Fishbowl events such as Currieroke, when tutors and tutees alike can be found belting out '80s classics, and the notorious Halloween party Heaven and Hell. You can bet something is going down on 64 Linnaean any given weekend...
Time is running out. Olmert has only a few days left in office, and he has dispatched two envoys, including Shin Bet security services chief Yuval Diskin, to Cairo for indirect talks with Hamas, which may be hung up on details of an exchange. Those talks were extended until Monday night, raising the expectation that Hamas might agree to free the captive soldier, who is hidden somewhere in Gaza. "It's been very tough," Noam Shalit told TIME. "But we can't give up. I have no alternative but to be here, in this tent." But as of Tuesday morning...