Word: bets
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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...
...felt real sheepish. I tried not to look at anyone, I kept my head down. But then I remembered why I was hoofing it back there in the first place: wasn’t I due what all these people already had? They all had hymnals, and I bet half of them sang flatter than Old Man Grumpy. So I lifted my dress and my head—all the better to march with! Most of the folks grimaced at me or even glared an apology to whoever was standing next to them. But the few pious sheep...
...this name come from? JH: It’s from a really famous Chinese children’s book, called “Journeys from the West.” People nowadays, when they interpret it, get a lot of secret messages out of it. But I would bet that every Chinese person knows this story. Basically, there is a garden in heaven, and if you eat the peaches from the trees in the garden you can live a thousand years more. The dancers are the protectors of the peach trees. THC: What is the highlight of this year?...
...ensure that incidents like Sunday's showdown in the South China Sea "do not happen again." The incident in question involved several Chinese naval vessels harassing a U.S. surveillance ship off the island of Hainan. But despite the soothing words of the two top diplomats, it's a safe bet that more such incidents can be expected in the future. The Pentagon was quick to note that the mariners aboard the U.S.N.S. Impeccable were civilians working for the Military Sealift Command, while the Chinese side stressed that the confrontation involved local fishing boats. The reality is that the incident occurred...