Word: bonde
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...quickly as it did in the preceding months. Most important, Chinese banks doled out nearly $240 billion of new loans in January - a one-month record. Some economists have taken these data as evidence that China's economy has already bottomed out. Merrill Lynch economists Ting Lu and T.J. Bond reaffirmed their bullish 8% GDP-growth estimate for 2009 in a February report, arguing that the turnaround could begin in the second quarter. "China looks set to be the first major economy to recover from the current global meltdown," they proclaimed...
Look under the hood of a bond called Jupiter High-Grade CDO V, and you can understand why we're in trouble. Bankers from the 1970s, when mortgage bonds first took off, would hardly recognize Jupiter. Unlike a traditional bond, Jupiter's underwriter does not buy people's mortgages, collect the payments and pass them on to its investors. Instead, Jupiter holds other mortgage bonds--and not just any. Jupiter's investments are made up of the riskiest portions of other bonds, some of which are themselves a collection of other poorly rated mortgage bonds. In a rising real estate...
...valuation of a mortgage bond like Jupiter is a white-hot argument. Most Wall Streeters agree that a large number of such bonds--amounting to hundreds of billions of dollars, perhaps trillions--are worth far less than their stated, or par, value. How much less is central to resolving the financial crisis. In early February, Treasury Secretary Timothy Geithner said he wanted to start a public-private partnership to buy up toxic assets. Banks hold tens of billions of dollars in mortgage bonds, and as the bonds fell in value or were wiped out completely, they erased precious capital...
...recent Goldman Sachs report estimates that most investment banks believe bonds like Jupiter are worth 40% less than what was paid for them, or 60¢ for every dollar invested. But given how many of Jupiter's bonds have gone bad, you could just as easily guess that it is worth 41¢ on the dollar. And that might be generous. A top bond trader who looked at Jupiter for TIME said that on the basis of where loan defaults are headed and the loans Jupiter holds, even the best part of the bond could be worth as little...
...most accomplished and influential African-American architect of his generation, Max Bond died on Feb. 18 at 73. In a profession with few role models of color, his career became a reference point for others to emulate...