Word: bondses
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The scam occurred in the trading of so-called stripped government bonds, a type of security.
Let those who can, the tax-weary citizen might respond, get away with what they can. Trouble is, "the two tax laws" Barlett and Steele describe are part of what has been tearing America into two nations: an upscale U.S.A. where people raise fillies called "Tax Dodge," and a stressed...
"The two main things that are key [when growing old] are purposes and projects that give your day a complex structure and the bonds of intimacy," Friedan said. "Love and work. Freud was not wrong in everything."
But American corporations and other prospective investors faced risks ranging from exchange-rate fluctuations to possible political coups. To underwrite the hazards, Wall Street began issuing over-the-counter derivatives contracts, which investors snapped up as security blankets. Such deals could be as simple as an agreement to buy German...
Chicago trader Peter Dunne, who works and sleeps to the sound of bond futures markets buzzing from Frankfurt to Tokyo, can attest to the global expansion of derivatives trading in the past four years alone. Dunne's working day has lengthened four hours over that stretch: he rises at 4...