Word: bondses
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Even so, the troubled U.S. homeowner is not among the priorities of those in Washington who are dishing out rescue funds. The Treasury Department plans to spend $250 billion of the $700 billion rescue package approved by Congress earlier this month on capitalizing banks. To the back burner went Treasury...
One reason it has proved so hard to help homeowners is that today's mortgages are no longer simply held by a local bank; they have been sold to Wall Street, where they were cut up and repackaged into thousands of bonds sold to investors. The current global credit crisis...
NEW DELHI, INDIA Dream Over "No one dares mention the word shares in our house these days," whispers New Delhi software engineer Sandeep Goyal, "especially not when Dad's around." It's soon evident why. His father, a retired banker, is watching a religious sermon on a Sony flat-screen...
The 401(k) plan--named for a section of the Internal Revenue Code--came about thanks to a 1978 congressional provision intended to offer taxpayers breaks on deferred income. In 1980, while trying to streamline a client's profit-sharing plan, benefits consultant Ted Benna realized that the code could...
Troubles for hedge funds started earlier this year when the stock market began to fall on fears of losses in mortgage-related bonds.