Word: bondses
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Grammy-nominated rapper KRS-One put United States Supreme Court Justice Clarence Thomas on blast when, on his 1992 album “Sex and Violence”—he proclaimed: “You want to see the devil, take a look at Clarence Thomas.?...
Last week, the stereotypical hoards surrounding John Harvard, taking pictures, and ensuring that students bound for the Science Center are late for class weren’t the tourists we’ve all come to expect. Rather than unofficial tour groups illuminating the Yard with strobe-light like flashes...
There has rarely been a moment in history when you couldn't scare yourself into doing nothing. And yet, as Lynch observed nearly 20 years ago, "in spite of all the great and minor calamities that have occurred ... all the thousands of reasons that the world might be coming to...
Although there is no direct evidence that rating agencies purposefully overrate these bonds, the fact that the agencies’ customers are the very same banks who are trying to sell these dubious securities raises conflict-of-interest issues. These rating agencies are thus not independent, objective judges of quality...
Nearing their terminus, the bonds fall into the laps of yet another culpable party: hedge funds. The incentive structure of hedge funds depends on maximizing return each year—rather than lowering the riskiness of its portfolio or pursuing long-term growth, or even solvency. Thus, in many cases...