Word: borrowable
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...borrow a timely euphemism, athletes "transgress" so often that when it comes time to calculate the damage, the candor of the confession usually trumps the severity of the sin. Tiger Woods shanked his apology, waiting several excruciating days to state that he had "let his family down" and was "far short of perfect." Alleged mistresses are popping up to dish details of late-night trysts, fans are aghast and the pitchfork-wielding pundits are bloodying their former hero with barely concealed glee. But instead of demonizing a star who was worshipped by millions, it's worth pausing to consider...
...With demand so low, few firms will be willing to borrow which means the impact of another round of easing is likely to be limited. Masaaki Kanno, JPMorgan Securities chief economist in Tokyo, says, "The message from senior [Democratic Party of Japan] politicians is that they want the BOJ to implement quantitative easing. And this is the answer from the BOJ - reactive rather than proactive." Kanno says that the BOJ is making a kind of concession to the government and is probably reluctant to implement quantitative easing because it is not convinced that it will improve deflation, economic stagnation...
...firms used the same cheap credit that caused the housing bubble to buy companies. There are about 100 of these firms - KKR, Blackstone and Carlyle are some of the bigger ones - and they buy a company the same way we would buy a house. Put down about 20% and borrow about 80%. The big difference is, the company they're buying borrows the 80%, so they're the ones responsible for repayment. These loans were structured the same way and sold to the same people as mortgages. And the same kind of crazy prices were paid, so unfortunately we probably...
...banks are often large enough to stifle competition. Last month, Alan Greenspan argued that institutions deemed “too big to fail” operate under an implicit subsidy from the government, since they would likely be rescued in a future financial emergency. This allows these banks to borrow more cheaply than their competitors and gain even greater market share. Today, four conglomerate banks (JPMorgan, Citigroup, Wells Fargo, and Bank of America) hold 39 percent of all domestic deposits. Placing this many eggs in four baskets will harm the entire economy should one mega-bank falter in a future...
Grousbeck told the audience that he immediately decided to raise and borrow money to offset the costs of purchasing the Boston Celtics by forming and leading an investment group...