Word: borrowings
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...problem are still worth something. House prices are headed downward, but they're not headed to zero. What turned a simple price decline into a crisis that killed Bear Stearns was the way many financial firms (hedge funds and investment banks, especially) generate their profits: by making bets with borrowed money. To borrow that money, they have to put up collateral--for example, mortgage securities. Lately, many firms have been simultaneously beset by bets gone bad and skittish lenders' calling in loans or demanding more collateral...
...ANYONE can pass in Carmel,” my brother told me. Great. Now I was doomed to fail.I watched as a tiny disheleved woman with crazy curly hair struggled to climb into my mom’s SUV. (I had convinced her to let me borrow it. That other car was clearly bad luck). She seemed a little distracted, but I decided to ignore it. We made it around the block, and Crazy Hair told me to try my hand at parallel parking. I decided it wasn’t my finest work—seeing...
...asked to serve on a jury deliberating a violation of state or federal drug laws, we will vote to acquit, regardless of the evidence presented. Save for a prosecution in which acts of violence or intended violence are alleged, we will - to borrow Justice Harry Blackmun's manifesto against the death penalty - no longer tinker with the machinery of the drug war. No longer can we collaborate with a government that uses nonviolent drug offenses to fill prisons with its poorest, most damaged and most desperate citizens...
...Harvard’s new approach could tarnish the university’s sterling reputation,” Thamel worries—but in the nascent Amaker Era of Crimson basketball the question of athletic standards is also salient.Harvard’s sterling reputation, to borrow Thamel’s phrase, stems from its commitment to promote excellence in all areas of campus, including the classroom, the research laboratory, the concert hall, and the sports arena. Yet the men’s basketball team has languished for decades, falling well short of that standard. Meanwhile, the baseball and football...
...more charity. IR wants to compete. Hoping to grab more of the long-haul freight business lost to truckers in recent years, rail bosses plan to borrow at least $15 billion to build a dedicated fast-freight corridor between Mumbai, New Delhi and Kolkata (formerly Calcutta). They also have big plans for some of the 1 million acres (420,000 hectares) of land that IR owns along rail lines and around stations and shunt yards. Real estate developers are currently bidding to overhaul the first of 16 major stations. At New Delhi's central station, which is likely worth billions...