Word: brokering
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...courts serves to Qatar's advantage. The emirate is competing to host the 2016 Olympic Games, so it is keen to sell itself as a politics-free oasis in the roiling Middle East. Behind the scenes, say diplomats, Qatar is also one of several moderate Arab states trying to broker peace talks between Israel and the Palestinians. "We'd love to open an embassy there," says Israeli Foreign Ministry spokeswoman Amira Oron. "But for now, it's impossible...
...didn't say anything about our trades, did you? Otherwise you're dead meat.' Jerome Kerviel, rogue Société Générale trader, talking with a broker in an Oct. 11 online chat about risky trades that are believed to have cost the bank $7.2 billion...
...Imagine a Las Vegas janitor and his schoolteacher wife facing rising housing prices and therefore considering refinancing their mortgage. They seek advice from a mortgage broker whose commission derives solely from the size of the loan he can underwrite. Naturally, the mortgage broker insists that he can get the couple into a $1 million home, despite their combined $75,000 income with an adjustable rate mortgage...
...acknowledge the toxicity of the new mortgage, the broker then sells off this debt to investment banks, which collect mortgages in bulk, securitizing them as collateralized debt obligations (CDOs). These CDOs are packages of mortgage-backed bonds, securitized from pieces of mortgages. As such, they can contain varying qualities of mortgages, despite tranches—or divisions of CDOs—that are intended to rank based on risk. Rating agencies are also to blame, because they facilitate the bank’s sale of securities to institutional investors. Many funds are restricted to buying only the highest quality securities...
...manufactures television sets that might have been competitive in the 1980s but have long since gone out of fashion. "These companies in Iraq cannot compete with these goods coming from China because the costs are very low for them and for us very high," says Haitham N. Elias, a broker...