Word: broking
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...treated as a profit center, often with little oversight of the mathematical models that spit out numbers about what it was all worth. The models proved spectacularly wrong because they precluded the possibility of an outsize event. Once big shocks, like declining home prices, started hitting, the models broke down. According to a report by a group of U.S. and international regulators, while some firms tried to understand what would happen to their models in truly adverse conditions, plenty of others didn't. In some cases, finance outfits barely examined their products, instead relying on the evaluations of outside ratings...
That is exactly the sort of top-down control financial firms now say they want. Citigroup CEO Vikram Pandit vows to be a "hands-on participant" in risk management. In August, UBS chairman Peter Kurer broke the firm into three separate units partly because the old structure, he said, encouraged "the blurring of the true risk-reward profile of individual businesses." In July, the Institute of International Finance, which counts large banks and insurance companies among its members, put out a 174-page report detailing best practices in the wake of the financial crisis. Among them: developing a corporate culture...
...United States. The IOP crowd erupted into cheers and hugs, and people hoisted the Obama cut-out into the air and passed it around. Festivities spilled out into the Yard, where students congregated around the John Harvard statue. After a brass band played the National Anthem, the crowd broke out into impromptu chants of “O-bam-a” and “Yes We Can.” —Staff Writer Lauren D. Kiel can be reached at lkiel@fas.harvard.edu...
Political parties are machines, and last night, the Republican Party broke. To fix it, conservatives must update their blueprint and learn the right lessons from...
John McCain's selection of Palin, a former Pentecostal Christian, as his running mate was supposed to help strengthen his appeal to religious voters. Republican strategists knew that undecided religious voters broke heavily for George W. Bush in the last weeks of the 2004 campaign, and they hoped Palin's candidacy would sway those voters to the GOP again this year. Instead, those late deciders - including white Evangelicals - appear to have split between Obama and McCain...