Word: cashed
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...Citi, the controversy surrounding Hall's pay was about whether a bank that has received $45 billion in government assistance should be turning around and handing over big bags of cash provided by taxpayers, most of whom won't make one-tenth of Hall's annual salary in their entire lifetimes, to its employees. But now that Hall has left Citi, a larger question remains: Is anyone really worth $100 million a year, and what exactly do you have to do to deserve that much...
Harvard, looking to safeguard its cash supply from the increasing threat of losses associated with the swaps, decided to post $500 million in collateral this past year to terminate agreements on $1.1 billion of its debt. In addition, the University will pay another $425 million over the next 30 to 40 years for new “offsetting” interest rate swaps, which will essentially negate the effect of the original swaps on $764 million of its debt...
...CASH CRUNCH...
Friday’s report, which follows Harvard’s announcement last month that its endowment had shrunk by 30 percent this past year, also reveals billions of dollars in losses sustained through the University’s investments of cash designated for short-term expenses...
Have the writers been throwing a lot more of these lately, or did we just never really get them until now? This week it was “cash for clunkers.” Groan...