Word: casing
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Dates: during 2000-2009
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...which royalty would do their business. The garderobe was usually suspended over a moat that collected all manner of human discards, making for a particularly uninviting hurdle for an invading army. Peasants and serfs relieved themselves in communal privies located at the end of their streets, or in the case of those living along the London Bridge, right into the River Thames...
Last Thursday, I attended former New York Governor Eliot Spitzer’s timely and stimulating lecture on banking reform. Spitzer exhibited a thorough understanding of the causes of the recent financial crisis and laid out a convincing case for robust regulation of America’s troubled banking system. Among other things, he concluded that the sheer size of American banks was a major contributor to the financial crisis and continues to present a systemic risk to the economy...
This is the case because the investment banking division can use FDIC-insured funds from the retail-banking division to indirectly finance excessive risk-taking. The retail bank’s customers will not transfer their deposits to a safer institution because they know that the FDIC will compensate them in the event of a bank failure. This moral hazard encourages further mergers between retail and investment banks, which in turn begets more institutions that are “too big to fail.” When excess risk gets a conglomerate bank into trouble, the bill goes to?...
...effectively. As Spitzer pointed out last week, most bank CEOs probably did not want to take on ruinous amounts of risk, but the scale of their operations hindered their oversight. Unsurprisingly, these financial behemoths tend to become unwieldy as they attempt to do too much at once. Consider the case of Citigroup, the product of Citibank’s historic 1998 merger with Travelers, an insurance company. The one-time “financial supermarket” was exposed as a bloated, mismanaged basket case by the financial crisis. Today, Citigroup is selling many of its investment and insurance divisions...
...Please be quiet. On the plus side, you’ll probably ace that final. Dream: The wind is whipping around your cold, questionably dressed self as you trudge along forever and ever, never seeming to reach your final destination. Prediction: Best case scenario: shuttle of shame. What will probably happen: the shuttle won’t come in time, and you’ll have to make the walk of shame from the quad, themed outfit and all. Oh, and you’ll probably run into your professor...