Word: contracting
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...situation is exacerbated by the heavy trading volume of the instruments, the secrecy surrounding the trades, and - most importantly - the lack of regulation in this insurance contract business. "An original CDS can go through 15 or 20 trades," said Miller. "So when a default occurs, the so-called insured party or hedged party doesn't know who's responsible for making up the default and if that end player has the resources to cure the default...
...managing principal at Towers Perrin, downplays this risk, noting that contractual law requires both parties to inform and get approval from the other before selling the CDS policy to someone else. "These transactions don't take place on a handshake," he said. Still, being unregulated, there is no standard contract, no standard capital requirements, and no standard way of valuating securities in these transactions. As a result, Pincus said she wouldn't be surprised to see a surge in litigation as defaults start happening. "There's a lot of outcry right now for more regulation and more transparency," said Pincus...
Please note that all prices listed are for the mobile phone without a carrier contract...
SILVER LINING Boeing's loss of the aerial-tanker contract to a partly foreign rival may show that defense spending is about more than hometown pork for U.S. companies. Critics say Boeing approached the contract bid with a sense of entitlement; in a global market, this may be a needed wake-up call...
...that affect each of the four two-faced leading characters. Writer and director Ira Sachs suggests that married life is a web of emotions that makes people deceive their loved ones. The movie itself is a deception, however; marriage, as any gender studies concentrator could tell you, is a contract that binds together people’s lives in more than one way. Sachs, an award-winning director, flattens the complexity of this ancient establishment into a humorless discussion on the possibility of true love...