Word: coverse
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The new owner of the mortgages can use them as collateral to issue bonds to finance other deals. Money from thousands of homeowners covers the interest payments on those bonds. To attract investors, the bonds are rated by risk groups, called tranches (the French word for slices). The more secure...
During the past 50 years, transportation has become a patronage program in this country. In the name of keeping the Federal Government small (and political risks low), Congress earmarks pet projects and then allows states to spend the remaining federal funds any way they like. Without real oversight or clear...
Fifty years later, when TIME editors Nancy Gibbs and Michael Duffy visited Graham, they saw that the man who has been on countless magazine covers had only three hung on his office wall: the TIME cover from 1954, a 1992 TIME cover called A CHRISTIAN IN WINTER, and THE PRODIGAL...
“It used to be the case that Pell Grants covered 75 percent of the average tuition, and now it covers a third,” Perlstein said. “People are suffering a great deal more economic anxiety in this ‘you?...
In the long run, that collaborativeness bolsters the firm's ability to do what it thinks is best for investors. Consider the 1990s, when tech-stock valuations soared off the charts. Many value investors came under enormous pressure from shareholders and corporate parents to load up on ridiculously inflated stocks...