Word: creations
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Dates: during 2000-2009
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...previously were unable to obtain credit. Financial engineers pooled these loans together and sold off pieces representing different presumed levels of risk. In the process, the nonbank financial institutions buying these "structured credit products" - hedge funds and other supposedly sophisticated players - replaced banks as the engines of credit creation in recent years. Unlike banks, however, these institutions lack deposit insurance and do not have direct access to central bank lender-of-last-resort safety nets. When the quantitative models used to measure default risk on the new mortgage-backed instruments vastly underestimated actual delinquencies, many of these investors found themselves...
...Alas, after the death of the princess of Wales, the people I knew were not "snuffling into their tissues." They were shrugging their shoulders over this dim, vastly undereducated clotheshorse, this media creation who had fallen harder for her own myth than even her besotted admirers. As I heard people make ridiculous and wholly unfounded references to Diana's "worldwide humanitarian achievements," as I saw crowds sobbing hysterically over mounds of rotting flowers, I can't say that my opinion of the British (normally quite high) was at all improved. The only thing more bizarre than that week of maudlin...
Alas, after the death of the Princess of Wales, the people I knew were not "snuffling into their tissues." They were shrugging their shoulders over this dim, vastly undereducated clotheshorse, this media creation who had fallen harder for her own myth than even her besotted admirers. As I heard people make ridiculous and wholly unfounded references to Diana's "worldwide humanitarian achievements," as I saw crowds sobbing hysterically over mounds of rotting flowers, I can't say that my opinion of the British (normally quite high) was at all improved. The only thing more bizarre than that week of maudlin...
...Alas, after the death of the princess of Wales, the people I knew were not "snuffling into their tissues." They were shrugging their shoulders over this dim, vastly undereducated clotheshorse, this media creation who had fallen harder for her own myth than even her besotted admirers. Ten years later, some people are still obsessed by the silly creature, largely, I suspect, because they're obsessed with princess fantasies. Let's hope that once this anniversary is past, they will get a grip, grow up and move on. Leslie Brown Kessler, Chicago...
Alas, after the death of the Princess of Wales, the people I knew were not "snuffling into their tissues." They were shrugging their shoulders over this dim, vastly undereducated clotheshorse, this media creation who had fallen harder for her own myth than even her besotted admirers. As I heard people make ridiculous references to Diana's "worldwide humanitarian achievements," as I saw crowds sobbing hysterically over mounds of rotting flowers, I can't say that my opinion of the British (normally quite high) was at all improved. Ten years later, some people are still obsessed by the silly creature, largely...