Word: deal
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...Delaware than they do to Detroit," says Hugh Ray, a partner at the Houston-based law firm Andrews Kurth who is also admitted to the New York bar. "You're afraid of what you don't know, and it's easy to tell a client they face a great deal of uncertainty, when what they should tell the client is, 'I don't know much about Detroit...
...privatized in 2007. Expecting that LBB would be downgraded by ratings agencies, BVG was planning to insure its assets through another state-owned bank in Germany, the Landesbank Baden-Wuerttemberg. But city officials say BVG's advisor, J.P. Morgan, suggested the transit company spread the risk by insuring the deal through a collateralized debt obligation, or CDO, backed by a consortium of some 150 banks and insurers that included AIG and Lehman Brothers...
...Brothers and the uncertain future of AIG, BVG fears that the U.S. investors could demand as much as $200 million in additional collateral. As a precaution, the transit company has taken a risk provision of €157 million ($208 million) on its balance sheet. BVG says that when the deal was done, J.P. Morgan assured that it would not be liable unless the majority of its CDO backers became insolvent. "But they misled us," says Reetz. "It now appears that we could be made liable even if just one of the backers becomes insolvent, as has happened." J.P. Morgan declined...
...smell of alcohol on [Dipendra]." According to Paras, the crown prince had intended to take down his popular father ever since Birendra relinquished absolute power after pro-democracy protests in 1990. The loss of that political mandate was made worse for Dipendra after his father scuttled an arms deal with a German riflemaker that could have yielded the prince a windfall of over $1 million. "That was the real trigger," claimed Paras, though former aides to the monarchy have denied such a transaction was ever in the works...
...real fly in the ointment is that by including India in the contact group, the Obama Administration has been insensitive to the fact that Indian and Pakistani interests diverge." The contact group is composed of countries in the area that the Obama Administration has brought in to deal with regional crises. India and Pakistan are both part of the group, even though their mutual animosity goes back to their independence from Britain in 1947. (Read "Can Pakistan Be Untangled from the Taliban...