Word: default
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This new calendar should become the default publicizing medium on campus. While the UC’s idea to make funding contingent on using the events calendar is a good one, they should also actively discourage email spamming...
...also, by default, the best of a bad lot of January comedies. Sometimes a desperate moviegoer has to settle for medi-awful...
...Wednesday, a congressional hearing again probed the moves and possible mistakes the government made when it rescued the insurer. At the center of the hearing, which was held by the House Committee on Oversight and Government Reform, were the payments that AIG made to banks that bought credit-default-swap (CDS) bond insurance from the firm. Members of the panel grilled Treasury Secretary Timothy Geithner, head of the Federal Reserve Bank of New York in late 2008, as to why he allowed AIG to pay the banks the starting value of the CDS contracts when the bonds had fallen significantly...
Back in late 2008, though, even at the height of the financial crisis, BlackRock believed AIG could have struck deals with the big banks that would have saved the company money. At issue were the credit-default swaps - essentially bond insurance that would pay out if borrowers didn't - that AIG had sold to a number of large banks and financial firms. Lawyers say there would have been nothing legally wrong with AIG's negotiating to pay some banks less than others on the CDS insurance they had bought from AIG. In fact, since the CDS contracts insured different bonds...
...forfeit its final doubles contest of the afternoon at the No. 3 spot due to injury, so Chang and sophomore partner Samantha Gridley came away with the default victory...