Word: default
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...from banks has been positive. After the plan was announced two weeks ago, the stock market produced one of its biggest rallies in months. At its core, the plan promises to offer cheap loans to investors to purchase bank loans on which borrowers are behind or at risk of default. The plan would put needed cash into the hands of the banks. And on the surface it looks like it could produce sizeable returns for investors, as well as a smaller profit for the government...
...shocked” by the mishandling and ignorance of derivatives at the HMC international equities division where she worked, led by Jeffrey B. Larson. At the time, Mack says, Larson’s group had only recently begun exploring more sophisticated financial instruments such as credit default swaps and capital structure arbitrage...
...Since major financial firms operate in dozens of countries, there is no uniform set of answers to that question. The same holds true for leverage. Does a hedge fund create jobs and financial credit opportunities by helping to improve market liquidity though investments with complex insurance instruments like credit default swaps, or are these derivatives too risky to be allowed to trade freely? Since there is no way to come to an irrefutable conclusion about credit and leverage, any decision to regulate or not regulate is based on educated guesses...
...bureaucracy associated with tight regulations as time-consuming and expensive distractions from a funds’ ultimate goal: making money. These objections to oversight, however, ignore the potential damage that unregulated investing and high-risk betting can wreak. Unchecked hedge funds, unregulated derivatives traders, exotic trades, and obscure credit-default swaps all pose threats to the wider stability of the U.S. economy. Additionally, the government’s current inability to safely unwind financial institutions that pose systemic risk presents a gaping hole in federal resolution authority. Unfortunately, behaviors at hedge funds and on trading floors that pose substantial risk...
...rotten time to be a banker. Whether their fingerprints are on a single credit default swap or collateralized debt obligation or not, financiers are being fingered for blowing up the global economy. The assets they traded are "toxic" and their bonuses "obscene." And members of the public, it seems, are fed up with the lot of them. In a leaked security memo sent to staff last week, bosses at AIG warned workers to keep an eye out for aggressors amid the "growing sense of public attention fueled by increased media scrutiny." AIG employees were advised to ditch AIG apparel...