Word: defaulting
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Dates: during 2000-2009
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...curious, the number of people who bemoan Hong Kong's independent-music scene. Critics (and expats in town for brief, superficial sojourns) adopt a default posture of digit-pointing, waving jaded index fingers at a concert calendar crammed with Cantopop and mainstream international acts. But even the most cursory probing reveals plenty of homegrown edge. Consider the Underground, a fortnightly indie-music night that takes place in venues across town, whose organizers have showcased more than 300 bands in its five years of existence. That's irrefutable evidence that if you're looking to tap into live, original music...
Plus, Baker plans to stay put for a while. That also influences the math on how financially savvy it is to buy. The government mortgage agency Ginnie Mae has a rent-vs.-buy calculator on its website - using the default settings, buying starts to make sense after committing to stay for at least four years, although a lot of assumptions go into that calculation: everything from the property-tax rate to mortgage closing costs to the money spent on homeowner's insurance to the yearly home-price appreciation. If prices stay flat instead of going up 2% a year...
Still, an AIG default could have been catastrophic for Goldman, although Goldman claims to have been perfectly hedged against an AIG bankruptcy. "If AIG would have gone bankrupt, it would have affected every institution in the world, because it would have had a big effect on the entire financial system," explains David Viniar, Goldman's CFO. He countered, though, that Goldman would have most likely figured out how to make money trading in such a volatile environment. (See TIME's AIG cover...
...gives a portion of the public, which is facing delinquency and default, a way to avoid going into ultimate foreclosure," says Curran...
Second, pricing the asset right is tricky. If real estate fundamentals continue to deteriorate over an extended period of time, more loans will go into default and the value of the mortgage securities will decline further. This could cause problems for entities that overpay. "If you buy a mortgage at 60 cents on the dollar, it's only a good deal if the underlying values come back," says Ressa...