Word: defaulting
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...contracts, leaving Morgan out some $500 million. America's biggest lender, Chase Manhattan, saw its "nonperforming" assets in Asia triple in the first three months of 1998, to $243 million, due in part to derivatives. At the end of last year, its total risk from Asian derivatives--should others default--was more than $3 billion. Bankers Trust's derivatives' delinquencies have leaped from zero to $330 million in a year, and the compass points to Indonesian and Thai clients. In total, the bank has some $5 billion of derivative credit exposure in Asia. And Greenspan was quite right...
Thomson points out that if one or two large Asian parties default on their derivative contracts, computer screens around the world can be hit within seconds and instantly threaten other contracts. "It's like a bunch of climbers on a mountain all tied by a rope. But if one climber slips and falls into a crevasse, he can quickly drag the other climbers to their end with little chance of time for rescue," says Thomson...
...year in interest payments. On the other hand, lending money to the government of Malaysia is fairly lucrative, but it is not an investment for the faint of heart--the double-digit interest rate brings with it risks of a devaluation, a government coup or an outright default...
...also engage those who find the concept of religion abhorrent, divisive and destructive. They too have thought about religious issues and come to very different conclusions. As someone who considers himself some-what religious, I respect these principled atheists more than those who participate in American secular religion-by-default...
Yahoo!, the éminence grise of search engines, may be grise no longer: It's heading into the shop for a redesign, and its signature default gray background is on the chopping block. "It's actually still on the table," says Tim Brady, VP in charge of production at Yahoo!, adding that "All the new browsers are defaulted to white anyway." This is Yahoo!'s first face-lift in over a year. Why? The new face of Yahoo! makes more of the site's content accessible from the front page, including news feeds and a link to its gaming site...