Word: disasterous
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Finally, many CDSs insured products ill-suited for insurance. Insurance works best when a disaster is random, infrequent, and independent from other disasters. This is not the case for mortgage-backed securities. In the housing market, prices are dependent on the surrounding area. A firm can attempt to mitigate this...
About five million people, or a quarter of the population of Mexico City's urban sprawl, woke up Thursday with dry taps. The drought was caused by the biggest stoppage in the city's main reservoir system in recent years to ration its depleting supplies. Government officials hope this and...
Halfway through “The Posthuman Dada Guide: tzara and lenin play chess,” one may indulge the urge to turn to the Internet to help explain Andrei Codrescu’s looping chain of definitions, anecdotes, and exaggerated statements about the world. The entries that compose...
Since it first reared its head in 1977, punk rock hasn’t come in waves so much as infesations, swarms, plagues of cockroaches. When their way of life destabilized (post-punk, new wave, etc.), the faithful foraged underground to found hardcore—itself the ancestor of pop...
So it was in mid-March, when gunmen blasted their way into a Darfur compound of MSF Belgium and kidnapped five aid workers, shortly after prosecutors at the International Criminal Court in The Hague had handed down a war-crimes indictment to Sudan's President Omar al-Bashir - its first...