Word: event
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...credit rating, AIG FP should have stopped writing swaps and hedged, or reinsured, its existing ones. But Cassano's unit doubled down after the spring of 2005, writing more and more subprime-linked swaps as the ratings plunged, which made the possible need for collateral enormous in the event its debt was downgraded. The downgrades occurred in 2008. "Of course they were going to run out of money," says Greenberg. He adds that as the liquidity crunch hit in 2008, AIG FP should have renegotiated terms with the banks to ease their demands on collateral. "You can renegotiate almost anything...
...Harvard psychologist Daniel Gilbert, the best-selling author of Stumbling on Happiness, argues that people who try to imagine how much they will like or dislike a future event (a blind date, say) are usually wildly off the mark, and that the most reliable measure of their future response seems to be that of someone who has already experienced the event - rather than any actual information about the event itself - even if that person is a stranger...
...langue de bois" - wooden tongue - and, unfortunately, we are entering a period in which official tongues will be even more thickly wooden than usual. The main reason for that is the summit of world leaders scheduled to take place on April 2 in London. Billed as a crucially important event for the future of the global economy when it was first called just four months ago, it's now clear that this meeting is likely to be anticlimactic at best and, at worst, a dangerous failure. Clever civil servants are already working on a draft final communiqué that will...
...meant to be a heat that didn’t count for anything. Nearing the end of a senior season that saw his pool-time cut drastically by a chronic injury, swimmer Dan Jones hit the water for a non-scoring run of his signature event, the 100 butterfly. The event drew little interest from the crowd.Jones’ finish was a different story. Fans and teammates exploded in jubilation when the Crimson swimmer’s time was displayed on the board, showing that he had recorded the fastest effort of the day—a mark that...
...trying economic times, also issued a caveat. “The last thing you should worry about is income, especially in this economy,” the comedian said. “Pursuing money isn’t sane,” he later warned. Speaking after the event, Black expressed disdain for the number of students entering business fields for the sake of financial gain. Yesterday’s appearance began with a short address, after which Black conducted a long question and answer period, discussing comedy and his career. Pointing to his experience teaching theater, Black remarked several...