Word: event
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...company defaulting on its obligations. If you buy $10 million of GM bonds, for instance, you might hedge your bet by buying a $10 million CDS from AIG. In return for that premium - which changes day to day - AIG agrees to give you $10 million should GM have an "event of default" on its obligations...
...time to make sure you don't have more than $100,000 in any one bank. The FDIC insures that amount should your bank fail--plus $250,000 for retirement accounts that hold bank products like CDs. On Sept. 16, however, there was an event in the normally unexcitable world of money-market funds. Because of a loss on Lehman debt, a money fund marked its share value below $1--sacrilege for an investment meant to be akin to cash. A mass redemption followed. If more money funds "break the buck," you may be tempted to move to FDIC-insured...
Robert De Niro and Al Pacino, twin heirs to Marlon Brando's Method mantle, play New York City detectives on the trail of a cop who's a serial killer. The first movie in which the stars share prime screen time could have been an event--if it had happened 30 or 20 or even 10 years ago. Not now, not here. Instead of a World Series of acting, we get a wan Old Timers' Game...
...been called this generation’s Woodstock, harboring an empty hope that the experience would be an appropriate comparison to that summer of ’69. I would like to believe that I am not naïve enough to be disappointed by an event that chose Metallica and Pearl Jam as headliners, that it’s no surprise that the words “sellout” entered my mind on numerous occasions. Still, I can’t help but feel the dull pain of disappointment, as if catching the show this year, its sixth...
...Monetary Authority of Singapore, the government's financial regulator, tried to reassure AIG's customers that there would be no such event. The "financial resources" of AIG's Singapore-based insurance subsidiary currently met its requirements, regulators stated in a press release. But so far, consumers in this global market have been far from comforted. Standing in the crowd on Wednesday, Karen Foo, 29, said she was only dimly aware of the underlying assets in the investment trust her insurance policy is linked to. She was determined to sell at the earliest opportunity. "I'm a little worried," Foo said...