Word: eventful
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...risk from instruments like credit-default swaps and collateralized debt obligations (CDOs) was treated as a profit center, often with little oversight of the mathematical models that spit out numbers about what it was all worth. The models proved spectacularly wrong because they precluded the possibility of an outsize event. Once big shocks, like declining home prices, started hitting, the models broke down. According to a report by a group of U.S. and international regulators, while some firms tried to understand what would happen to their models in truly adverse conditions, plenty of others didn't. In some cases, finance...
...Obamas have descended on Kogelo to celebrate an event so improbable--so audacious, to use their American cousin's word--that, as Malik says, "it's beyond comprehension." The Jor'Obama have gone from barefoot subsistence farmers to the U.S. presidency in two generations. Many still live the life of their grandfather, growing maize, millet and sweet potatoes and tending cows, chickens, goats and ducks. As the first-born son of the first-born son, Malik is the clan head, and at night the men build a fire outside his hut, drink moonshine and talk...
...property sector is dominated by a handful of companies--collectively dubbed Dubai Inc.--that are directly or indirectly owned and controlled by the government. Some argue that Dubai's authorities could thus avert a bubble burst by keeping finished projects off-line until conditions improve. Also, in the event of a systemic threat, Dubai can probably rely on superrich Abu Dhabi for a bailout...
...challenged, so it’s not the same old, same old kind of thing.13. FM: Most memorable HUDS moment? TAM: Let’s see... I don’t think there’s any one that stands out more than the other. I do remember an event that was deeply moving to me. That was when Nelson Mandela got an honorary degree. That was really quite extraordinary.14. FM: Tell me one thing about HUDS that would surprise a Harvard student. TAM: What’s one thing... I don’t know. There...
...jaded upperclassman probably would have decided that Austin Hall was too far away, and that the event was at far too inconvenient of a time, even to see someone as notorious (and frequently hilarious) as Scalia. But for Hunter S. Gaylor, the speech was a “once in a lifetime opportunity...