Word: failed
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Dates: during 2000-2009
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...firm can purchase a CDS on a company with which it has no direct relationship. Consequently, if a firm looks like it will fail, one can purchase a CDS on it so that when it collapses one receives the insurance payout. This incentivizes firms to work against each other and was one reason why Lehman Brothers collapsed. As the Financial Times asserts, “a house insured for more than its value is always considered a fire risk.” Healthy competition among banks is essential to a vibrant economy, but incentivizing the failure of banks...
...spam to FlyBy. But, you know what they say: one man's trash is another man's treasure. So here are some of the most weird, funny, and heartbreaking spam excerpts that FlyBy found in its recent inbox memory. Try to guess what they're about (you will fail). Answers after the jump...
...paintings, read the placards, and you’re supposed to engage with the artwork.”MuseTrek, Umar explains, is an impetus for interaction. He describes the device as a means for the public to guide itself rather than rely on tour guides, who often fail to engage audiences (especially younger ones). “Stories written by someone your age, of your generation who speaks your language,” Umar says, “are more accessible, compared to a curator who speaks a more academic language.” “One goal...
...collapse: it might feel good and it might be morally justified, but in the long run it would just increase the misery on Main Street. Like it or not, with more than 10 million Margaritos from coast to coast, illegal America is simply too big to fail...
...This is where the euro should come in. Europe’s currency is a true financial miracle—when it was created just over a decade ago, everyone thought it would fail. Milton Friedman famously predicted it would be a disaster, and the Bank of England had stress scenarios that foresaw a similar end to the monetary experiment. Yet, over ten years later and despite the fact that it was created with a political rather than economic agenda, the currency remains alive and arguably very strong. As with most things in life, adopting it involves a trade...