Word: failed
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...mortgages and develop mathematical models for the cash flows they would produce well into the future as homeowners made their monthly payments. These pools were cut into tranches with each tranche carrying a probability of how many mortgages in it would pay out to maturity and how many would fail. After these calculations were made, they were sold to banks, brokerage firms, and other financial institutions as high-yield paper. The major credit agencies gave these securities "Aaa" ratings based, in part, on the fact that nationwide home prices had not dropped in any year since The Great Depression...
...lacks both narrative credibility and discernible substance. The result is that a nation with so many challenges and so vibrant a film culture produces so many movies that feature meaningless plots punctuated only by feel-good song-and-dance routines. Indeed, it’s not that the movies fail to penetrate the surface—it’s that they don’t even capture it. And so it has fallen to talented British producers to make movies that actually bring India to life, as the estimable Richard Attenborough did in 1982 when he made Gandhi...
...need for speed and the need for change. There is trauma surgery, and there is transplant surgery; one usually takes a lot longer than the other, and you'd be insane to try to do both together. So I wondered why he seemed to set himself up to fail, insisting that lawmakers do something very big, very hard, very fast, and in a whole...
...immediate past, at least as far as risk went. Turns out it didn't. All it was going to take was a worse-than-average recession - and it looks as though we've got one - and many banks, including a number of the biggest ones, were bound to fail. The shockingly poor lending standards - housekeepers being approved for million-dollar mortgages - have only hastened their demise. "This crisis needs to be understood as something that has developed over the past decade," says Joseph Mason, a finance professor at Louisiana State University's E.J. Ourso College of Business. "This...
...Republican strategy of rooting for Obama's stimulus package to fail in order to be able to triumphantly crow "we told you so" is revealed...