Word: first
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Dates: during 2010-2019
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...first memory of Maria Carla is actually a memory of her voice, when, after spending months writing to each other, she called me from Italy,” he wrote in an e-mail from Cuba, where he lives now. “I will never forget that moment...
...Their first date came just a few days after Chicuén arrived. The pair strolled down el Malecón, a historic and picturesque esplanade along the Havana coast. Next came dinner at a restaurant with an ocean view. And then they danced the night away. “That first date confirmed that we were meant to be together. We just enjoyed each other so much, and the mere presence of the other was enough to feel happy,” Antonio wrote...
Washington, D.C., May 27, 2025. Just four months into his first term, President Scott P. Brown faces what is rapidly becoming a severe financial crisis, with the collapse yesterday of yet another Stable Wind Farm Trust. The failed institution, Magna-SWIFT, is the largest thus far, with over $90 billion in assets. Rumors also continued to swirl about the condition of the Houston Power House, one of the nation’s largest clearinghouses specializing in weather and power derivatives. Experts warned that a major clearinghouse failure could have devastating implications...
...first cracks in the SWIFT model appeared in October of last year, with the failure of the relatively small Pro-SWIFT. Pro-SWIFT had an imprudently large fraction of its assets invested in a single Georgia wind farm, which was forced to shut down for two weeks over protests that its turbines were killing large numbers of local waterfowl. The resulting revenue loss forced Pro-SWIFT to sell assets in an effort to service its maturing short-term debt. Although only $10 billion of assets were liquidated, they fetched just 60 cents per dollar of book value. J.P. Morgan...
These losses were the first in the history of the SWIFTS, and they had a powerful effect. Creditors of other SWIFTs, awakened to the risks involved, began to refuse to roll over short-term loans. This has led to further liquidations, bigger fire-sale discounts, and a cascading effect. To date, over 50 SWIFTs, representing over $700 billion in assets, have failed. Yesterday, it was reported that Berkshire-Hathaway was in discussions to acquire Magna-SWIFT’s wind-farm assets for 30 cents on the dollar...