Word: forli
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The firm has come under increased scrutiny in light of allegations of acting against its clients’ interests by speculating against the housing market while continuing to structure mortgage-backed securities for investors.
On Feb. 22, 2007, Goldman managers directed traders to close out positions that bet on a decline in the housing market in order to reap large profits for the firm at a time when many investors were suffering huge losses from their exposure to real estate.
Harvard’s agreement with South Korea, which was originally signed in 1975, had to be renegotiated last year after much of the funds for that program—which was intended to support professors—went unused because the University had no plans to endow new professorships...
According to the e-mails, Harvard entered the $500 million credit default swap—essentially an insurance policy that would pay off in the case of mortgage defaults—with Goldman paying about 100 basis points, or $5 million, per year for protection against defaults.
“The powwow is a celebration of native songs and dance,” says Steven H. Abbott, Associate Director for Recruitment and Student Affairs at the Harvard University Native American Program (HUNAP). “It’s really about celebrating the community that?...