Word: germanic
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Dates: during 1990-1999
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...American corporations and other prospective investors faced risks ranging from exchange-rate fluctuations to possible political coups. To underwrite the hazards, Wall Street began issuing over-the-counter derivatives contracts, which investors snapped up as security blankets. Such deals could be as simple as an agreement to buy German marks in six months' time at today's prices, or as Rubik's Cube-like as a single contract that covered the purchase of European bonds together with the sale of several foreign currencies and the acquisition of an option to buy U.S. dollars...
This happened to the German metals and mining concern Metallgesellschaft last year after it charged into the derivatives market. The company bought oil futures for a subsidiary -- just before oil prices collapsed -- leaving it < with $1.3 billion in losses and triggering a national scandal. Prosecutors have been investigating the role of fired CEO Heinz Schimmelbusch, who has denied doing anything wrong. Nonetheless, bank creditors demanded the layoff of 7,500 ofMetallgesellschaft's 46,000 employees and the sale of several divisions as the price for rescuing the company...
...Damon German is a resident tutor in Winthrop House...
...work., Conjectures as to why this is so range from the competing personalities of a international all-star cast (Jeremy Irons, Meryl Streep, Glenn Close, Winona Ryder, Vanessa Redgrave, Antonio Banderas, and the list goes on), to the diverging interests and interpretations of a Danish director (Bille August), a German producer (Bernd Eichinger) and a Chilean novelist...
Other recent Commencement Speakers include Norwegian Prime Minister Gro Harlem Brundtland, West German Chancellor Helmut kohl and Chair of the Joint Chiefs of Staff Gen. Colin L. Powell...