Word: grounde
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...Wall Street argues, albeit on weak ground, that the new model does in fact learn from the lessons of the last decade. In the mortgage-backed security market, subprime loans functioned as adversely selected “lemons,” and the mortgages most likely to fail were the ones most likely to compromise the integrity of the securitized assets. In this new market of life insurance securities, it is instead the healthy insurance candidates who are the liability. This time, to offer life insurance to the physically unhealthy—in other words, the “subprime?...
...videoconference call with his buddy George W. Bush. No longer. The Obama Administration cut Karzai's direct access to the White House earlier this year. The new Administration views Karzai's corrupt and flailing presidency as a big reason that the Taliban and al-Qaeda are regaining so much ground in Afghanistan...
...addition to the lost lives of two firefighters, 76 destroyed homes and thousands of evacuees, the fire's financial toll has climbed to nearly $45 million. That has been the cost so far of a ground and air assault on the nearly 160,000-acre Station Fire, as it has been called, with more than 4,000 firefighters working the fire lines and an air fleet of 12 helitankers, seven helicopters and 11 airplanes - including a Boeing 747 and a DC-10 - pouring thousands of gallons of fire retardant on blazing hillsides. Only heroic work by firefighters saved the historic...
Without access to the daily lives of teachers and their students, studies on Iranian schooling have proven to reveal more about their authors and our shifting preconceptions of Iran than any sort of reality on the ground. The truth is that postrevolutionary schooling in the Islamic Republic has not gone according to plan. The country's public schools face many of the same challenges as U.S. schools: a largely urban school system sagging under the weight of a too-large student population (two- and three-shift schools are not uncommon), poorly paid and demoralized teachers constrained by a highly centralized...
...capital. Locals recall a once lively trade in livestock from Armenia and textiles from Turkey. Work on renovating the cross-border rail lines is due to begin soon. Restoration of Armenian monuments at the ancient site of Ani is underway. "Once trade, human interaction and dialogue begin, finding common ground on more complicated issues will become easier," says Aybars Gorgulu of the Istanbul think tank TESEV. It will take time for Turkey and Armenia to overcome decades of mutual distrust. But the announcement of new peace talks is the first step in a long overdue healing process...