Word: holdes
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Think again of the insured house. Many institutions hold insurance on the house; on the other side are insurance companies and the like making an opposite bet. If the house is destroyed, one group of institutions wins and the other group loses. Considering all institutions together, no money was truly lost - it's what economists call a zero-sum game. In good times, risk-hungry banks loved this game, but now they have become risk-averse, and the game seems to have changed. So how can many of the banks simultaneously claim enormous swap losses without a single bank claiming...
Alternatively, if hedge funds hold significant positions, then it is possible for the banking industry as a whole to net a loss on swaps. That loss would be the hedge funds' gain. This means the bailout is ultimately saving the hedge funds...
Those students more concerned with securing a room to hold their group’s meeting will also be encouraged by the report, which found a need for more social spaces on campus. The limited availability of common spaces for meetings, events, or just relaxing is truly detrimental to social life on campus. We agree with the suggestions of more grilles, theaters, and gyms and hope that these types of spaces are given serious consideration in renovation plans...
...force examining alternative social spaces on campus, while raising the possibility that the UC might pay for property to give students recreational opportunities in the future. The new task force will be staffed by six Council representatives, including UC President Andrea R. Flores ’10, and will hold meetings open to all interested students in anticipation of presenting its findings to the Council on April 12. “We are going to employ every option that we have to secure an alternative social space,” said Flores, adding that the purchase of property...
...countless others of equal religious importance - is any role for government. There is no baptism certificate issued by the local courthouse and no federal tax benefit attached to the confessional booth, the into-the-water-and-out born-again ceremony or any of the other sacraments that believers hold sacred...