Word: holding
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According to TIME calculations, U.S. banks hold $153 billion in residential mortgage bonds that used to have AAA ratings but have since been downgraded. The calculations are based on numbers from the International Monetary Fund, Fitch Ratings and New York University professor Nouriel Roubini. (Treasury and Federal Reserve officials declined to provide their estimates.) To get those selling, the Fed offers some attractive financing, but it hasn't made those details public and the financing is expected to be considerably less favorable than the FDIC rates. Treasury officials insist they have formulas worked out but are waiting to reveal details...
...Asset backed securities ("ABS") gave banks the opportunity to bundle loans into a pool that could then be sold to other banks. The bank purchasing the loans would then hold them as an investment or resell them in the secondary market. This market improved the ability of banks to lend by transferring the risk of the loan default to a third party while providing financing to the bank to make new loans. In time, the public grew accustomed to the increased availability of credit. (See pictures of the printing of money...
...rise in sales does not represent a bottom at all. It is more likely that any movement of buyers into the market will cause desperate sellers to offer homes at lower and lower prices rather than hold onto houses that they cannot afford and may not make money on even if they could hold them for another decade...
...that - it's much thinner on the label side than it is on the other side. If you scratch the clear side, you can kind of polish it out. But if you scratch the label side, you're screwed. This is why jewel cases are designed to hold CDs in the air and stop [both sides] from touching...
After weeks of playing sudoku with match schedules and wrangling with the Indian government over scheduling clashes with the upcoming general election, the powerful Board of Control for Cricket in India (BCCI) announced Sunday it would hold its billion dollar Indian Premier League (IPL) outside India. The decision marks an unexpected climax to a weeks-long dispute between the BCCI and the Indian Home Ministry. Dates for the IPL, which features the best players from around the world, had long been set for April and May, the only time available for a 45-day tournament during the 2009 cricket calendar...