Word: hooke
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...Here's the catch: If the bonds Strata insured against go bad, Strata is on the hook for the losses. And in a twist on regular insurance, the buyer of a CDS contract [i.e., the insured] doesn't actually have to own the bond. If the bond goes belly up, they get paid as if they had, pocketing the insurance payout as a profit, which of course would be a loss for the owners of Strata...
...homeowners were 60 or more days behind on their payments six months after receiving a modification. That re-default problem has received much attention as the national conversation has turned toward the idea of taxpayers standing behind modifications. "You wouldn't want the government to be on the hook for someone who borrowed a lot more in credit-card debt, or what have you, and then couldn't make their payments," OCC head John Dugan said in an interview with Bloomberg. (See pictures of Americans in their homes...
...wins the championship tournament on the largest professional bass-fishing circuit in the country takes that awfully sweet bait. But it's certifiably insane that someone else can sit on his or her butt and win a million bucks by predicting (actually, more like guessing) which fisherman will hook the biggest bass...
Madoff's greatest talent, the witness indicated, was his use of a "hook" or lure to play "hard to get" and the false security of exclusivity, a hallmark of a Ponzi scheme...
Kyoto's key failing was that it called on developed countries to make mandatory CO2 emissions cuts, while letting developing countries - including massive emitters like China - essentially off the hook, an inequality that has to be resolved if the world is to craft a new treaty at the U.N. global warming summit in Copenhagen in December. (See the top 10 green ideas...