Word: houstonic
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...Scott P. Brown faces what is rapidly becoming a severe financial crisis, with the collapse yesterday of yet another Stable Wind Farm Trust. The failed institution, Magna-SWIFT, is the largest thus far, with over $90 billion in assets. Rumors also continued to swirl about the condition of the Houston Power House, one of the nation’s largest clearinghouses specializing in weather and power derivatives. Experts warned that a major clearinghouse failure could have devastating implications...
...stability and transparency to derivatives trading. But this industry has become more fragmented than originally envisioned, and some argue that competition among clearinghouses has led to a “race to the bottom” whereby the clearinghouses require insufficient collateral from the SWIFTs they deal with. The Houston Power House is said to have large, uncollateralized exposures with Magna-SWIFT, and observers estimate it could lose $8 billion from these exposures alone. Power House Chief Executive Officer Fabrice Tourre was unavailable for comment...
...Adams HoCo Co-Chair Samantha L. Houston '11 explained in an e-mailed statement, "Adams House likes a prank as much as anyone. However, given the duration of the gong's absence without a clue regarding its location, this prank has became theft. We will file a police report if the gong is not returned to our House Administrator's office by Thursday morning...
...changes to American society due to outsourcing, one in particular has recently raised eyebrows: the delegation of paper grading at some colleges to companies that work in India and Malaysia. This particularly worrisome trend received media attention when the practice was adopted in a University of Houston class, and brings up concerns about the quality of contact that students are receiving in large classes...
...addition to the general concerns about this trend in outsourcing, we have further doubts about the specific firm used by the University of Houston professor in question. While the company, based in Virginia, asserts that all of its “assessors,” or graders, hold master’s degrees and must pass written exams before they are employed, it refused to give specific information on the graders’ educational backgrounds. The firm insists that “the proof is in the pudding” when it comes to the success of their assessors...