Word: instrument
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...breadth, with 52 percent of the vote (150 people). In-house had 48 percent of the vote (136 people). But HoCo opted to ignore the majority ruling, deciding to conduct an in-house formal anyway, because it was more “economically feasible." Ahh, how the noble instrument of democracy is scorned...
...Last year AIG admitted that the company's Financial Products division entered into credit default swap agreements with banks that bought and securitized loans. CDS are a financial instrument that mimics the characteristics of an insurance contract. These instruments were most exposed to risk when the securitization market blew up following the housing market collapse. Not only is the company almost entirely owned by the government, but many of the executives receiving the bonuses are the same executives that marketed the CDS agreements that caused its downfall. (Read "Treasury Learned of AIG Bonuses Earlier Than Claimed...
...with one side mirror. But it's not simply a stripped-down car. The shell was designed to be rigid with less material, and the body panels are made out of Japanese and Korean steel, giving the exterior a high-gloss look and feel. Delphi designed a streamlined instrument cluster that weighs just 14 oz. (400 g), compared to 2.2 lb. (1 kg) for the models it sells in North America and Europe. These and dozens of other refinements yield a car that weighs just 1,322 lb. (600 kg), less than half the weight of a Honda Accord. Reducing...
...mixes hit pop songs and familiar classics, many of the YouTube clips selected by Kutiman, when viewed apart from one another, are ... well... bunk. Who wants to watch - or, for that matter, hear - a vintage fire siren wailing away on a piece of plywood? Or a Cuban percussion instrument made from a gourd. OK, that one is kinda cool, but footage of a trombone recital recorded by an unsteady, possibly intoxicated cameraman? No, thank you. In the Israeli maestro's hands, though, such raw material becomes ... well... awesome. See for yourself...
...real estate market. The boom was financed in part by collateralized debt obligations (CDOs), securities based on subprime mortgages that have come to define toxic asset. Companies that held CDOs could offset their risk by buying CDSs from AIG FP. Or they could simply speculate with the instrument. It all worked fine until overbuilding by housing firms and overleveraging by consumers caused the bubble to burst. Which in turn caused the value of CDOs to plunge. Which caused holders of CDSs on such securities to demand payment from...