Word: investments
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...industries are alike in their greed, ambition, and self-interest. Collusion is in the best interest of both sides: Insurance companies are encouraged to drop health care, and policyholders know that mortality ensures an even bigger payout for Wall Street. And so who better than health insurance companies to invest in these new asset-backed securities? More than merely “killing Grandma,” now someone’s getting a fat check when she croaks...
Hopefully, the global economic crisis will resolve quickly, Harvard will invest in some bonds created from bundled life-insurance policies, and these impecunious days will fade into a distant memory. For now, the sweet aroma of pig fat draws me to the dining hall—thankfully, Harvard has enough sense to keep serving hot breakfasts on the weekends. But that just makes Mondays that much worse...
...perhaps the biggest nod to SEC culpability, the OIG report says the SEC's futile investigations of Madoff were ultimately used by Madoff as a means of reassuring clients that his operations were clean, and these "had the effect of encouraging additional individuals and entities to invest with...
...reform’s backers say empowering shareholders could help prevent another financial crisis, but according to Jay W. Lorsch, a Business School professor and signatory to the letter, the new reforms represent a continued effort by institutional investors to gain power and influence over the companies they invest in—a movement that predates the market crash...
...Three years ago, Gaddafi opted to invest his excess oil revenues in a sovereign wealth fund called the Libyan Investment Authority, which has rocketed in value thanks to soaring oil prices on the world market. The fund has about $65 billion in capital, part of which Libya has used to build five-star resorts in African capitals and to run Afriqiyah Airways, which crisscrosses the Mediterranean to European cities...