Word: loan
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...Barings' Khiem says, a lack of information. It all started as a problem that seemed both predictable and containable: U.S. borrowers with bad credit history started (surprise, surprise!) defaulting on their mortgages. But that meant trouble for more than just the mortgage company or the bank that made the loan originally. Since the 1980s, individual mortgages have been packaged into bundles (so-called mortgage-backed securities) and resold to investors. Soon after came so-called derivatives, exceedingly complex investments that often trade based on the relationship between two or more underlying markets - mortgage-backed securities, say, and 10-year Treasurys...
Look at all financing options. Before raiding your 401(k), ask friends and family to invest or lend money. They'll give you the best rate in town and won't break your legs if things go bad. See if you qualify for a Small Business Administration loan. If you tap your home equity, you'll risk losing the house. Better to draw down your retirement savings--after all, it's your money, so you won't owe anyone interest and can use any cash flow to grow the business...
...1980s and 1990s when factories making their toys and tennis shoes moved to Mexico or China. Customers are unlikely to care-or know-whether their computer program was written in India or the U.S. For customers, it doesn't make much difference if their tax preparer, telephone operator or loan processor wears a sari and works in Delhi or wears a baseball cap and works in Baltimore...
Because the world economy is so strong, times are still good for business in general. Recent jitters in the riskier parts of the bond and loan markets may slow the private-equity boom (private-equity firms use borrowed money to purchase the likes of Chrysler and Hilton) but don't necessarily presage a crash. The Federal Government, which gets an ever higher percentage of its revenue from the minority of taxpayers who are profiting from the global boom, is making out O.K. as well. But the era of easy money, when ordinary Americans could count on borrowing their...
...maximize the returns and the valuation for our investors." Carl Icahn more recently suffered a similar predicament when shareholders rebelled against his offer for auto-parts maker Lear Corp., forcing him to cough up more cash. And several PE financings have flopped because investors balked at the lenient loan terms...