Word: losses
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Dates: during 2000-2009
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...like AIG, Freddie has had to go back to the government a number of times with cup in hand. The mortgage giant has already received $14 billion in government aid. After a fourth-quarter loss of $24 billion, the company said it needed an additional $31 billion from the government to keep the lights...
Another bet that didn't pay off for Freddie was on interest rates. The firm's managers bought derivatives that would pay out if interest rates rose. Instead, a global financial meltdown has caused interest rates to plummet. That resulted in a $15 billion loss for Freddie from its hedges...
Alternatively, if hedge funds hold significant positions, then it is possible for the banking industry as a whole to net a loss on swaps. That loss would be the hedge funds' gain. This means the bailout is ultimately saving the hedge funds...
...problem with keeping the swaps on the banks' books is that their potential payoff or loss is random, depending on the particular details of the contract and various outcomes in the world. Moreover, banks today are risk-averse and often factor worst-case scenarios into current pricing. Thus, they are far more likely to claim losses than profits on such instruments...
...ourselves in,” Blackwell said. “If we respond by trying to blend in, we lose.” Blackwell targeted Republicans who had “campaigned like Ronald Reagan and governed like Jimmy Carter,” as the primary reason for the loss of confidence in the political right. He encouraged a return to an ideology of faith, free-market Capitalism, and individual liberty. Blackwell framed his speech in the context of a growing threat to the American way of life. He called the Democratic Party’s current initiatives...