Word: masses
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Dates: during 2000-2009
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...back to be beginning, to being a do-nothing. At this point, there is a greater risk from mass redemptions - like a run on the bank - than there is from a rash of money funds declaring that their assets have gone bad. Money market funds are designed to be low risk, and by law are allowed to invest only in government bonds, certificates of deposit, short-term IOUs issued by companies, and other highly liquid securities - though, unlike the similarly named "money market deposit accounts" found at many banks, they're not FDIC-insured...
...Root of the Problems Warren Buffett, the nation's most successful investor, back in 2003 called these derivatives - which it turned out almost no one understood - "weapons of financial mass destruction." But what did he know? He was a 70-something alarmist fuddy-duddy who had cried wolf for years. No reason to worry about wolves until you hear them howling at your door, right...
...hold bank products like CDs. On Sept. 16, however, there was an event in the normally unexcitable world of money-market funds. Because of a loss on Lehman debt, a money fund marked its share value below $1--sacrilege for an investment meant to be akin to cash. A mass redemption followed. If more money funds "break the buck," you may be tempted to move to FDIC-insured accounts. Just keep in mind that they might yield less, and only one money market has ever been liquidated...
Last February, Harvard got introduced to a peculiar undergraduate with an even more peculiar plan when Matt di Pasquale ’09, a would-be collegiate Hugh Hefner, sent out a mass e-mail calling on “all hot Harvard girls” to bear their souls and bodies for his new magazine, Diamond. Well, now we know him better. Seven months later, the first issue of Diamond has hit the shelves and the results are astounding. Diamond is something like a journalistic version of the one-man-band: In this drama, di Pasquale is judge, jury...
Harvard students braved a long line on Mass. Ave. yesterday to get their hands on free homemade ice cream at J.P. Licks. The local company, which has eight locations throughout the Greater Boston area and moved into Harvard Square early this summer, created the promotion to appeal to college students returning to the city for the start of the new school year. Ice cream enthusiasts, bearing their ID cards to prove that they were students, endured a lengthy wait and unseasonably cool weather—but their excitement suggested that the free ice cream would be ample compensation...