Word: massing
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...losing so much. Most of AIG's losses have been attributed to its failing positions in credit-default swaps (CDSs). Essentially, AIG is swapping cash flows with other institutions: those banks pay AIG a small sum on a regular basis, and then under certain conditions - like mass foreclosure or corporations' defaulting on their loans - AIG pays out a large sum. In other words, AIG sold insurance; its problem is that it is paying out too much...
...cost-cutting plans have terrified Opel's 26,000 workers in Germany. Over the past month, rumors of mass layoffs and plant closures have been swirling in the German media. Union leaders are clamoring for a quick decision on the bailout. But Chancellor Angela Merkel's government wants guarantees that any cash that it doles out will not flow back to GM's embattled operations in the U.S., or go down the drain if GM goes bust. (Read a TIME story on Germany's auto industry...
Location: Underrated. A short walk from Starbucks on Mass. Ave, less so from the 24/7 Shaw's and CVS in Porter Square (yes, an entire T-stop away). It really isn't so bad. Sure, your life revolves around the whims of the shuttle and its tendencies to just pucker out when you are already running late, but—oh wait, there is no but. Did I mention the muggers' hangout also known as Cambridge Common...
...this as Harvard reneging on a promise,” as it was necessary to vacate the building for environmental reasons. “Am I happy that the Bence Building is basically vacated? No. This is not a good thing for Mass Ave., or the community, but the goal is that Harvard will bring retail back there,” he said. “I’m going to take Harvard on its word.” -Staff writer Sofia E. Groopman can be reached at segroopm@fas.harvard.edu...
...Harvard Collegium-Musicum performs 20th century classical choral scores "Frank Martin's Mass" and "Songs of Love and War" on Friday night (8 p.m.; Sanders Theatre; Students $10, through the Harvard Box Office or online...