Word: mutualized
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...subjected to the same kind of risk controls or oversight. This process began in the 1970s, as the rigid New Deal approach of segmenting financial institutions into narrowly defined boxes began to crack under the pressure of inflation, globalization and floating exchange rates. The money market mutual fund, invented in 1971 as a way to get around federal limits on savings-account interest rates, was among the first of many innovations that undermined the old ways...
...terms of the stocks it holds (China Telecom and Bank of China, among others), but it hasn't been safe. China's stock markets have fallen by 63% this year. Alerted to the severity of the slide by one of her investment-club friends, Zhu checked on the mutual fund earlier this week as Shanghai's stock index plunged below the 2,000-point level for the first time in nearly two years. Zhu was stunned to see that her investment had lost nearly...
...start with annuities and life insurance. If you have a variable-rate annuity, your money is most likely in mutual-fund-like sub-accounts. You own those sub-accounts, as you would own stocks through a brokerage. Those are your assets - a creditor won't be able to touch them...
...have a mortgage with Washington Mutual - or Wachovia - and now I see hear talk about those companies, too. Should I be worried...
...athletes make money is through pro-am tournaments. A player is teamed up to play a game with a corporate partner, the goal being that after a couple of putts, funny anecdotes, and friendly slaps on the back, sponsors will be buttered up enough to donate. The system requires mutual understanding on both sides. Unfortunately, a nice, shy Korean-speaker with an interpreter isn’t the ideal candidate for this kind of buddy-buddy fundraising. Nor will she rack up viewers in interviews on the major television networks, another large source of sponsorship. From a strictly business perspective...