Word: mutually
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Dates: during 1990-1999
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...derives -- its value from underlying things that can range from the familiar (stocks or bonds or interest rates) to the exotic (gold in Ghana or copper in Mexico). Moreover, those underlying things can be sliced and diced in all kinds of ways. Among the most popular derivatives in mutual-fund portfolios are the so-called interest-only strips, which pay interest that comes from pools of government-backed mortgages. These strips became hot when interest rates fell below the level they were paying. But as interest rates rose higher, these securities became less attractive and plunged in value...
...Washington has largely contented itself with moves such as calling upon mutual funds to provide more disclosure of the derivatives they own or might consider buying. For example, the sec is mulling a proposal that would require funds to develop a standard way to measure the risks of a portfolio. Meanwhile, the General Accounting Office is urging regulators to tighten their scrutiny of derivatives dealers...
...Some mutual-fund critics want the government to go further and ban altogether the use of derivatives in money-market portfolios and other low- risk funds. "We've seen that derivatives are simply not appropriate for funds that are supposed to be invested conservatively," says Barbara Roper, % director of investor protection for the Consumer Federation of America. "The reason for the bailouts is an acknowledgment on the part of the companies, whether they would say so in so many words, that investing in those types of instruments was not appropriate...
Optimists like to call a market decline a "buying opportunity," and, with stocks down more than 50 points over the past two days, Citibank is making it easier to purchase stocks. The bank announced Wednesday that customers will be able to buy stocks, bonds and mutual funds through its 1,800 automatic teller machines in five major cities. The service is available today in New York City, Chicago and Miami. It will be in San Francisco and Washington by the end of the month. Citibank customers can use the ATMs to find out a stock's latest price, and then...
...their retirement, and they did not even sign it. It implied they and their followers were entitled to a "general amnesty" for the acts of repression that had left more than 3,000 dead since the 1991 coup. It treated men denounced as thugs as "honorable" officials worthy of "mutual respect." The blithe spirit that obliterated previous animosities even accorded a measure of legitimacy to de facto president Emile Jonassaint, 81, caricatured as the spineless puppet of the junta. No less than the President of the United States said, "I had the absolutely incorrect impression that Jonassaint was a figurehead...