Word: offs
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...Citigroup all had large amounts of mortgage bonds or real estate investments that they had parked on or off their balance sheets - but were responsible for. They were chasing the same higher yields that all their investing clients were. Those investments comprised the greatest part of those firms' write-offs. Those weren't client-driven trades. They decided to take them themselves. The idea that proprietary trades were a trivial part of the losses at the banks is just not realistic. (See 25 people to blame for the financial crisis...
More problematic is NASA's planned abdication of its role as a developer of manned boosters and spacecraft. Instead, it will become a shopper, and leave the designing and metal-cutting to the private sector. To an extent, this has always been the case. The first Americans to orbit the...
Taken at face value, the accord pledges demonstrate an international will to act on global warming and energy, even in the absence of a true international treaty. "All the major economies are off and running," says Keya Chatterjee, acting director of the U.S. World Wildlife Fund's climate-change program...
For a week in mid-February, the Harvard community will have one more way to witness the exchange of virtue for self-liberation—and this time it won’t just be your roommate shaking off the January blues. Instead, this spectacle comes in the form of...
The opera tells the story of an English town that, frustrated in its unsuccessful attempts to find a girl virginal enough to wear the May Queen’s crown, decides to give the position to the timid and naïve Albert Herring. This unexpected turn sets off a...