Word: offsets
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Dates: during 2000-2009
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...like other institutions, was making a mint dealing in derivatives tied to the U.S. real estate market. The boom was financed in part by collateralized debt obligations (CDOs), securities based on subprime mortgages that have come to define toxic asset. Companies that held CDOs could offset their risk by buying CDSs from AIG FP. Or they could simply speculate with the instrument. It all worked fine until overbuilding by housing firms and overleveraging by consumers caused the bubble to burst. Which in turn caused the value of CDOs to plunge. Which caused holders of CDSs on such securities to demand...
...Verdict: Junk.* Cabot may fall short of the spirit of some River Houses, and lacks the party reputation that Currier has so carefully cultivated, but it offers a peaceful, reliable shelter from the bustle of Harvard Square proper. Whether that’s enough to offset the many missed shuttles caused by the dining hall’s erratic digital shuttle schedule is a question with which new residents will be forced to grapple?...
...Having the Senate Budget Committee leaders involved in the talks is especially noteworthy, as it suggests the group is grappling with the issues of PAYGO - a requirement that all new spending be offset by reductions to avoid adding to the deficit. Their presence could also indicate that the group is considering moving the final bill through budget reconciliation, the end-of-the-year budget bill that needs only a simple majority of 50 votes to pass the Senate, thus avoiding a potential GOP filibuster. Republicans have repeatedly warned Democrats against trying to pass health care in that fashion, saying...
...outlines of such a budget can be found at AmericanSolutions.com. Our 12 American Solutions for Jobs and Prosperity include creating a temporary new tax credit to offset 50% of the payroll tax (helping both workers and small businesses), cutting the business tax rate to 12.5% to match Ireland's, and reducing the 25% marginal income tax rate to 15%, effectively establishing a flat tax rate of 15% for almost 9 out of 10 American workers. These steps would put more money into the hands of American businesses and consumers faster than any stimulus plan that has to disburse money through...
...thin. It has taken on obligations to assist many of its largest financial institutions, aid hundreds of thousands of homeowners, create jobs through an economic stimulus package, and give a large portion of the working population tax cuts. Wealthy citizens and corporations will be required to pay more to offset these obligations. This income will only make a difference if these sources have more to pay. A deep recession can be a great leveler...