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...agreement - think of it as a financial trade - the U.S. would buy an option to require China to lower its emissions below a certain agreed level. At the same time, Beijing would take out what amounts to an insurance policy to establish a minimum amount that Washington would pay Beijing if or when the U.S. exercised its option. The cost of Beijing's insurance policy and the cost to the U.S. of exercising its option on China's emissions levels would be set at roughly the same price...
...provide construction jobs and an influx of revenue, any boost would be short-lived. "To make a city prosperous, it's about brainpower, not block parties," says Tom Tresser, an organizer for the opposition group No Games Chicago. Though Mayor Richard Daley has promised that local taxpayers wouldn't pay a dime of the Games' estimated $4.8 billion cost, he's also signed an agreement with the IOC that puts the city on the hook for any excessive cost overruns - an Olympic tradition as common as crying. London, the 2012 host, is already on pace to spend more than...
...difference between stocks and bonds. When you buy stock, you get part ownership of a company. If it does well, you share in the gains. If it flounders, you lose money. Bonds, on the other hand, represent a promise from a company or government or other borrower to pay you back, with interest. When you buy a bond, you're making a loan. Sometimes bond issuers (a.k.a. borrowers) renege on their promises. The financial crisis originated with a rash of defaults on subprime mortgages that had been packaged into bonds. But the bond risks that vex Atteberry have little...
...what will retail investors do once bonds have burned them too? Atteberry thinks many will just put their money in the bank. The trade-off there is a measly return: the highest savings-account rate in the land is currently just 1.83%, according to Bankrate.com and most banks pay far less. Less than inflation. But hey, at least the money's safe...
...numbers for his past three pictures prove that: Bowling for Columbine, Fahrenheit 9/11 and Sicko have together earned more than $300 million worldwide. Not all this boodle can have come from people who agree with his populist-lefty agenda. No, they pay to see him play "Michael Moore": a heavyset fellow with a doofus grin, alternately laughing and badgering but perennially at the center of attention. For all his girth, Moore fits the mold of the little guy in classic Hollywood movies. Like Jefferson Smith and Rocky Balboa, he bucks the odds and takes on the power élite...