Word: powerfully
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...Brown faces what is rapidly becoming a severe financial crisis, with the collapse yesterday of yet another Stable Wind Farm Trust. The failed institution, Magna-SWIFT, is the largest thus far, with over $90 billion in assets. Rumors also continued to swirl about the condition of the Houston Power House, one of the nation’s largest clearinghouses specializing in weather and power derivatives. Experts warned that a major clearinghouse failure could have devastating implications...
...SWIFT industry’s explosive growth dates to the beginning of the Palin Administration in 2017. Spurred by President Palin’s aggressive subsidies to clean-energy sources and a series of technological breakthroughs, wind power quickly displaced almost all other forms of energy. The huge scale of wind-farm construction—the total value of wind farms worldwide exceeds $5 trillion—was facilitated by the innovation of the SWIFT structure. A SWIFT is a specialized investment fund that holds a broadly diversified portfolio of wind-farm assets. These assets generate revenues that are tightly...
...transparency to derivatives trading. But this industry has become more fragmented than originally envisioned, and some argue that competition among clearinghouses has led to a “race to the bottom” whereby the clearinghouses require insufficient collateral from the SWIFTs they deal with. The Houston Power House is said to have large, uncollateralized exposures with Magna-SWIFT, and observers estimate it could lose $8 billion from these exposures alone. Power House Chief Executive Officer Fabrice Tourre was unavailable for comment...
...admit that we held some high expectations for you seniors going in. You were supposed to resist traditional consulting to go into non-profit consulting. You were supposed to wrest the seat of power from old white men and give it to young white men. I was also expecting more of you to get fluent in Spanish. I guess I shouldn’t be mad, just disappointed...
...Adam Smith’s great books to a selection of Harvard’s brightest students in Social Studies 10. Each year, I wondered who among them might end up on the Supreme Court, or even in the presidency. My hope is that, when they attain positions of power, they remember what Smith had to teach them, not only about economics, but also about empathy...