Word: problems
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...something to help the North Koreans.” For much of the talk, Kim read passages from his book on topics ranging from the young North Korean refugees, whom he called “child warriors,” to North Korea’s sex trafficking problem. He recalled one trip when he took four North Korean teenagers from the border to the consulate in Shanghai where he knew they could be temporarily protected. “They have endured what the [United Nations] has labeled a modern-day famine in North Korea...
...party enthusiasts claim that the tea parties were supposedly a spontaneous, nonpartisan, grassroots movement fashioned after the Boston Tea Party of Dec. 16, 1773, when disgruntled colonists tossed tea into Boston Harbor to protest taxation without representation. The only problem is that the tea parties of Tax Day 2009 were neither spontaneous nor, in fact, very much related to the original tea party...
...Andrew Cuomo, for example, announced an agreement with rating agencies in June in which issuers simply pay for rating agencies to review the securities with no requirement to produce a rating. Relieving this pressure to produce could foster objectivity and minimize conflicts of interest. In that case, though, the problem of being paid to judge your boss’s daughter, so to speak, still remains. The Cuomo plan does not change the “corporation-paid” model and its attendant conflicts of interest...
...John Moody anticipated this problem when he published the first Moody’s Analyses of Railroad Investments in 1909. Moody prefaced the book with a note about its scope, cautioning that it was “in no sense a ‘manual’” and instead a tool to enable investors to “analyze the conditions back of all security values.” Like his future competitors, Moody specifically intended his credit ratings to enable analysis rather than be ends in themselves. Nonetheless, by 1970, when the firm switched...
...problem here involves both agencies like Moody’s, with its horde of analysts, and the investors they inform—and so does the solution. It evidences a broader issue that technology and innovation bring to all facets of life: carelessness. If you can find the answer by searching Google or glancing over a Wikipedia article, why read a book? If you can rely on a credible rating for a complex financial security, why do further research? In a narrow sense, the lack of context attendant in these bursts of data leads to small errors...