Word: profiteer
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Harvard will be audited by the Internal Revenue Service as part of the government's efforts to review practices at non-profit organizations that take advantage of tax exemptions...
Early on, the majority of people seemed to heap the most blame on barely regulated financial products, like credit-default swaps, which brought down AIG; mortgage brokers and their lax lending standards; and Wall Street bonus checks that rewarded short-term profits over prudent business decisions. Goldman Sachs, too, has come under intense scrutiny since the financial crisis, in part because of its ability to quickly turn around and seemingly profit from the mess...
...have had to sock away more and more cash into their reserves to account for their growing number of bad loans. That's caused earnings to plummet. With loans falling, reserve ratios - the measure of reserves to loans - are growing. That means banks will be able to divert less profit into those rainy-day accounts, which should boost bottom lines...
...addition, Tenenbaum's defense team argued that the statutory damages awarded by the jury were "grossly excessive," since Tenenbaum as an individual caused the plaintiffs no provable injury and acted without malicious or profit-seeking intent...
Given all the crosscurrents, what will the investor's world look like in the years ahead? In a new-normal world, growth will be half of what it was, profit growth will be half of what it was, and returns on almost all assets - including bonds - will be half of what we've grown used to. Further, the U.S. economy and other [developed] economies have provided as a whole 7% to 9% returns over the past 10, 20 years, and investors got used to that. That's one of the reasons why states and pension funds with the long-term...