Word: result
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...intentions were good. Ratings were a tool for assessing the safety of financial institutions. But the result has been to create a system in which getting a rating of a particular level is equivalent to "a regulatory license - a key that unlocks the markets," says Frank Partnoy, a law professor at the University of San Diego. In 1975, the SEC, in an effort to better define who was a legitimate rater of bonds, designated certain firms "nationally recognized statistical rating organizations" (NRSROs). Today, if you are a bank or a pension fund or an insurance company you have a firm...
...Dispatched to the consolation round, Caputo found himself face-to-face with growing nemesis Phil Keddy from Iowa. Caputo dropped two bouts this season to Keddy and NCAA’s brought a familiar result. Caputo suffered a heartbreaking 2-0 defeat, sending him to the seventh place bout, where he fell in a rematch with Patterson. But considering the difficulty of earning All-American honors in the wake of a devastating injury, Caputo expressed enthusiasm for the result...
Fritzl, Josef • sudden realization of that decades-long imprisonment in fetid basement dungeon by of daughter of (and, as time passed, of three of the seven children she'd borne as a result of thousands of rapes by) was "cruel...
...fund the force during wartime, they'll turn that spigot off as soon an uneasy peace emerges. "Yet, the Afghan government is very unlikely to be able to pay these costs itself even if we make optimistic assumptions about economic growth and government revenue extraction potential," Biddle says. "The result could easily be a postwar Afghan security force too large to pay and also too large to demobilize safely." Historically, he warns, that leads to trouble. "Situations like this can easily produce a coup d'etat or civil warfare," Biddle says. "Unless we're very careful about this, too large...
...Blumenthal had voluntarily closed down The Fat Duck for two weeks - losing an estimated $145,000 as a result - while testing was carried out. After getting the all-clear from authorities, he reopened it on March 12, but kept seafood off the menu, just in case it would prove to be the culprit. The three-star restaurant is known for its inventive menu that includes scrambled egg and bacon ice cream, and snail porridge. Its 17-course set menu costs $180 and can take three hours to complete. (See pictures of the perfect steak...