Word: resulting
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Dates: during 2000-2009
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...result of declining home prices, if a borrower defaults on their mortgage, market prices for the home would be less than the balance on the mortgage. However, since MBS derive their value from a pool of loans - typically thousands of individual mortgages - the default of some portion of the mortgages would not mean the security had no value, only a reduced value. Unfortunately, banks, in an effort to increase their investment returns, exacerbated the problem by using enormous leverage to purchase and securitize mortgage loans. Thus, even if MBS's value declined because of defaults, because...
...Under TALF, the Fed will only finance AAA-rated ABS. Investors are not given an incentive to purchase the riskier tranches. The result is that securitizers would have to keep the riskier tranches on their own balance sheet. And, given banks recent experience with this approach, it is unlikely that they will be eager to do so again. However, in the event a bank wishes to act as a securitizer, they will have no choice...
Bedardo Sola, a former subcontracted janitor who worked at Harvard, said in Spanish through a translator at the meeting that he was laid off on Mar. 13 from a job he had held for five years. His unemployment has left him without health insurance, he said, and as a result, surgery to correct his wife’s blindness will now cost...
...Even then, there was no action taken initially; eight months elapsed before the court declined to act, without explanation, even though the application was supported by the state's attorney general. But the day after federal charges were leveled against the two judges - the result of a long-running probe into links between the court and the youth-detention centers - the state supreme court reversed itself and appointed someone to clean up the mess...
...decision to pull Spain's troops from Kosovo seemed to be made both suddenly and without previously discussing it with Spain's allies. NATO Secretary General Jaap de Hoop Scheffer expressed his disapproval on Friday. "Any significant change in the size or structure of KFOR should be the result of a decision within the Alliance," he said through a spokeswoman. U.S. State Department spokesman Robert Wood went further, saying, "We are deeply disappointed by this decision taken by Spain." Coming almost exactly five years after Zapatero's decision to withdraw Spanish troops from Iraq, Chacón's announcement...