Word: resultingly
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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...
...Thousands of sea otters, seals and eagles and a quarter of a million seabirds died as a result of the spill, one of the worst ecological disasters in history, and the populations of those species have yet to fully recover. The lucrative herring and salmon fisheries are still damaged - by one estimate, the spill cost local fishermen nearly $300 million. "On the surface, Prince William Sound looks like it has regained its majesty," says Keith Colburn, an Alaskan fisherman and one of the stars of the reality TV series The Deadliest Catch. "But below the surface it's completely different...
...industry uses seismic blasts as part of initial exploration, and environmentalists fear that sound waves could harm nearby fish. But if there were an accident on the scale of the Valdez in Bristol Bay, where more than 40% of all wild seafood consumed in America is caught, the result would be not just an environmental disaster, but also an economic one. The Bristol fisheries bring in over $2 billion to the Alaskan economy annually - losing the bay even for a short time because of a spill would be "devastating," says Colburn. "We don't know the impacts on juveniles...
...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...