Word: rising
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...Here's how leverage works in reverse. When things go well, as they did until last year, Lehman is immensely profitable. If you borrow 35 times your capital and those investments rise only 1%, you've made 35% on your money. If, however, things move against you - as they did with Lehman - a 1% or 2% drop in the value of your assets puts your future in doubt. The firm increasingly relied on investments in derivatives to produce profits, in essence creating a financial arms race with competitors like Goldman Sachs. Even though the Fed had set up a special...
Disillusioned by the administration's corruption, Paulson joined Goldman's Chicago office in 1974. His rise in the investment bank was meteoric (he made vice president within four years), and in 1998 he became co-CEO alongside current New Jersey Governor Jon Corzine. Paulson presided over the firm's immensely profitable IPO in 1999 - an offering to which he had long objected - and reaped the dividends immediately. Overnight, his holdings in Goldman rocketed from $95 million to $315 million. Though his ascent to Treasury Secretary in 2006 was by all accounts a promotion, it was nonetheless a sharp blow...
...With the rise of affordable digital cameras, these days anyone can click a shutter and produce a technically competent picture. So it's appropriate that the first-ever Singapore International Photography Festival (SIPF), set to take place from Oct. 8 to 31, took an egalitarian approach to submissions. "Our curators went through a blind selection process, and to lower barriers to entry, we [decided to] undertake the printing of all the works," says Gwen Lee, the festival's director and founder of the 2902 photography gallery. It's a generous move by the not-for-profit festival, given that...
Economic gloom is the trademark of most newspaper headlines as of late. Oil prices rise and fall, but bear bad omens either way. The housing market continues to deflate. And in the midst of it all, a number of Wall Street’s most venerable institutions are disintegrating. No matter the cost to American taxpayers, and no matter what the path of one’s economic thinking, it is clear that in the case of Fannie Mae and Freddie Mac, and, now, American International Group (AIG), the Federal Reserve did what it needed to do to protect everyday...
Girl Talk’s popularity has been on the rise lately, and though many students have yet to hear of him, those who have said they were very excited to see him perform...