Word: scenarios
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Even worse is a scenario in which one institution's troubles spread through the system. While that nightmare may be less likely than the first, it is the one that most experts are concerned about. Example: a major U.S. bank that deals in derivatives thinks it has covered all its bets around the world. But an unforeseen event, such as an earthquake in Tokyo or a coup in Latin America, sends markets crashing in some area. The bank's finely tuned hedging strategy is thrown off balance, and it has no choice but to default on its contracts. A whole...
...Such a scenario is what prompted the New York Stock Exchange in 1988 to add circuit breakers that temporarily halt automated transactions when the Dow Jones average rises or falls more than 50 points in a day. But even if the mechanisms work temporarily, some experts caution that all the computerized derivatives and other vehicles that Wall Street has developed since the Crash of '87 could keep shell-shocked buyers from returning to the market, out of fear of a new wave of selling. "A circuit breaker shuts off the overload," says Bruce Greenwald, a finance professor at the Columbia...
...mortgage, car-purchase and credit-card loans. Tyson, however, thinks any such effect would only balance forces that may be working for a faster expansion, keeping growth at the overall desired, moderate, low-inflationary 3% -- at least for the rest of the year. That of course is the optimistic scenario. The pessimistic one? Well, there is an old joke about the store owner who was miffed that no one would ask him, "How's business?" -- but when he finally did prompt someone to raise that question, clapped his hand to his head and moaned...
...does so, the court could issue him arestraining order preventing his removal fromoffice until the constitutional question'sresolution. In this scenario, Cambridge would haveone of its city councillors governing from aprison cell...
...first saw her on a dawning Saturday morning in the basement of the Science Center. The four plastic bags which she carried with her bulged with items of clothing and personal-care accessories, cans of food and old newspapers. She seemed like an escapee from a nightmare scenario by Maurice Sendak...