Word: spreads
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...climate of deregulation that dominated the Bush-Greenspan years helped the spread of a new banking model. At its core was securitization: mortgage brokers originated mortgages that they sold on to others. Borrowers were told not to worry about paying the ever mounting debt, because house prices would keep rising and they could refinance, taking out some of the capital gains to buy a car or pay for a vacation. Of course, this violated the first law of economics - that there is no such thing as a free lunch. The assumption that house prices could continue...
...problems are ricocheting back. The bad mortgages are contributing to forcing many European banks into bankruptcy. (We exported not only bad loans but also bad lending and regulatory practices; many of Europe's bad loans are to European borrowers.) And as market participants realized that the fire had spread from America to Europe, there was panic. Part of the concern is psychological. But part of it is because our financial and economic systems are closely intertwined. Banks all over the world lend and borrow from each other; they buy and sell complicated financial instruments - which is why bad regulatory practices...
...revival scarab jewels; and the images of the flaps of skin on lizards beneath the chins of males (known as dewlaps) contain rich colors and bumpy textures more complete and expressive than a painting by Roy Lichtenstein. Some of the most fun elements are in the various media boxes spread throughout the exhibit. One for the zebra explores how the types of stripes vary between the three species. It explains the purpose of the variations, such as the stripes’ ability to break up the outline of any one individual to confuse predators. The “Showing Your...
...become the voice of ordinary passbook holders. Bair was front and center with Treasury Secretary Hank Paulson and Fed boss Ben Bernanke when they announced plans to recapitalize the U.S. banking industry. But the three aren't always in perfect alignment. As guarantor of Americans' $4.5 trillion in deposits spread around in some 8,500 U.S. banks, Bair is trying to balance both the needs of depositors like the storied Mrs. Lobsiger and those of big-name players like Citigroup who help generate much of the economy's torque...
...quarterback Nathan Ford has been forced to throw the ball 116 times in just his last two games. It just barely worked against so-so Lehigh two weeks ago, but last week’s 38-17 loss to Harvard should convince Cornell coach Jim Knowles to spread the wealth...