Word: swapped
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Dates: during 2000-2009
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...rotten time to be a banker. Whether their fingerprints are on a single credit default swap or collateralized debt obligation or not, financiers are being fingered for blowing up the global economy. The assets they traded are "toxic" and their bonuses "obscene." And members of the public, it seems, are fed up with the lot of them. In a leaked security memo sent to staff last week, bosses at AIG warned workers to keep an eye out for aggressors amid the "growing sense of public attention fueled by increased media scrutiny." AIG employees were advised to ditch AIG apparel...
...Last year AIG admitted that the company's Financial Products division entered into credit default swap agreements with banks that bought and securitized loans. CDS are a financial instrument that mimics the characteristics of an insurance contract. These instruments were most exposed to risk when the securitization market blew up following the housing market collapse. Not only is the company almost entirely owned by the government, but many of the executives receiving the bonuses are the same executives that marketed the CDS agreements that caused its downfall. (Read "Treasury Learned of AIG Bonuses Earlier Than Claimed...
This is a trade that works well for Anglesea and many like him. After all, time is money, and community-minded individuals may be happy to give whichever of the two they are better able to spare. But the time-money swap, which is washing over the charity world like a tidal wave during this recession, poses stiff challenges for nonprofits. They can't pay the rent with volunteer hours. One in two nonprofits says its funding has fallen, according to "The Quiet Crisis," a new report by Civic Enterprises, a social-issues think tank. When the economy was this...
...life senteces for multiple killings. This pains Israel because it means that terrorists "with blood on their hands," as the Israeli press says, will be set free to possibly strike again. As one minister said, "When the names of these terrorists are released, the earth will shake." A prisoner swap would also be a boon for Hamas because it would be seen as a political victory and strengthen its position in power-sharing talks with its rival, Palestinian Authority President Mahmoud Abbas, who is backed by the United States and is acceptable to Israel...
...Monday morning, hundreds of Israelis milled around the Shalits' protest tent, hoping to meet the captive soldier's father, Noam, a shy, earnest man who swallows his revulsion at the media circus in hopes that it will prod outgoing Prime Minister Ehud Olmert into agreeing to a prisoner swap with Hamas' Islamic militants so that his son will be freed. (See how Hamas is becoming harder to ignore...