Word: swaps
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Dates: during 2000-2009
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...meet. These new victors of the high-school slaughtering grounds, these new members of the educational elect congregate here to share their varying shades of ecstasy at the news of their admission. It is a happy affair: they revel in the stories of their classmates-to-be and swap anecdotes about the euphoria of receiving an email with news they had been waiting, in some cases, a decade to hear. But splashed across these ecstatic electronic conversations are the worrisome seeds of hubris which may someday metastasize into the harsh misery of missed expectations...
...better and for worse - to the past, the Masters has a gift for reinventing itself and embracing technological innovation. The tournament uses manual, not electronic, scoreboards, while simultaneously running a website offering up-to-the-second updates. Sandwiches at the venue cost no more than $2.50, even as tickets swap hands for hundreds outside the gates. Spectators are kicked off the property if caught using a cell phone, even though buried under the course's fairways are thousands of feet of high-definition television cable, irrigation pipes wired to an on-site weather radar, and automatic suction systems designed...
...Bear Stearns careened toward its eventual fire sale to JPMorgan Chase last weekend, the cost of protecting its debt, through an instrument called a credit default swap, began to rise rapidly as investors feared that Bear would not be good for the money it promised on its bonds. Not familiar with credit default swaps? Well, we didn't know much about collateralized debt obligations (CDOs) either - until they began to undermine the economy. Credit default swaps, once an obscure financial instrument for banks and bondholders, could soon become the eye of the credit hurricane...
...planners of the Charlesview redevelopment project defended their proposal at a public meeting last night, justifying the buildings’ height and the high density of the planned residence by citing local housing demand and space constraints—but Allston residents remained critical. As part of a land swap finalized in November, Charlesview—a low-cost, five-acre apartment complex currently located next to Harvard Business School—will be moved to a 6.9-acre plot further down Western Avenue. Sporting stickers that read “I support Charlesview, but not this proposal...
...representatives from Harvard were present at the meeting last night. Charlesview—a low-cost, five-acre apartment complex currently located next to Harvard Business School—will be moved to a 6.9-acre plot further down Western Avenue as part of a land swap finalized last November. An arts-and-culture complex is one idea that has been proposed for the site that sits at the entrance of Harvard’s future expanded campus. In addition to relocating the existing 213 Charlesview units, the proposal outlines 69 additional affordable rental units and up to 118 home...