Word: trust
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Dates: during 1990-1999
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...America's biggest lender, Chase Manhattan, saw its "nonperforming" assets in Asia triple in the first three months of 1998, to $243 million, due in part to derivatives. At the end of last year, its total risk from Asian derivatives--should others default--was more than $3 billion. Bankers Trust's derivatives' delinquencies have leaped from zero to $330 million in a year, and the compass points to Indonesian and Thai clients. In total, the bank has some $5 billion of derivative credit exposure in Asia. And Greenspan was quite right to be concerned about CIBC. The bank has nearly...
...then there's Bankers Trust, which introduced the world to derivatives surprises in 1994. Procter & Gamble sued the bank after absorbing losses of about $150 million on a blown deal, accusing Bankers Trust of misleading it on the risks. The bank agreed to a costly settlement. Now it may face other nasty surprises from Asia. According to SEC filings, the bank has some $5 billion of gross-credit exposure in derivatives to clients that aren't investment grade...
...antitrust chief also had plenty of incentive to cut a deal. With merger mania rampant in industries from banking to telecommunications, Klein had ample opportunity to prove his trust-busting mettle without taking on Microsoft in a long and costly battle that many legal scholars suspect he will have a tough time winning. Faced with the uneasy prospect of trying to prove consumer harm by a company that has helped make PCs better and cheaper, Klein must have held out at least faint hopes that Gates would renounce enough of his most egregious practices to let them both declare victory...
...They're not telling us anything--they're just asking for opinion," said Emma C. Cheuse '98. "I think this is an important step in the right direction, but it makes it difficult to trust that we are really going to participate in the discussion if we don't have the information necessary to contribute in a meaningful...
...institutions must develop a strong constituent base, and respect that constituent base," Wilson said. But, she added, "it is important to know that the ultimate responsibility for the institutional structure is an assigned responsibility. There is a group of people who hold the institution in trust--our board of trustees...