Word: underwritten
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...Even with those cuts, Wall Street bonuses may still look inflated in light of the industry's dismal performance in 2008. For example, so far this year, Wall Street has underwritten $1.5 trillion in bonds. Sounds like a lot. But it is $500 billion less than what Wall Street did in debt back in the same time period in 2002, which was the last time Wall Street had a significant downturn. And that year Wall Street bonuses were just $8.6 billion, or $5.4 billion less than they are expected to be this year...
There are no equivalents to those circumstances today. The "real" economies of most major nations remain robust. No major war has disrupted international trade in more than a half-century. On the contrary, the explosion of global commerce in the past several decades has underwritten prosperity not only for developed countries but for many other nations as well--notably China, India and Brazil--lending today's world economy degrees of diversity, dynamism and resilience that simply did not exist eight decades ago. The abandonment of the gold standard has opened space for countries to adjust their monetary and fiscal regimes...
...bonds issued by the New Jersey university. Harvard refused to disclose the name of the firm that underwrote their outstanding public debt, but the University has had at least two fixed-rate bond issuances in 2008, both announced Jan. 23 at sums of $243 million and $145 million, underwritten by Morgan Stanley, according to data from Bloomberg Finance L.P. At the end of 2007, Harvard held more than $914 million in fixed-rate bonds, according to the annual financial report. In total, Harvard has more than $3.8 billion in bonds and notes payable. Kenneth A. Froot, a professor of business...
Warner's statement followed the release of a report by the Government Accountability Office on annual Iraqi oil revenues and Iraqi government spending on security and reconstruction efforts. The report, requested by Warner and Senate Armed Services Committee Chairman Carl Levin of Michigan found that Washington had underwritten $48 billion for stabilization and reconstruction activities in Iraq since invading in 2003. The Iraqi government, meanwhile, grossed an estimated $96 billion in revenues from 2005 to 2007, almost entirely from oil. Between $67 another $79 billion in oil revenues is projected for Iraq in 2008 with prices remaining at record levels...
...warrior, a man of courtly manners who is possessed by a vision of a vainglorious, straight-ahead assault on the enemy's center -- the vision that produced Pickett's disastrous charge. It was a course of action that defied reason (personified here by Lieutenant General James Longstreet, who is underwritten and underplayed by Tom Berenger). Lee's opposite number in the film's dramatic scheme is Colonel Chamberlain, commander of a ravaged regiment assigned to defend the Union flank on the hill known as Little Round Top. A college professor and, as played by Jeff Daniels, a soft-spoken humanist...