Word: unwind
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...government bonds. Long Term Capital Management was heavily leveraged. It had equity equaling only 3% of its assets. That's the equivalent of a $3.3 million home-equity loan on a $100,000 house. When the market turned skittish after the Russian default, the fund had to rapidly unwind illiquid positions, sustaining huge losses in the process. Only a bailout brokered by the Federal Reserve Bank of New York staved off a wider collapse of the U.S. financial system...
...credit crunch is not anywhere near over. "It took 20 years for us to get into this situation - leveraged to the hilt - and it will take more than a couple of years to unwind it," says Paul Ashworth, senior U.S. economist at Capital Economics. "And even when we get back to normal, that normal is not going to be the same. We won't have this sort of freely available credit that we had before for households and businesses. It's going to be a different reality - a more austere one - when we come out on the other...
PHUKET Hotel Unwind along a secluded stretch of Thailand's Mai Khao Beach at the new Anantara Resort & Spa, designed by famed architect and landscape artist Bill Bensley...
...need for Z’s. With 24-hour libraries, time-consuming extracurriculars, and easy access to caffeine and study-aids, many college students have forgotten how to go to bed and need reminding. The Boston Globe reported that MIT has started a sleep class to help students unwind. A few miles away, Wellesley has begun to throw pajama parties. Harvard students are not immune to this epidemic of sleep deprivation, and here in Cambridge, the issue is coming to a head. However, a shortage of pajama parties is not the problem—the problem is a shortage...
...enough, while the barbershop was buzzing on Wednesday evening, not a single athlete paid its well-meaning neighbor a visit. You will not hear a Hungarian judoka say to his teammate, "Great practice today, man. Gosh, I'm exhausted. Want to head down to the Environmental Information Center to unwind?" Gold trumps green in the Olympic Village...