Word: worthlessness
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...rated AAA. But when things unwind--and have they ever--any default gets compounded by the chain of linked bonds. The multiplier effect works like this: while 4.4% of the typical loans tied to Jupiter's bonds are in default, nearly 59% of Jupiter's investments are now worthless. Hello, toxic asset. (See the top 10 financial collapses...
Even if they can work together, Tsvangirai and Mugabe must revive an economy - and a country - in a coma. Unemployment is near universal. The currency is worthless and all but abandoned. More than half the country needs food aid. Cholera has killed more than 3,000 and infected tens of thousands more. Millions of Zimbabweans have simply fled the country...
...back. When a bank's loan losses are greater than its income, it has to take money from its shareholders' equity account to make up the difference. That's a big deal for a company's investors. If shareholders' equity is wiped out, their stock is effectively worthless. So investors watch this account intensely; if they think shareholders' equity is headed to zero, so too is a bank's stock...
...said that this whole Lampoon was worthless except for one person, and that was John Updike,” he said, recalling a review of the humor magazine that he penned...
...says Irma Lopez, 28, a former Agriprocessors worker who remains in limbo with her young daughter while her husband is back in Guatemala, one of many arrested workers deported in October after serving five months in prison. "I worked since I was 8 years old, and now I feel worthless. I can work, but I'm not allowed to." (See pictures of an Iowa steak...