Word: creditably
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According to the e-mails, Harvard entered the $500 million credit default swap—essentially an insurance policy that would pay off in the case of mortgage defaults—with Goldman paying about 100 basis points, or $5 million, per year for protection against defaults...
...real estate market soured, credit default swap rates increased to 200 basis points, and Goldman stood to profit from the trade while Harvard, as a counterparty, suffered losses...
...going to take credit for everything Rich Trumka does,” Sweeney says with a small laugh...
While Sweeney jokes about taking credit for Trumka’s work, he is quick to give credit to others for making his union accomplishments possible...
...Penn played particularly well this week, and I give them a lot of credit,” Rhoads said. “But certainly I believe that if we had played a normal week for us—or a good week for us—that we certainly would have either won or been right next to Penn, despite how well they played this week...