Word: borrowers
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...while foreclosures are certainly bad for banks, higher interest rates alone aren't. It is not the level of interest rates that matters to bank bottom lines, but the difference between short-term rates and long-term rates. Banks make money when they can borrow money on a short-term basis - think about your deposits - at little costs and lend it out on a longer-term basis - your mortgage - at a higher rate. That's what economists call the yield curve. And the steepness of the curve, which is the difference between short-term rates and long-term rates...
...What's more, despite higher government-bond yields, corporations are actually paying less to borrow than they did a few months ago. As the credit crisis continues to ease, those rates could come down even further, making it cheaper for companies to borrow and expand their businesses. According to Credit Suisse, the average yield on bonds with an investment-grade rating has dropped a full percentage point to 6.2% from 7.2% at the beginning of the year. "The concern that higher interest rates will slow the recovery is prevalent among a lot of market watchers...
...genuine ambition for Harvard to remain at the forefront of scientific breakthroughs and for President Summers to have created something for which he would be remembered,” says former Dean of the College Harry R. Lewis ’68. “To go out and borrow money on buildings, on top of [a troubled budget] without having a plan for raising the funds—credible, realistic plans for building—was a mistake in my view.” Others defend the former President’s plans, arguing that the University?...
...Despite their tight funds, Martell and his partners hope to buy or borrow as many of Marceau's belongings as possible to create a museum of his life and work. They may get a bit of help from one big spender: the French state. During Tuesday's bidding, an official from France's National Library reserved its right to 20 works of art depicting Marceau onstage. That means that at least some of the mime's legacy has been deemed worth preserving as part of France's national patrimony - a view to which Marceau himself would surely doff his famous...
...least twice as likely to break up as married couples are. Long term, notes Stephanie Coontz, a professor of history and family studies at Washington's Evergreen State College, unmarriage works only if both people are equally committed to the lack of legal commitment. If they're not, to borrow a phrase from Beyonc: If you like it, then you should have put a ring...