Word: difficultly
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...Pricing plain-vanilla mortgage-backed securities (MBS), which are based on thousands of home loans, isn't easy. But MBS are only the tip of the troubled bank iceberg. Lurking below are bonds that are more complicated, and much more difficult to value. Among the most confounding are collateralized debt obligations (CDOs...
...course, the government hopes the aggregator bank model it is proposing, with private investors actually making the purchases, gets around the difficult job of having the government figuring out just what these bonds are worth. But it is not clear it will. Even if private investors name the prices, the government will still have to certify the values are reasonable before providing insurance or some other type of incentive to get the purchases complete, if it cares about not throwing more taxpayer money down the rat hole...
...Difficult conditions led to a tough weekend for the Harvard skiing team, as the nordic and alpine squads continued their trend of tenth-place finishes at the University of Vermont Carnival in Stowe, Vermont. Despite the new race trail at Spruce Peak, the Stowe course maintained its reputation as one of the most challenging races of the collegiate season. The snow proved to be very dry and grippy, leading to deep ruts at the base of each gate on the course for the alpine events. Also, a white-out of intense snow and booming thunder welcomed the Crimson contingent when...
...Penn on Saturday, but fell 9-0 to No. 2 Princeton yesterday.“They were two very different matches,” junior Frank Cohen said. “Penn was a very good match for us, but Princeton is tough. It’s difficult to play back-to-back when we had such a hard one [Saturday against Penn]. We thought we had a good chance, but it didn’t work out.”Despite the disappointing Sunday result, Harvard showed tremendous mettle in its first match, converting a 4-2 deficit into...
...released on Feb. 3, recalls pulling into a rebel camp that lacked kitchen gear. Though they were deep in the Amazon forest, the rebels overnight procured a gasoline stove and a 13-quart pressure cooker to prepare their beans and lentils. But even so, holding hostages has become increasingly difficult. The FARC is losing ground to the army's steady advances, legions of rebels have been killed or captured, and throngs more have disarmed and started collaborating with the government...