Word: eventing
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...interest and principal payments on the underlying loans first going to the senior most tranche and the last payments going to the most junior. Effectively, the tranches are, at least in part, rated differently based upon the order in which they receive payment from the underlying loans. In the event of default, the junior most tranche may receive less than their regular return because they are the last tranche to be paid. In order to compensate for the increased risk, the more junior the tranche is, the higher the yield on the investment. Employing this system, loans that individually...
...given an incentive to purchase the riskier tranches. The result is that securitizers would have to keep the riskier tranches on their own balance sheet. And, given banks recent experience with this approach, it is unlikely that they will be eager to do so again. However, in the event a bank wishes to act as a securitizer, they will have no choice...
...this whole Twitter thing as a social experiment," says Burton. "When I meet fans, normally a studio or somebody has set up an event and there is an agenda. Now I can do it myself." Burton plans to host another meetup in the future, though he has to be careful, he says, because his wife doesn't like them. "She said it was dangerous," says Burton. "Then again, she's from Indiana...
Whistle-Blowing. The nation's first transcontinental railroad was completed May 10, 1869, in Promontory Summit, Utah, where the "golden spike" was pounded into the final tie, finally connecting 1,776 miles of rail. In honor of this august event, Amtrak is celebrating National Train Day, offering Amtrak Guest Rewards members the ability to earn double points for their first four trips taken through May 8, triple points after their fifth trip, and quadruple points for any trip taken on May 9. If you travel Saturday, May 9 through Amtrak's Washington, D.C., Philadelphia, Chicago or Los Angeles station...
...media blitzkrieg that equates holding the IPL with upholding the country's honor. But in the end nothing worked. "Because of the attitude of the government, that they are not ready to spare security forces for the cricket tournament ... We are forced to take the decision to move the event out of India," BCCI president Shashank Manohar told the media in Mumbai on Sunday. Bollywood superstar actor Shah Rukh Khan, who owns Team Kolkata and was part of the IPL governing council meeting where the decision was taken, was more magnanimous: "We need to respect the general elections, they...