Word: moneys
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...deals to users who flash proof that they've checked in via Foursquare. "The challenge with any social-networking site is the single mom working in an office - what's in it for them?" Lu says. "If you can translate it into the mentality that this is saving you money, who wouldn't want...
...Partnerships like these are currently free for businesses; Crowley says Foursquare is still trying to figure out how to make rewards even more useful for its members. While Foursquare isn't under any immediate pressure to make money - the site received $1.4 million in an August round of funding - its partnerships with businesses provide at least a hint of the way it plans to turn its traffic into a revenue stream. And in an online world crowded with Next Big Things still struggling to turn a buck, that may be the most revelatory thing about Foursquare...
...course, not all economists are buying the Caballero's blame them, not us, explanation of the financial crisis. They say just because there was money flowing into the United States doesn't mean the credit crunch was inevitable. They say stricter regulations could have stopped U.S. investment bankers from creating mortgage bonds filled with risky home loans and then passing those bonds off as safe investments to foreign investors. "Most of the blame for the financial crisis lies in the choices that were made inside the U.S.," says Anil Kashyap, an economics professor at University of Chicago's Booth School...
...Miami or Las Vegas, but in investment houses and offices of central bankers in Beijing and Riyadh. Caballero asserts that international investors, particularly those tasked with deploying the reserves of foreign governments, prefer relatively safe investments, which made the normally stable U.S. economy a natural hunting ground. The money might have gone into stocks, but after the Nasdaq and stock market rout of the early 2000s, investors' appetite shifted to bonds...
...down yields and making Treasuries less attractive to other foreign investors. As a result, the rising demand for higher yielding U.S. debt opened the door for Wall Street investment bankers to spin out new classes of fixed-income securities, most notably collateralized debt obligations or CDOs. Much of the money raised by those investments was funneled in the mortgage market. That gave lenders the ability to make more loans, allowing more people to buy houses and push up real estate prices. Many of those loans, it turns out, were made to people who couldn't afford to pay. What happened...