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...Here's how Strata worked: The original investment (made by hedge funds or other big investors) was $20 million, plus a fee paid to the underwriter, Bank of America, for structuring the bond. Bank of America then took the $20 million and bought some liquid, safe asset, such as Treasury bonds. Those safe bonds then became Strata's collateral...
City Stimulus. New York Signature Collection hotels - including the four-star Plaza, London and Carlyle hotels - are still offering a third night free, plus a special VIP package at Saks Fifth Avenue, with gets you a personal shopper, a discount on merchandise, plus complimentary coffee and dessert at the store's lounge. Check website for participating hotels and to make reservations through...
...this will begin to gel on April 2, when the newish international organization known as the G-20--the leaders of 19 of the world's biggest national economies, plus the European Union--meets in London. An unofficial meeting has already taken place, at the World Economic Forum in Davos, Switzerland, where G-20 officials (with the conspicuous exception of those from the U.S.) made speeches, conversed in the halls and gave a sense of the direction in which the world outside the U.S. wants to head. (Read TIME's special report on Davos...
...great man so much as he was a great rapper. At least the filmmakers chose a rapper—if not a great one—to portray Wallace. Jamal Woolard, a.k.a. Gravy, brings weight to the role (he gained 100 pounds to equal the heft of 300-plus-pounder Biggie) if not always the proper gravitas. And while he may not have Wallace’s deep voice or charisma, he often nails the cadences of Biggie’s flow and delivers a convincing and emotionally candid performance. “Notorious” spends a substantial slice...
...What sort of modern world needs to be saved with another round of crucifixions?” That’s the conceptual idea I started with.RR: Is this going home to mom and dad?IRM: I live in California, so it would probably be pretty expensive. Plus, I’m not sure they would be happy with a painting with a lot of crucifixions. I’m not sure they would want to put it up in their house.Eamon F. Fleming ‘10RR: What do you think of your friend’s painting...