Word: sovereigns
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...list of people and institutions to blame for the financial crisis would include credit-rating agencies - the companies that assign letter grades to everything from General Electric's bonds to Malaysia's sovereign debt, indicating the chances that investors will lose money. The CEOs of the three largest agencies - Moody's, Standard and Poor's and Fitch - were assailed by Congress in October for the way their firms made record profits while raising few, if any, red flags about how massively risky mortgage-related securities had become...
...their Going Out strategy. State-owned companies in key industries were encouraged by the government to plant the flag of Chinese capitalism around the world by purchasing stakes in foreign companies. China was flush with cash and full of optimism--naive optimism, it turned out. Beijing's fledgling sovereign wealth fund China Investment Corp. poured $3 billion into New York City--based private-equity firm Blackstone in return for a 10% stake in the company--just before the bottom fell out of U.S. debt and equity markets. That deal was followed by a $5 billion purchase of a 9.9% stake...
...economic-forecasting company that he started with his brother Karl and a third partner in 1990 and sold to Moody's in 2005 for $27 million - Zandi has the job of predicting the economic future and explaining the tumultuous present to clients that range from Wall Street investors and sovereign wealth funds to staffers from the Commerce and Treasury departments. He's the recession's ascendant wonk and most improbable celebrity, as likely to pop up in the newspaper or on television as behind Nancy Pelosi during a press conference - sort of a post-housing-bubble Zelig. (See 25 people...
...mailboxes. A “clicker” is an electronic device often used in restaurants to alert patrons when their table is ready, another Square employee said. The Cambridge Police Department could not be reached for comment over the weekend. The Harvard Square Finagle A Bagel, CVS, Sovereign Bank and Bank of America were all closed from approximately 9 a.m. to 11 a.m., according to Reda Bichri, an employee of The Body Shop. The Harvard Coop and Crimson Corner News Stand also closed for this timeframe, Nicholas said. Red line trains bypassed the Harvard Square station for those...
...emerged under the more genteel moniker private equity, eschewed hostile takeovers, reliably outperformed the S&P 500 and grew to be a far bigger force than they ever were in the 1980s. From 2005 through mid-2007, PE firms - loaded with cash from pension funds, college endowments and sovereign wealth funds, and able to borrow trillions more from banks and bond investors - went on an unprecedented buying spree, snapping up the likes of Chrysler, Dunkin' Brands, Harrah's, Hertz, and Hospital Corp. of America in hopes of later selling them to the public or to another company or even...