business phrase (update 4)

--leverage finance's cash engine has ground to a halt --worldwide sellof accerlated and concerns spread beyond financial companies and homebuilders --the cost of financing has skyrocketed, imperiling the raft of corporate buyouts that has fueled the bull market. --stock markets across Asia were pulled down sharply July 27 by the previous day's rout on WS that saw DJ and S&P500 fall 2.3% and register their biggest declines since late Feb. --WS woes hit hard. --China toughens stance on food safety --the bear event is a watershed event --Speculation has run rampant in recent years in real estate, private equity, merging market and levreage loans. Subprime is the first category to collapse. --Joe wrote a 23-year stretch that ended in 1958. For me, this lap on the track is sweet and bitter. Sweet because I relish a quest to become FORBES' longest-running columnist. Bitter because I've always believed that Joe was the best FORBES columnist. --As businesses of all sizes expand overseas, Asset backed lenders are following along... --the credit market is in disarray, and that disarray has given the stock market a worthy case of the jitters. --It is not a full rout. So far, there are no corporate defaults making the headlines. --there is an overhang of $225 billoin in debt from PE deals that need to be refinanced. --it would dent the sotck market by 5%. --do these perks (interest bearing account...ATM rebates) outweigh the hassle of switching (from banks to retail brokers) --If invetors get spooked, then the ability of lenders to fund loans may be hampered. --If a few of high quality deals get good prices, that may unclog the pipline. --assets around the world move in one lockstep. --this(credit market downturn) was their (mututal funds with long-short strategies) opportunity to prove their mettle, they came up short. --The common thread tying those companies together: they either have low or negative free-cash flow and in some cases those flows are unpredictable. --He takes ove the reins as sole president to help guide Bear. --No timetable has been set for the final report. --With the development late in the housing boom of subprime mortgages where borrowers needed to provide little or no documentation, and no money down, the market entered uncharted territory. --investors tend to look askance at such put selling because the losses can be catastrophic. --lenders stay tight with their money --second heaviest one-day plunge --They believe U.S growth would settle back to a more modest pace. --They(numbers in 1998) paled in comparison to the number of references tha were to coming in the new economy frenzy of the next two years. --the number soared seven-fold in 2000. --U.S firms in particular were at the forefront of those changes on a global scale. --this raise an important question: how much of the dollar's rise over this period was an equilibrium phenomenon. --The year 2001 marked a watershed for the dollar. --bank profits are heading south --run on the bank --keep a cool head when everyone else panick --issuers of commercial paper could not roll the paper over --people yank money out of their fund. --Investors have all but stopped buying debt... --Some experts believe that some of them could pose a significant risk of default if the economy slows or veers into recession --what would make the investor stomach such an arrangement --when capital flowed freely and corporate debt demand far outstripped supply. That led investors to push the envelope when it came to risk --as the markets gyrated... --the firm's reputation as one of WS savvist players has taken some knocks... --it is too early to give the all-clear signal --this move helped breathe life into a group of major quants hit sepcaically last week --a hawkish inflation fighter unafraid to swim against the moneytary-policy tide. --a lot of funds get slammed.. --selling can feed on itself, prompting nervous investors to sell more, which adds to volatility. --the information technology(IT) revolution of the late twentieth/early twenty first century has followed a similar script. --U.S. trade deficit was deteriorating --turmoil in the credit markets is spreading tremor to one of the most conservative kinds of investments. --restore nomalcy to the markets --the downside risk to growth has increased appreciably --Markets reacted euphorically to the Fed intervention --With the blow up at Amaranth and other hedge funds in thew news, do clients call in more? --CFC hit the tape this morning with news that it has decided to fully draw on the an $11.5 billion backup credit facility amid continued severe strain in the secondary non-agency market. --Open Market Desk (OMD) excutes outright purchases and sales or through repos(temporary transactions). --But fears of a full-blown credit crunch, which last week reached a crescendo, have put the brakes on activity in teh commercial-paper market. --The bond market has seized up(suddenly stop moving), stocks are in turmoil, private-equity funds are sidelined and hedge fund managers and lenders are hosting fire sales. --Given the headlines about shelved leverage buyout deals --economically resilient industries like health care --banks are the best proxy to the (China) economy --if five tosses of a fair coin all turn out to be heads, whiat is the probability tha the sixth toss will be tails? Gambler's fallacy. --Months ago, Mr. Gross positioned for anticipated Fed Reserve rate cuts.... --stocks got rattled last month aftrer credit markets seized up... --After a three year stretch in which risk-taking was rewarded handsomely, markets were rocked this summer by ripples from the imploding subprime-mortgage business. --Banks will take a batch on those transactions, holding on its own inventory/holding the bag --the problems in subprime-market served as a wake-up to debt holders. --Banks drank Kool Aid too --easy money pumped the bellows. --the lure of easy riches drew new players --The bursting of the bubble will inflict broad damage. The cascade of PE deals will slow to a trickle. --emotion determines tolerance for risk --In essence, the Fed is following advice that British journalist Walter Bagehot offered in his 1873 book, "Lombard Street," a copy of which Mr. Bernanke kept on a shelf when he was Princeton professor. In times of "internal discredit" -- when uncertainty leads private players to pull back -- the prescription to the central bank is: Lend freely. -- it will borrow $100 million today as a gesture --The latest chapter in the credit crisis of 2007, rooted in the deterioration of the market for U.S. subprime mortgages and securities linked to them, represents a new test of the savvy of central banks from Frankfurt to London to Washington to Tokyo. --Mortgage lenders are dropping like flies. --Take a deep breath instead. No question, the mortgage market is in for a rough ride. --Further tightening of the credit conditions will increase the risk that current weakness in housing market will be deeper or more prolonged then expected. --Fed Reserve stands ready to take additional actions as needed to provide liquidity and prmote the orderly functioning of markets. --The collapse of the housing boom in the first half of the decade is taking its toll on broader economy. --Benanke ...to counter perceptions that Fed has been quick to cut rates and cushion investors. --He does not give in to their pleas for immediate help. --So it's not out of line to worry that the credit crunch could crimp ongoing business or inflict outsize losses --Barclays Capital had a record first half --Most emerging countries need structural reform to unlock their potential -- --On the heels of a bumpy summer marked by dramatic losses at several high-profile firms, hedge funds and their investors are adjusting to a new environment featuring a reduced appretite for risk taking. --Clients forgive managers who lose on the downside, but if they miss the upside, they are really toast. --banks have a moutain of low-grade debt to sell in the next few months. Investors have a long list of stocks and bonds to pick...yet the setting is fraughts with uncertainty. If the market is going to be back on its feet...Are any more bombs ticking on the balance sheets of hedge funds or banks. --Still, anxiety abounds. --funds that close their books in October sell stocks in September for tax-loss purposes --an expectation of declines has become self-reinforcing -- --It is one of the nine companies that have succumbed to (been plagued by) the subprime crisis...the loss of the business will lop $16 million from the revenue...it is just a temporary blip... --At the time, the subprime meltdown had yet to take hold... --large outsourcers remain unscathed --sales were not as dismay as in July --the disjointed movement in Libor and other short-term interest rates underscores the turmoil that persists in money markets...the two rates are now parting ways. --Many European banks have been stung by exposure to U.S subprime mortgages --Banks, especially in Europe, have heavy commitments tied to struggling commercial-paper markets. --a host of credit derivatives are also pegged to the Libor --the two BSC funds hit the rocks in June --SS's recent clobbering looks overdone --funding problems leave other banks such as Germany IKB on the brink --Though recent distress in financial markets has "deepened" the housing slump, the overall economy has seen little impact so far --consumer spending saw "modest to moderate increases" --But with less extra cash in the system to ease banks' nerves (inflation concern), the anxiety about liquidity has resurfaced --the bank of England took its first step toward easing strains in U.K. money markets. --the quandary facing centrals banks (low short-term rates vs high long-term rates) --Fed should take some comfort from this. -- --Citigroup raked in $89.6 billion in revenue last year --Some high-profile hedge funds have registered big losses amid recent market turmoil --TPG-Axon has scored gains of 22% so far this year --you can only find out if these models are any good when they are stress-tested --the 126k gains in payroll was nearly halved --inflation targeting is not at odds with reacting quickly to market turbulences --SEC has opened a probe of the company --the company asked the court to rule that a delay in filing quartely report consitute a default on its 1.3 bi of senior notes --investment bubbles and high animal spirits do not materialize out of thin air. They need extremely favorable economic fundamentals together with free and easy, cheap credit, and they need it for at least two or three years. --There is no end in sight to the inconsistency of leadership --she( Abby daughter of Fiedlity owner) has many doubters --With McColgan gone, Lawson's job is now half left. --Many of the problems were their own doing --overall markets managed to finish the month in the black (positive return) --That (deleverage) force them to pare their holdings. Because so many growing hedge funds embraced similar stocks in recent months, when they turned to sell it put extra pressure on holders of these shares. --remarkes from Bernanke seems to lean toward a quarter percentage point cut. --it might not enough to forestall the inevitable: that the consumer is going to roll over. --foster a housing bubble --We wanted to shut down the possibility of corrosive deflation," he writes. "We were willing to chance that by cutting rates we might foster a bubble --I do not see any positive market-moving event --a basket of stocks can be cumbersome at times, particulary on the short side. --the problem (leverage) is by no means solved, but things are moving in the right direction. --(Qatar acquire 1/3 LSE)..in so doing, they are testing Western politicians and intitutions that often espouse free-market principles but are wary of foreign governments owning iconic assets. --Goldman's decision to partner with Mr. Fang raised some eyebrows at the time. The WS bank's sophisticated culture and emphasis on subsuming individual egos to the firm's collective good seemed an odd mix with the headstrong Mr. Fang, who helped se up Goldman rival Mogan Stanley's own joint-venture Chinese investment bank in the 1990s. --Fed would rather err on the side of fanning inflation --economic growth was moderate during the first half of the year, but the tightening of credit conditions has the potential to intensify the housing correction and to restrain economic growth more generally. The (rate cut) action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and to promote moderate growth over time --readings on core inflation has improved modestly this year --development in the financial markets since the committee's last regular meeting has increased the uncertainty surrounding in economic outlook. --The cut of discount rate, too, greases the wheels of the economy --Anchor a strategy with either an index portfolio or an enhanced index portfolio... --the reason of the smooth tone ( of CDX rollover) is because markets are on tenderhooks to how the current credit squeeze will develop - not because there are contradictory signals about the market to the degree the recent bout of the market turmoil will affect the economy --Odds are stacked in favor of further (yield curve) steepening --Bear is expected to flounder, weighed down by its hedge-fund fiasco and the weak bond market --Bush Administration eased its position (on Fannie and Freddie) in light of credit crisis...its position continue to bend.. --Conditions have improved broadly, but it is still a bifurcated market --these concerns haven't entirely ebbed --A flurry of new offerings continued to rain down on the investment grade corporate bond market --the loss in mortgage market sapped investors' appetite for risk --Alan Greenspan' memoir arrives with remarkable timing for two reasons. One is that at a time like this, with financial markets in a upheaval, we yearn for guidance from the oracle who presided over 18 years of relative peace and prosperity in the U.S. economy. the second is that a wave of revisionist thinking holds that the reign of Greespan may not have been so great after all, that bears some responsibility for the twin bubbles of dot-com mania and the recently deflated housing boom. --financial market turmoil will tip the economy into recession --inflatoin can perk up --wind down the business --CDS offers some glimpse into the oqapue corporate bond market, foreshadowing the market turbmoil --The world's largest economy is heading into tailspin --it seemed in later sep the housing market was in free fall, with both sales and prices plunging --crimp the consumer spending --stall economic growth --shrinking CP market/ the chill in the CP market --siphon consuemrs' wallets --Threat to financial stability increased largely because of uncertainty over how credit problems are transmitted globally and how deeply the credit crunch will bite around the world --In good times, the complexity of the financial system helps spread risk among institutions and countries -- lessening the possibility that any one sector will be battered. --In bad times, this complexity makes it hard to figure out where problems will materialize --housing market has taken a second leg down --companies may decide to rein in spending after the meltdown in subprime lending sent financial markets reeling in August, dimming growth prospects --how far can J.P. Morgan Chase and BOA push their own agenda without being snared in litigation. --Doubts have been swirling around the deal for months, but the drama came to a head yesterday as UBS AG infomed a group of bankers that he wasn't prepared to pay the price --We got in under the wire ( just in time) --As a token of our gratitude --I have cleared the schedule with Hui --The Federal Reserve's dramatic rate cut Sept. 18 helped buoy confidence, they are willing to step in to maintain the functioning of financial market --The high-yield market, in contrast, has struggled to regain its stride after its summer standstill. --distribution prevailed in the past might not hold in the future --as stockpiles climbed and sales fell, home price.... --Sum of the individual units is larger than the organization as a whole --Citi pre-annoued Q3 2007 earnings where it expects to fall short by 60% from prior year --Citi described its weak trading performance as an "aberration" and point to "more normalized" levels in September. --Citi's mark-down of 1.4 bil relative to total commitment of $57 bil equates to about -2% of haircut. --Interest rate moves usually take 12-18 months to walk their way through the economy --Ever since the pipeline for junk bonds clogged up in late June....relative deficit of supply relative to demand ---I am weak in pair and dispersion trade and I enjoyed this seminar because I learned a lot in this regard ---please keep me apprised if there is an appropraite role available. ---pleased keep me apprised of the situation --There is not as much of the edginess of concern with the short-term funding markets. There is still room for an accident going forward --memories of scorching hot days flashed through my mind. --The Journal's findings reveal that the subprime aftermath is hurting a far broader array of Americans than many realize, cutting across differences in income, race and geography. --The collapse of BSC funds conjures memories of LTCM...both cases ignited worldwide credit crunch and prompted intervention by central bankers...LTCM failed because its complex strategies went haywire. --As borrow-and-buy gamit grew less profitable, BSC hedge fund sought out esoteric bonds and lightedly traded securities that offered high yields. --I am an intellectually curious man... --he was a priviledged young man without much substance...leave the less priviledged at a disadvantage --joined the company as a junior and marched up the hierachy --Complex investments are roiling WS. --typically, when results aren't going to be up to snuff, a company will issue an earnings warning ahead of time. --CFC, which swung to the 1st quarterly loss in two decades, spent recent months ensnared in the credit crunch. --GIPS advertising guidlines do not exempt firms from adhering to all the required provisions of the standards --Citi remains bogged down in bureauracy. --the proliferation of LBOs and the accompanying credit-quality downgrades have vaulted covenants into the spotlight. --the DQRP displays and tallies late-payment and foreclosure data for the subprime and so-called Alt-A loans. --the booming global growth may have trouble pulling U.S. markets out of swoon --make sure our effort will not in vain --Wall Street always rides a wave until it crashes --As fees roll in, one firm after another abandons themselves to the lure of easy money, then hands back, in a sudden, unforeseen spasm, a big chunk of the profits it booked in good times. --everyone rationalizes that it's safe because they are making so much money.. --the blow to shareholder wealth is staggering... --Merrill turn the bond over to its sales forced to peddle to hedge funds. --Hillary hits a rough patch --But what if I'm the nominee? I'll be ripped apart by the Republicans. And what if I'm the president? My hands will be tied..helps illuminate why she has hit a dangerously bumpy stretch as January's first nominating votes near..Sen. Clinton actually is running two campaigns at once -- courting left-leaning Democrats to get the nomination, but mindful even now of maintaining a sufficiently centrist course to withstand Republican attacks and win election next November...Stoking the conflict are Republicans, who report their first uptick in donations to party headquarters in many months, thanks to a recent stream of "stop-Hillary" fund-raising emails. --Some of the skills needed to pull this off haven't come naturally to Sen. Clinton. --The disparity between those two views of the economy -- one growing bleaker, the other remaining sanguine -- stood out starkly last week. --High energy prices, a slumping housing market and tightening credit conditions conspired to keep consumers hunting for deep discounts. --As colleage-application season enters the most stressfull final strech, parents want to know wehther their children's school are delivering goods - sending them to top universities --In a sign of shifting global economic food chain, students from abroad are taking up a growing number of spots. --the process can be performed at an infrequent internval --allocate assets within the framework of meeting liabilities --back out the implied market risk equivalibrium and correlations across assets --critique a plan in light of these issues --the UBS annoucement of a fresh $10 billion subprime-related writedown brings the industry tally to around $75 billion --Its (capital infusion for MBIA) real value is a vote of confidence --not all losses fall on banks --The term "emerging markets" conjures up images of corrupt governments, civil unrest and financial crises for many U.S. investors. --Sagittarius isn't in liquidation, but conflict already is brewing. --Wall Street is abound with complaints that the central bank didn't do enough to rein in risky lending practices during the run-up to the housing bubble, and that it isn't doing enough now to help clean up the mess. --"It's the Fed this, the Fed that," says Tony Richards, managing principal at money manager Stairway Partners. "It's getting a little obnoxious." --Some of the criticism is understandable. By the end of 2004 there was plenty of evidence that speculation had run amok in many housing markets. Media reports were regularly referring to a bubble when the housing market crested in the summer of 2005. The Fed seemed slow on the uptake. --Banks and investors are dealing with a growing problem: Some firms on the other side of trades in the beleaguered credit markets might not be able to make good on their commitments. --World crude prices have long tracked the thirst for oil in the U.S., which consumes about a quarter of the world's oil output. But recent months have shown how decoupled the oil market is becoming from the economic ups and downs of the world's largest energy consumer. --The year 2008 didn't set out to be a volatile or unusual year, but as it draws to to a close, many investors are nursing serious wounds. --right on the top of the list are TIPS...there are some notable standouts, and figuring high on the list were bets on weakening dollar, as well as betsw on overseas bonds, particularyly in emerging markets, and especially in local currencies. --as ever when markets are in a state of flux, there has been an overreaction, with many bonds being punished despite no real signs of any deterioration in credit quality or pick-up in the default rates. --1 million people are expected to crowed Las Vegas strip for the countdown to midnight --Beijing trumpeted its 2008 Olympic --security is tight around the world --at the stroke of midnight

--demand for mortgage-related debt is so anemic --intensity of the plunge in Treasury yields is reminiscent of the drop seen in 2001. --Bernanke has thus far been unable to reinstill a sense of confidence --His faith in modern forecasting models notwithstanding, he failed to foresee that the sudden rise in homeowner defaults, which triggered the crisis, would have such far-reaching effects. --the investment is like a vote of confidence in the dowtrodden's reinsurers' prospect. Shareholders get Buffet's endorsement.