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JUNK BOND: A bond, usually a corporate bond, that has a higher than average risk of default, but which pays a higher than average interest rate to compensate. Junk bonds were a popular method of investment during the 1970s and 1980s, especially to finance corporate mergers. Junk bounds held by savings and loan associations that defaulted were a major source of problems during the 1980s.
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BANK ASSETS What a bank owns, including loans, reserves, investment securities, and physical assets. Bank assets are typically listed on the left-hand side of a bank's balance sheet. Bank liabilities, what a bank owes, are listed on the right-hand side of a bank's balance sheet. Net worth is the difference between assets and liabilities. The largest asset category of most bank is loans, which generates interest revenue. A critical asset category used to maintain the safety of deposits is reserves (vault cash and Federal Reserve deposits).
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction seeking to buy either a coffee cup commemorating the 2000 Olympics or a birthday gift for your grandmother. Be on the lookout for the happiest person in the room.
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"People of mediocre ability sometimes achieve outstanding success because they don't know when to quit. Most men succeed because they are determined to. " -- George Allen, U.S. senator
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RJE
RAND Journal of Economics
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