by
Geoff Mann
balloon payment
(en)
a repayment of the outstanding principal sum made at the end of a loan period, interest only having been paid hitherto
182
the payments are amortized over forty years, to keep them low, but are scheduled on a thirty-year payback, meaning the homeowner had to have 120 months of cash at the end of the mortgage to cover the remaining debt (a so-called "balloon" payment)
on the subprime mortgage crisis
notable
6 years, 9 months ago
the payments are amortized over forty years, to keep them low, but are scheduled on a thirty-year payback, meaning the homeowner had to have 120 months of cash at the end of the mortgage to cover the remaining debt (a so-called "balloon" payment)
on the subprime mortgage crisis
notable
6 years, 9 months ago
PIIGS
(en)
the five eurozone nations that were considered weaker economically following the financial crisis: Portugal, Italy, Ireland, Greece and Spain
201
The southern nation-states (the so-called "PIIGS": Portugal, Ireland, Italy, Greece, and Spain) have private financial institutions no more stupid or myopic than banks in Germany or France
the reason they were affected more is because their systems were less robust
notable
6 years, 9 months ago
The southern nation-states (the so-called "PIIGS": Portugal, Ireland, Italy, Greece, and Spain) have private financial institutions no more stupid or myopic than banks in Germany or France
the reason they were affected more is because their systems were less robust
notable
6 years, 9 months ago
basis point
(en)
(noun) one hundredth of one percent (as in the yield of an investment)
212
"Basis point" is the finance term for 1/100th of a percent
notable
6 years, 9 months ago
"Basis point" is the finance term for 1/100th of a percent
notable
6 years, 9 months ago
yield curve
(en)
a curve on a graph in which the yield of fixed-interest securities is plotted against the length of time they have to run to maturity
215
As long as they were earning higher interest on the money loaned than they were paying on the money borrowed, it worked. But when the market went through turmoil, and the short term looked riskier than the long term, the yield curve "inverted"
footnote 80. on why Spanish banks failed
notable
6 years, 9 months ago
As long as they were earning higher interest on the money loaned than they were paying on the money borrowed, it worked. But when the market went through turmoil, and the short term looked riskier than the long term, the yield curve "inverted"
footnote 80. on why Spanish banks failed
notable
6 years, 9 months ago
Tomás de Torquemada
(en)
a Castilian Dominican friar, and the first Grand Inquisitor in Spain's movement to homogenize religious practices with those of the Catholic Church in the late 15th century, otherwise known as "The Spanish Inquisition
236
Some [...] see immediate potential for a radical and socially just anticapitalism in the disintegration of the euro and the fall of the Torquemadas of neoliberal austerity
unknown
6 years, 9 months ago
Some [...] see immediate potential for a radical and socially just anticapitalism in the disintegration of the euro and the fall of the Torquemadas of neoliberal austerity
unknown
6 years, 9 months ago