Showing 25 articles matching physics of music.

The George Saunders Interview

"For example, I remember reading Hemingway and loving his work so much—but then at some point, realizing that my then-current life (or parts of it) would not be representable via his prose style. Living in Amarillo, Texas, working as a groundsman at an apartment complex, with strippers for pals around the complex, goofball drunks recently laid off from the nuclear plant accosting me at night when I played in our comical country band, a certain quality of West Texas lunatic-speak I was hearing, full of way off-base dreams and aspirations—I just couldn’t hear that American in Hem-speak. And that kind of moment is gold for a young writer: the door starts to open, just a crack."
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A Major-League Divorce

How Frank and Jamie McCourt bought the Dodgers for “for less than the price of an oceanfront home in Southampton” and eventually became entangled in one of the most expensive divorces in California history, which laid bare their finances and confirmed what many already knew: they had bankrupted one of the most storied franchises in baseball.

In all, the McCourts reportedly took $108 million out of the team in personal distributions over five years—a sum that Molly Knight, a reporter with ESPN who has extensively covered the story, notes is eerily similar to the cash payment that she says Frank McCourt has claimed he made for the team.

How Rating Firms' Calls Fueled Subprime Mess

By 2006, S&P was making its own study of such loans' performance. It singled out 639,981 loans made in 2002 to see if its benign assumptions had held up. They hadn't. Loans with piggybacks were 43% more likely to default than other loans, S&P found. In April 2006, S&P said it would raise by July the amount of collateral underwriters must include in many new mortgage portfolios. For instance, S&P could require that mortgage pools have extra loans in them, since it now expected a larger number to go bad. Still, S&P didn't lower its ratings on existing securities, saying it had to further monitor the performance of loans backing them. It thus helped the market for these loans hold up through the end of 2006.