Consider the Bear Stearns Alt-A Trust 2006-7, a $1.3 billion drop in the sea of risky loans. Here’s how it worked:
As the credit bubble grew in 2006, Bear Stearns, then one of the leading mortgage traders on Wall Street, bought 2,871 mortgages from lenders like the Countrywide Financial Corporation.
The mortgages, with an average size of [...]
Meet Gordon, probably the world’s first robot controlled exclusively by living brain tissue.
Stitched together from cultured rat neurons, Gordon’s primitive grey matter was designed at the University of Reading by scientists who unveiled the neuron-powered machine on Wednesday.
Their groundbreaking experiments explore the vanishing boundary between natural and artificial intelligence, and could shed light on the [...]
The automotive world is abuzz over the latest entry into the hybrid auto market, the Mercedes Benz High-Bred. Available this fall in Sedan, Sportster and SUV version, the High-Bred reportedly gets over 75 miles per gallon of petrol on the highway.
The move is seen as a response to the runaway success of the Toyota Prius.
“Obviously, [...]
As the Dowbrigade has been noting for some time now, it is clear that the Federal Office of Management and Budget has been cooking the nation’s books for years.
We noted almost four years ago that prices at the pumps, checkout counters, showrooms and e-Sites have been going up a lot faster than the officially [...]
WATERTOWN - The newest addition to Pleasant Street certainly doesn’t stink.
What was once a tourist attraction in Worcester is now heading through the pipelines to Watertown. The American Sanitary Plumbing Museum, aka “the toilet museum,” is moving to the West End with a promise to “bowl” people over.
The largest plumbing contractor in New England, J.C. [...]
The Dow Jones industrial average opened the fourth quarter by soaring more than 200 points at one point, putting the index well above its previous high set in July. At the close, the Dow was up 191.92 points, or 1.4 percent, at 14,087.55. The Standard and Poor’s 500-stock index rose 1.3 percent to 1,547.04, trading [...]