A leveraged loan is an organized loan lent to a below-investment-grade borrower. There are multiple lenders but it is one loan with one set of terms.
Typically:
• Leveraged loans are floating rate instruments based on a spread over LIBOR
• Loans are senior secured loans meaning the loans are at the top of the borrower’s capital structure
• Borrowers are fall on the relatively asset rich side
• Loans are syndicated to ten or more nonbank investors or banks
Below-investment-grade borrower= below BBB-/Baa3
Thursday, October 18, 2012
LIT: Dracula: Perceptions and Sanity
Bram Stoker presents sanity- rationality, health and soundness in mind - as an abstract concept
in Dracula.
Jon Harker, for example, considers himself and is considered to be sane prior to his meeting of Count Dracula. The peoples Jon Harker comes into contact with as he gets closer to his meeting with Dracula view him strangely for even venturing to meet him for business. The peoples’ perception of Jon is that he must not be thinking correctly because they have a different rational, though Jon just considers them superstitious.
A human that can confine himself, exist in isolation, and engage in living only during the night would not be considered of sound mind. The perception of such a person would be of the insane. But what if that person is really a vampire? Then it would be sane because it is rational for a vampire to have these habits and living conditions.
The constitution of what is sane, insane, and rational is repeatedly brought up as an abstract concept throughout Dracula.
Jon Harker fears to even read his diary entries after his escape, from Dracula, to the ‘normal’ world. He fears his experiences because they are completely disconnected with the world he was familiar with and this caused him to question his own sanity. To him, those experiences were real but to explain them to doctors and authorities completely unfamiliar to what he actually went through would lead them to suspect he is not of sound mind.
Dr. Van Helsing hesitates to tell his dear intellectual companion what his thoughts are as to the cause of Lucy’s strange and devastating health condition for fear that he may be perceived as lacking rationality. This is though Dr. Seward whole-heartedly believes that Dr. Van Helsing is an utmost professional with unmatched intelligence and sound of mind that his methods are with reason.
To those unfamiliar with the ‘realities’ of vampires, the insane patient of Dr. Seward is considered so because he feasts on flies, spiders, and, presumptuously cats. The patient tries to make contact with some type of being that is non-existent to their society so he is deemed insane. His decision making is not considered rational. He will not escape the asylum but only under certain circumstances only known to him. If the Dr. and the asylum knew there was a being that did exist as a vampire and that feeding on flies, spiders, and cats would be a rational thing, would the patient be considered insane?
Sanity is an abstract concept based on societal norms and definitions according to the story
of Dracula. To reference a famous passage from Hamlet, “Though this be madness, yet there is
method in it”.
Interesting notes: another theme in Dracula is imprisonment by curiosity.
in Dracula.
Jon Harker, for example, considers himself and is considered to be sane prior to his meeting of Count Dracula. The peoples Jon Harker comes into contact with as he gets closer to his meeting with Dracula view him strangely for even venturing to meet him for business. The peoples’ perception of Jon is that he must not be thinking correctly because they have a different rational, though Jon just considers them superstitious.
A human that can confine himself, exist in isolation, and engage in living only during the night would not be considered of sound mind. The perception of such a person would be of the insane. But what if that person is really a vampire? Then it would be sane because it is rational for a vampire to have these habits and living conditions.
The constitution of what is sane, insane, and rational is repeatedly brought up as an abstract concept throughout Dracula.
Jon Harker fears to even read his diary entries after his escape, from Dracula, to the ‘normal’ world. He fears his experiences because they are completely disconnected with the world he was familiar with and this caused him to question his own sanity. To him, those experiences were real but to explain them to doctors and authorities completely unfamiliar to what he actually went through would lead them to suspect he is not of sound mind.
Dr. Van Helsing hesitates to tell his dear intellectual companion what his thoughts are as to the cause of Lucy’s strange and devastating health condition for fear that he may be perceived as lacking rationality. This is though Dr. Seward whole-heartedly believes that Dr. Van Helsing is an utmost professional with unmatched intelligence and sound of mind that his methods are with reason.
To those unfamiliar with the ‘realities’ of vampires, the insane patient of Dr. Seward is considered so because he feasts on flies, spiders, and, presumptuously cats. The patient tries to make contact with some type of being that is non-existent to their society so he is deemed insane. His decision making is not considered rational. He will not escape the asylum but only under certain circumstances only known to him. If the Dr. and the asylum knew there was a being that did exist as a vampire and that feeding on flies, spiders, and cats would be a rational thing, would the patient be considered insane?
Sanity is an abstract concept based on societal norms and definitions according to the story
of Dracula. To reference a famous passage from Hamlet, “Though this be madness, yet there is
method in it”.
Interesting notes: another theme in Dracula is imprisonment by curiosity.
LIT: Frankenstein or the Modern Prometheus- Dichotomy
Mrs. Shelley uses Frankenstein to communicate the message that humans have many blessings but are only
temporarily satisfied, if at all, with their wants and what they possess until death.
The monster of Frankenstein narrates his observations to Victor questioning the unhappiness of humans as “they possessed a delightful house (for such it was in my eyes) and every luxury; they had a fire to warm them when chill-“. Bram Stolker uses these narratives to point out the awesomeness humans have in the ability to learn languages, communicate, create, and derive meanings from symbols. The companionship of a spouse is of a special blessing that the demon of Frankenstein not only recognizes, but immensely desires.
Robert Walton seeks the glory of conquering unexplored regions of the world by ship though he mentions his vast experiences during which he “accompanied the whale-fishers on several expeditions” and acquired knowledge through rigorous study only to also ask “do I not deserve to accomplish some great purpose?”
Victor Frankenstein became enamored with his study and practice of natural philosophy. He reached a point where he was “well acquainted with the theory and practice of natural philosophy as depended on the lessons of any of the professors at Ingolstadt” but sought more. He aimed to increase the health and life of humans but after discovering how to generate life created a being. Temporarily satisfied with his achievement, he reflected on it with disgust and regret.
His life consisted of seeking satisfaction through study, world observation, friendship, family, wife, and the destruction of the demon until his death which is throughout the story alluded to as a state of peace or rest.
temporarily satisfied, if at all, with their wants and what they possess until death.
The monster of Frankenstein narrates his observations to Victor questioning the unhappiness of humans as “they possessed a delightful house (for such it was in my eyes) and every luxury; they had a fire to warm them when chill-“. Bram Stolker uses these narratives to point out the awesomeness humans have in the ability to learn languages, communicate, create, and derive meanings from symbols. The companionship of a spouse is of a special blessing that the demon of Frankenstein not only recognizes, but immensely desires.
Robert Walton seeks the glory of conquering unexplored regions of the world by ship though he mentions his vast experiences during which he “accompanied the whale-fishers on several expeditions” and acquired knowledge through rigorous study only to also ask “do I not deserve to accomplish some great purpose?”
Victor Frankenstein became enamored with his study and practice of natural philosophy. He reached a point where he was “well acquainted with the theory and practice of natural philosophy as depended on the lessons of any of the professors at Ingolstadt” but sought more. He aimed to increase the health and life of humans but after discovering how to generate life created a being. Temporarily satisfied with his achievement, he reflected on it with disgust and regret.
His life consisted of seeking satisfaction through study, world observation, friendship, family, wife, and the destruction of the demon until his death which is throughout the story alluded to as a state of peace or rest.
Monday, October 8, 2012
LIT: Through the Looking Glass
The sun tries to overtake the moon disrupting the natural order of events. The event of the sun shining will not occur until it is its set time to shine. The queen shouted "My finger's bleeding!" and Alice asks if she has pricked her finger. The Queen replies, "I haven't pricked it yet, but I soon shall-oh,oh,oh!".
Lewis Carroll is communicating the message that if we knew what the future held, it would be a source of grievance if it was something undesirable and if it was something desirable, it would prevent us from having hope because we would be certain it would occur. The story of the walrus and the carpenter shows the beauty and anguish of the unexpected. The Walrus and the Carpenter were dismayed because they could not find food. They seemed helpless because they did not believe the sand could be cleared even if "seven maids with seven mops/Swept it for half a year". It was a pleasant unexpected event that they were able to lure oysters and feast on them. Hope exists because of the unexpected. The young oysters expected to have fun with the Walrus and the Carpenter. They did not expect to be eaten especially after the kindness they were shown. For them, the unexpected was a bad outcome but had they known what was to occur they would not have enjoyed their expedition. If they knew what was going to happen and had no ability to change the outcome, the young oysters would have been miserable from the beginning until their demise. At least with a lack of knowledge of the future, they did not grieve. Had the future been consistent with their state of deprivity.
The Walrus and the Carpenter poem is significant to "Through the Looking Glass' as Lewis Carrol mentions it before the conclusion because the ending is unexpected. If the reader knew that it was possible for Alice to be in someone else's dream and that the ending was uncertain, I'm not sure the reader would have been as interested in the story.
The theme of the Walrus and the Carpenter is that events in life are unexpected. Throughout the story, you already know what chess moves are to take place so you know what moves Alice will make considering she is the pawn and know what the other pieces will do considering it was already mentioned prior to the story beginning.
Lewis Carroll is communicating the message that if we knew what the future held, it would be a source of grievance if it was something undesirable and if it was something desirable, it would prevent us from having hope because we would be certain it would occur. The story of the walrus and the carpenter shows the beauty and anguish of the unexpected. The Walrus and the Carpenter were dismayed because they could not find food. They seemed helpless because they did not believe the sand could be cleared even if "seven maids with seven mops/Swept it for half a year". It was a pleasant unexpected event that they were able to lure oysters and feast on them. Hope exists because of the unexpected. The young oysters expected to have fun with the Walrus and the Carpenter. They did not expect to be eaten especially after the kindness they were shown. For them, the unexpected was a bad outcome but had they known what was to occur they would not have enjoyed their expedition. If they knew what was going to happen and had no ability to change the outcome, the young oysters would have been miserable from the beginning until their demise. At least with a lack of knowledge of the future, they did not grieve. Had the future been consistent with their state of deprivity.
The Walrus and the Carpenter poem is significant to "Through the Looking Glass' as Lewis Carrol mentions it before the conclusion because the ending is unexpected. If the reader knew that it was possible for Alice to be in someone else's dream and that the ending was uncertain, I'm not sure the reader would have been as interested in the story.
The theme of the Walrus and the Carpenter is that events in life are unexpected. Throughout the story, you already know what chess moves are to take place so you know what moves Alice will make considering she is the pawn and know what the other pieces will do considering it was already mentioned prior to the story beginning.
LIT: Grimms' Fairy Tales
A theme of the “Six Soldiers of Fortune” is that in order to achieve a goal, one must utilize the necessary resources according to their purpose.
The goal is the “all the treasures” of the king’s kingdom and the necessary resources are men of specific skills as the main character is “a man who was a Jack-of-all-trades”. The first soldier he recruits has incredible strength with the ability to uproot trees and carry at least six on his back. Though this soldier is the first to join the army, he is utilized in the final stage in the achievement of the goal, literally, carrying off “the wealth of his realm”.
The second soldier’s skill is amazing marksmanship. As the runner slept, the king’s daughter was on her way to winning the race until the huntsman shot the hard pillow “from under the runner’s head without doing him any harm” which resulted in the runner- an exceedingly fast runner- waking up. The huntsman was utilized in the first stage when the plan deviated from protocol and managed risk.
The use of the appropriate means to produce a specific result occur with every soldier- the man with the little hat provided a frost that overcame the unbearable heat the army suffered from. Similar to the huntsman, he served as a corrective measure to the plan going a rye. The blower keeps the king’s army from reaching them so that they could retain their spoils.
The leader did not directly contribute to the challenges but recognized the talents of each of his soldiers and used their strengths to achieve the goal. He managed all of their abilities taking macro perspective and long term view. We can compare the fictional army of uniquely talented soldiers to a modern day football team with specialty players in each position- quarterback for implementing the most effective probable play, the running back to carry the ball forward, the tight-end to serve as a blocker and receiver, etc.
The goal is the “all the treasures” of the king’s kingdom and the necessary resources are men of specific skills as the main character is “a man who was a Jack-of-all-trades”. The first soldier he recruits has incredible strength with the ability to uproot trees and carry at least six on his back. Though this soldier is the first to join the army, he is utilized in the final stage in the achievement of the goal, literally, carrying off “the wealth of his realm”.
The second soldier’s skill is amazing marksmanship. As the runner slept, the king’s daughter was on her way to winning the race until the huntsman shot the hard pillow “from under the runner’s head without doing him any harm” which resulted in the runner- an exceedingly fast runner- waking up. The huntsman was utilized in the first stage when the plan deviated from protocol and managed risk.
The use of the appropriate means to produce a specific result occur with every soldier- the man with the little hat provided a frost that overcame the unbearable heat the army suffered from. Similar to the huntsman, he served as a corrective measure to the plan going a rye. The blower keeps the king’s army from reaching them so that they could retain their spoils.
The leader did not directly contribute to the challenges but recognized the talents of each of his soldiers and used their strengths to achieve the goal. He managed all of their abilities taking macro perspective and long term view. We can compare the fictional army of uniquely talented soldiers to a modern day football team with specialty players in each position- quarterback for implementing the most effective probable play, the running back to carry the ball forward, the tight-end to serve as a blocker and receiver, etc.
MAD MEN:Covet What They Clutch, but What Must They Give Away- S5Ep13
Roger confirms why he is the king of one-liners. After conversing with Long Island coat check girls with less experience whom seem to be easy game for the witty enlightened one, Roger's fondness of Megan's mother enters the picture once again. He's told to lower his expectations to which his clever reply is "to below conversation?" referencing a prior scene between the two witnessed by Sally in the ballroom episode. It's interesting to note Roger's case is similar to Pete's understanding that age is of benefit because things are understood by the elder that aren't by the younger. Roger's prowess is remarkable understanding that Don would have no idea what Imile (not sure how his name is spelled) sounds like nor understand the difference between real and fake sounding french.
There are parallels in the episode worth mentioning. Don was quick to rid Lane out of his (Don's) life by giving him $7,500-$8,000 to which Lane responded, it's just that easy for you huh- he's done it before. Lane would later remove himself permanently from life the same way Adam did for somewhat of a similar amount. Neither wanted a transaction, they weren't after material gain. Lane saw himself as an American and could think of no other way to live. He couldn't even execute his plan in an English made car so it was only appropriate he would leave in an American office with an American view. Adam sought kinship.
Don tells Peggy something very profound in the context of Mad Men world along the lines of "you help people, then they succeed. I just thought you would do it with me". Peggy is succeeding but without Don. Megan looks for help from her husband in getting the gig and gets it similar to Joan's transaction.
In an earlier season, Betty was sought after and also got an advertisement acting gig.
Megan's mother cut through to the point and gave Don his options. Take advantage of the defeat Megan is going through and have the life that you want. By the end of the episode we know Don does not allow Megan to be in defeat so does he want a family life with Megan? He confidently walks away from the set.
In an earlier episode of the season, Don chokes a mistress in his hallucination while asleep from a bad fever symbolizing the death of his desire to commit adultery. In this episode, again during a physical ailment, has another hallucination under the gas at the dentists office with his younger brother Adam removing the pain. What was removed symbolically? The last scene of the episode ends with Don at the bar alone with a proposal at hand. Joan's conversation with Don two-or so-episodes back was very telling when she said that the nature of one would return.
There are parallels in the episode worth mentioning. Don was quick to rid Lane out of his (Don's) life by giving him $7,500-$8,000 to which Lane responded, it's just that easy for you huh- he's done it before. Lane would later remove himself permanently from life the same way Adam did for somewhat of a similar amount. Neither wanted a transaction, they weren't after material gain. Lane saw himself as an American and could think of no other way to live. He couldn't even execute his plan in an English made car so it was only appropriate he would leave in an American office with an American view. Adam sought kinship.
Don tells Peggy something very profound in the context of Mad Men world along the lines of "you help people, then they succeed. I just thought you would do it with me". Peggy is succeeding but without Don. Megan looks for help from her husband in getting the gig and gets it similar to Joan's transaction.
In an earlier season, Betty was sought after and also got an advertisement acting gig.
Megan's mother cut through to the point and gave Don his options. Take advantage of the defeat Megan is going through and have the life that you want. By the end of the episode we know Don does not allow Megan to be in defeat so does he want a family life with Megan? He confidently walks away from the set.
In an earlier episode of the season, Don chokes a mistress in his hallucination while asleep from a bad fever symbolizing the death of his desire to commit adultery. In this episode, again during a physical ailment, has another hallucination under the gas at the dentists office with his younger brother Adam removing the pain. What was removed symbolically? The last scene of the episode ends with Don at the bar alone with a proposal at hand. Joan's conversation with Don two-or so-episodes back was very telling when she said that the nature of one would return.
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