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In the old days, banks would collect deposits by offering dizzyingly extravagant rates; then they could lend to the government at even more exorbitant ones.
But the general counsels of large businesses are increasingly finding that they can ignore these extravagant rates, and insist on big discounts.Price-discounting tends to be associated more with used-car lots than with posh law firms.
A company as ethereal as air, with deep losses, few physical assets, little proprietary technology, extravagant rates of spending, a high employee "burn rate," and powerful emerging competitors, had accomplished one of the most successful I.P.O.s ever and suddenly was worth more than two billion dollars.
Payoff seems to be steering clear of "subprime" borrowers, the kind that firms like LendUp loan to at extravagant rates (though those rates fall with every loan that's paid in full).
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Conspicuous consumers announce their reproductive fitness by playing "harder-to-get" through the extravagant rate at which they signal escape with contractions or reversals.
Individual E. coli cells become larger as they grow faster [ 55- 57], and the glucose concentration used in the long-term experiment permitted growth at a rate that was extravagant compared with the natural environments in which this species evolved for millions of years prior to our evolution experiment [ 58].
Their extravagant claims about cutting the top individual rates below 30percentt are just hollow speechifying as long as they refuse to put specific revenue-raisers on the table.
Having lowered their policy rates to near zero, they have engaged in increasingly extravagant measures such as "quantitative easing" and "forward guidance".
Very high salaries should be taxed at a rate of 50 percent or more, which would discourage extravagant pay for chief executives.
But the Water Club's rate of roughly $700 for two nights seemed extravagant, so I chose the Chelsea ($450 for the weekend).
As Volcker told me, it doesn't really deal with a number of issues that contributed to the crisis, such as extravagant Wall Street compensation practices, misleading accounting, and incompetent credit rating.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com