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Getting it right can generate a fortune.
The theory was that borrowers would be forced to perpetually refinance into new hybrid ARMs after the teaser periods expired, which would generate a fortune in fee income.
The significance of the collection is, therefore, not just that it was built on wealth and will generate a fortune to help others.
In a world where scrambled eggs come in a tube to eliminate utensils, and condensed soup sales are sagging because consumers are too lazy to add water, university officials are confident the peanut butter will generate a fortune in licensing fees.
Similar(56)
Countrywide abandoned standards altogether, even doctoring loans to make applicants look creditworthy, while generating a fortune for its co-founder, Angelo R. Mozilo.
Unlike a number of other highly publicized executives at companies like Enron and Global Crossing, Mr. Ebbers had not generated a fortune by selling stock in his company before it crashed but had instead borrowed to buy even more of it on margin.
This has held true in many sectors, though the canonical example is the massive public return from the US Geological Survey's freely usable maps, which have generated a fortune that makes the ransoms collected by the Ordinance Survey on its maps of the UK look like a pittance.
And that hurts the fortunes of American companies that generate a sizable portion of their revenue abroad.
The company, founded by his father, David, in 1972, now numbers 439 stores and has generated a family fortune that Forbes magazine estimates at $2.5 billion.
And it generated a massive fortune for the Irishman Richard Cantillon (1680 -1734), whose Essay on the Nature of Trade In General (1755), predates Adam Smith's Wealth of Nations (1776) as the first treatise of modern economics.
Even invested conservatively, his fortune is big enough to generate a steady income of over $1 million a month after taxes.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com