Louisiana has become ground zero for these twinned approaches, having recently approved a massive expansion of vouchers (HB976) and new reforms making teacher employment contingent upon student performance on standardized exams and opaque value-added modelling (HB974).
Chase rejected the Garwoods for two reasons, according to the letter Garwood received: The bank claimed their monthly mortgage payment amounted to less than 31percentt of their income and they failed HAMP's opaque "Net Present Value" test, a complex Treasury Department formula that servicers use to determine if a modification will make investors more money than a foreclosure.
Many investors have lost confidence in banks, insurers and other financial intermediaries, in part because they do not know whether these companies are valuing opaque instruments properly.
The investment bank kicked off 2011 by taking a $450m £291mm) stake in Silicon Valley's brightest star, in an opaque deal that values the firm at around $50bn and doubles the net worth of Mark Zuckerberg, who owns just over a quarter of the firm, to the giddy sum of $14bn.
For example, a key-value store cannot provide querying based on the contents of the values, because these values are opaque to the data store.
This indexing and querying capability based on document contents differentiates this data model from the key-value stores model, in which the values are opaque to the data store.
"In reality," Mr. Greenberger added, "it spread a virus through the economy because these products are so opaque and hard to value".
Only about 5% of loans are delinquent and only 3% of assets are classified as "level-3" (regulator-speak for opaque and hard to value).
In the coming weeks, some mortgage market participants predict, investors will learn not only how lax real estate lending standards became, but also how hard to value these opaque securities are and how easy their values are to prop up.
Considering opaque surfaces, if the Y' value Ny of the polygon normal vector in the user coordinates system is negative, then the polygon is not visible.
However, it was done in a simplistic way, with an MD5 hash (MD5 hashing is a standard way to produce a short opaque "fingerprint" from a value in a — usually — virtually irreversible way).
