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Golden Rule Insurance Company

Golden Rule Insurance Company was a provider of health insurance based in Indianapolis with operations in 40 U. S. states and the District of Columbia. It was acquired by UnitedHealth Group in November 2003, it was involved in the establishment of health savings accounts and the related tax incentives. The company funded millions of dollars to prominent members of the Republican Party such as Newt Gingrich to support HSAs and to fight broader reform. Membership in Federation of American Consumers and Travelers was required to buy certain insurance products; the company was named after the Golden Rule. The company was founded in 1940. In 1976, J. Patrick Rooney became CEO. In the 1980s, he moved the company from Illinois to Indianapolis, he retired from the company in 1996. In 1981, the company sued the Educational Testing Service and the Illinois Department of Insurance, claiming that the ETS examination for Illinois insurance agents discriminated against members of minority groups; the parties reached a settlement.

In August 1991, the company announced that it would pay half of the tuition for 500 low-income children in Indianapolis. The company was acquired by UnitedHealth Group in 2003

Dan Gauthier

Daniel Lester Gauthier is an American actor best known for his roles as Kevin Buchanan on the ABC soap opera One Life to Live and Brad Powell in the 1989 film Teen Witch. Gauthier was born in Oregon, he was inspired to act early on by his mother, a local theater actress in their Central Oregon home. By the time he turned 18, Gauthier moved to California to attend San Diego State University, he was a decathlete. After college, Gauthier found work by modeling with the Nina Blanchard modeling agencies. In 1987, he landed his first credited television role in 1987 in FOX's sitcom Married... with Children. Two years he starred in his first feature film, Teen Witch where he played the title character's love interest; that same year, he landed his most high-profile primetime role as maverick helicopter pilot, Johnny McKay in CBS's Tour of Duty. Following the end of the series, Gauthier continued to make guest appearances such television shows as Who's the Boss?, Life Goes On and Silk Stalkings. In 1993, he was cast in the comedy film Son in Law.

He played Travis, the main character's steady boyfriend who reacts unhappily to her changes from college life. By 1995, he landed a regular role on a series titled Courthouse; the show portrayed the tribulations of court life. After nine episodes, the series was canceled. From 1996 to 1997, Gauthier found recurring roles on both Ellen and Beverly Hills, 90210. In 1998, he was cast in the prime time soap opera Melrose Place. In June 2003, Gauthier became the eleventh actor to play former Lieutenant Governor Kevin Lord Riley Buchanan on the ABC soap opera One Life to Live, a role he portrayed until November 16, 2006; the character of Kevin had been a "good guy" for most of Gauthier's run, but in the last year had been written with more of a dark edge. The show chose not to renew Gauthier's contract and the character was written off. In August 2007, Gauthier made a brief return to One Life to Live for the series' 9,999th and 10,000th episodes. Soap Opera Digest Awards Soap Opera Digest Award Outstanding Male Newcomer for One Life to Live Daytime Emmy Awards Daytime Emmy Award Outstanding Supporting Actor for One Life to Live Daytime Emmy interview - SOAPnet.com Dan Gauthier on IMDb

Virgin Vacations

Virgin Vacations is the inclusive tour arm of Virgin Atlantic featuring land components in combination with Virgin Atlantic air to London. It was established in 1994. In May 2002, Virgin Vacations became a separate company after partnering with other airline carriers traveling to various worldwide destinations. Virgin Vacations offers travel packages to Europe, the South Pacific, Central America, South America, South Africa. Travellers have the option of choosing complete vacation packages or the opportunity to create their own personalized vacation; the current chairman of Virgin Vacations is Richard Branson. Virgin Vacations is an allied member of United States Tour Operators Association. Official website

Collateralized mortgage obligation

A collateralized mortgage obligation is a type of complex debt security that repackages and directs the payments of principal and interest from a collateral pool to different types and maturities of securities, thereby meeting investor needs. CMOs were first created in 1983 by the investment banks Salomon Brothers and First Boston for the U. S. mortgage liquidity provider Freddie Mac. The Salomon Brothers team was led by Lewis Ranieri and the First Boston team by Laurence D. Fink, although Dexter Senft later received an industry award for his contribution). A CMO is a debt security issued by an abstraction—a special purpose entity—and is not a debt owed by the institution creating and operating the entity; the entity is the legal owner of a set of mortgages, called a pool. Investors in a CMO buy bonds issued by the entity, they receive payments from the income generated by the mortgages according to a defined set of rules. With regard to terminology, the mortgages themselves are termed collateral,'classes' refers to groups of mortgages issued to borrowers of similar credit worthiness, tranches are specified fractions or slices, metaphorically speaking, of a pool of mortgages and the income they produce that are combined into an individual security, while the structure is the set of rules that dictates how the income received from the collateral will be distributed.

The legal entity and structure are collectively referred to as the deal. Unlike traditional mortgage pass-through securities, CMOs feature different payment streams and risks, depending on investor preferences. For tax purposes, CMOs are structured as Real Estate Mortgage Investment Conduits, which avoid the potential for "double-taxation". Investors in CMOs include banks, hedge funds, insurance companies, pension funds, mutual funds, government agencies, most central banks; this article focuses on CMO bonds as traded in the United States of America. The term "collateralized mortgage obligation" technically refers to a security issued by a specific type of legal entity dealing in residential mortgages, but investors frequently refer to deals put together using other types of entities such as real estate mortgage investment conduits as CMOs; the most basic way a mortgage loan can be transformed into a bond suitable for purchase by an investor would be to "split it". For example, a $300,000 30 year mortgage with an interest rate of 6.5% could be split into 300 1000 dollar bonds.

These bonds would have a 30-year amortization, an interest rate of 6.00% for example. However, this format of bond has various problems for various investors Even though the mortgage is 30 years, the borrower could theoretically pay off the loan earlier than 30 years, will do so when rates have gone down, forcing the investor to have to reinvest his money at lower interest rates, something he may have not planned for; this is known as prepayment risk. A 30-year time frame is a long time for an investor's money to be locked away. Only a small percentage of investors would be interested in locking away their money for this long. If the average home owner refinanced their loan every 10 years, meaning that the average bond would only last 10 years, there is a risk that the borrowers would not refinance, such as during an extending high interest rate period, this is known as extension risk. In addition, the longer time frame of a bond, the more the price moves up and down with the changes of interest rates, causing a greater potential penalty or bonus for an investor selling his bonds early.

This is known as interest rate risk. Most normal bonds can be thought of as "interest only loans", where the borrower borrows a fixed amount and pays interest only before returning the principal at the end of a period. On a normal mortgage and principal are paid each month, causing the amount of interest earned to decrease; this is undesirable to many investors. This is known as reinvestment risk. On loans not guaranteed by the quasi-governmental agencies Fannie Mae or Freddie Mac, certain investors may not agree with the risk reward tradeoff of the interest rate earned versus the potential loss of principal due to the borrower not paying; the latter event is known as default risk. Salomon Brothers and First Boston created the CMO concept to address these issues. A CMO is a way to create many different kinds of bonds from the same mortgage loan so as to please many different kinds of investors. For example: A group of mortgages could create 4 different classes of bonds; the first group would receive any prepayments before the second group would, so on.

Thus the first group of bonds would be expected to pay off sooner, but would have a lower interest rate. Thus a 30-year mortgage is transformed into bonds of various lengths suitable for various investors with various goals. A group of mortgages could create 4 different classes of bonds. Any losses would go before going against the second group, etc.. The first group would have the highest interest rate, while the second would have less, etc, thus an investor could choose the bond, right for the risk they want to take. A group of mortgages could be split into interest-only bonds; the "principal-only" bonds would sell at a discount, would thus be zero coupon bonds. These bonds would satisfy investors who are worried that mortgage prepayments would force them to re-inve

The Nature of Rationality

The Nature of Rationality is 1993 book by the philosopher Robert Nozick, in which the author explores practical rationality. Nozick views human rationality as an evolutionary adaptation, its delimited purpose and function may be responsible for biases and blind spots accounting for philosophy's difficulty with perennial questions that are remote from the exigencies that drive natural selection. He offers a reformulation of the decision theory, developed in the twentieth century to explain rational action, it should include the symbolic meaning of actions as well as a new rule of rational decision that maximizes decision value. These have implications for long-standing issues such as the Prisoner's Dilemma and for Newcomb's Problem, his proposal about rational belief has an internalist element of support by reasons that make the belief credible, an externalist element of generation by a process that reliably produces true beliefs. Rational belief has an intellectual component, for one should not believe any statement less credible than some incompatible alternative.

It has a practical component, for one should believe a statement only if the expected utility of doing so is greater than that of not believing it. Nozick, Robert; the Nature of Rationality. 1993: Princeton University Press. Loren Lomasky's review in Reason