When strategic defaults fail

Mood of the Market

Interesting, isn’t it, how the cultural connotations of a word, and the mental images it evokes, evolve over time. The word "modification," for example, is not an inherent member of any given field of study, subject matter or cultural realm. Its dictionary definition simply means "change," (another simple noun/verb that has accumulated vast cultural and political significance and identifying power over the last few years).

Yet, there was once a day when the baby boomer generation heard the word "modification" and visions of electroshock therapy and Jack Nicholson in "One Flew Over