Even if Republicans and Democrats had a bigger-than-normal fight over the debt limit, leading to some bondholders not getting paid on time, lawmakers would fully compensate them in any eventual agreement. The US is in terrible shape in the long run: American politicians are grotesquely ...
The Court allowed Congress to renege on its contractual agreement to pay the debt in gold; this is when U.S. public debt became denominated in dollars. Effectively, this means that even if Section Four forbids Congress to declare a formal default, it could accomplish much the same thing by...
“I have a legal agreement with the loan companies,” I tell the woman. My voice is thin and wet. “It’s from several years ago. I have the signature of someone representing AES. It’s a legal document,” I say again. “I have you paused for bankruptcy but now you’re done and...
with acomplicated series of contingencies and triggersthat are supposed to ensure this happens. What bothers me about this is that there has been no real discussion or agreement as to exactly what we’re going to do or how we’re supposed to do it. And the reason for ...
After giving it thought I called the law firm representing MCM today and they were very polite and came to an agreement and I scheduled a payoff on the account on April 9. They agreed to send me a letter and email agreeing to dismiss the case in court once the payment is made and ...
Fund calledFinancial and Sovereign Debt Crises: Some Lessons Learned and Some Lessons Forgotten, talking about ideas such as governments inflating their way out of debt problems and pushing problems off to insurance companies and pension funds, through regulations requiring investment in certain ...
Nearly all real estate experts are in agreement that for the next year or two, many of today’s homeowners will find themselves locked into where they are now living. Their situation is much like medieval serfs were tied to their land. They can’t sell, because the market price won’t ...
then there needs to be an agreement as to how the arrangement will work. The usual approach seems to have been some sort of “gift economy.” In such an economy, everyone would share whatever they were able to obtain with others, and would gain status by the amount they could offer to...
US President Joe Biden declared on Wednesday that a North Korean nuclear attack on his country or South Korea would spell doom for Pyongyang. Under a new agreement between Washington and Seoul, the US would respond to such an attack with nuclear weapons, South Korean President Yoon Suk-yeol ad...
Aloanin or neardefault. According to theInternational Monetary Fund, a non-performing loan is any loan in which:interestandprincipalpayments are more than 90 days overdue; or more than 90 days' worth of interest has beenrefinanced,capitalized, or delayed by agreement; or payments are less than...