Word: auction
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...tell you, I would follow the same course that George Bush No. 1 did: I would set up a Resolution Trust Company like he did, and I literally would buy up all those bad loans. And the assets that were purchased, you put them up for auction. Just like the Resolution Trust. And the money that is raised from that goes back into the Treasury and hopefully pays down what it took to buy those assets. But still, [former Treasury Secretary Henry] Paulson and others haven't faced the one issue that has to be dealt with, and that...
...country. Used-car dealerships have been bombarded by departing foreigners trying to sell their vehicles, but dealers have stopped buying because there's no longer a resale market. "I've got no space; no one has any money; and no one's buying," says one. A government-run auction is doing a brisk business selling vehicles that have either been repossessed or been abandoned by their debt-ridden owners at the airport. Local website classified sections are filled with desperate ads offering entire household furnishings - often practically new - for a song. "Relocation forces complete sale of all furniture and household...
...plans to auction off hundreds of billions of dollars in Treasuries between now and the end of the year. The level of interest that will be paid on this paper will be a litmus test of the market's appetite for debt in the country that has the largest GDP in the world but is well on its way to owing a record sum to its creditors...
...part that is a consequence of the global downturn, which has hit international tourism hard. The crunch was exacerbated by profligate spending in the final years of the Gayoom regime, as it sought to cement votes with new infrastructure projects. In February, Nasheed's government moved to auction off some of the former ruler's more extravagant state possessions, including a personal yacht, a private pleasure island and a gold-plated toilet...
...ending health care for 225,000 children, laying off 5,000 state workers, shortening the school year by a week and slashing university spending by $1.2 billion, the governor plans to sell some of the state's leading landmarks to raise cash. Among the properties being considered for the auction block: the Los Angeles Memorial Coliseum (home of the 1932 and 1980 Summer Olympic Games), estimated price $400 million; San Quentin state prison, estimated value $1 billion; and Del Mar Fairgrounds (the famed "Where the Turf Meets the Surf" race track north of San Diego), estimated value $500 million. (Read...