Word: bankrupter
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...Zimbabwe is facing its worst economic crisis since independence almost three decades ago. On top of its abandoned, worthless currency, the once prosperous agricultural economy is bankrupt. The country's new Finance Minister, Tendai Biti, announced on Wednesday that Harare has a monthly expenditure of about $100 million but can raise only $20 million a month. The government estimates that an average family of five requires about $550 a month, far more than what most people earn. (See pictures of Zimbabweans voting...
...would argue that the portion of the AIG bonuses that was for employee retention are fair. The only reason the company isn't in receivership is because the government deemed it was "too big to fail." Fearing the financial market would be dealt a horrible blow if it went bankrupt, the government has provided AIG with several loans to prevent its untimely demise...
...State of the Union talk show. He observed that if Congress approves the budget as it has been proposed by the Administration and deficits consequently move up at the rate that the Congressional Budget Office has projected in its analysis of the budget, the nation will become bankrupt and people would stop buying American debt. (See the 25 people to blame for the financial crisis...
...confused mind. His record as a member of the Senate may be unspectacular. However, it says a great deal about the state of the discourse regarding the budget that his observation is one of the few, by a ranking Senator in his party, which mentions the term "bankrupt" to refer to what could become of the American government...
...bonuses were retention payments promised early last year, when it was clear that London-based AIG FP was in trouble but not yet apparent that its parent company wouldn't survive without $170 billion (and counting) in taxpayer aid. Without that aid, AIG would have gone bankrupt in September and the bonus promises would have been torn up. AIG was not allowed to go bankrupt because Lehman Brothers had just failed and the people at the Treasury Department and the Federal Reserve worried (with reason) that another failure - in particular, the failure of a firm that wrote default insurance...