Word: bankrupting
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Officials of California's bankrupt Orange County came up with a plan to repay 186 municipalities 77¢ for every dollar they had sunk into the county's ill-fated investment pool. The county, which lost $1.7 billion in a failed high-risk strategy, would also issue 15-year recovery notes to cities, water and school districts, and other public agencies...
...leader cannot escape the fact that after 36 years of wily international gamesmanship, he is stranded on the wrong side of history. The Soviet patrons who financed his ``socialist paradise'' for three decades have collapsed. The communist bedrock upon which he built his edifice of power has proved itself bankrupt on virtually every continent of the globe. As his own people clamor for a better life, Cuba's socialist dream appears to be fading fast...
...article by Lingle on its opinion page. Lingle, then a senior fellow in European studies at the National University of Singapore, wrote that ``intolerant regimes in the region reveal considerable ingenuity in their methods of suppressing dissent.'' Among several methods he listed was ``relying upon a compliant judiciary to bankrupt opposition politicians.'' The statement did not mention any country by name...
Whoever does emerge on top will find his most daunting tasks defined by the problems that Deng left behind. China's economic explosion has produced the inevitable side effects: income gaps, bankrupt state-owned enterprises and a surge in crime and corruption. Expectations among ordinary Chinese are rising in a way that could rapidly undermine faith in the party. Up to now Deng has provided an indomitable link between China's central and local governments, as well as between the party and the military. Now, as regions, especially in the booming south, taste the fruits of prosperity, they will...
Despite the cries of the American Association of Retired Persons (AARP), Social Security needs a huge overhaul. Rather than trying to provide for the entire younger generation, it needs to set its sights on the neediest cases. Otherwise, the Social Security fund will be bankrupt before this generation gets to collect. People in the work force will more than make up their Social Security with private savings--an asset on which the government can't default...