Word: debts
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...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 items," reads one. "Massive savings...
...with the landlord. A local bank keeps calling to ask for the whereabouts of a former employee, a male nurse from Edinburgh who came to Dubai, hit the nightclub scene, bought a Porsche convertible, and then fled home after a week on the job, leaving about $115,000 in debt. "What were [they] thinking, loaning ?80,000 to a 24-year-old with no stable job who'd been in the country just eight weeks?" asks Mohamed. "When things are good, no one wants to open their eyes." He recently bumped into his former employee in Edinburgh. "He said...
...fallen to just $12 a barrel. This meant that Saudi Arabia - which sells its precious black gold at a discount, on average - was getting just $7 a barrel. Deficit financing was the only solution, and the government started borrowing at home and abroad. By 1999, Saudi Arabia's government debt was bigger than its economy. And then came 9/11, which drove the final nails into the coffin of the country's image. A series of terrorist attacks inside the country added to the sense of chaos. Some predicted the end of the House of Saud...
...over the $100 monthly salary they receive. And Zimbabwe owes international financial organizations more than $1 billion. While the World Bank has agreed to resume aid to Zimbabwe for the first time since 2000 with a tentative $22 million grant, bigger loans will follow only after Harare retires its debt. (See pictures by James Nachtwey on some of the poorest people in the world, including in Zimbabwe...
...over $225 billion using government guarantees, according to Thomson Reuters. Had the banks had to raise that money on their own it would have been much more expensive. Morgan Stanley, another bank that has reportedly been looking to pay back TARP funds, has raised $23 billion in FDIC-backed debt since the program began in November. Hintz estimates the government's help is allowing Morgan Stanley to lower its borrowing costs by 5½ percentage points. That would have raised Morgan Stanley's expenses by nearly $1.3 billion a year. And that is just the money it has borrowed...