Word: repays
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...there are China's fragile banks, which could be hit by waves of defaulting loans as factories fold. Although Chinese banks during the current boom have been able to reduce their unusually high proportion of nonperforming loans carried on their books, declining corporate earnings will diminish borrowers' ability to repay their debts. While it's difficult to assess the overall exposure of banks to the manufacturing sector, it's easy to imagine lenders getting caught in a Chinese-style credit crisis if manufacturing contracts sharply...
Backed by a pristine credit rating and mountains of cash, bond insurers promise to repay principal and interest if an issuer cannot. By paying for a bond insurer's guarantee, cities and states can borrow more cheaply to build schools, bridges and roads. Here's how the bond insurers' troubles are spreading to Main Street...
...shareholders are unhappy with Branson?s bid, however, it is unclear where they might find a better one. The U.S.-based private-equity firm JC Flowers has also promised to repay billions of pounds of the Bank of England loan upfront, but its proposal offers shareholders only around 1 pence per share. Another investment firm, Olivant, has proposed buying a minority stake while parachuting new management in, a plan that would keep share prices at higher levels. But with the British government having already plunged billions of dollars into the bank, it will want to retain...
...come from a very, very privileged background. Sometimes I feel very, very guilty telling people they can’t work in the financial sector, because I myself don’t have these kinds of issues,” he says, of peers with loans to repay and families to help support. “Hypothetically, I could do something without having to worry about how to support myself. I know you can only play the hand you’ve been dealt.” Family wealth is a reliable safety net; those who have never personally known...
...Syria, in 1303. From there, the decline was precipitous: The Templars failed in an effort to take control of Cyprus, and then, in 1307, Philip IV of France found it more convenient to order the arrest and torture of the Templars to extract confessions of heresy than to repay his heavy debts to the order. This led to the trial under Pope Clement, who was based in Avignon and under the protection of Philip...