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:) November 20, 2012 Yesterday we were pretty confident that leaders would agree a 'tentative' deal in which Greece would receive €44bn of loans, perhaps in two tranches, as long as it satisfied the Eurogroup that it met all its obligations.
The billionaire investor told Andrew Ross Sorkin on CNBC Thursday that Congress will probably raise the nation's debt ceiling in time to avoid defaulting on all its obligations, though it likely won't happen until the final hours.
It also must do a two-year cash-flow projection to show it can repay all its obligations.
Today, the US government insists that it has honoured all its obligations, and that the jurisdiction for the dome and its toxic contents lies with the Marshall Islands.
If the borrower runs into financial trouble in the meantime and becomes unable to repay all its obligations, or if it declares bankruptcy outright, the law states that bondholders get back their principal before stockholders receive a dime.
These new calculations came as the public wrangling between BP and the White House was reaching new heights, with President Obama asking for a meeting with BP executives next week and his Congressional allies intensifying their pressure on the oil giant to withhold dividend payments to shareholders until it makes clear it can and will pay all its obligations from the spill.
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When the federal government lacks sufficient funds to pay all of its obligations, it borrows.
"The university has fulfilled all of its obligations under the contract it had with Mr. Knight," the university said in a statement released yesterday.
He seems clear that the U.S. government did not fulfill all of its obligations to the Japanese it interred during World War ll just because it released them after the war and protected their civil and political rights after that.
The RNIB withdrew the legal threat when Visa agreed to temporarily upgrade two of the machines - but the company said that while this work was never actually done, it still met all of its obligations under equality legislation.
Lew warned that before long it would not be able to meet all of its obligations.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com