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So President Obama — perhaps with some backstopping from Democrats in Congress — has his limits.
In turn, the "reformed" companies will know they couldn't long survive free-market competition without that ultimate backstopping from Uncle Sam.
However, the switch to a systems approach that enables communities to manage and sustain their own water services, sanitation, and hygiene programmes with no or a minimum of continued backstopping from the government has not yet been made Existing efforts, including information, education and communication (IEC) materials and person-to-person contacts, are generally satisfactory.
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Dubai has a much clearer backstop from Abu Dhabi than Ireland, Greece or Portugal have from Berlin or Frankfurt.
That means Greece is paying roughly twice in interest what Germany must to borrow, despite the promised backstop from the 16 countries that use the euro.
One of those is the Volcker Rule, which aims to stop banks that enjoy government backstops from making bets on the movement of stocks, bonds and derivatives.
ATHENS (AP) — Markets drove up Greece's borrowing costs again on Tuesday, despite last week's promise of a financial backstop from other European countries, indicating the country's debt crisis was far from over.
As Paul De Grauwe has been arguing for a while, what has been needed all along to calm the markets isn't austerity — which doesn't seem to help at all — but a liquidity backstop from the ECB, which works wonders.
Abraham said Channel 4 needed a "regulatory backstop" from Ofcom because it was hampered in its negotiations with Sky by not being able to withdraw its services from the platform.
The company has secured a $250 million backstop from "a large family office".
Lehman might not be able to, despite the financial backstop from the Federal Reserve that continues until mid-January.
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