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Debt in itself is not a terrible thing, he says.
Public debt in itself isn't bad, especially when private investment is low and growth is faltering.
But the incurrence of debt in itself is not that bad; ill-advised use of proceeds after you incur that disaster, whether you are a consumer or a corporation, or a government.
Similar(57)
"Debt relief in itself is in our economic interest," he said.
It should be said that many Major League teams have hundreds of millions of dollars in debt, that debt in and of itself is not necessarily bad, and that much of the Wilpons' debt could likely be restructured.
Debt is not in itself bad, when managed, but today's unsustainable debt will suffocate our economy, our democracy and our children's futures.
"Providing an upfront, unconditional component to debt relief is critical to provide a strong and credible signal to markets about the commitment of official creditors to ensuring debt sustainability, which in itself could contribute to lowering market financing costs.
"Making balanced budgets or low public debt an end in itself," the report said, "can be detrimental to achieving other goals of economic policy, namely high employment and socially acceptable income distribution".
Working with Merton H. Miller, who won a Nobel in 1990 for his contribution, Mr. Modigliani demonstrated that leveraging a company through a lot of debt did not in itself affect a corporation's value.
To explain, discharge of a debt in bankruptcy is not itself a taxable event.
But it's probably more important that AOL not drown itself in debt in the process.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com