It promises to be a horror show with real consequences for ordinary folks in states that invested heavily in high-debt opportunity funds: Pennsylvania, New York and California.
For people with outstanding credit card debt, the opportunity is even better.
Unless we fix the budget together, we will leave the next generation a legacy of debt, not opportunity.
Facebook Twitter Google plus Share Share this post Facebook Twitter Google plus close 6.15pm ET23:15 Speaker of the House John Boehner is speaking after 11am this morning, and for what it's worth here's what Boehner said about the tax and debt deal opportunity the day after the election: Mr President, this is your moment.
But when the results are distributed as unequally as they are at this moment, when the gap between promise and reality grows so wide, when elites can fail repeatedly and never lose their perches of privilege while ordinary people can never work their way out of debt, equal opportunity becomes a dream.
3.43pm GMT Speaker of the House John Boehner is speaking after 11am this morning, and for what it's worth here's what Boehner said about the tax and debt deal opportunity the day after the election: Mr President, this is your moment.
Top ten holdings: SR Global fund (emerging markets); Thames River Nevsky fund A; Key Global Emerging Markets fund; Boyer Allan Pacific fund; JGP Nextar fund B; Gartmore CSF emerging markets fund; Tudor Emerging Markets fund B; Pharo Arbitrage fund; Consulta emerging markets debt fund; Opportunity Brazilian Hedge Sub-fund.
The federal government needs to open up refinancing and debt relief opportunities for these people, as it did for some mortgage holders.
On the other hand, he said, these factors reduced the risk of defaults: a low current cost of debt service, opportunities for increased revenue like raising property taxes, efforts by governments to cut expenses, and the relatively high security of states' general obligation bonds.
Do you think we'll see Equity Office Properties Trust, Hilton Hotels, Archstone Smith and other companies that were taken private by debt-addled "opportunity funds" back in the public sphere again?
Under Debt2Health, the Global Fund works with its partners to identify debt conversion opportunities, and then negotiates a three-party agreement between the bilateral or multilateral creditor, the debtor, and the Global Fund.
