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Even so, they were expected to pay back any "fictitious profits" made with Madoff.
The city had routinely sold the notes to obtain cash that it needed immediately and that it later expected to pay back with tax receipts.
It is unclear how much the Spanish clubs involved in the inquiry would be expected to pay back should the commission rule that Spain broke EU rules.
Many Nigerian women arrive in Italy with debts of about £40,000 for their journey from Nigeria to Italy, which they are expected to pay back.
In a capitalist system, after all, it's the job of lenders to evaluate risk, and to be cautious about letting borrowers accumulate more debt than they can reasonably be expected to pay back.
"One of the cruellest things of all is to have a huge deficit in this country, meaning that everyone's children will be expected to pay back for our debt today.
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How much can students expect to pay back each month?
Chaska's cut-rate service is so popular that the town expects to pay back in five years the $800,000 it borrowed to install the gear.
And it did end up all the way down the food chain to the borrower, to the person who borrowed more money on that house, that McMansion, or that second home in Florida, than that person could realistically ever expect to pay back.
Obviously, you don't want to take on more debt than you can reasonably expect to pay back.
Private insurance is a fraction of what you would expect to pay back in the States, with annual premiums for a couple starting as low as $800 for expats I spoke to".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com