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Hartley-Jones says: "The banks should fund debt advice, but they give almost nothing.
One idea floated was for the IMF to sell some of its gold reserves to help fund debt relief.
Even then, the chronic pension fund debt would remain, and more must be done to pay it down.
Applying Lanchester's reversification formula gives us a more accurate name for the fund: Debt Equals Worthless Rocks No. 1. Paul Sheridan Hong Kong.
In November 2010, Realogy added another major shareholder, Paulson & Company, after it sold the hedge fund debt that was convertible into equity.
Creasy claimed Wonga.com told her last month they opposed a cap on the total cost of credit and a levy to fund debt advice.
Similar(41)
Nor is the European commission's much-criticised proposal to cap levels of hedge-fund debt so outrageous.
The regulator sanctioned a deal under which the PPF will assume the pension-fund debt and will take an equity stake in the new company, worth up to a third of it.Defending his decision, David Norgrove, chairman of the Pensions Regulator, told The Economist that Heath Lambert's pension liabilities were going to land in the lap of the PPF one way or another.
An aide to the governor said the hedge funds' debt proposal was too onerous.
The acquisition, which is equal to a quarter of Microsoft's cash pile, is being funded with debt, because there would be a heavy tax penalty for repatriating overseas funds; debt is cheap at present.
Hartford revealed that proceeds will be utilized to pre-fund debt maturing in 2010 and 2011, as well as to repurchase preferred shares issued to the Treasury.
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