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(The Ford Motor Company had wisely decided not to pursue assistance rather than risk the derogatory stamp of "Government Motors").The bulk of "Overhaul" is taken up by the nuts and bolts of devising an almost unprecedented government-funded restructuring that whisked each company in and out of court protection in weeks rather than the months or years common in other big bankruptcy cases.
Moreover, GM already has essentially done a self-funded restructuring without filing for bankruptcy.
The government also has shored up struggling banks exposed to Spain's depressed domestic construction and real estate sectors by successfully completing an EU-funded restructuring and recapitalization program in December 2013.
Sigar's report made the point that despite the restructuring programme being funded and monitored by the US Senate, there is "no comprehensive mechanism for formal coalition assistance evolved to address abuse and confiscation of property", or a method to monitor results and feedback.
A UNICEF-funded study on Youth Councils recommends restructuring its system of governance to enhance and organize meaningful youth activities.
DealBook » Taxpayers Expected to Subsidize Foreclosure Deal | A clause in the landmark foreclosure settlement allows the banks to count loan modifications from an already existing, taxpayer-funded initiative, the Home Affordable Modification Program, toward their new restructuring obligations, The Financial Times reports, citing unnamed people familiar with the matter.
Funding: self-funded.
Illinois has also made progress by paying off our bills, reducing the backlog by more than $3 billion, and lawmakers restructured the state-funded pension systems to save about $1 billion a year.
Restructuring looms.
They hope that this belated gesture, and the new restructuring plans they were due to present to legislators as The Economist went to press, will win them $34 billion of taxpayer-funded loans to help them stave off bankruptcy.
Funded borrowing did both.
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