As McLean explains, Fannie and Freddie, which had effectively guaranteed those loans, were all but wiped out by these developments.
The most powerful sports bodies, including the FA and Premier League, privately claim they have watertight contracts with Setanta and argue its City backers have effectively guaranteed Setanta's payments.
With Lehman Brothers running out of options this week, investors fear that A.I.G. will face billions in additional losses because it has effectively guaranteed complex financial instruments tied to home loans whose values have plummeted.
The government is under intense pressure to avoid additional bailouts like the one of Bear Stearns, even if it has effectively guaranteed that it will keep Fannie Mae and Freddie Mac afloat.
While the position of the United States is to maintain a "One China" policy, Washington has effectively guaranteed Taiwan's independence so long as neither party unilaterally attempt to change the status quo.
Only last week it was announced the company had severed a trade agreement with a Belarusian company, ending a cartel which had effectively fixed prices and guaranteed a steady flow of income to Uralkali and Kerimov, whose fortune was said to be in excess of £4bn in March. .
Michael Ratner, a lawyer at the Center for Constitutional Rights who is working on legal strategies, said he had focused on whether, by trying to limit appeals' rights, the president had effectively repealed the constitutional guarantee of the right to bring habeas corpus proceedings.
Finally, the country was assured that regulatory reform would address the threat to our financial system posed by large banks that have become effectively guaranteed by the government no matter how reckless their behavior.
Franco had effectively won in the north.
Five German divisions had effectively been engulfed.
Because the city would also have to keep firehouses fully staffed, the bill would effectively guarantee firefighters 80 hours of overtime, at a cost of $18 million, officials said.
