At the Treasury and the Federal Reserve, career officials have talked for a long time about the need to set up an equivalent of the Resolution Trust Corporation, which liquidated insolvent savings and loan institutions in the 1980's and sold their assets, often at fire-sale prices.
He did so by liquidating his savings, selling stocks and borrowing against an equity account.
He had even persuaded a 79-year-old Utah widow to liquidate her savings and take out a loan in order to send him $149,000.
"When I hit ten thousand this fall — I'm liquidating my savings account now — I told her, 'You've bankrupted me.' " (The way the subtenant tells it, she stopped paying rent after Hampton failed to pay the landlord promptly).
LOS ANGELES — A former mayor of San Diego spent the last decade wagering more than a billion dollars at casinos across the country, eventually liquidating her savings, auctioning her belongings, selling off real estate, borrowing from friends and taking more than $2 million from a charity set up by her late husband, a fast-food tycoon.
During the recession, Braden and his wife had to liquidate their savings to keep the doors open at their Redondo Beach company, Cornerstone Construction.
Starting around 2000, many households began to use credit cards to cover basic expenses after first liquidating their savings and draining equity from their homes.
These days a stay at the Oriental is so dear you may have to liquidate your retirement savings or sell a kidney to pay the bill.
Rather than publicly acknowledging its existence, Cruz subsequently told reporters that he and his wife had liquidated practically all of their personal savings to help pay for the campaign.
In terms of assets, RESPs, vehicles, bursaries, and personal savings are generally expected to be liquidated to help pay for a student's education.
