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One of the kids is a preening drug dealer who gets his henchman to abduct the 15-year-old brother of a defaulting client as a hostage.
Few people worry that Uncle Sam will go the way of a defaulting subprime borrower because the government, unlike other debtors, can always print the money it needs.
By E. R. Little and Russell Maloney The New Yorker, February 20 , 1943P. 7 In search of a defaulting customer the Consolidated Edison Company dispatched a letter to the librarian of Columbia University who had been the defaulter's employer.
The New Yorker, February 20 , 1943P. 7 In search of a defaulting customer the Consolidated Edison Company dispatched a letter to the librarian of Columbia University who had been the defaulter's employer.
Pushing more trades onto central clearing-houses may also concentrate counterparty risk rather than remove it.The best clearing-houses set margin and other requirements, such as contributions to the funds that spread losses in excess of a defaulting firm's collateral around other members, well above those required by regulators.
No formal joint liability exists, i.e. group members are not obliged to pay on behalf of a defaulting member.
Similar(51)
They are afraid of a default.
There is no immediate risk of a default.
The repercussions of a default would be hard to predict.
"Sure, you can say you're 'not afraid of a default' – but, yes you are.
In the event of a default, investors who bought the bonds would absorb the loss.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com