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But worker-rights advocates are criticizing the proposals, saying they permit reductions in the value of employees' benefits.
What is clear is Europe's opposition to imposing reductions in the value of these bonds, often called haircuts.
In 2004, voters in Oregon approved Measure 37, which required payments to private landowners for reductions in the value of their property resulting from land-use regulations.
"Faced with falling house prices, significant reductions in the value of pensions and other financial assets, a deteriorating and uncertain employment outlook and reduced access to credit, consumers are likely to retrench spending to reduce debt and rebuild savings".
However, in the year-earlier quarter, the company's net income was lowered $80 million by several one-time costs, including restructuring charges and reductions in the value of the company's newspapers.
The challenge is to make such assets cheap enough to attract private investors without forcing the entire banking sector to make steep and immediate reductions in the value of their whole property portfolios.
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Mr. Moynihan favors a reduction in the value of the Consumer Price Index.
Inflation is not just high prices; it's a reduction in the value of our money.
The city's Franchise and Concession Review Committee voted 5 to 1 yesterday to approve a reduction in the value of the city's two-year-old contract with Snapple.
"It's entirely possible the haircut is warranted," he said, referring to a severe reduction in the value of the portfolio.
The banks contend the Treasury's plan offers no concessions in exchange for a nearly 86 percent reduction in the value of their holdings.
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