For seven years – sometimes getting 40 phone calls a day – they laboured on, shuffling debts, keeping their fingers crossed, not addressing the issues and becoming more stressed.
In fact, both the consumer and government need to deleverage for total debt relief to occur, else we're just shuffling debts around and avoiding a healthy deleveraging entirely.
I kept my FICA score higher than my GREs, while shuffling debts like a two-bit hustler scamming change for a twenty, and grumbled about money being so hard to come by.
This was the context in which Goldman's Fabulous Fab created the disputed CDOs, Sean FitzPatrick allegedly moved loans between banks and Lehman created its Repo 105s along with the entire "debt mule" structure revealed this weekend of inter-related companies to shuffle debt around its empire.
We shuffle Collateralized Debt Obligations and credit default swaps all over the globe.
Mr. LaMagna said he ran up more than $135,000 in debt, shuffling balances among 45 credit cards.
If land used to collateralise much of their borrowing falls in value or is laid claim to by several lenders, that would probably prompt at least some financial entities to fail.To some extent, this shuffling of debt is a bit of an accounting shell game, says Michael Kurtz, head of China research for Macquarie Securities, an investment bank.
OTHERS are shuffling their portfolios to improve quality, shorten maturities, add corporate debt or seek protection with short sales, or even the credit default swaps that have attracted so much official and public opprobrium.
The album produced a minor commercial success — the sweet and shuffling track "Odessa," a song with vocals that owe a sizable debt to the daydream murmuring of Arthur Russell.
Not so, says Riklis' lawyer, Duane Werb, who claims the asset shuffling was part of a legitimate reorganization that reduced McCrory's debt by $22 million.
