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This means that if a home buyer borrows to buy a house and the bank forgives a portion of the loan, whether in a short sale, through debt reduction (i.e. the settlement), or even foreclosure in states that allow banks to officially choose not to seek recourse, a taxable event has occurred.
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Other creditors chose to absorb the losses of debt reduction through negotiated debt relief under the "Brady plan," which served as a negotiated solution between private creditors and sovereign debtors.
And it failed in the House for many of the same reasons Congress hasn't been able to come to an agreement on debt reduction through its normal legislative process.
He will have to contend with a mix of calls for stimulus to bolster a sluggish economy and the need for long-term debt reduction through spending cuts and tax increases.
France Telecom has come under increasing pressure following Standard & Poor's downgrade last week of KPN Telecom's credit rating to triple-B+ from A- after it failed to follow through on a scheduled debt reduction via asset sales.
Beat the drum of debt reduction through the mainstream media megaphone.
The country's creditors should now negotiate a consensual debt reduction through some combination of lower (and fixed) interest rates, reduced face value of debt and very long maturities.
He then revealed that he personally advised Obama not to back Bowles-Simpson -- which achieves trillions of dollars of debt reduction through a mix of spending cuts, tough entitlement reforms, and tax reforms -- out of fear that it would have been politically counter-productive.
Let's stop funding drug gangs, drug cartels, fueling racism and fear of crime, corrupting our law enforcement agencies and military on both sides of our southern border and direct those resources to investing in our nation through education, infrastructure and debt reduction.
The first step in restoring real stability to the economy is to lower the debt levels through what the researchers call "orderly debt reduction".
The Bush Administration told Congress today that it opposed writing off American Government debt in Eastern Europe, but raised the possibility that commercial banks could forgive a portion of their debts and provide Poland with additional loans through special provisions of the Brady debt reduction plan.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com