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So, to return to the original disagreement with Mr Beckworth, it seems that there are only two ways to relieve the shortage of safe assets: the government could issue more debt or the government could guarantee private debt, thereby transferring the liability to the state.
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California, Oregon and Washington have passed legislation which bars the cancellation of individuals' policies on the grounds of participating such schemes, but transfers the liability during a rental onto the car-sharing service (and its insurers).In August GM plans to open up OnStar to other developers, though RelayRides is likely to enjoy first-mover advantage for some time.
The fact is, to save the world from economic collapse we have transferred the liabilities of the private sector to the public.
This entry essentially updates the entry in the previous step by reducing the balance sheet liability and transferring the amount to the income statement.
Transferring the money would only increase the federal government's pension liability, it said.
EDC assumed the environmental liabilities for the cleanup with the goal of transferring the land to the college and Lancaster General upon completion.
But that was deemed to deprive industry of much-needed capital so limited liability was brought in.That transferred the responsibility for monitoring bank managers from shareholders to depositors.
Some of the more controversial aspects of the bill include transferring liability for copyright infringement to sites that host user-generated content and blocking that content via DNS servers.
After the first plane crash, Northrop Grumman transferred the programme to a shell company, shielding itself from liability in case of any future problems.
It won't be long before the Fed further loads its balance sheet with worthless toxic assets... thereby transferring liabilities from the reckless bankers to U.S. citizens.
Alternatively, the regulator could discount credits ex ante (at the time of certification) to account for anticipated future carbon loss, thus effectively transferring liability to itself.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com