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Exact(3)
He was using the loans from Anglo Irish to shore up a global property portfolio which crashed when the world financial system went into meltdown.
Even though borrowing appears to beget more borrowing, other experts cautioned that these workers may not be lacking self-control, but are simply using the loans to absorb some long-lasting financial shocks, like a spouse who lost a job.
Borrowers are limited to using the loans to pay off credit card debt, too.
Similar(57)
But many of the investments Hicks, Muse has made using the loan have been disappointing.
Indeed, there is nothing to stop people from using the loan proceeds for vacations or cars or whatever they want.
It has been using the loan to finance deals while it is raising money for the new fund.
Hicks, Muse plans to transfer up to $500 million in investments it made using the loan to the new fund, Mr. Hicks said.
The telecommunications investments will not be allocated to Hicks, Muse's newest fund, even though $320 million of them were financed using the loan.
Borrowers use the loans the same way, the report found.
The syndicates use the loans to help finance their activities.
Simply put, she used the loans more effectively.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com