Quotes About Bondholders

Obama had to save the banks, sure, but he didn't have to save the bankers and the shareholders and the bondholders. We broke the rules of capitalism in order to save those at the top - as we always do.

as well as the engineering reports issued in accordance with the 1974 Trust Agreement, as amended, (from here on "Trust Agreement") which regulates PREPA and its relationship with the representatives of the bondholders and, of course, with the

The management of the New York fiscal crisis pioneered the way for neoliberal practices both domestically under Reagan and internationally through the IMF in the 1980s. It established the principle that in the event of a conflict between the integrity of financial institutions and bondholders' returns, on the one hand, and the well-being of the citizens on the other, the former was to be privileged.

When a company gets into trouble, it should basically have to be resolved, in other words, stockholders lose their money, unsecured bondholders lose their money.

Thus, Beard found that most of the makers of the Constitution had some direct economic interest in establishing a strong federal government: the manufacturers needed protective tariffs; the moneylenders wanted to stop the use of paper money to pay off debts; the land speculators wanted protection as they invaded Indian lands; slaveowners needed federal security against slave revolts and runaways; bondholders wanted a government able to raise money by nationwide taxation, to pay off those bonds.

Latin American republics were among the first to discover that it was relatively painless to default when a substantial proportion of bondholders were foreign.

It is hard to believe that Gladstone would have ordered the invasion of Egypt in 1882 if the Egyptian government had not threatened to renege on its obligations to European bondholders, himself among them.

Not so long ago, companies that borrowed lots of money were considered risky, appropriate only for daredevil stock pickers. Those with lots of cash on hand and few outstanding debts might be dull stocks, but they were at least safe bets for bondholders.

Even if big reforms do happen—say, a combination of tax hikes and spending cuts—the discretionary resources that government can deploy to tackle social or environmental problems are likely to keep falling for many years to come. In future decades, government is likely to spend much of its money cutting checks for seniors and bondholders.

The neo-rentier objective is threefold: to reduce economies to debt dependency, to transfer public utilities into creditor hands, and then to create a rent-extracting tollbooth economy. The financial objective is to block governments from writing down debts when bankers and bondholders over-lend.

they cannot renege on the potential cost when the risk of default becomes a reality. Default, in this context, is … a legitimate, if unfortunate, part of the game. It is not consistent to benefit from a risk-taking premium and insist on full payment in all circumstances. The legal protection extended to bondholders by Judge Griesa goes against the very nature of risk-taking.

Popular morality blames victims for going into debt – not only individuals, but also national governments. The trick in this ideological war is to convince debtors to imagine that general prosperity depends on paying bankers and making bondholders rich – a veritable Stockholm Syndrome in which debtors identify with their financial captors.

The euro and the ECB were designed in a way that blocks government money creation for any purpose other than to support the banks and bondholders. Their monetary and fiscal straitjacket obliges the eurozone economies to rely on bank creation of credit and debt. The financial sector takes over the role of economic planner, putting its technicians in charge of monetary and fiscal policy without democratic voice or referendums over debt and tax policies.