Banks and Building Societies are at the forefront of this onslaught, heedless of the effect of personal debt on the social fabric and the balance of payments and a laissez-faire government refuses to take any responsibility.
119. The sly and naughty character who was in debt was willing to provide fake credit cards and cheques as payment to buy pill capsules, buttons for his clothes, a new chimney and earrings for his servants.
The city owes its creditors around 18 billion dollars but the bankruptcy filing has been fiercely opposed by retirees, pension funds and unions. Signori Hussein reports.
Its debt problems are growing, not shrinking: European banks have thinner equity buffers than their American counterparts, and have written down far fewer debts.