Although it does not call for a default on Brazil's public debt, as it once did, it talks of capping the share of tax receipts that goes on debt servicing, which does not sound very different from defaulting.

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Her default setting: just call it a meeting, but do realize that more people land jobs through these kinds of connections than from formal interviews connected to a job posting.

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With roughly three times more income than needed to honor our Social Security and debt obligations, and with 97% of Social Security spending during the next 10 years covered by revenues already earmarked for Social Security and the remaining 3% having a legal call on general revenues, why would we ever default on either one?

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Some go so far as to say that if a bond is insured and bondholders receive back the par value, no default has taken place, just an unscheduled call.

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The Department of Financial Services said the agreements also call for restitution to homeowners erroneously charged for or driven into default by force-placed insurance.

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The banks argued a principal writedown plan would encourage homeowners to default, a notion some attorneys general on the call disputed, the person said.

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When she discovered how prevalent they were in 2007, she began to call the bankers into her office to discover they were insulating their portfolios from the growing risk that the borrowers would default.

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