"What we are calling on is for the Scottish government to change housing law so that if you incur 'bedroom tax' arrears that should be treated as an ordinary debt but not allow you to be evicted, " he suggested.
In the case of John Ramig, however, whether his advances to his corporation represented debt or equity would mean the difference between taking an ordinary worthless debt deduction under Section 166 when the debt went bad, or be stuck with a capital loss upon liquidation in some future year.
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Buy-out executives themselves admit that performance will be more ordinary in future, since debt, which powered private-equity firms' profits, won't quickly return to pre-crisis levels.
It was also the cause of the subsequent run up of the price of gold, which was followed by a bust in gold and thereafter, a huge boom, in which ordinary Americans were lured into debt and coaxed towards poverty.
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These include side deals "not made in the ordinary course of business, " debt-rating changes, unregistered stock sales and more.
As Paul Krugman (the most prominent apostle) explained in The New York Times the other day, the burst of the housing bubble has caused ordinary people to retrench and pay down debt.
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Alibaba said it financed the deal with a mixture of cash, senior debt and the issuance of convertible preference and ordinary shares.
He says that "Simpson Miller faces a massive challenge" in getting the reforms through and that many "poor and ordinary Jamaicans view Jamaican elites as those who caused the debt problem and, conversely, who have suffered the least from its consequences".
Laden with debt, banks are simply more reluctant to lend to ordinary households and firms than they were in the years before the crunch.
In the past ordinary investors have been shut out of the solar boom, as most projects obtain equity or debt financing from banks and corporations, which lately are not so eager to lend for solar projects.
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In a blogpost on FT.com on Thursday, economist Heleen Mees noted that rating agency Fitch has warned it may downgrade the debt of other Dutch and European banks if a government rescue of SNS Reaal wipes out ordinary bondholders.
One explanation is that, as bank loans begin to trade in the secondary markets like ordinary bonds, the banks themselves are less interested in preventing borrowers from imploding than when they kept the debt on their books.
Against this tumultuous backdrop, Haarde vowed Tuesday that ordinary Icelanders would not pay the price for this spending spree and that his country will not default on its debt.
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