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Location: By the sea, by the sea, by the beautiful sea
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Quote:
Originally Posted by VTHokieFan
You don't know absolutely anything about finance if you don't consider that a default.
"In finance, default occurs when a debtor has not met his or her legal obligations according to the debt contract, e.g. has not made a scheduled payment, or has violated a loan covenant (condition) of the debt contract."
We did not meet our obligations under the debt contract. Our creditors may have been given the opportunity to make the exchange, but it is still a default. Sorry
They redefined the 'dollar' and still paid under the terms of the contract, how is that default? It may be semantics but they didn't refuse to pay off the value of notes.
They redefined the 'dollar' and still paid under the terms of the contract, how is that default? It may be semantics but they didn't refuse to pay off the value of notes.
Because they redefined the way in it was paid. That's a default. Sorry. Gold certificates vs fiat currency. Any way you slice it, we defaulted.
Ah, another member of the ODL (0bama Defender League). Apparantly does not read papers, listen to the news or ever acknowledge that his leader has feet of clay.
What ever happened to the 0bama statement that all sides need to compromise to get a deal done? I guess his idea of compromise is to only agree with him and let him have his way.
This is your leader and you are welcome to him. He is soon to be gone.
I would like to know that he did say it that way, it's just that it doesn't sound like Obama. If you have a cite from someone in the room, other than Cantor or his staff, that he did, please provide it.
They redefined the 'dollar' and still paid under the terms of the contract, how is that default? It may be semantics but they didn't refuse to pay off the value of notes.
Actually after doing more research the 1933 situation it technically is a default.
All blocked and fillibustered by guess who?... The Republiklans...
Thank God!
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