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Keyword: debtcontrol

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  • Executives at collapsed Iceland bank jailed for fraud

    12/31/2012 4:00:01 PM PST · by opentalk · 12 replies
    Reuters ^ | December 29, 2012 | Reuters
    REYKJAVIK (Reuters) - Two former executives at an Icelandic bank which collapsed in the 2008 financial meltdown were sentenced to jail on Friday for fraud which led to a 53 million euro loss, in the first major trial of Icelandic bankers linked to the crisis. All three of the small North Atlantic island's top banks collapsed in quick succession in October 2008 due to big debts incurred during a rapid overseas expansion. Glitnir was the first to fall after the collapse of Lehman Brothers caused international credit markets to freeze up.
  • White House Ignores Interest Payments in Claiming to Control Debt

    02/16/2011 11:01:42 AM PST · by Constitutions Grandchild · 9 replies
    Fox News ^ | 2/16/11 | Judson Berger
    The Obama administration's statement that the government will not be adding to the debt by the middle of the decade clashes hard against the facts, Republicans say, leaving officials straining to justify the budget claim they've pushed repeatedly over the past few days. As it turns out, the administration is not counting interest payments. That means the budget team plans to have enough money to pay for ordinary spending programs by the middle of the decade. But it won't have the money to pay off those pesky -- rather, gargantuan -- interest payments. So it will have to borrow some...