Sentences with phrase «whole on their bad debts»
Insolvent homeowners in Europe face a lifetime of literal debt peonage to make the banks (even foreign banks, which dominate Central Europe's post-Soviet economies) whole on their bad debts as the continent's real estate prices are plunging even more steeply than those in the United States — some 70 percent in Iceland and Latvia.
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The Treasury is taking responsibility for making bad lenders and bad investors whole, but leaving bad debts and even Negative Equity on the books and even putting the government in the position of «debt collector of last resort.»
They see it as a bad move to take on a whole new loan or debt when they still have so many things to pay off.