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• n  someone who has insufficient assets to cover their debts
• a  unable to meet or discharge financial obligations
  an insolvent person
  an insolvent estate

• How do you tune out all the chatter and ink on recession, housing, subprime woes, the credit crunch, rogue traders, insolvent bond insurers, $100 oil and nukes in Iran?.
• The insolvent ones you have to shut down.
• The $50 billion bond issue would be spent to liquidate or auction off the remaining 300 or more insolvent savings and loans.

• bankrupt

• solvent

News & Articles

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• Gold Surges
  Nothing like the smell of a fresh Eurozone (thank you Greece!) crisis in the air, to remind everyone that in an insolvent world, where every counterparty is suddenly once again suspect (and collateral-free), there is only one asset class that has no counterparty risk (although the distinction between paper and physical gold is still a far too complicated lesson for most) - gold . And headlines ...
  June 12, 2013 - Zero Hedge
• Even with Detroit's staggering debt, Orr tells residents: Safety is a priority
  In front of a packed audience Monday night in a Wayne State University auditorium, Detroit emergency manager Kevyn Orr told residents that the city is insolvent and that his job is to prepare a path forward that gives the city a sustainable future. He also told residents including Lucinda Darrah, above, that public safety is his #1 priority.
  June 11, 2013 - Detroit Free Press
• San Bernardino Judge May Appoint Mediator for Calpers Fight
  San Bernardino, the insolvent California city, may need a mediator to help the city resolve its bankruptcy court battles with the state’s pension fund, a judge said.
  June 6, 2013 - Bloomberg

Quotes

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• David Paterson in Albany Times Union
  Individual legislators are promising special interest groups that their pet projects won't lose out in the budget process,Paterson said. "But the fact is that everyone will lose if the state of New York becomes insolvent."
• Arnold Schwarzenegger in Press-Enterprise
  Our wallet is empty, our bank is closed and our credit is dried up,Schwarzenegger told lawmakers. "If we don't act, the state will simply run out of money and go insolvent."
• Jim Lloyd in The Australian
  An independent financial assessment ...... concluded that the Norfolk Island Government would probably become insolvent within the space of two years,Mr Lloyd said in February.