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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (218774)	2/11/2005 10:08:08 AM
From: Elroy	Read Replies (1) \| Respond to of 1574139

Very simple folks. Bankruptcy = when liabilities exceed market value of assets. Simply wrong. A company doesn't go bankrupt until the liabilities are due. Anyway, I'm not interested in social security, and you don't seem to care that Qwest fits your definition, yet isn't bankrupt.

To: RetiredNow who wrote (218774)	2/11/2005 10:10:12 AM
From: Road Walker	Read Replies (1) \| Respond to of 1574139

re: Very simple folks. Bankruptcy = when liabilities exceed market value of assets. Has Social Security declared bankruptcy? Chapter 11, chapter 7? If not, then it's not bankrupt. Legal definition. John

To: RetiredNow who wrote (218774)	2/11/2005 10:11:30 AM
From: Elroy	Read Replies (1) \| Respond to of 1574139

Bankruptcy = when liabilities exceed market value of assets I'll post the proof that your definition is wrong again, just for clarity's sake: ------------ Qwest has liabilities greater than its assets, because it has a negative stockholders equity. Here's a link to the release www4.qwest.com Assets = $24.926 billion Liabilities = $27.403 billion Shareholders Equity = -$2.477 billion Qwest is neither insolvent, nor bankrupt! Ergo, you be wrong!

To: RetiredNow who wrote (218774)	2/11/2005 10:37:27 AM
From: zonder	Read Replies (3) \| Respond to of 1574139

I post the dictionary's definition of bankruptcy. Bankruptcy = when liabilities exceed market value of assets I will say this only once. Hearing the message is up to you. This is the real definition of bankruptcy: "A state of insolvency of an individual or an organization — in other words, an inability to pay debts." datek.smartmoney.com/glossary/index.cfm "inability to discharge all your debts as they come due" www.cogsci.princeton.edu/cgi-bin/webwn "A condition in which a business cannot meet its debt obligations and petitions a federal district court for either reorganization of its debts or liquidation of its assets." www.4hb.com/25b.html "Bankruptcy is a legal declaration of the inability to repay debts." 1-debt-consolidation-loans-and-services.org/glossary.html "The financial inability to pay one's debts when due." mortapps.iucu.org In other words, it is not the level of assets vs level of liabilities, but your inability to PAY interest and capital on your debt that is the deciding factor in whether or not you can be considered bankrupt. There are quite a few companies with long term loans that exceed their assets at some point in time but are NOT bankrupt because they have no problems paying the interest on their debts. As long as they have cash flow that meets their operational expenses and financial obligations (i.e. debt payments), the company can slowly build its assets and decrease its liabilities through debt repayments or even simple operations like reducing non-debt liabilities such as accounts payable, all of which of course has little to do with its ability to meet financial payments on its debts. This is no subtle mystery. Spend two minutes on Google searching for define: bankruptcy and you will see all this. Insisting on some "definition" you say you saw somewhere is pointless, in my humble opinion.

To: RetiredNow who wrote (218774)	2/11/2005 12:44:24 PM
From: tejek	Read Replies (1) \| Respond to of 1574139

Very simple folks. Bankruptcy = when liabilities exceed market value of assets. So are you saying that at the time SS becomes 'insolvent'.......your term, not mine........that at that time, US liabilities will exceed US assets? If so, you're nuts..........bit time! I've got to believe whatever contribution SS makes to our national debt in 2042......that is the year, when the ca ca hits the fan, isn't it........American assets will still exceed liabilities. Am I right in your humble opinion? ted