Word: iou
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...able to blame the Saudis, who had three reasons for stepping out of OPEC's shadow Monday. They're concerned about the Asian and Latin American economies - too-pricey oil could choke off nascent recoveries and reduce demand down the road. They're mindful of that Gulf War IOU they still owe the U.S. for getting (and keeping) Saddam out of their backyard. And they're not anxious to become one of the Bush-Gore presidential campaign scapegoats. Gore has so far been content to bash Big Oil (the U.S. kind) and Bush the current administration's energy policy...
According to McNamara, Williams told his victim that he needed cash for a train ticket. When the student lent him the money--over $250, according to police reports--he wrote an IOU with a false name...
...inequalities (which we can expect to be exacerbated in the fallout of the Newtonian Congress) is no panacea for China's woeful inability to understand democracy, and Tong's choice to ignore China's growing social problems (guns and crime, a floating workforce of over 100 million, IOU's to farmers, severe poverty) is obvious...
...damages arising out of litigation, the firm is setting aside reserves that almost certainly will exceed its profits, which have totaled $451 million so far this year. To head off a liquidity crisis, the investment house triggered its emergency financing plan, which calls for a shift from short-term IOU's to secured loans that pay higher rates...
Milken has already made what amounts to a whopping down payment on his penalty. When he was indicted on racketeering charges last year, Milken promised to post $700 million to keep prosecutors from seizing his assets. So far he has handed over $300 million in cash plus an IOU for another $300 million. The remaining $100 million was in the form of Drexel stock, which became worthless when the firm went bankrupt last February. Result: Milken has in effect put up half of his $600 million fine...