1 | It is obvious today that America has defaulted on this promissory note, insofar as her citizens of color are concerned. | |
2 | But although they may lose their jobs and default on their loans, they will not be troubled by collapsing asset prices because they do not own assets. | |
3 | The real danger is that prices could fall substantially further if there are widespread defaults and foreclosures. | |
4 | These developments have reduced the risk that a default by one of IBRD's largest borrowers would impair the Bank's ability to carry on with its mission of reducing poverty around the world. | |
5 | They know their customers' credit scores, credit histories, what they buy, when they buy, and when they are likely to default on their payments. |