Ben Bernanke

In September 2008, the two largest housing mortgage companies called Fannie Mae and Freddie Mac, which were government-sponsored enterprises, which hold hundreds of billions of dollars of mortgages, because of the losses they took on the mortgages, they essentially became insolvent, and the government had to take them over.

American Public Servant

Paul Singer

In both the U.S. and Europe, the budget and balance sheet numbers do not work. When 'off-balance sheet' promises are taken into account, the U.S. and most countries of the Euro zone are insolvent.

American Businessman

Walker Stapleton

If a division becomes insolvent, the credit markets' reaction to that is immediate - regardless of what period of time you think you have to remedy.

American Politician

Joe Heck

We know that Medicare is set to go bankrupt in 2024 with no action, and social security is set to be insolvent by 2037.

Used when a company legally can't pay what they owe and faces legal consequences.

Financial Crisis

Describes when debts massively exceed assets, often leading to bankruptcy proceedings.

Debt-Related Collapse

Implies legal action or intervention when one cannot settle debts.

Legal Consequence

Refers to a person, not just companies, who can’t cover their debts.

Individual's Debt

Insolvency can protect individuals from direct claims of creditors temporarily.

Protection from Creditors

Insolvents may have their assets sold off to pay debts.

Insolvent

Financial Crisis

Debt-Related Collapse

Legal Consequence

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