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Imagine the hardships that will befall the surviving spouse with an assetless trust, especially if restrictions or limits have been placed on the use of the decedent's trust, which is common.
These assetless products had no underlying value, and had to be written off. leading to massive losses.
Clearly, if anything happens they can sue the legally well-constructed, but assetless, corporation that owns the building.
It's been nearly a year since what we now know as the subprime crisis melted down the markets, caused banks to begin writing down billions in assetless assets, and forced The Federal Reserve Bank to come to the attempted rescue of the American economy by injecting still more billions into the banking system and cutting interest rates seven times.
The next step: taking Landstar's assetless model abroad.
Such that assetless tossers bring spurious actions knowing that no penalty can be levied against them should they lose.
When Arbind Singh was named Social Entrepreneur of the Year for 2008 in India, one of the award's sponsors described Singh's non-government organization (NGO), Nidan, as "[building] profitable businesses and people's organizations led by assetless, informal workers."
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