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New US Treasury Secretary's $25 million debts written off.
 
The US Treasury Secretary, John Snow, knows all about debt write-off. According to a story in the Washington Post, Mr. Snow borrowed $25 million from his company, to buy shares in his company. When these shares collapsed, the debts were promptly "forgiven".
 
For more, see below;
 http://www.washingtonpost.com/wp-dyn/articles/A32850-2002Dec9.html