Aug 16, 2009
Treasury Default?
According to this site, the much and unfairly maligned Credit Default Swaps are now ranking IBM, Pepsi, and McDonald's less likely to default than the U.S. government.
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Robert Higgs - 3/4/2009
Well, Jeff, in light of how the credit default swaps are pricing the risk of Treasury default, I presume that strict government regulation of these instruments must be right around the corner. Can't have these financial-market saboteurs wrecking all the wonderful things the government is trying to do, now can we?