California Is More Likely to Default than Iceland or Iraq

Filed in Bank Gold, economy, Federal Reserve, gld by on May 12, 2010 0 Comments

The Federal Reserve isn’t the only one who owns credit default swaps betting that California will default. As Ed Harrison points out, credit default traders have now ranked California in the top 10 governments likely to default, with a 20% default probability: WRH permalink

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California Is More Likely to Default than Iceland or Iraq

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