Relevant:
- The Economist's Cheery View of Credit Default Swaps
- Goldman Recommends Credit Default Swaps Against States
- Mandelman U. Presents: There’s Credit Default Swaps & then there’s Credit Default Swaps
- Illinois Leaps Ahead of California in Default Risk, Better than Iraq, Worse than Portugal; Pension Fraud in Milwaukee
- California foreclosures drop sharply
2009-08-08 — nakedcapitalism.com
"...California is being deemed a worse credit risk that Russia. Of course, that view would change quickly if oil prices were to decline sharply, as some observers like Philip Verlegger predict. But this isn't a fluke. Many emerging markets credits now have CDS spreads below that of many states and New York City. "
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