A Quote by Charles Bass
There is a difference between strategic or technical default and default where you really don't have the economy to support the spending. We are not at that point yet. We could be. We could be, like some European nations.
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I've already lived through a default and it's very hurtful for society. No one could want a default as a solution.
By creating the European Central Bank, the member states exposed their own government bonds to the risk of default. Developed countries that issue bonds in their own currency never default, because they can always print money. Their currency may depreciate, but the risk of default is absent.
We assume whiteness is the default because whiteness, historically, has been the default. This is one of the many reasons diverse representation matters so much. We need to change the default.
I think the credit default swaps can take the place of the rating agencies who really have missed the ball in this procedure and are quite conflicted by the way the ratings are paid for. So, I would like to see credit default swaps become an evermore important way of understanding credit risk in the economy.
Time is running out fast. I think we have maybe a few months -- it could be weeks, it could be days -- before there is a material risk of a fundamentally unnecessary default by a country like Spain or Italy which would be a financial catastrophe dragging the European banking system and North America with it. So they have to act now.
If investors avoid the Treasury market, we could be unable to pay off maturing securities, which would mean an immediate default. Market participants generally agree that even a brief default would create potentially catastrophic risks to the financial system, like the meltdown of 2008.
I was able to use credit default swaps to protect not only my investments but the hundreds of jobs that exist because of my investment. I understand the dangers of credit default swaps and the benefits of credit default swaps.
Credit default swap gives you something to do. You can buy some credit default swaps from them to protect yourself against the bankruptcy of people who owe you money.
The web is at a really important turning point right now. Up until recently, the default on the web has been that most things aren’t social and most things don’t use your real identity. We’re building toward a web where the default is social.
The American people were really not 100% convinced that this idea of default was really going to occur, and I think the media, current company excepted here, did not help in that regard because they confused the American people about what default actually meant.
If we were going to default, we would have decided that many months ago. It would be wrong for the Greek economy, it would be wrong for the European economy, it would make things worse in the end. That's why we're taking the pain and making these structural reforms, and we're on target.
Default choices often remain unchanged for no reason other than being the default, either because of this lack of information or humans' status quo bias.
The best companies with the strongest credit ratings borrow like the United States: on a non-prioritized basis. This means that in the event of a default, all of their debts are of equal priority because lenders and creditors believe default is highly unlikely. And they spend considerable effort maintaining this status.
We're not going to default. We just won't default. I mean, there are ways of not defaulting even if you don't raise the debt ceiling, and even if you don't fund the government.
Credit-default swaps remedied the problem of open-ended risk for me. If I bought a credit-default swap, my downside was defined and certain, and the upside was many multiples of it.
Happiness is the default state of mind, lets reconfigure to reach the default state !
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