A Quote by John Delaney
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.
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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.
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.
The United States has never prioritized or failed to pay any obligation when due during a debt limit impasse. Despite the institutional risks and the lack of clear legal authority, we assume that Treasury will attempt to prioritize payments in a last-ditch effort to avoid default.
The full consequences of a default or even the serious prospect of default by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and on the value of the dollar in exchange markets. The Nation can ill afford to allow such a result. The risks, the cost, the disruptions, and the incalculable damage lead me to but one conclusion: the Senate must pass this legislation before the Congress adjourns.
Nine of 10 whites in Chicago borrow from top-drawer banks and mortgage companies, which the industry calls prime lenders. They lend to people with A credit ratings, making loans at competitive rates.
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.
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.
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.
Not raising the debt ceiling does not trigger a default, because we've got enough money to service our debts. Default is when you can't service your debt.
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.
We borrow 40 cents out of every dollar that we spend. We borrow most of it from countries like China. They have become major creditors of the United States and have more power over our economy than we want them to. So dealing with this is not only the right thing economically, it's certainly right from a moral viewpoint.
If we get to the point where we damage the full faith and credit of the United States, that would be the first default in history caused purely by insanity.
My default position is not to be an actor. My default position is to be a follower of Jesus Christ. If that means I continue in acting, great! I'd love that. But if it means I need to change professions someday because I can't provide for my family, well, that's what I need to do.
The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
We do not want Ukraine to default. On the contrary, we need an economically viable partner. However, debts should be paid, and this includes state and commercial debts
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