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Betting $4.8 billion on a U.S. default
With its winners and losers, Wall Street is often likened to a big casino for obvious reasons. And even when it comes to a possible U.S. default next week, at least a few financial players are looking to cash in on such a bleak turn of events. A small camp of investors are betting that the U.S. government will default on its debt, and they're putting $4.8 billion of their chips on the table. In the event of a default, that's how much financial firms will have to pay out to investors who bought credit default swaps against the U.S. government, according to figures from the Depository Trust and Clearing Corp. With only ... (full story)
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- Jul 26, 2011 5:50pm Jul 26, 2011 5:50pm
- Guest
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- denwabiz
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- toptrader11
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- Lost_angles
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" Good things come to those who wait " ( bon jovi 'santa Fe' )
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- Jul 27, 2011 6:25pm Jul 27, 2011 6:25pm
- isaacyassar
- | Joined Sep 2010 | Status: a happy trader | 8 Comments
The tone of your words reflects the quality and result of your trading ;-)