The notion that taxpayers and public workers will feel the budgetary pain, while bondholders won't vanishes in the presence of thought.
A very good precedent to keep in mind. @eradke @carney what happened to bond holders in GM? History may repeat itself
Selling muni CDS is the new leveraged muni fund. Recipe for disaster for sellers if portfolios get big enough.
How many top Russian officials were openly advocating default in, say, February 1998?
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