Re: Re: Why did Ireland bother? Don’t they have Trojan horses?

#101787
peterhun
Participant

ozmunky

I’ve been looking at the free CDS prices here.

http://www.markit.com/cds/most_liquid/markit_liquid.shtml

It seems they want a corporate email address to get prices at http://www.cmavision.com/market-data/#initial

@mark wrote:

It’s not at all like punching your bank manager in the street. It’s like sitting down with your bank manager and saying sorry I can’t pay back all the money you lent me.

And let’s be honest, the big boys like Pimco would take the hit then come back for more before long, albeit at a higher interest rate. They are going to get screwed by lots of Western governments, either by default, currency devaluation, or inflation, and in the end what difference does it make? Didn’t Bill Gross himself said the other day in his funny high-pitch voice that the US debt was like a Ponzi scheme? But who else are they going to lend to? Cuba? North Korea? They’ll be back.

Mark

With a higher rate of interest on all loans in future, the lender will basically get his money back. Argentina pays an extra 5% becuase of its default history (as I understand it), so it simply terms they are re-paying the defaulted money back after 15years. Why not avoid default and keep a lower rate?