The Fed “Owns Credit-Default Swaps … On Debt Owed by California and Nevada. So the Fed Would Profit If One of Those States Defaulted on its Debt.”

2010-05-13 Washingtonblog.com

What about this one folks…….. “The Fed also owns credit-default swaps — basically, insurance policies that pay off if a borrower defaults on a loan. It holds swaps on the debt of Florida schools, and on debt owed by California and Nevada. So the Fed would profit if one of those states defaulted on its debt.”

Full Article and Comments Here

May 13, 2010 Posted by picklerealestate | Banking, Foreclosure, Investments, Lending, Real Estate, Stats | Leave a Comment

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