Ecuador recently became the first country to default on its Brady bonds, which were created in the late 1980s to allow developing countries to repackage bad bank loans into new bonds backed by U.S. Treasury securities.
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Jindal's comments come a day after the House passed a bill to permit the government to borrow enough money to avoid a first-time default for at least four months, defusing a looming crisis setting up a springtime debate over taxes, spending and the deficit.
And there is no question that if Congress does not compromise and does not act, that allowing the United States to default for the first time in its history would have severe economic consequences and would -- everyone, every family that owns a home and has a mortgage would be affected.
Assuming bondholders stand firm, then euro-zone governments face a straight choice: Either they step in to take a share of the losses for the first time in the crisis or they allow Greece to default, something they have fought hard to avoid for the past two years.
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First, the platform itself heats (to a default 110 degrees Celsius), followed by the extruders (220 degrees Celsius by default).
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Because, again, since no one knew which mortgage would default first, it was impossible to assign a specific mortgage to a specific bond.
European leaders have staked their credibility on the euro succeeding as a political project, so they are reluctantly preparing the new rescue package as a last resort to prevent the eurozone's first sovereign default.
For Soros, a Greek bond default is the first house of cards to collapse.
But first -- first, you have to actually select the Handwriting keypad as your default.
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To look at current municipal default statistics, your first reaction might be that we have erroneously displayed the corporate defaults for 2008.
Everybody acknowledged that we have to get this done before the hard deadline of August 2nd to make sure that America does not default for the first time on its obligations.
Bond insurance guarantees investors will get their principal back if borrowers default on their loans, but First Marblehead will have to pay premiums that will shave its profit margin, he noted.
In October 2010 she shocked Wall Street by sending BNY Mellon and Bank of America a notice of nonperformance, the first step in a process that could have allowed Patrick to declare a default on those bonds and sue BofA directly on behalf of the trusts.
The consequences of that are serious, as the first time in our history, and for the first time we risk default and we have obligations that exceed our capacity to fulfill them.
It is worth noting that, in the meantime, associate IMF membership might also have the virtue of vitiating the prohibitions imposed by the 1934 Johnson Debt Default Act -- enabling the USSR for the first time to issue bonds and other securities instruments in the United States.
Both attacks only applied to the millions of users too lazy to alter the default password used on their password when it was first installed.
But after Citigroup declared the loans were in default, Stern in 2009 made the fateful decision to push First Republic and its parent firm into bankruptcy court, resulting in multiple lawsuits involving many parties.
The loan guarantee acts as lenders' insurance in case of default or unforeseen delay for technologies trying to go commercial for the first time.
First, the household would face a lower stream of payments, thereby lessening the incentive to default.
We believe that it is very important that we have hopefully averted what would have been the most substantial headwind of all, which is a default for the first time in our history, and that that will contribute to a more positive environment that we hope will allow for greater growth and job creation.
We need to take action so that the United States of America does not default for the first time in its history.
What we are seeing is "what happens post a Greek default" played out on the screens of bond traders: your first impulse is to reduce exposure to anything that looks like Greece.
The first salvo was last month's proposal by the European Union to ban so-called naked credit-default swaps those in which buyers don't own the underlying bonds.
It would be the first default by a developed nation in living memory - and would increase the perceived risks of lending to other financially stretched eurozone governments.
The euro broke down in the first couple of weeks of September after having been incredibly resilient to sovereign debt woes and the possibility of a Greek default.
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Spreads, or risk premiums, on junk bonds in the U.S. have fallen to their lowest level in two years, while a fall in default rates in December marked the first monthly decline since October 2007.
And hopefully it will result in a broad agreement on significant deficit reduction that then also allows the Congress to move forward with making sure that the United States of America does not for the first time in its history default on its obligations.
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