Default swaps in essence grant an option on default to the buyer of protection.
One way to visualize the damage from ZIRP is to recognize that the spread between real and nominal interest rates is analogous to the spread between rates on default-free and risky debt.
That 20% statistic tells me home ownership values have changed dramatically for those on the verge on default, but not for the financially stable homeowners still managing to stay on top of their monthly mortgage payments.
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In stepped the investment bank industry with another solution: We'll take your mortgages, securitize them, slice them into categories based on default risk, use computer models to match default risk with yield and sell them to buyers around the world.
But we remain absolutely confident that the United States will not for the first time default on its obligations or risk default on its obligations, that Congress will act appropriately.
Additionally, despite the Centers for Medicare and Medicaid Services (CMS) requiring that a state indicate it is able to repay its CO-OP loan, one estimate indicates that as many as 40 percent of CO-OPs will default on the planning loans and 35 percent will default on the solvency loans.
Other plans agreed in July, to make private investors take a hit on any default by Greece on its debts, are also now seen as insufficient.
The MiniStore was turned on by default in the upgrade of iTunes released on 10 January.
Publicly, world leaders have said there is "no plan" for a Greek default, but reports suggest officials are working on a plan to allow Greece to default on some of its debts and remain in the euro.
Congress could either provide guidelines to the executive on how default spending reduction is to occur or it could give the president authority, after paying all interest on the debt and Social Security payments, to whittle spending down as it sees fit to squeeze it within the debt limit.
The Argentine government and the Fund are close to a state of open warfare: as the IMF continues to insist that any rescue package for the country depends on commitment to urgent reform, the Argentine finance minister on September 24th threatened to default on the country's debt to the Fund.
Focus is on whether the EU leaders can provide help so that Greece will not technically default on its debt obligations, or whether some level of default will occur with Greece, and will be acknowledged by the EU as going to occur.
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When you view Vine videos within the mobile app itself, the sound is on by default.
Internet Explorer 10 on Windows 8 will be the first browser to have DNT on by default.
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The point being that the vast majority of computer users simply leave their machines on the default settings.
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When users install Google Maps on their iPhone, the option to share location data with Google is switched on by default.
We fall back on the default, and the default is: Do Something.
There is no lower limit on the default necessary to trigger a blacklisting, so a missed phone-bill could render someone ineligible for loans.
Company schemes can keep costs down by focusing on the default fund, the option that employees end up with (since they have difficulty making their own choice).
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Portugal may be the best bet (no pun intended) based on credit default swap rates, and that certainly is consistent with the current speculation about an official bailout.
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Although the investments resembled bonds, paying buyers a fixed interest rate for taking on the default risk of corporate debt, the products invested in synthetic collateralized debt obligations held by Lehman.
On the question of private sector involvement, attention has understandably focussed on the default issue, and whether it is credible to simply assert that this will apply to "Greece and Greece alone".
Google funnels tens of millions dollars to Mozilla in exchange getting for a valuable spot on the default home page of the browser preferred by the most avid Web surfers and developers.
Blink is about 10 weeks away from landing in the stable version of Chrome (it's expected to be turned on by default in version 28), but it's already available as part of the Canary build.
"The days when a major insurance company could bet the house on credit default swaps with no one watching and no credible backing to protect the company or taxpayers from losses must end, " Mr Geithner told Congress.
Apple touted the service's ability to recognize when you're messaging someone else eligible for iMessages, but it appears to be limited to e-mail addresses at this point in the BETA. Delivery confirmation is turned on by default, but those of you who don't like the thrill of the chase will be happy to learn that there's an option to disable read receipts.
"Unprincipled speculators are making billions every day by betting on a Greek default, " Papandreou said on Monday after meeting with U.S. Secretary of State Hillary Clinton in Washington.
But there was growing consensus on one thing: There should be no default on the nation's debt.
The Senate and House are expected to vote today on a throw together strategy to avoid a default on the debt ceiling ( more on what the debt ceiling is here).
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