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There shouldn't be any.  That's a private contract - I think but IANAL - between the bond holder and two or more parties.  The State should only perhaps, depending, guarantee the underlying bond.

The Neo-libs are always shouting the State should not interfere with private contracts so ... the State should not interfere and let the derivatives go south.

Skepticism is the first step on the road to truth. -- Denis Diderot

by ATinNM on Fri Feb 4th, 2011 at 01:30:27 PM EST
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