Data reported in the news media and other sources show that the prices, or spreads, on California CDS wrongly brand our bonds as a greater risk than those issued by such nations as Kazakhstan...
The Financial Times asks where Borat is when you really need him: "Maybe Bill Lockyer 'not make benefit glorious state California'? Taking a page out of Greece's playbook, the peeved treasurer of America's largest state fired off letters this week to the chiefs of Goldman Sachs and other banks questioning their marketing of credit default swaps on California's debt."
Well, probably our treasurer Alexi won't do the same. (As if it would or should do any good. Illinois, heal thyself.) He has his own problems.
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