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Wow. All over a tiny $150 million dollar bond. A good reminder how we take for granted systems that are stable. When often time they are only stable because of
by legitster 4y ago
Wow. All over a tiny $150 million dollar bond.
A good reminder how we take for granted systems that are stable. When often time they are only stable because of vigilance.
- HWR_14 4y agoNo, all over interest payments for 4 months on a $150 MM bond. So, even at 12% APR, $6 MM. But it became unstable because it suddenly made government bonds suspect. Like, if the US Treasury announced it was just not going to pay back a $1MM bond issue, the US and world markets would tank. Size is irrelevant.
- mjevans 4y agoTrust is priceless, as in irreplaceable. It's exactly why the laws should, maybe not make it impossible, but require a very high bar be crossed to do the sort of actions that breach that trust. As an example. The US debt ceiling thing, it really should be the reverse. It should take a 'super majority' of congress voting against raising that ceiling to limit it, even if it's an agenda item automatically included in each session's docket.