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Mr. Geithner said, "You either prevent default, because default would be cataclysmic, or you don't.
Since then, Treasury has been resorting to "extraordinary measures" to prevent default.
I plan to get in the IBR plan as soon as possible to prevent default.
Greece needs the money to prevent default when a bond comes due in March.
Such blinkered views do not help Greece, and will not prevent default or mitigate its consequences.
This is because the government can always print the money it needs to prevent default.
Similar(20)
After all, the goal of the bailout would be to prevent defaults.
Barack Obama hoped to prevent defaults with a plan designed to encourage banks to refinance the mortgages of those unable to pay.
The lower payments on refinanced loans would help to prevent defaults and free up money for borrowers to use for paying down principal or consumer spending.
While the recovery rate is impressive, critics say it has left the government with little incentive to try to prevent defaults in the first place.
Within a year, Mr Burton predicts, originators will enter the mortgage market, which will not prevent defaults but might add a level of transparency lacking in the once vast market for mortgage-backed bonds.
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