The government takes the risk of default.
Some of them don't fear default.
Back then, just a couple of weeks short of defaulting on its debt, with the markets in crisis alert and the government in shutdown, Congress finally agreed to a temporary solution delaying the problem until this month.
TIP OF THE WEEK: The default layout of the Windows 7 Start menu is arranged to give you quick access to the most used folders on the PC.
Mr. Tanzi, 65, resigned earlier this month after the company teetered on the brink of default for weeks.
That same week derivatives markets put the odds of default for Washington Mutual, a large thrift (or savings bank), at 85%.
In other words, House Republicans will have brought the country to the brink of default, put us through weeks of economic uncertainty and turmoil, and accomplished absolutely nothing.
He took up that job within weeks of the Russian default in August 1998, and was obliged to write off a series of bad Russian debts.
Mr. Negrin then bought credit-default swaps — instruments that serve as insurance policies on the bonds, in the case of default — and profited when the deal was announced a week later, the S.E.C. said.
Even the world's largest bond investor, Pimco, this week said bondholders will have to share the burden, and some sort of default seems inevitable.
But with Cyprus coming close to the precipice, in danger of default and leaving the eurozone, that optimism was severely tested during the week.
