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Tag Archive 'rating agencies'

You Say Potato …

Posted in Corporatism on Apr 24th, 2008

The following is excerpted from remarks by David Einhorn in October 2007:
Consider municipal bonds. According to S&P’s long-term data the 10 year default rate on an A rated municipal bond is 1%; while a corporate bond’s default rate is 1.8%; and a CDO’s is 2.7%. An A rated muni has the same chance of default […]

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