US sovereign default: Wall Street quietly gets ready to exploit the Doomsday scenario
Wall Street financial firms are taking steps to reduce the risk of holding US Treasury bonds. US banks are angling for novel ways to make profits during the expected default upheaval. Hedge funds have changed gear. Many are already invested in heavy de-risking strategies. The Federal Reserve Board is in active default contingency planning mode. Scores of insurance companies, pension funds and mutual funds are coming under boardroom pressure to dump their US Treasury holdings.
In the last month, in the American financial districts, the D-words (default and downgrade) have become dominant in the lingua franca of resigned coffee shop punditry. More here (21.07.11), here (21.07.11), here (21.07.11), here (20.07.11) and here (20.07.11).
http://alcuinbramerton.blogspot.com/2011/04/altnews7-1ab-alcuin-alcuin-bramerton.html