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Thread: Auto bailout could trigger credit swaps settlement

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    Join Date
    Nov 2006

    Default Auto bailout could trigger credit swaps settlement

    SAN FRANCISCO (MarketWatch) -- The creation of a "car czar" to oversee the federal bailout of Detroit's car makers might trigger what's known as an event in the vast market for credit-default swaps, prompting holders of General Motors Corp. and Ford Motor Co. credit protection to demand payments from their counterparties, analysts said.
    Such an event is also likely if a federal bailout falls flat and either company files for bankruptcy, as many investors fear.

    Last edited by Sapiens; 12-10-08 at 03:35 PM.

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