Business Insider ^ | 04/17/2011 | Joe Weisenthal
Posted on Sunday, April 17, 2011 10:34:43 PM by The Magical Mischief Tour
We continue to be astounded by the emergence of the pro-default meme within financial circles.
Previously it was Chris Whalen and Dean Baker taking the stance that the US could default with minimal negative ramifications.
Now it's someone at a major bank: BofA's credit strategist Jeffrey Rosenberg, whose note from Friday is titled The Case For Default (via @dutch_book).
He explicitly rejects the doom camp, and thinks temporary default could be managed without significant market interruption.
We don't find his argument to be all that convincing.
Read more: http://www.businessinsider.com/bank-of-americas-jeffrey-rosenberg-says-the-us-should-default-2011-4#ixzz1Jq08RIAx
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