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Kotok Quick Take: Rick Newman on US Default Risk
“This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it.” – Elon Musk Market-based prices tell us that the risk of a US default is higher than zero. I comment on Rick Newman’s must-read June 3 Yahoo Finance piece on default risk and what it’s costing us.…
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A Memoir: Mike McKee’s Lobster Dinner!
In his email to me yesterday, Mike McKee of Bloomberg summarized his recollection of August 5, 2011. The setting was our annual gathering at Camp Kotok: We were keeping an eye on Washington as budget negotiations faltered and questions about breeching the debt ceiling grew louder. But nothing much happened that day. In Maine, good…