Chris Whalen: California Will Default…And Then It Gets Interesting

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According to Chris Whalen, it’s not a matter of IF the People’s Republic of California, it’s a matter of WHEN (and for the record, we agree 100%). There’s no way out of current debt and pension obligations, Whalen told Yahoo Tech Ticker (full interview and video here).  Something’s gotta give – and it’s likely to […]

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This may be an interesting time to go long a future “credit event” involving debt issued by the State of California.  Trading volume in Intrade’s Prediction Market is still light – but those 2011 contracts sure look potentially interesting: Source: California (as usual) bucked the national trend last night as a lone bright spot […]

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