S&P is enforcing the boldholder’s financial commitment, in essence, by refusing to play along with a transaction between two sides of a deal. The third party which has just placed a bet on the deal on the side has veto power over what those two sides do. That’s really what we’re saying here.
The Bond Market Makes Its Move in Greece |
| By: David Dayen Tuesday July 5, 2011 12:25 pm |


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