Keynes Question

[Brad DeLong]

>
>
>I believe that this is pretty close to the official position of
>Brad DeLong.  Personally, I've always been in favour of default
>and let-the-chips-fall-where-they-may.  Of course this is only
>a general philosophical opinion and should not be taken as
>specific advice to any sovereign or supranational body who
>might be considering default in a specific situation.
>
>dd

If you could move thing through bankruptcy proceedings quickly and 
quickly settle the losses where they are to ultimately fall, yes.

If not, then the socialization of losses seems the most pragmatic option...

Brad DeLong