[lbo-talk] Is Goldman Sachs Buying LA?

[Jordan Hayes]

Doug:

Before you change the subject, this is worth bringing up, if only to 
scare Ferenc more:

http://ftalphaville.ft.com/blog/2011/06/16/595271/la-conduit-fidential/

http://www.latimes.com/business/la-fi-irs-conduit-20110616,0,6285622.story

https://self-evident.org/?p=877

http://www.bondbuyer.com/issues/120_111/california-largest-conduit-audits-investigation-1027659-1.html

---

Now:


> what do people think the probability of Greece defaulting is?
>
> I'd say 30.

In these days of CDS, it's controversial what this even means :-)

I think a more interesting question is: what's the probability of a US 
default?

/jordan