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Detailed text transcripts for TV channel - FOXNEWS - 20110730:19:44:00

First from my facebook page, eric asks, what is so horrible about default. why shouldn t creditors who choose to invest pay the consequences? give them a haircut. one of the problems is, it creates competition down the road, if you have foreign governments and pension funds are investing. you are asking them to take a haircut. so a government over time going to reduce debt but rely on debt for some time. if you stiff creditors you risk the fact they won t come to the well anymore. it s more than risk. they won t come to the well at the same time. even more expensive but the real risk is that some people will step out of the market almost completely and you can t finance all this debt unfortunately that we. have stephanie asks, i understand the debt has been ....

Shouldn T , Eric Asks , Pension Funds , Come To The Well Anymore , Have Stephanie ,

Detailed text transcripts for TV channel - FOXNEWS - 20110730:19:44:00

Eric asks, what is so horrible about default. why shouldn t creditors who choose to invest pay the consequences? give them a haircut. one of the problems is, it creates competition down the road, if you have foreign governments and pension funds are investing. you are asking them to take a haircut. so a government over time going to reduce debt but rely on debt for some time. if you stiff creditors you risk the fact they won t come to the well anymore. it s more than risk. they won t come to the well at the same time. even more expensive but the real risk is that some people will step out of the market almost completely and you can t finance all this debt unfortunately that we. have stephanie asks, i understand the debt has been raised many times. ....

Shouldn T , Eric Asks , Pension Funds , Come To The Well Anymore , Have Stephanie ,