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Originally Posted by bkkandrew  2. Straight repudiation
Either one in late September, but certainly before the election (unless McCain suddenly looks a cert to win, as this may delay the inevitable). |
As a neophyte I just looked up "repudiation" on investopedia:
Quote:
Repudiation
 When one party refuses to honor their terms in a loan contract.
 This is often seen when a new government is elected and refuses to settle debts acquired by a previous government.
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Link:
Repudiation
Who think a new administration can come in do this? Honest question from a neophyte.