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Posts tagged "bubble"

Why is Illinois Using Credit Default Swaps?

You remember credit default swaps, right, the financial “instrument” that pricked the housing and economic bubbles? Illinois is “enjoying” the same kind of debt bubble that led the nation into its current financial mess. I call it a debt bubble because if all the borrowing that the state does to keep it afloat ever becomes... Read more »

By Dennis Byrne,
September 3, 2010 at 2:00 pm

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  Chicago Tribune contributing op-ed columnist and author of forthcoming historical novel, "Madness: The War of 1812." Reporter, editor and columnist for Chicago Sun-Times and Chicago Daily News. Freelance writer and editor.

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