Biotech Values

[medchal]

"Here's an amusing instance of market inefficiency...." It does seem to me that the story is more about credit anomalies than "market inefficiency". The market may have gotten the level of risk of both the sovereign and private debts discussed in the story exactly right--with ruthless efficiency--in this case. The situation seems less than amusing, and if the U. S. does not reform its fiscal policies, it won't much longer have credit too high to be rated (as the debt has always been considered for over a century).