What has me wondering...... I have not seen any stories to suggest there is, but are there really no Pittsburgh connections here at all? That would be good, but it seems a bit improbable.
Just on the general topic of financial pathologies... My favorite financial columnist Joe Mysak over at Bloomberg has a comment on how some investment banks are now advising clients to buy credit default swaps on some state governments. Pretty much betting that state governments will go bankrupt and default on their bonds. I'll let him explain how pathological that is given the firms' other business with states... but I really have been wondering if there are any credit default swaps out there on any City of Pittsburgh debt? I have found nothing to say there is. Anyone know if such a contract is out there?