As shown below, the cost of credit default swaps that insure against GE Capital default have spiked sharply over the last few days. As of this morning, it cost about $680 per year to insure against the default of $10,000 in bonds for five years. While this doesn't represent all of General Electric (GE), GE Capital's default would no doubt do a number on the overall company and the economy. You think a GE collapse would get Congress to do something?
