Malkiel

Subprime Meltdown: Untested Territory

So based on past practice I would expect the dozen or so creditors of NEW to miraculously come the unanimous conclusion that they will not declare it in default, with hammerin' Hank Paulson and other G-men (G for "greenback" here) perhaps working the bullpen to make sure that happens. In fact, today's rise in NEW shares must mean that somebody's already come to that conclusion or knows what moves are going down...