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SAN FRANCISCO (MarketWatch) -- The creation of a "car czar" to oversee the federal bailout of Detroit's car makers might trigger what's known as an event in the vast market for credit-default swaps, prompting holders of General Motors Corp. and Ford Motor Co. credit protection to demand payments from their counterparties, analysts said.
Such an event is also likely if a federal bailout falls flat and either company files for bankruptcy, as many investors fear.
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SAN FRANCISCO (MarketWatch) -- The creation of a "car czar" to oversee the federal bailout of Detroit's car makers might trigger what's known as an event in the vast market for credit-default swaps, prompting holders of General Motors Corp. and Ford Motor Co. credit protection to demand payments from their counterparties, analysts said.
Such an event is also likely if a federal bailout falls flat and either company files for bankruptcy, as many investors fear.
...