Bets are on of Haliburton default.

[dixiegrrrrl]

The cost of insuring debt of Halliburton Co and Transocean Inc against default rose sharply.

Switzerland-based Transocean Ltd (RIG.N) (RIGN.S) operated the oil drilling rig that exploded in flames on April 20 and collapsed two days later, leading to massive oil spills. Halliburton (HAL.N) has said it did a variety of work on the rig.

Credit default swaps on Halliburton rose by 11 percent on Friday to about 71 basis points, while swaps on Transocean Inc. climbed 6 percent to about 95 basis points, according to data from Markit Intraday. Rising credit default swaps indicate investors see greater credit risk at the companies.

http://www.reuters.com/article/idUSN3015114920100430

[azul]

1. Lights up my brain's money-pleasure-centers somehow.

Imagine betting on the planet cooking industry to fail, and winning, and saving species in the process.

[Joanne98]

2. YES!

[dixiegrrrrl]

3. So, JoAnne...this is good, huh?

[girl gone mad]

5. Fingers crossed!

[Statistical]

4. Everyone is aware that 100 basis point = 1%.

So the likelihood of Haliburton defaulting went from 0.60% to 0.71%. And Transocean from 0.89% to 0.95%.

Essentially CDS writers are still projecting a 99%+ likelihood of solvency.

[Kringle]

7. is that ... cost per year ?

so it costs 0.71% per year to insure
Hal's debt?

[shimmergal]

6. Isn't there any way we can sue

Halliburton for all they're worth (and collect) BEFORE they go into default?

The money could be put to so many better uses--like, say, teachers' salaries for those states which have been cutting needed positions recklessly because of budget shortfalls.

Cheney's ill-gotten gains alone would probably go a long way toward a new stimulus to restore solvency to states. And/Or to the Federal Govt., for that matter.