Subject: Re: Huge GSE IPO - messy factors
The U.S. has never defaulted on its bonds since the Revolutionary War.

I recently read the biography, "Alexander Hamilton," by Ron Chernow. Alexander Hamilton made the financing of the incipient and actual United States the bedrock of his career. He used many strategies to pay the bondholders who financed the Revolution and the government. Many others (such as veteran soldiers) were stiffed but the bondholders were always paid.

Wendy