'Criminal negligence': The best comments on the US debt crisis

A lack of trust in sovereign debt is a good thing Jeremy Warner at the Telegraph "If even US Treasuries are now regarded as a credit risk, is there anything left at all in the world of money that can be trusted? "The answer to this question is almost certainly no, but far from being a calamitous conclusion to reach, this might be viewed as a positive development which will in time restore market disciplines to a global monetary system which became based on make believe. "In fact, the idea of the sovereign as a ‘risk free asset' is a comparatively recent development which has no b...