Preparing for default

Wall St. Makes Fallback Plans for Debt Crisis

By LOUISE STORY and JULIE CRESWELL

Published: July 20, 2011

Lawmakers in Washington are racing to reach a deal to save the country from defaulting on its debt, but on Wall Street, financial players are devising doomsday plans in case the clock runs out.
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Comment:  It's worthwhile to partake in the activities to prepare for default even if this time it should prove unnecessary. If default doesn't happen this time, it will do so in the future anyway. No effort lost.