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Originally Posted by afc wimbledon
Would it be fair to say though that the GI's claim was good enough that the bond market took it seriously?
I would assume if it was completely without basis those in the legal departments of the various brokerages and banks would tell their employers/customers not to worry about it.
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I think even a minor risk of litigation, let alone successful litigation, would be enough to chill the market without concessions being made in pricing. A completely baseless claim wouldn't have that impact, but there are certainly points of argument here, at least enough to have a court entertain them.