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The US Congress is once again flirting with brinksmanship. There has been a temporary reprieve on the debt ceiling until December. Discuss the ramifications and

The US Congress is once again flirting with brinksmanship. There has been a temporary reprieve on the debt ceiling until December. Discuss the ramifications and implications of not raising the debt ceiling and defaulting on national debt. Who owns the debt? How are US treasury interest rates determined? What does all this mean for how we determine the risk free rate for discounting cash flows, CAPM, and other corporate finance calculations?

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