CDS Spreads of Ten worst Countries and Ten worst US States, page 1

California was run worse than 3rd world counties.

State.......... CDS Spread
Venezuela...... 1008.3
Argentina...... 1002.5
Ukraine..........896.8
Pakistan........ 877.4
Iceland..........674.6
Dubai............497.2
Latvia.......... 483.3
Greece.......... 384.4
California...... 301.4
Lithuania........274.9
Egypt............264.3
Romainia........ 250.9
Lebanon..........250.2
Vietnam..........249.6
Hungary..........247.0
Bulgaria........ 241.6
llinois........ 233.6
New York........ 224.2
New Jersey...... 222.2
New York, NY.... 211.7
Michigan........ 211.3
Nevada.......... 190.8
Ohio............ 136.8
Massachusetts....120.8
Connecticut......119.0
Texas............ 75.1
Maryland..........66.4

Ref: www.businessinsider.com...-cds-spread-2416-bps-1

www.businessinsider.com...-cds-spread-664-bps-1

en.wikipedia.org...

The "spread" of a CDS is the annual amount the protection buyer must pay the protection seller over the length of the contract, expressed as a percentage of the notional amount. For example, if the CDS spread of Risky Corp is 50 basis points, or 0.5% (1 basis point = 0.01%), then an investor buying $10 million worth of protection from AAA-Bank must pay the bank $50,000 per year. These payments continue until either the CDS contract expires or Risky Corp defaults.

All things being equal, at any given time, if the maturity of two credit default swaps is the same, then the CDS associated with a company with a higher CDS spread is considered more likely to default by the market, since a higher fee is being charged to protect against this happening. However, factors such as liquidity and estimated loss given default can affect the comparison.

Credit spread rates and credit ratings of the underlying or reference obligations are considered among money managers to be the best indicators of the likelihood of sellers of CDSs having to perform under these contracts.

[edit on 9-3-2010 by Dbriefed]

USDA Forces Whole Foods To Accept Monsanto
  Posted 12 days ago with 100 member flags

Greece wipes out Citizens Debt!! Tells Bankers to suck it
  Posted 13 days ago with 78 member flags

Proponents of Gold Standard May Be Violent Extremists; Report ALL Suspicious Activity To the FBI
  Posted 5 days ago with 44 member flags

Obama on the verge of a deal with the banks
  Posted 18 days ago with 23 member flags

Bankers requesting that Greece become their debt slaves
  Posted 16 days ago with 15 member flags

We’re on the brink, warns Greece ahead of summit
  Posted 14 days ago with 15 member flags

Heard a rumor on a disreputable anarchist forum....
  Posted 16 days ago with 12 member flags

The Real Story Behind the Greece Debt Default
  Posted 12 days ago with 11 member flags