Tomorrow, the Credit Default Swap contracts come due: George Washington's Blog: Thursday is D-Day Basically, Thursday that bad debt comes up for auction, the people who issued the debt are on the hook for whatever the bad paper auctions off for, a lower price means they have spare money to lend out Much more money then the 850 Billion dollar bailout. There is more riding on that auction then the nightly news would ever bother to mention.
