The reality of risk-free


For critics of the UK's ruling Labour party, the May 21 decision by Standard & Poor's (S&P) to slap a negative outlook on the country's cherished AAA credit rating was an opportunity to make hay. Right-wing tabloids branded it a national humiliation and ran pictures of the Queen looking less than amused. The opposition Conservatives repeated their calls for a general election. The political hullaballoo was attention-grabbing, but, a day later, the spotlight had moved on. In contrast, the denting

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