House Democratic Caucus Chairman Rep. John Larson, D-Conn., joined by House Minority Whip Steny Hoyer of Maryland, right, criticizes House Republicans during a news conference on Capitol Hill in Washington on Monday.By BERNARD CONDON, MATTHEW CRAFT and DAVID K. RANDALL
AP Business Writers
NEW YORK – Scrambling to protect themselves against a U.S. default, investors are buying gold and foreign currencies, using derivatives to bet on a stock market collapse and taking out complicated insurance policies.
They may want to consider crossing their fingers.
If the United States suddenly stiffed its creditors, the impact would be so widespread, complex and unpredictable that it is next to impossible to shield against steep losses, experts say.