Having spent some of the last week in London (between deposition prep sessions) talking to people about the US (and, yes, with apologies to my partner and friend Mike Bono I did use apocalyptic political language), one question that has come up is — what effect does the shutdown (we’ll leave the debt ceiling discussion for a later post) have on the business I underwrite? Well, at least for the product recall market, it appears that the answer is — “significant.” A chicken related salmonella outbreak has arisen in California and, it appears that, even if the release of contaminated product is not the result of a lack of government funding, the government’s inability to respond may be.
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