Default Swaps Trading on U.S. Debt Doubles

Who would the US have a debt problem? Greece/etc cannot print.

Did someone big shorted the dollar when e/u was at 1.49, or missed going long? Is to the story to give a second chance?
 
It's a technical game (there's a deliverable bond trading with a low 80s handle) and there's been lots of unfortunate shorts, who sold at completely wrong levels.
 
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