Delaware Treasurer Prepares for Possible Default

Delaware State Treasurer Colleen Davis is preparing for the potential federal government default and taking proactive measures to protect Delaware’s financial interests. She says the State’s overall investment portfolio holds about $2.3-billion in U.S. Treasuries – and a default on the part of the federal government could result in significant loss if an agreement is not reached. Delaware does have resources to meet its financial obligations in the near-term without the money from the U.S. Treasury holdings.