As U.S. cities and towns wrestle with financial problems, investors are finding a new way to profit on their misery: by buying derivatives that essentially bet municipalities will default.

Across the Ocean, Greece’s debt is mounting by the day, while  the United States is starting to recover from the worst financial crisis since the Great Depression. 

Will there be a ripple effect from Greece’s economic crisis?

Andrew Gavin Marshall is a Research Associate of the Centre for Research on Globalization (CRG)