I wanted to make this a longer posting, but... you know. Anyway, we've see AIG's first quarterly profit since 2007 and Goldman Sachs' -- who was largely the recipient of the credit default swaps we covered -- something like best quarter ever, as well as the biggest and most sustained sucker's rally in the history of the markets. Cash for Clunkers has teased a lot of money into Ford's pockets.
So, I just wanted to capture and crystallize what we've learned, which I think is this:
If you give money to corporations, they will then have that money.
Anyway, CfC is no doubt creating a lot more uncoverable debt; I kind of wonder who's financing it.
My father was always intrigued by the Hebraic tradition of the Jubilee Year, where all debts were forgiven. I kind of wonder if the government will pass a law making it illegal to collect on debts incurred before the enactment date.
I kind of wonder if we'll go to war over it.