[WOSG]

"You are correct in your analysis, Richard. The political class refuses to allow the bad debt to be liquidated. The same thing caused the Great Depression. Liquidate, and get it over with."

GACK! Largest bankrupties rolling through last year (kmart, wcom, gx, etc.) and you say that. If you believe that, I have $100,000 of WCOM bonds I've got to sell you at par.

[Iris7]

You are in agreement with the Big Boys on the need not to liquidate the bad debt, it seems. I believe liquidation would have effects that are impossible for the political class to accept. For this reason what needs doing will not be done until events force the issue.

And why in the world would I be interested in World Com bonds, of all things?