GM's Debt Crisis If its bonds are junk, how are the cars?

An interesting article can be found at:

http://slate.msn.com/id/2111294/



"none so blind as those who refuse to see..."


Chuck in Phoenix

"Chuck" <chuck@spamhater.com> wrote in message
news:gzHzd.4433$yW5.168@fed1read02...
> An interesting article can be found at:
>
> http://slate.msn.com/id/2111294/
>
>
>
> "none so blind as those who refuse to see..."

Chuck, you would appear to be a good example of your own quote: "none so
blind as those who refuse to see...", because if you had continued to read
the article, you should have also quoted: "The difference between the
highest form of junk and the lowest form of "investment grade" is marginal.
Many junk borrowers have turned out to be excellent long-term performers.
And as an asset class, junk bonds have performed very well over the years."

Just one more question - who the hell is the author of the article? I have
never heard of Daniel Gross and I'm an investment banker. You might just as
well have referred us to an article by chuck@spamhater.com because none of
us know his investment credentials either. "There is none so blind as he who
will not see." ;-)