Subject: Credit Default Swaps
'That was the Faustian bargain in granting companies "corp"-orate status - they have equal "status" with you in the courts, but they can exercise far more economic clout than the vast majority of individuals can ("classes" of individuals at least have a fighting chance) - they can afford far, far more lawyering than you or I. When companies have difficulty servicing their debt, that raises the odds of a default, which angers the gods of CDS, and they induce volatility in the market and require that more capital pay attention to them. By lowering rates, companies whose debt is little more than a promise can at least keep that promise for a little while longer.'
"The presentation or 'gift' of the Holy Ghost simply confers upon a man the right to receive at any time, when he is worthy of it and desires it, the power and light of truth of the Holy Ghost, although he may often be left to his own spirit and judgment." --Joseph F. Smith (manual, p. 69)
Be pretty if you are,
Be witty if you can,
But be cheerful if it kills you.