Also this morning is one of my favorites Jim Rickards describing how there is no price discovery in the bond markets anymore as we live in some Alice in Wonderland where it is more important to predict what the Fed will do than actually analyzing fundamentals. Further, some discussion on the same themes I had presented in the past in terms of what *should* have been done in the banking system i.e. the General Motors treatment for the oligarchs (but the horse is out of the barn). To this day I am amazed GM bond holders were slashed and burned, while bond holders in the finance world were treated like royalty and handed the taxpayers money without condition. Pathetic.
[May 5, 2010: [Video] Jim Rickards Speak Truth on CNBC "I Can't Find any Metric Where U.S. isn't as Bad or Worse than Greece" - Anchors Can only Scratch Head]