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

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 snipped-for-privacy@spamhater.com because none of us know his investment credentials either. "There is none so blind as he who will not see." ;-)