accounting for the profits of lending is the second blackest of the black arts (accounting for the profits of life assurers is the blackest). There are often very substantial gaps indeed between even the best accruals accounts and cash. If the debt ends up not being repaid, this earnings stream can be very volatile indeed, particularly if the collateral is a motor vehicle. watch yer eye would be my view, although the epithets "progressive" and "economist" apply to me only marginally at best.
General Motors is something like the third biggest lender in the UK's "buy to let" (speculative housing investment) sector - nobody knows why. dd -----Original Message----- From: PEN-L list [mailto:[EMAIL PROTECTED] Behalf Of Michael Hoover Sent: 23 July 2004 18:33 To: [EMAIL PROTECTED] Subject: Query: Ford/General Motors what is progressive economist take on ford and general motors releasng info the other day indicating that each only made profits from credit/lending operations... michael hoover -------------------------------------------------------------- Please Note: Due to Florida's very broad public records law, most written communications to or from College employees regarding College business are public records, available to the public and media upon request. Therefore, this e-mail communication may be subject to public disclosure.
