In addition to Fr Devine, I think it's political and legal.
Bonds get to stand in line in front of stocks by contract,
and the bond market is much bigger than the stock market.
Bill O'Connor wrote:
"Jim Devine" <[EMAIL PROTECTED]> writes:
by the way, here's a mystery: if the financial capitalists are so
politically strong, why is it that equity-holders (in Bear Stearns,
AIG, etc.) don't get bailed out?
I believe that the political contributions of financial capitalists
simply buys deregulation not any guarantee of individual successes. A
comparison might be that the Laborers International is a powerful union,
but no Laborers *local* is guaranteed a good contract.
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