“We have been called to heal wounds, to unite what has fallen apart, and to bring home those who have lost their way. Blessed are they who love their brothers and sisters as much when they are sick, as when they are well and of service. And blessed are they who love their brothers and sisters as well when they are far away, as when they are close. When you leave this earth, you can take nothing that you have received, but only what you have given.” Francis of Assisi
Default risk as indicated by the five year credit default swaps on corporate bonds from Seeking Alpha
There is an obvious shift in risk in the bonds after the Fed bailout of Bear Stearns, but the stocks are not showing a similar shift for the obvious reason that while the creditors may expect some favored treatment, shareholders obviously do not.
