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The Value of Being Approximately Right

I like low P/S, and high net (net of all debt) cash per share. there are some great ones to be had out there. Companies that could essentially take themselves private with nominal financing if they wanted to but instead generate

Banks Scramble to Refinance Their Long-Term Debt

And I thought it would be WAMU that goes under, looks like its AIG.

AmEx Misses: The Bear Trap Thickens

If AXP is the gold standard, that bodes poorly for COF,MA and V.

Debt Datapoints of the Day

I agree with the lottery/policy idea of privatizing the fund flows of the very people that provide them, to save them from themselves.

But why would a state government ever want to do that when there are nice suburban schools that need new electronic chalk boards? Recall that the great "tobacco settlement" was supposed to provide healthcare and counseling for these same poor addicted masses, and instead, those funds typically were transferred to the general funds of the state coffers in return for "tobacco bonds."
Taxpayers ought to look at this money for what it is, an end run way to tax the poor and stupid on a voluntary basis and transfer it to middle and upper class. Privatize them, and let them issue dividends instead, just like the toll roads.