Against Monopoly has posted a Tom Toles cartoon which exactly expresses my feelings on how we are "solving" our credit crises. We have to create more credit so that people can once again buy products that they are not able to pay for.
In typical corporate fashion, General Electric has issued a disingenuous press release. The press release states: "The Company also announced that it will no longer provide specific quarterly EPS guidance. Instead, the Company will provide a full-year operating framework with detail in the industrial and financial businesses. The Company remains committed to high levels of disclosure and transparency, and will continue to report all of its quarterly segment details." So GE is committed to operating in a transparent manner by not disclosing anticipated earnings information.