July 21 (Bloomberg) — For CIT Group Inc., the emergence of a $3 billion loan agreement with bondholders preventing bankruptcy shows there is life after death in the credit markets.
This is the “Dog Ate My Homework” edition 🙂
I’ve been burning the candle at both ends lately, what with my job winding down (amazingly, it winds up before it winds down, having to train my replacements), a big vacation planned for August (while I still have money, a car, and a house — hehe), and 2 kids that are growing up way too fast…
So, like any good student (of life), when the chips are down, you missed your assignment, you’re in danger of failing an exam —
Actually, this week, I’m taking a pass. We’ve been talking about how to build wealth, how to brainstorm business ideas, and how to get started.
We’ll pick up on that next time around.
This week, I want to direct you to a post that one of my fellow Personal Finance bloggers, Lazy Man, wrote, entitled, “Wealth Creation: Is it a Myth?“
He postulates that wealth creation is a zero-sum game: Any time I make a dollar, somebody loses a dollar; thus, it’s a zero-sum game.
It’s an interesting concept. His post got a lot of people talking. Make sure you read the Comments for my take on the question, where I give the “functional” reason that wealth-creation is NOT a zero-sum game (Lazy Man mentioned it briefly in his post) — but absent banks, there may in fact be no wealth creation.
Check it out. Tell me what you think in the comments here.