[hawk59]

[ QUOTE ]
[ QUOTE ]
Do you remember how bad things were in 2002-2003? Everybody was afraid of everything, credit worthy companies couldn't get financing at reasonable terms, credit protection on investment grade credits traded at 300 bps, junk bonds were trading at historically huge spreads, and it was a serious fear that huge companies could go bankrupt overnight due to Worldcom and Enron

[/ QUOTE ]

[ QUOTE ]
Why were the last 5 years different from any other time?

[/ QUOTE ]

[/ QUOTE ]

I really don't understand what you are saying. There are always going to extreme events that take place. Nobody can predict them, even though lots of people think they were obvious after they already happened.