It's just that credit (gah stop inventing new names like "fixed income" all the time!) markets have started fascinating me (especially corporate bonds are interesting in a time of infinitesmal government coupons).
I blame you and Jerome.
And yes, the current crisis is partly due to people who don't really knew what they were doing started looking for higher yielding bonds, there's no need mentioning it. ;) Peak oil is not an energy crisis. It is a liquid fuel crisis.
That's not what markets are about. CDS price default risk, they don't predict it. The peak-to-trough part of the business cycle is an outlier. Carnot would have died laughing.
