TheStreet.com's Jim Cramer says until we have some failures, he doesn't share the pervasive gloomy outlook.Where are all the bank failures? When is a Freescale (NYSE: FSL) (Cramer's Take) or an Outback going to go under? How can Cerberus put on such a happy face? Why don't some newspaper or radio station companies fail?
As I read the article on Goldman Sachs (NYSE: GS) (Cramer's Take) today, I am struck by its sheer negativity. The Journal article makes it sound like Goldman is sitting on a pile of huge losses, paper that's never going to sell.
But I have to remind these naysayers that this is corporate debt, and corporate debt -- unlike so much of the housing debt of 2005-2007 -- is actually based on something, some standards, that actually might get it through.

Senator John McCain likes to say that the federal government is like a drunken sailor. He then apologizes to sailors.
Over the past few years, private equity firms have shown an appetite for mega deals -- and even riskier sectors, such as semiconductors.









