Davies, Daniel wrote: > >We've been through this before, but much of the profits that, say, >>Ford and GM earn from their finance subsidiaries come from financing >>cars and trucks. So it's not speculative profit - they're making the >>money the bankers used to make. > >Yeh, but .... it got bigger by an order of magnitude in the 1990s. I don't >think that GE Capital makes most of its money by financing fridges and >air-conditioners any more. And that's without getting into the profits >Microsoft booked selling puts on its own stock ....
Yup. No question about it. But measuring the scope of it would take some work. Microsoft plays financial games, but they make software, and that's where most of their money comes from. So even they don't fit the hollow model perfectly. Doug
