Stare Decisis

Heavy debt issuance to finance the artificial-intelligence buildout has rattled the bond market & pressured investment-grade AI corporate bonds. Goldman Sachs tallied AI hyperscaler debt supply at $296 bn so far this year, exceeding its $250 bn forecast.

In 1883, a 31-year-old widow in New Mexico Territory signed one document and lost her store, her savings, and the building she lived in. The sheriff told her it was a civil matter. Lawyers wanted money she no longer had. Margaret Sullivan ended up washing other people’s clothes in a boarding house. She bought secondhand law books and studied by candlelight after 14-hour days. She taught herself contracts, fraud statutes, and legal procedure. She also discovered the man who ruined her, Thomas Wardell, had done the same thing to businesses in Colorado and Kansas. She tracked down seven other victims and spent two years collecting evidence. Then she took him to court herself. Wardell arrived with expensive lawyers from Denver. Margaret arrived with seventeen binders. The trial lasted three weeks. She questioned witnesses, presented the records, and won. Wardell was ordered to pay full restitution. She did not stop there. She helped draft stronger consumer protection rules that passed in 1889. She reopened her dry goods store, later ran three locations, and hired other widows. She also began teaching women how to read contracts before they signed them. Margaret Sullivan died in 1924 at 72. The woman who once could not afford a lawyer had recovered what was stolen from her and made it harder for the same thing to happen to others.

the horses looked so personally offended. like they had no idea a moose was even a thing. pure disbelief.