Should Asset Managers Become Credit Counselors?

Consumers are maxed out. Businesses large and small founder because they can't borrow money as usual. Unless credit, a.k.a. liquidity, starts flowing again, everybody is done for.

Except . . . .

Apple sold almost 7 million iPhones last quarter, outselling Blackberries. Sales of Mac computers rose another 21 percent. But here are the truly amazing statistics:

Apple's debt at the end of this fiscal year: 0

Apple's cash: $25 billion.

Sounds like asset managers have a clear choice: Retrain as debt counselors or look for business from Steve Jobs and his crew.