Showing posts with label corporate IOU. Show all posts
Showing posts with label corporate IOU. Show all posts

Friday, 19 January 2018

dreams and nightmares - no. 13


the junk bond dealer...




 ...seeks release

The junk bond dealer is the 'bottom-feeder' in the deep sea world of international finance. He hoovers up dubious and risky corporate IOU's then recycles them in the form of tempting, competitively priced packages.

Unfortunately there is a tendency for such dealers to develop too close a bond with their junk. Should this happen drastic action may be required to break free.