Balance sheet deterioration “increasingly alarming”: Goldman
This is where junk debt hits stocks.
A Vicious Circle.
The toxic miasma of “distressed debt.”
Wall Street engineering at its best. Investors now get their hands burned off.
Bond investors, armed with other people’s money, haven’t got the message yet.
Now spilling from junk-rated energy companies to other sectors.
The cost of capital…
It’s a good deal for everyone. Until it isn’t.
Chesapeake’s bonds are plunging.