Who Cares How Fast You Can Sell Debt If Borrowers Can’t Repay It
A Walter Energy Inc. 5.5-mile overland conveyor, which carries coal from Mine No. 7, snakes over the hills of central Alabama.
Source: Walter Energy Inc. via BloombergThis article is for subscribers only.
What if corporate-bond buyers focused less on how quickly they could trade the stuff and more on the basic question of, are they actually going to get their money back?
Because, in a growing number of cases, they may not.