Short Sellers Aren't Valeant's Biggest Problem
It's the debt, stupid!
A Valeant Pharmaceuticals International sign is displayed outside the company's headquarters in Mississauga, Ontario.
Photographer: Norm Betts/BloombergThis article is for subscribers only.
"I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But now I want to come back as the bond market. You can intimidate everybody," political strategist James Carville is said to have quipped in the early 1990s.
Valeant is about to find out just what a bully bond investors can be.