Friday , May 7 2021
Home / David Stockman /This Time Is Different: Debt Recoveries From Bankruptcy Have Been Just Pennies On The Dollar

This Time Is Different: Debt Recoveries From Bankruptcy Have Been Just Pennies On The Dollar

Summary:
Bankruptcy filings are surging due to the economic fallout of Covid-19, and many lenders are coming to the realization that their claims are almost completely worthless. Instead of recouping, say, 40 cents for every dollar owed, as has been the norm for years, unsecured creditors now face the unenviable prospect of walking away with just pennies — if that. https://www.bloomberg.com/news/articles/2020-10-26/bond-defaults-deliver-99-losses-in-new-era-of-u-s-bankruptcies?sref=PnLZeVWM

Topics:
David Stockman considers the following as important:

This could be interesting, too:

David Stockman writes A Real Law & Order Campaign For The GOP: Abolish The FBI!

David Stockman writes Lurking Behind The Mask Cult: Collateral Illnesses And Totalitarian Impulses

David Stockman writes Why The Collapse Of Stonks Is Near—120 Years Of Proof

David Stockman writes Lost In The Culture Wars—Why The Republican Party Is Useless

Bankruptcy filings are surging due to the economic fallout of Covid-19, and many lenders are coming to the realization that their claims are almost completely worthless. Instead of recouping, say, 40 cents for every dollar owed, as has been the norm for years, unsecured creditors now face the unenviable prospect of walking away with just pennies — if that.

https://www.bloomberg.com/news/articles/2020-10-26/bond-defaults-deliver-99-losses-in-new-era-of-u-s-bankruptcies?sref=PnLZeVWM

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

Leave a Reply

Your email address will not be published. Required fields are marked *