WSJ latest news-Cheap Junk, Expensive Errors


Cheap Junk, Expensive Errors
BY FRANCESCO GUERRERA
The Wall Street Journal Europe
07 May 2013

In 1977, a band of Los Angelesbased traders led by Michael Milken helped Texas International, an oil company, raise the first “junk” bond. The small issue—$ 30 million— opened a chapter in the history of finance. From then on, companies with…read more…

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