tag:blogger.com,1999:blog-3358148998045555545.post6163968673127747988..comments2024-03-28T04:27:27.713-05:00Comments on May Day Books Blog: The Counter-Revolution ComethCoreyhttp://www.blogger.com/profile/07629684440934461513noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3358148998045555545.post-66686548931929899372010-09-02T06:52:52.644-05:002010-09-02T06:52:52.644-05:00The "high-yield" securities were high yi...The "high-yield" securities were high yield precisely because there was higher risk attached to them -- i.e, the company might go belly up. In the same way that government bonds of weak countries have to pay more percentage-wise than those of say, Germany and Switzerland. It was an interesting innovation by Milken, who flogged it for all it was worth. If memory serves, Trump's casino in Atlantic City was financed with junk bonds. Of course, this is just another example of financial parasitism. Milken eventually was released from prison with his ill-gotten hundreds of millions safely stashed away.AAhttps://www.blogger.com/profile/13242448989166177843noreply@blogger.com