“I gotta go find out where my bonds are located and dump them like a hot potato. Secured corporate bonds are not worth the paper they are printed on. All bonds are officially “junk” bonds”
I suppose what the refusal of SCOTUS to review the Circuit’s decision means is that not enough of the conservative majority on the court felt there was a serious constitutional issue there. It will be interesting to see what, if anything, happens on the bond market today.
What could the constitutional issue have been?