Wall Street is a no lose place if you are in the inner circle. They reap billions when they guess right. They reap billions when they are outright thieves, and when they get caught, the shareholders pay the fines. Vott a country!!
I don’t know who ‘created the PR bond mess’ (presumably the PR government had to borrow the funds in the first place?)
but ...
if the bonds are deemed now to be unacceptable security... this could start a forced sale of other assets (not just the bonds themselves)
will try to watch how this plays out...
ping