[Iris7]

You are in agreement with the Big Boys on the need not to liquidate the bad debt, it seems. I believe liquidation would have effects that are impossible for the political class to accept. For this reason what needs doing will not be done until events force the issue.

And why in the world would I be interested in World Com bonds, of all things?

[WOSG]

"And why in the world would I be interested in World Com bonds, of all things?"

It's a joke, as in "have I got a bridge to sell you".
If you really believe your line about "not liquidating dept" you'd go for it, they sell for 20% of par. A steal if debt was being propped up. It isnt.

But of course, WCOM *is* chapter 11, creditors *are* taking baths *huge* baths, on $400 billion in overinvestment in telecom and communications infrastructure. What you claim is not happening, in fact *IS* happening.

True story: I did lose near 6 figures on WCOM bonds and related asset classes. Ouch.