The Unfair Advantage of a Bankruptcy

The company uses a spread to issue debt and then use that to buy what you need to buy. It's much earlier in the securitization of all that stuff than it was for them, obviously, when they got to the financial crisis. The system is set up to probably offer you better than single digit returns. And yet, i, you know, so whenever a trade's below book, you would just think it's too cheap,. especially now because some other financiels gone up quite a bit.