Wall Street Capitalism The Theory of the Bondholding Class

AbstractThe following sections are included:When Bonds Fail to Move StocksWhen the Market Fails, it is SystemicThe Crash of Milken's Bond MarketAlan Greenspan and Junk Bonds Contribute to the Savings & Loan DebacleJunk Bonds and Other Bond Innovations Create Commercial Banks “Too Big to Fail”Financial Derivatives to Cover Rising Bond Risk Threaten the Commercial Banking SystemBets on Bonds Go Wrong at Long-Term Capital Management: Greenspan Arranges a BailoutCan the Federal Reserve Be Trusted to Do the Wrong Thing Again?The Great Speculative Bond CasinoNotes