The Never-ending Alchemy of Hidden Debt

The Never-ending Alchemy of Hidden Debt

Corporations hide their balance sheet debt routinely, with their lenders, advisors, auditors, rating agencies and media sycophants abetting their collective efforts in maintaining the image of not only solvency, but of nonstop growth.  Trouble is, sometimes this banal financial alchemy catches up with them, and then crises happen, whether limited to the firm, or in […]