I'm in Awe of How Long Zombies Like J.C

Penney Keep Getting New Money to Burn. But Bankruptcy Beckons
In 2013, I called Goldman Sachs a snake-oil salesman for underwriting a $1 billion J.C. Penney stock offering. Investors got wiped out. Now the bonds, including a 100-year bond, which has collapsed. J.C. Penney, which just took another step toward what will… #BestMugHook