#177 Robert Campeau (Junk Bonds and Retail Bankruptcy)

This is the story of a marvelous financial calamity. Not so wonderful if you happen to be a creditor. Of which there are fifty thousand. at current count. But marvelous in the way that it happened.

A stranger comes to Wall Street. borrows nearly four billion dollars to acquire a company that six months earlier he had never even heard of. This transaction is scarcely settled before he's allowed to borrow seven billion more. To acquire a bigger company. Making him a major force in retailing.

An industry He knows nothing about. The companies he acquired. were successful retail enterprises which before Bob accidentally having taken an interest in them had a fifty year unbroken unbroken record of pay their bills.

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