‘Functionally Bankrupt,’ But Honest About It
February 04, 2011 at 09:05 AM EST
A guy told me the other day that he is “functionally bankrupt.” He has around $57 billion in outstanding debt (it takes awhile to add it all up), but he’s planning to borrow $5 billion more in the next year or so. Would you like to lend him some of that money? I wouldn’t. The [...]
