Tuesday, July 07, 2009

Marc Lasry - Hedging on Distressed Debt

Marc Lasry of Avenue Capital Group spoke today on Squakbox. He claims that $400 billion of debt will need to be refinanced by 2015 (from 2010 to 2015), which may mean bankruptcy for many companies. He also anticipates the default rate to double. Is this a small wave we are experiencing - to be followed by another wave five years later?

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