Subject: Re: 100% Stocks
Companies are going broke right and left, which causes stocks to go down and down but they keep paying the interest on their bonds no problem.

What happened to GM bonds when they went BK (and were bailed out with government money) in the GFC? Those bonds became essentially worthless and were replaced with some equity after the bailout.

Of course, that wasn't the way bonds versus equity was supposed to work, but government made it a condition for the bailout.