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Telecom carriers, junk bonds, and industry consolidation

  • TC2 Blog
  • 10/14/2011
  • David Rohde

“Junk bonds” carry the connotation of a ridiculous investment, suitable only for high-risk speculators and day traders. The highly derogatory term seems to have been coined in the late 1980s, during one of the bubbles in financial markets that seem to go bust late in every decade. (Leveraged buyouts and S&Ls in the late 1980s; dot-coms and copycat CLECs in the late 1990s; housing and mortgages in the mid to late 2000s – quite a pattern, huh?)

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