When a corporation grows old and loses energy, a popular plan is to take it over with money borrowed against its liquidation profits, then strip it for profit. That’s the business of high-risk or “junk” bonds and it can make people rich, if they don’t care about what’s ethical, legal or decent. In a tough, well-mounted new drama at the La Jolla Playhouse, Ayad Akhtar elaborates.

When a corporation grows old and slows down, one plan is to take it over borrowing its stock against the value that can be stripped from its wreckage.
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