Junk bonds’ crunch is nothing like the 2008 housing meltdown

From marketwatch.com

The correction in junk bonds is not a repeat of the 2008 financial market meltdown. Indeed, the movie adaptation of Michael Lewis’ book The Big Short reminds us what an epic mess the mortgage crisis was, and how much willful ignorance it took to produce. It’s too bad that Wall Street hypesters promoting the idea that the “junk bond crisis” is producing a 2008-like mess apparently are so cash-strapped they can’t afford a movie ticket to relearn what actually happened. Put simply, the idea that the recent 10% drop in junk-bond prices is a peril to most retail investors — or to the macroeconomy — is ... (full story)