Bill Gross: The Collapse Of Valeant Is A Preview Of The Failure Of Global Monetary Policy
Back in November, before the full extent of the Valeant fraud would start to become apparent as it has in recent weeks sending the stock to 6 year lows (there is much more to come now that the company is now engaged in a mudslinging campaign with its former CFO and its formerly biggest Wall Street backer, Goldman Sachs), we explained the Valeant phenomenon simply by writing that "in today’s broken markets and corrupt regime of central bank driven crony capitalism bubbles inflate in individual securities, as well as in broad sectors (e.g.