Yet even when loss of shareholder value is a long-term consequence of the acquisition, the company executives responsible for the misjudgment usually remain unscathed.
While I agree that the Fed has to buy up these treasuries to slow down the inevitable rise in longterm rates, it is the consequence of an equally bad policy of encouraging the engagement in the carry trade at the expense of savers in the first place.
As a consequence, the Debtors do not have a competitive cost structure and cannot achieve viability on a long-term sustainable basis in their industry.