Caesars Palace and Speculative Credit

           Speculative credit fills a void in capital markets between safe lending to investment grade governments and companies and equity capital which has the last claim in bankruptcy. Speculative credit was also a market neglected by large investors until attitudes towards the asset class changed, especially in the 1980s. Once this happened, risky ventures found a

Defoe on Trade, Commerce, and Credit

           It is easy to presume that business writing is a relatively recent genre of literature. One would think that novels have been around far longer. Reality can be surprising though and it happens that business literature has been around for centuries and, in the English language at least, novelistic writing hardly predates it by much.

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