Do all loans have "a pound of flesh" clause?
Update: 2025-08-27
Description
Almost all companies borrow money – some of secured by assets they own, other debts unsecured. But is that distinction meaningful in the real world? Chicago Booth's Raghuram Rajan talks about his research into corporate debt. In the past century, the amount of unsecured debt has soared. What's the significance of that, and is it really unsecured?
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