Another distortion and subversion of capitalism by central banks. They are either stupid and naive, or colluding in the channeling of newly printed money direct

Another distortion and subversion of capitalism by central banks. They are either stupid and naive, or colluding in the channeling of newly printed money directly into executives' pockets. Sometimes before, and inevitably after, their stint at the Fed/BoE/BoJ/ECB, they will be executives at those same companies, or the banks that take a cut of the transaction (print, repo, bond, equity, option - rinse, repeat). If those same CBs lose control and rates rise, and/or business turns down and margins decrease, those bonds will still be due, even when the shares they replaced would have fallen without any obligation. The company credit rating decreases. As they pass the BBB event horizon to a junk black hole, most fiduciary holders of those bonds will have to sell, thus accelerating the crash in corporate bonds as they all turn to junk and spreads blow out. So CBs turn robust capitalism into brittle cronyism.