Especially if you buy high-yield bonds with those borrowed money knowing the rating agencies are a joke and the people issuing the bonds hold the central banks

Especially if you buy high-yield bonds with those borrowed money knowing the rating agencies are a joke and the people issuing the bonds hold the central banks hostage, lest their default tanks the economy. Or use the money to buy back stocks, knowing that all your privileged buddies are doing the same, and if central banks would dare to raise interest rates you wouldn't be able to repay those loans, again holding the economy hostage with your scheme.