I agree I think that dynamic could definitely play out... I'm less sanguine about how orderly such a shift would be in practice however, and the level of comple

I agree I think that dynamic could definitely play out... I'm less sanguine about how orderly such a shift would be in practice however, and the level of complexity in financial markets today I am skeptical that destabilization would be limited to holders of distressed bonds (even if it was, those bondholders are probably major institutions whose problems could lead to more bailouts, derivatives being triggered, etc)