A _little_, I guess. No guarantee you as a bondholder will be paid par value

That would depend on the nature of the company's demise and who has top priority, wouldn't it?

Undisciplined

A few, but I never understood why this critique mattered... Even in bankruptcy/acquisition, the liability just transforms or gets paid or taken over by someone else... Doesn't matter that the 

 current form of the company assets won't exist that long, no?

econ

These Bonds Are Ridiculous (WSJ, Spencer Jakab)

denlillaapan

A few, but I never understood why this critique mattered... Even in bankruptcy/acquisition, the liability just transforms or gets paid or taken over by someone else... Doesn't matter that the _exact_ current form of the company assets won't exist that long, no?