The mind can wander. This is a big corporate bankruptcy, and you haven’t seen many of them, given the sheer tidal wave of dollars that sloshes around a handful of firms that are really good at “liability exercise.

In the world of today, with massive dollar volume and AI usage assumed to be pari passu with human judgment, I wonder how many owners of First Brands debt really knew where they stood in this picture.

They are going to find out.