"HIGH YIELD JUNK BOND"
Exploitation of labour is a concept defined as, in its broadest sense, one agent taking unfair advantage of another agent. Marxists state it is a social relationship based on an asymmetry of power between workers and their employers. When speaking about exploitation, there is a direct affiliation with consumption in social theory and traditionally this would label exploitation as unfairly taking advantage of another person because of their inferior position, giving the exploiter the power. In finance, a high-yield junk bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade. These bonds have a higher risk of default or other adverse credit events, but offer higher yields than better quality bonds in order to make them attractive to investors. Companies with junk bonds in their investment portfolios revealed that new and gaping wounds had been inflicted by the junk market’s 9-month-old collapse in 1990. And corporations that had used the high-risk paper to expand in the ‘80s were finding--as the critics had warned--that those dazzling deals were sometimes too good to be true. Some of the companies were disabled only temporarily. But many others seem fated to join the rusted hulks and scattered debris of America’s growing corporate junkyard. This painting illustrates the effects of the junk bond crisis and its effects on industry and the American worker.