Systemically Significant Enterprise Debtors?
Hey guys - I'm new here so wasn't really sure where to post this somewhat odd question. Quick background: I have a finance degree and spent a couple years doing audits/ monitoring collateral on ABS transactions - mostly trade A/R, a lot of other stuff, but no mortgages. I'm now a third-year law student, focusing on bankruptcy. Hoping to practice BK for 3-5 years and then move into distressed debt.
I'm doing some research for a professor right now, and he wants to make a case that there are non-financial businesses out there that might be "systemically significant." The initial examples he gave me were P&G ($100 million+ losses on swaps back in '94) and GE (recently, deemed systemically significant by FSOC).*
Random Question: Can you guys think of any non-financial debtors that might be "systemically significant" by virtue of their derivatives exposure? Similarly, can you recall any non-financial companies, like P&G, that have lost big on derivatives outside of 2008?
Thanks in advance - and let me know if this post is in the wrong place.
*A couple things - I know that GE got its designation mostly because of GE Capital - a subsidiary business which is basically a bank. I don't necessarily agree with the hypothesis that the professor is trying to prove, I'm just trying to gather the requested information because...you know...monkey.
Any large commodities corporation (eg energy and mining) will have large derivative hedge books.
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