Stuck in a death spiral, Venezuela is borrowing money at any cost

Last week, Goldman Sachs acquired $2.8 billion worth of bonds issued by Venezuela's state oil company at just 31 cents on the dollar, paying $865 million for the securities. Now Venezuela is looking even more desperate, offering $5 billion worth of bonds at 20 cents on the dollar through a Chinese brokerage, according to the Wall Street Journal, whose reporters have been tracking the country’s attempts to secure emergency cash...READ MORE