I question what happens after the Fed goes on a corporate bond buying binge, and then the bond issuers file for Ch. 11 bankruptcy protection. Ordinarily, the equity interest holders are wiped out. And, the bond holders become the new equity holders through the reorganization and recapitalization process of Ch. 11. Does this mean that the Fed will end up being significant equity holders of corporations if this crisis drags on and businesses default on their loans?