Crux note: Stansberry Research founder Porter Stansberry has been warning readers since last November about the massive wave of bond defaults on the horizon… along with the havoc it will wreak across the entire financial world. It’s a situation he calls “the greatest legal transfer of wealth in history.” Here at The Crux, we feel that every investor should understand this situation and the risk it poses to your financial well-being. Finally, it looks like the mainstream media is catching on. Here’s the latest on the story from Bloomberg…

From Bloomberg:

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When the next corporate default wave comes, it could hurt investors more than they expect.

Losses on bonds from defaulted companies are likely to be higher than in previous cycles, because U.S. issuers have more debt relative to their assets, according to Bank of America Corp.…