Bankrupt PG&E Plunges as California Wildfires Roar

The transcript discusses PG&E's ongoing bankruptcy, highlighting market concerns about equity and bondholder reactions. It explains the unique nature of PG&E's situation, involving state backstops and restructuring plans. The discussion covers the role of insurance and the need for a capital infusion to address infrastructure issues. Future challenges, including potential fire causes and necessary repairs, are also explored.

In what ways could the recent wildfires affect PG&E's bankruptcy proceedings?

What role does wildfire insurance play in PG&E's financial recovery?