Comment by renewiltord
2 years ago
So the sucker here is the bank? Can't say that I care that much about that. It's just business and the banks apparently suck at it. They can foreclose on the business and sell it off to someone who relaunches it.
2 years ago
So the sucker here is the bank? Can't say that I care that much about that. It's just business and the banks apparently suck at it. They can foreclose on the business and sell it off to someone who relaunches it.
Yep, and banks come out ahead on average too. That's why they choose to lend to PE.
Some mortgages and credit cards end in bankruptcy too. They set their interest rate according and it is a cost of doing business.
Don't the banks just print the money when they lend out anyway? Before the loan the money didn't exist. I suppose the bank is still holding the bag for the unpaid debt.
I think the sucker is always regular people. The ones that worked at these companies, and the collective us that the banks pass these costs down to