Good, vastly better than I expected it to be.
One further thought. If those are the minimum haircuts possible, won’t every bank have to write down such loans to at least those levels?
That Banking Deal
April 21st, 2008 · 1 Comment
Tags: Finance
Tim Worstall
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1 response so far ↓
1 Jim Winfield // Apr 21, 2008 at 8:16 pm
Could be that the system is designed to impose such stringent terms that no bank will take them up on it – because it indicates they are in trouble.
Weren’t there some countries in Africa that refused to have their debt written off by the “Make Poverty History” campaign – because it would ruin their credit rating for future loans?
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