Monday, Jan 29, 2007
Oh no, what a disaster!
BBC News: Share slump hits debt companies
Shares in several debt management companies have slumped after two of them issued profit warnings on Friday.
Posted by harold @ 05:55 PM (44 views) Add Comment
11 Comments
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1. Orwell said...
Why is that a problem?
2. Nohpc said...
It's not a problem. It's a good sign that debt is becoming less of a problem.
3. harold said...
Irony, dear boy.
4. Cyril Sneer said...
Harold, could you pass on this Top Tip to them, please?
When the bailiffs come round, shut the curtains, and lock the door from the inside....
5. inbreda said...
It's a problem because I owned shares in them!!!
The debt compaany problems are caused by increased competition and the banks tightening their sphincters as they realise that all of those over indebted cash cow customers might not repay the irresponsibly lent loans.
To me, it shows that banks are beginning to grasp the likely size of their bad debt problem and are starting to panic. I reckon bank shares will start to fall dramatically soon.
6. little professor said...
Isn't there someone on here who owns a lot of shares in these type of companies?
7. geed said...
....at a guess....inbreda?
8. This comment has been removed as it was found to be in breach of our Blog Policies.
9. Hyrax said...
Inbreda probably shouldnt panic too much if hes in it for the long haul (note the ironic investment mantra),
as his return(!) is probably a product of reduced yield (of debt!!) times the number of insolvency lites.
So even if the eventual proportion of debt repayments are smaller, there are likely to be far more of them as they start queueing up.
A discounted derivatives debt market, learn something everyday! What a tangled web we weave when we finance to deceive!
10. harold said...
Inbreda, sorry if my headline has touched a nerve. My advice - IVA companies are really just further exploiting the weak and needy - sell the b*ggers and buy shares in bio-ethanol production. Just a thought.
11. dohousescrashinthewoods said...
Harold, I agree, I would steer clear of these guys on ethical grounds.
On a more [psycho]logical note, a tip from offender profiling: people tend to be consistent across different situations - if they are abusing their customers, why, ultimately, would they not abuse their shareholders?