Monday, Dec 15, 2008
2009 is pay back year
Financial nightmare: BBC
$1000bn of "old world" companies' borrowings in the form of tradeable debt has to be paid back during the next 12 months.
That would be a colossal sum to pay off at the best of times, and is equal to about five times what's been repaid in 2008.
Posted by gardeniadotnet @ 07:42 AM (688 views) Add Comment
4 Comments
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1. mountain goat said...
Oh no it is going to be one company begging for help after another, I'm sick of it already!
"But many will urge that companies which borrowed recklessly in the good years - often to generate unsustainable growth in profits that triggered bonus payments or to finance excessive special dividends - should not be bailed out.
Though in punishing imprudence we would be foolish to punish ourselves.
The trick for government, therefore, would be to rescue fundamentally viable businesses, while somehow leaving feckless management to swing in the wind."
2. 51ck-6-51x said...
The BoE are looking for analysts
3. gardeniadotnet said...
2. 51ck-6-51x said... The BoE are looking for analysts
Two CVs received so far; from a Mr. Madoff and a Mr. Ross, but many more expected.
4. stillthinking said...
Misleading because it implies that companies that go bust because of excessive debt magically disappear. When normally they get sold. The UK would benefit from a chapter 11 style scheme, to allow a smooth transistion from bad owners(in charge of a dead company) of manufacturing assets to new owners (willing to try and do things better).