Thursday, February 19, 2009
Bookmakers know the score
How Ladbrokes declined to gamble on debt
Even Ladbrokes, the bookmakers, knew that borrowing more than 3.75 x their earnings would be mad yet bankers were beseiging their finance director saying ‘Gear up, gear up'. We were told if we didn't gear up we would be taken over by private equity. It was absolutely bonkers.” .
Posted by enuii @ 10:44 PM (762 views)
One thought on “Bookmakers know the score”
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paul says:
It says it all really doesn’t it?
The bankers have been like chavs trying to outrace F1 drivers in the gambling business. No wonder they’ve ended up wrapped round lamposts waiting for the all-too-generous government ambulance to arrive.