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)
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One thought on “Bookmakers know the score

  • 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.

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