It's a Bad Time to Be Well-Behaved [Edition 2]
Evening Standard - London › October 28, 2009
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Summary
THIS column has commented frequently about the reluctance of banks to pull the plug on defaulting borrowers. Rather than be forced to acknowledge the loss of a loan, they will add unpaid interest to the capital sum outstanding, extend the term of the loan, give an interest rate holiday and if all else fails will participate in a debt-for-equity swap. It is a far cry from previous recessions and there has never been a better time to be an irresponsible borrower.
But the converse is that there has never been a worse time to be wellbehaved.See the full content of this document
Extract
It's a Bad Time to Be Well-Behaved [Edition 2]
Perhaps because they are losing so much money with th...
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