Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (24738)	3/2/2005 2:30:58 PM
From: peppe51	Read Replies (1) of 116555

Well said Mish, bankruptcies and delinquent accounts are part of the price of doing business in the financial arena. If these companies don't want to lose money, then let them screen their customers more thoroughly. Otherwise even a chimp could be making loans! I worked as a loan officer and believe me, credit quality goes out the window when these companies want to boost their balance sheets and/or stock price. When disaster strikes (as it always does after one of these binges) they refuse to lend to even the best customers. Sure some people abuse the system but the law keeps the lending institutions honest (most of the time).

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