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Strategies & Market Trends : Asia Forum
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To: RealMuLan who wrote (640)1/9/1998 12:45:00 PM
From: Esvida  Read Replies (1) of 9980
 
"Care must be taken, however, not to bail out failed debtors. Resources
are limited and governments should adopt a
three-pronged approach -- asking the walking wounded to take care of
themselves, letting the terminally ill go, and
assisting those capable of surviving. That will not be easy, since many
of the most-indebted companies got that way while
exploiting official ties or corrupt practices to expand. They must not
be allowed to use the same means to gain a new
lease on life. Letting the failures go under pays the additional bonus
of conserving precious foreign exchange. After all,
the bankrupt by definition do not repay all their loans."

The above paragraph summaries the difficulty in setting up a triage for businesses there. Who could trust the governments there to pick the ones worth saving to save?

-Al
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