Financial crisis ahoy....
As John Plender (FT) concludes:
'the IMF has argued that the rapid growth of private credit, coupled with increasing competition from banks on large deals & pressure to deploy capital, may lead to a deterioration in pricing & non-pricing terms, including lower underwriting standards & weakened covenants, raising the risk of credit losses in the future. No prizes for guessing where the next financial crisis will emerge from'.
Just so you know....
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h4890
In response to this post@ChrisMayLA6 Banks are satan! They want to take no risk, they offer no help to business owners, and they live in a happy oligopoly supported fully by the government.
And despite that, they dare to complain when the government wants to tax them?
For the love of god... if I had the full protection of the government and a oligopoly handed to me, why would I complain about a tax hike of a few percent here or there?
Banks truly are the enemy of business and common man alike.
@h4890
We right in that shaded area of the Venn - absolute parasites.... there may have been good reasons for banks at the start of merchant capitalism, but now they are mostly as you say an oligopoly supported (facilitated) by the Govt. making 'super profits' while leaching off society - I'd likely include all of financial services by the same token
by Emeritus Prof Christopher May ;
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