These banks are the root of what is wrong. I work for a company that is number 2 and we are on the verge of going bankrupted..by watching this I now understand.
It is very easy to sensationalise this story and find a scapegoat. Sure insurers are pulling the plug on bad risks, the alternative is to sit back, wait for the collapse and pay claims. The main issue being missed here is that many businesses like Woolies were mis-managed for years. They could survive in good times but would not withstand a recession. As for the US motor industry, problems have been endemic for years. The question with many of these businesses was not will they fail but when.
When there is a tide you can see who has been swimming naked. Credit insurers are the first to notice and point this out.
morgonsilen 2 years ago
These banks are the root of what is wrong. I work for a company that is number 2 and we are on the verge of going bankrupted..by watching this I now understand.
jenniferashley99 3 years ago
It is very easy to sensationalise this story and find a scapegoat. Sure insurers are pulling the plug on bad risks, the alternative is to sit back, wait for the collapse and pay claims. The main issue being missed here is that many businesses like Woolies were mis-managed for years. They could survive in good times but would not withstand a recession. As for the US motor industry, problems have been endemic for years. The question with many of these businesses was not will they fail but when.
cd27cd27cd27 2 years ago