Why you need a haircut – even if you’re bald

Wednesday, 28 June 2023 00:40 - - {{hitsCtrl.values.hits}}

You have borrowed (at high interest costs) to excessively spend on initiatives – that give low or no returns. Most of them have low or no salvage value.
Your institutional lenders are under the illusion (at least in their books) that you will pay them back. Hence, they are ‘accounted’ for as assets.
Of course, as an institutional lender, almost 90% of what you so generously lend, is that of small-time deposit holders.
Now that you can no longer ‘bank’ on dud assets, you have to confront reality – who will carry the can?
Damned if you do and damned if you don’t.

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