This is an interesting entry on the Adam Smith Institute Blog regarding the rise in bad debts.
HSBC personal Finance services division reported a 36% increase in bad debts which has taken the shine off record profits. 36%?! Wow. If bad debts continue to rise like that the terms on which money is borrowed will change drastically. As the blog concludes 'I try to avoid paying for boy racers when I take out auto insurance, and I think I'd rather like to avoid paying for bad debtors when I do my banking.'
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