Record number declared bankrupt

ZTD

MABLE wrote:

You can play the system and at the end of the long play period you can walk away from your responsibilities. It can never be right.

Banks - under contract law - are bankrupt. Their liabilities far exceed their assets. It's the banking laws that give them special dispensation.

That's why when you look at business statistics, Gearing (i.e. how much a business owes in comparison to its value) is not given for banks.

Bankruptcies are helpful to the banks as they give people the confidence to take on credit. No credit = no banks.

I'll not go into how the Gov gets its cut...