Talking Point: When a good idea goes bad
Many SMEs have been criticised for property investments that have left them burdened by debt. But at the time, such outlays made sense, writes Tom O’Brien
Among the more unfortunate declarations by an Irish politician in recent years was the claim by the late Brian Lenihan that “we all partied”.
This comment gave the somewhat unfair impression that the debt burden, which threatened to overwhelm many Irish SMEs and private individuals, was a product of their own irresponsible behaviour.
While it was the case that many were involved in ill-advised property speculation and allowed their spending to get out of control,...
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