Wednesday April 1, 2020

Cliff Taylor: Writing down debt seems a better way to go

How do you deal with the 'can't pays' without encouraging the 'won't pays'? This is the crux of the issue facing the banking sector, writes Cliff Taylor.

8th June, 2013
People need to know the rules, and how this is going to work.

Banks have incentives to cut deals

How do you deal with the 'can't pays' without encouraging the 'won't pays'? This is the crux of the issue facing the banking sector as it dives into dealing with the problem of mortgage arrears. Everyone agrees that there is a significant minority of borrowers who will never be able to pay off all they owe. But the fear has been that dealing with this explicitly and openly would...

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