On Saturday, 28 March 2020 03:41:04 UTC, Rod Speed wrote:
"nightjar" wrote in message
...
On 27/03/2020 15:12, Jim GM4DHJ ... wrote:

https://www.kentonline.co.uk/kent-bu...ration-224671/
how can a company that has been ripping scumbags off for years be going
bust ? ....

Selling on credit to people with a poor credit rating is not a good
business model.

It can be, most obviously with credit cards.
You just have to ensure that you charge
them more than the default rate.

precisely. Amazing how many people don't get that


It is the same thing that caused to banking crisis.

Wrong. What caused that was the bundling and securetizing
of those mortgages and them getting AAA ratings that they
didnt even come close to qualifying for.

yup, and buyers believing them. Rod does get it right on the odd occasion. If only we could distill him so he shuts up the rest of the time.


NT