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Banks - when will they ever learn? Still lending to some unsecured indebted borrowers

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  • 30-05-2013 12:39pm
    #1
    wil
    Registered Users Posts: 4,188 ✭✭✭


    http://ec.europa.eu/europe2020/pdf/nd/swd2013_ireland_en.pdf
    Long-term mortgage arrears have continued to increase recently, and there are signs that some dysfunctional features of the institutional mortgage landscape may be affecting payment discipline and fostering strategic defaults. A durable treatment of non-performing loans still needs to be achieved, and there are signs that some lenders continue to provide unsecured credit to highly indebted borrowers without adequately checking their creditworthiness.

    The EC commission has just released their update on national reform etc and this point above was just highlighted on PK this morning.

    In view of the micromarket happening in property market in parts of Dublin at the mo, are the same WhoYouKnows still cronying up unsecured loans and starting up the whole debacle all over again?

    And yet the average viable business struggles to get funding

    Strategic defaults, highly indebted borrowers, without checking creditworthiness.

    Is the interval between repeating same mistakes decreasing?

    When will we ever learn dem?:eek:
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