Collateral damage of reckless lending
Granting unproductive loans results in a systematic transfer of wealth from the many to the few
By Savvakis C Savvides
The word collateral is defined in the Merriam-Webster dictionary as “ property [..] pledged by a borrower to protect the interests of the lender ”.
The essence of collateral in lending is that it is to be used as a recourse for...
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