beware of the dog

Dear Prime Minister,

 
There is growing alarm within the UK SME community at the Chancellors tacit approval of the actions of Cerberus. We can totally understand your Chancellors motivation in wanting UK banks to strengthen their Balance Sheets, by offloading long term mortgage debt for cash. Regrettably though there is “the law of unintended consequences” and as the attached article illustrates, bankers being bankers, this creates an incentive for Banks to put clients into default, in order to extract a higher price for the debt from Cerberus. Cerberus, on the other hand, are purchasing this debt with borrowed money, and they are highly motivated to “rape and pillage” in order to turn the purchased debt into cash, by any means they choose.
 
To read the original letter, please use the button below (It will open up the pdf document in a new window)
 
download
 
 
 
e-max.it: your social media marketing partner

Leave your comments

Post comment as a guest

0
Your comments are subjected to administrator's moderation.
terms and condition.
  • No comments found

Stay Connected

Global Advisory Group are specialists in Business Turnaround
2nd Floor, Victoria House, Victoria Road
Hale
Cheshire
WA15 9AF
United Kingdom
+44 (0)161-928-3403
 

Newsletter

Please subscribe to our news letter.