Mate 100% agree with you... Thank god there's someone else with some financial acumen on here who doesn't think this is a payment business and the loans are funded by some terrestrial deity. I honestly think people don't understand the fundamental constraints of finance businesses... that debt sits on your balance sheet, and one has to have corresponding equity ( granted to a much lesser % to balance it). Also to your point, the administration of the debt and the minimization of losses, particularly through an economic transition period.
The only guys who will be laughing all the way to the bank here will be the early round guys who dump to Instos as soon as they can.
AFY Price at posting:
$2.78 Sentiment: None Disclosure: Not Held
