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ALL THE MAJOR BANKS IN THE USA HAD TO BE BAILED IN THE LAST GFC...

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oddle

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22/07/22

09:45

Post #: 62669028
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Originally posted by oddle: ↑

I was thinking of putting in some cash but I remembered we are going into a nightmare period and I ask myself What happens when the stimulus money dries up soon. And if god forbid bnpl companies can't pay the debt if one of these kids on credit can't pay back what will happen to all the other 18-20year olds that are probably borrowing off the last people allowing them to buy now pay later. The parents could start major lawsuits or when the interest rates rise and people are struggling for years. could BNPL afford years of 24 years old not able to repay the debt? And what could the company do if said fine we have to take bad credit on our names. Last GFC THE GOVERNMENT HAD TO BAIL OUT NEAR ALL THE MAJOR BANKS but in Australia I don't know if they would bail out to many companies. I can see a GFC coming here so bad that people don't realise million people will lose there houses possibly. people will be clawing each other to get ant credit imo I dont think more then half at best would be able to pay anything back when the shite hit's the fun.
DYOR

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ALL THE MAJOR BANKS IN THE USA HAD TO BE BAILED IN THE LAST GFC (not Australian banks I mean American)

ZIP Price at posting: 77.5¢ Sentiment: Sell Disclosure: Not Held
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