PCS Financial has declared bankruptcy, after a probable well-placed lien was put on their assets. This company was involved in commercial lending. Hopefully their lending practices were mostly sane rather than funding some enterprise that could only exist in a world where we had rabid clownsumers spending virtually free money that was lent out widely without risk assessment due to negative traditional rates of return in the credit bubble environment.
PCS Financial being a commercial lender deserves a little expansion in thought. Imagine that they had enterprises borrowing from them and imagine those enterprises can not find their funding soruces elsewhere. These will cause a mini chain reaction in shop closures or halted new development projects. Which in turn affect a little bit wider of a view than PCS's 60 employees spending habits.
PCS Financial is based in Chicago, IL.
Related:
What's Old is New Again: Credit Lenders Getting Risk Priced to Actual Market
Bankrupt: Coming Soon to Someone You Know
Put Your Hammer to Rest: USG Corp Bangs Out Layoffs
Max Pain: OfficeMax to do Its Own Layoff
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment