How to Resolve Bad Debts
Monday, October 9, 2000
The government has shown unabashed ability in taking legal action against a number of business tycoons while at the same time giving its full commitment to bailing out other conglomerates. Gijzeling, or apprehending an individual for a company’s debts, is long overdue. Bailouts on the other hand, are something we can do without.
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The government’s ability to resolve the bad debt issue has again been put in the spotlight. It has given support to a number of conglomerates while leaving others to face the full force of the law. Which isn’t to say it’s wrong, because it’s exactly what’s needed with these tycoons. It’s just surprising it took so long and, more importantly, why all the big debtors aren’t receiving the same treatment.
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