search query: @author Sender, H. / total: 16
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| Author: | Sender, H. |
| Title: | The devil to pay |
| Journal: | Far Eastern Economic Review
1997 : JUN 5, VOL. 160:23, p. 50-53 |
| Index terms: | ECONOMICS ASIA BANKING |
| Language: | eng |
| Abstract: | From Thailand to Seoul to Jakarta, banks are reaping the consequences of lending decisions governed by non-commercial criteria. Working their way out of the mess will require both time and market discipline. No one is ailing more than the banks who financed the bubble that is now bursting. Thai banks, like most in Asia, are vulnerable because they lend against collateral, not cash flow, and that collateral is almost always the most speculative asset of all, real estate. Many banks in Asia are just large-scale pawnshop operations. |
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