Thursday 4 December 2008

Debt for Equity Swap Rescues New Star...

From the Citywire news feed today:

"New Star's creditors have taken control of 75% of the business in a debt for equity swap aimed at securing the future of the business..." (From an
article written by Charlie Parker).

Well, Well. What a clever idea. Shame no-one in Government seems to have heard of it. Might have saved us all a shed load of cash in buying up / bailing out the Banks.

1 comment:

Anonymous said...

"Shame no-one in Government seems to have heard of it."

I expect they have, it's just that this would be a *CAPITALIST* solution to the problems, whereas the current government are entirely fascist, sorry Socialist.