My wife has also been seeing an increase in strategic defaults. These are cases where the company could easily make its loan payments, could in fact pay off the loan entirely with the cash it has in the bank - but chooses not to. The court systems are overloaded and oftentimes closed right now, the lawyers all have to work over Zoom, so what's the lender gonna do? The company views it as more important to hold cash in the bank right now than to service existing loan obligations that its creditors can't enforce anyway.
The entrepreneur in me is saying that the biggest start-up opportunity in America right now is a government. We're on the verge of a cascading failure in the legal and political system, and few people realize how much of civilization rests on having a functioning legal system.
The entrepreneur in me is saying that the biggest start-up opportunity in America right now is a government. We're on the verge of a cascading failure in the legal and political system, and few people realize how much of civilization rests on having a functioning legal system.