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Bounce back loans
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<blockquote data-quote="TheTallGuy" data-source="post: 7869783" data-attributes="member: 9121"><p>I think that some of the banks could well be in for a shock when defaults start building up, according to a friend at the treasury they're likely to fall foul of not having done their part on "due diligence" before releasing funds - particularly on loans after the initial rush. Apparently if the treasury decide that insufficient checks were done then the government guarantees don't stand & the banks have to pick up the tab...</p></blockquote><p></p>
[QUOTE="TheTallGuy, post: 7869783, member: 9121"] I think that some of the banks could well be in for a shock when defaults start building up, according to a friend at the treasury they're likely to fall foul of not having done their part on "due diligence" before releasing funds - particularly on loans after the initial rush. Apparently if the treasury decide that insufficient checks were done then the government guarantees don't stand & the banks have to pick up the tab... [/QUOTE]
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