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by Boo_Randy
“Buy now, pay later” rackets were only possible in a world awash in Yellen Bux hot money flows. But now as f**ked borrowers are drowning in debt they’ll never be able to repay, the chickens are coming home to roost.
www.news.com.au/finance/business/other-industries/commonwealth-banks-investment-in-bnpl-provider-klarna-loses-billions-as-valuation-plummets/news-story/8c04f7ed487d7fa0bd946adb4cf092d8
One of Australia’s major banks put millions into a buy now, pay later operator but it’s since fired 10 per cent of staff and its valuation dropped by $30b.
See also Black Monday October 19, 1987, DOW Jones Loses 22.6% of its Value
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See also Hedge Fund D1 Borrowed Billions for a Hot Bet That Now Faces Reckoning.
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