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Indiana Cattle Broker bouncing checks
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Drywood
Posted 11/9/2010 08:36 (#1428322 - in reply to #1428123)
Subject: RE: WSJ source, $100mill unpaid bills, $94 million of that bounced checks so far


SWMO
I don't doubt the 1 in 15 number at all. They are big. And you are right. We are a trusting bunch. All a contract does is set the rules for how two honest people are going to make a deal at a later date. Anyone wanting to be dis-honest will be, contract or not. Yeah, it might be a little harder to do, but where there is a will there is a way. On the Eastern thing, I highly doubt if Tommy Gibson woke up one morning and decided to scam people. Most of these types of disasters start with somone trying to be bigger than they are capable of. Things snowball and before you know it, the guy that thought he could dig his way out of a little shortfall has just dug a hole big enough to swallow a lot of honest operations and friends. I wish there was a way to prevent something like this, but short of a rediculous amount of gov't control, I don't know what it would be. Let's just hope that today doesn't bring another huge jump in the unpaid number.
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