4 ms·
> How do you know you have over 100m in assets? If your bank determines that assets you post for collateral are worth 100mn or more, that's a pretty good indic
by sealeck 2y ago
> How do you know you have over 100m in assets?
If your bank determines that assets you post for collateral are worth 100mn or more, that's a pretty good indication.
- rv3909i 2y agoSo if I don't apply for a loan, I don't get assessed, which means I don't pay taxes? Anyway, the system is not that simple and bank assessment would be trivial to game. People do it now even without taxes on the line...
- sealeck 2y agoIt's one of many things that can give you some idea what an asset is worth.
- sbsudbdjd 2y agoThat's an estimate to enable business to go on based what the bank is willing to risk. For the proposal to work you would need an estimate good to within less a percent. Or lawsuits galore.
- llm_trw 2y agoAh yes banks. The people responsible for the 2008 crash.