Re:Why Thomas Cook Collapsed
by shkkmo on Saturday September 28, 2019 @07:51PM
(#21103910)
> The fact the consumer didn’t do any due diligence doesn’t change the situation.
It is the reasonable expectations that differ. Customers are not expected to ask for (and will not be granted) financial information or proof of collateral. It is completely unreasonable to give those customers the same level of risk as creditors who are expected to ask for (and receive) such information.
> It is fraud if the company racks up large numbers of unusual expenses just before bankruptcy is declared.
So when a company does not currently have the financial ability to fulfill a purchase (say without obtaining a government bailout), how is it not fraud to sell a product and collect money without informing the customer of that risk?
> As for dine and dash there is a difference when there is no intent to pay.
I'd like to see you try telling your waiter "I'm a bit tight on money right now, you'll have to wait for next month for me to pay my bill." Let's see if they call the cops and you get arrested. Your argument is rather ridiculous.
It is the reasonable expectations that differ. Customers are not expected to ask for (and will not be granted) financial information or proof of collateral. It is completely unreasonable to give those customers the same level of risk as creditors who are expected to ask for (and receive) such information.
> It is fraud if the company racks up large numbers of unusual expenses just before bankruptcy is declared.
So when a company does not currently have the financial ability to fulfill a purchase (say without obtaining a government bailout), how is it not fraud to sell a product and collect money without informing the customer of that risk?
> As for dine and dash there is a difference when there is no intent to pay.
I'd like to see you try telling your waiter "I'm a bit tight on money right now, you'll have to wait for next month for me to pay my bill." Let's see if they call the cops and you get arrested. Your argument is rather ridiculous.