F
Here’s an example of a widely held and traded company in NZ that had issues with the crash. Delisted from NZX. Not a good person either.
> At its peak about 150,000 New Zealanders were Brierley Investments shareholders.
> In the 1980s Brierley Investments was a feared corporate raider in Australia and Britain, but the firm stumbled after the 1987 sharemarket crash
I was a kid at the time but later I’ve talked to the older generation including a family friend who recounted how he came home and said to his wife, pack your bags we’ve lost the house.
Because the regulation was lacking people would mortgage their house to buy shares in the hopes that shares go up and they can repay the mortgage. It was all loans on top of dodgy loans and when it was unwound so many people were broke. This is why I support regulation.
