Ignore the myth, capital market reform has its good side, too
Yes, it enabled the Dankners and others to run up huge debt, but it also helped finance economic growth.
Last week was a tough one for Israel’s tycoons. A petition was filed against Yossi Maiman to declare him bankrupt; Motti Zisser was faced with a suit by Bank Hapoalim seeking to appoint a receiver over what remains of his assets; and Nochi Dankner continues his delaying tactics against his inevitable fate. Over the past three years we’ve become accustomed to the idea that the tycoons will impose haircuts, disown...
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