News: Dale Shearer ordered to pay Adrian Lam $1.5 million over unpaid loan

And some people complain about the Banks

 

Move over Ralph Norris. 

Adrian Lam will be the next Managing Director of the Commonwealth bank.  50% interest rates would be good for shareholders returns as well as the Managing Directors yearly bonus. 

 

Never borrow from family or mates.  Shearer must be just plain stupid to borrow at that rate. 

 

Too bad for Shearer that Lam's photos (and videos) are already public.

 

More a matter of desperation than it is stupidity.
He was obviously unable to secure a loan through normal channels (for reasons best known to himself) so not even a lolr would touch him.

 

Just plain sad, on all fronts. Add to this the death of his wife, the car crash and it would be enough to send the poor bastard over the edge, I hope that doesn't happen.

 

This looks like a job for the "Men of League" foundation.

 

Charity shouldn't have to bail out stupidity. 

 

To take out a loan of that size, and with that interest rate is ridiculous on any level.  It's a case of two fools met.  Rowdy for thinking he would pay it back, and Lam for loaning it in the first place.