Beg, steel, and borrow

Thursday 11th March 2021

Lex Greensill’s finance company had strong backing and a business model providing services that were in high demand, providing cash flow for companies by paying for invoices as they were issued. But this week, somehow, it all came crashing down and many companies around the world are caught up in the fallout. That includes Liberty Steel, the firm that bailed out the British steel industry as Tata were set to walk away from the country. Today economist Steve Keen talks through the Greensill business model and what the government should be doing about steel supplies.

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