My impression is that competition pushes fragility in good times. If two firms are basically the same but one takes out bigger loans and levers up their investments more they will have more cash to play with to try to take some market share from their competitors.
My impression is that competition pushes fragility in good times. If two firms are basically the same but one takes out bigger loans and levers up their investments more they will have more cash to play with to try to take some market share from their competitors.