Finally, an Explanation of Finance Corporatism!
In order to increase sales, he asks the advice of a visitor from Boston, Barney King.
He convinces Bill to allow his loyal customers - most of whom are unemployed alcoholics - to drink now, but pay later.
Bill keeps track of the drinks consumed on a ledger (thereby granting the customers loans).
Word gets around and as a result increasing numbers of customers flood into Bill's bar.
Taking advantage of his customers' freedom from immediate payment constraints, Bill increases his prices for wine and beer, the most-consumed beverages. His sales volume increases massively.
A young and dynamic customer service consultant at the local bank recognizes these customer debts as valuable future assets and increases Bill's borrowing limit.
He sees no reason for undue concern since he has the debts of the alcoholics as collateral.
At the bank's corporate headquarters, expert bankers transform these customer assets into DRINKBONDS, ALKBONDS and GAGBONDS. These securities are then traded on markets worldwide.
No one really understands what these abbreviations mean and how the securities are guaranteed. Nevertheless, as their prices continuously climb, the securities become top-selling items.
One day, although the prices are still climbing, a risk manager (subsequently, of course, fired due to his negativity) of the bank decides that the time has come to demand payment of the debts incurred by the drinkers at Bill's bar.
However they cannot pay back the debts.
Bill cannot fulfill his loan obligations and claims bankruptcy.
DRINKBOND and ALKBOND drop in price by 95 %. GAGBOND performs better, stabilizing in price after dropping by 80 %.
The suppliers of Bill's bar, having granted him generous payment due dates and having invested in the securities are faced with a new situation.
His wine supplier claims bankruptcy, his beer supplier is taken over by a competitor. The bank is saved by the Government following dramatic round-the-clock consultations by leaders from the governing political
parties (and vested interests). The funds required for this purpose are obtained by a tax levied on the non-drinkers.
Barney King denies ever having been in Asheville.
Finally an explanation I trust you can explain to others..