We have the inclination to default on loans because it is not a criminal offense. If it was illegal may be many like me will not be wishing we were not debt-beats. We will only borrow what we can afford to pay knowing there is a severe punishment when we don't. Can anyone default on a loan obtained from a loan shark? No! We only go to them when we have 100% assurance we can pay back. Wish the authorities will make it illegal to default on loans. May be we will have less debt-beats around.
by Susan Reid 7 years ago
From that bastion of lamestream liberalism, TIME. Mr. Klein puts it so darned well I couldn't resist posting the whole article. It's not very long. Enjoy!Oh, and as we all know, there WAS no vote today (Thursday). ViewpointRepublicans’ Debt Ceiling Charade Is Downright DangerousBy Joe Klein...
by mio cid 7 years ago
The republican position is that under no circumstance will they allow any tax raise as part of the negotiations to raise the debt ceiling.They also want spending cuts, right now,significant in quantity,and across the board except on defense , when asked if the only way an agreement could be reached...
by sannyasinman 8 years ago
Apparently, all of the billions of Euros just transferred to Greece to ease its "crisis" will go directly to the banksters to cover outstanding interest payments, and will do nothing whatsoever for the country or its people. The situation is clearly unsustainable, and there are other...
by Dave McClure 6 years ago
Greek Prime Minister George Papandreou has decided that the Greek people should be asked whether or not to accept the rescue package negotiated by the Eurozone leaders. The 'rescue' package, of course, came with strings attached: further austerity measures for a people already suffering. And...
by Angelo 15 months ago
I am on a debt-free journey and student loans make up the bulk of my borrowings, therefore, I am interested in creating an open community-based forum that discusses ways of coming up out of debt. Inspire someone to tackle the burden by sharing your debt-free success story. Query ideas for...
by Gary Anderson 9 years ago
The consumer is the catalyst of our economy. The consumer is tapped out by bad loans, too much credit, by a greedy banking system that wanted profits before responsibility. Option arm loans, credit card loans, and other debt will put a dangerous strain upon the economy through 2011 at least. Even...
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