Blog2010ray2: Forgiving debt may be the answer to this mess

Thursday, August 18, 2011

Forgiving debt may be the answer to this mess

Forgiving debt may be the answer to this mess

1 comment:

RAYLOKEAugust 18, 2011 at 1:33 AM
Society has come a long way since, but not far enough. There is still a presumption that blood can be squeezed from a stone. That’s true in the U.S. housing market, where banks continue to insist that they will be able to collect full repayment of wacky mortgage loans that they never should have made in the first place. And it’s true in Europe, where creditor nations and banks are dragging their heels on writing down the sovereign debt of Greece, Ireland, and Portugal.
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