@1
In the real world, people should be allowed to go bankrupt and not have to pay full value.
You advocate a system completely on the side of the lender, no rights for the borrower. Fine, but then interest rates should be abolished. Because under such a system you have eliminated all risk. Interest rates to a large extent are determined by credit worthiness, and the risk of loss of principal.
If those who go bankrupt must pay in full regardless of circumstance, then why are the still interest rates?
Crony capitalist mentality at work here.
↧
