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Well, to add a bit more context to it, the administration dismissed the issue, saying that people should just work with grocery stores and banks in order to sur

Well, to add a bit more context to it, the administration dismissed the issue, saying that people should just work with grocery stores and banks in order to survive. Full text: > Local people know who they are when they go for groceries and everything else. So I think what Wilbur was probably trying to say was that they will work along — I know banks are working along. If you have mortgages, the mortgagees, the folks collecting the interest and all of those things, they work along. And that's what happens in a time like this, they know the people, they've been dealing with them for years, and they work along. The grocery stores...and I think that's probably what Wilbur Ross meant.

zentiggr 8y ago
So... mortgage holders are just going to say "oh, you're on furlough... ok, we'll hold your payment schedule and just rewrite the terms once you have pay again." WTF is the disconnect here? Defaults are going to spike and I can't imagine that any significant percentage of them would be forgiven. And I haven't seen a grocery store run 'personal credit' since maybe before the 50s at best? Pre-Depression? Somebody is breathing that Washington nitrous oxide again.
- cr1895 8y ago
  >And I haven't seen a grocery store run 'personal credit' since maybe before the 50s at best? Pre-Depression? The ridiculous out-of-touch callousness of it all aside, I remember my parents having credit at a small neighborhood grocery in the 90s-00s. It's not necessarily a relic of the 50s.