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You think that debt wasn't leveraged? You think people can just not pay back loans and no one gets hurt?
by endtime 16y ago
You think that debt wasn't leveraged? You think people can just not pay back loans and no one gets hurt?
- cabalamat 16y agoThe way the US economic/legal system works is that banks can just not pay their debts and the banks' owners don't get hurt. If debts owed by banks aren't legally enforceable, debts owed to banks shouldn't be either. To put it another way, limited liability, if it exists, should go both ways.
- mdp 16y agoYeah it's easy, just convince everyone you're too big to fail and have the American taxpayer pay it off.
- deleted 16y ago[deleted]