5 ms·

Consumer protections are likely to be 3 months out from the point of impact. As the saying goes, we're all 3 hot meals from the end of society.

• Spivak 4y ago
  If we're in a hypothetical world where a major bank lost say millions of bank accounts and for some reason it was going to take months to correct it would hit the news, there would be emergency legislation blocking eviction, utility shutoff, and debt collection, and interest accrual as well as all the lost bank accounts being credited with a some amount as combination fine/stimulus. The fear is when it's just you.
  • notch656c 4y ago
    Landlords tolerate eviction moratorium with covid because only a fraction of their tenants stopped paying. I think a scenario where just a few million or whatever were effected you are correct. However if it was almost everyone, landlording would become a straight up mob. You'd have to employ violence and bypass the state to maintain the properties and enterprise. No one would rent out property the legal way if they couldn't collect the rents.
    • foogazi 4y ago
      > However if it was almost everyone By the time it got to this another disaster already happened