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The downside in your scenario is limited by regulation! It's hilarious that limited liability is an obvious assumption for how the world should work and then t
by maxerickson 3y ago
The downside in your scenario is limited by regulation!
It's hilarious that limited liability is an obvious assumption for how the world should work and then telling companies that they don't get to offer high interest unsecured loans that also have punitive fees is some kind of perilous overreach.
- _heimdall 3y ago> It's hilarious that limited liability is an obvious assumption I must have gotten myself lost if my comments read as though I was arguing that limited liability is a good thing. I guess if you consider limiting investor liability to criminal activity they were aware of, that's some form of limited liability. But I don't agree that liability should be limited even when someone is, or can be, aware if the risks they sign up for. I'm not saying anyone should tell companies they can't offer high interest unsecured loans - I'm only saying that consumers don't have to take the loans.