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Everything you've described sounds like an awesome idea to me. It leads to quick price discovery. It's economically efficient.
by NoMoreNicksLeft 12y ago
Everything you've described sounds like an awesome idea to me. It leads to quick price discovery. It's economically efficient.
- Terr_ 12y agoNo, prices would NOT be discovered quickly, because the bank cannot proceed without getting a response from the debtor... or waiting long enough that they can legally treat it as rejected. That probably means at least two or three snail-mail notifications and a month of waiting time... Defaulting debtors correlate heavily with people who cannot be contacted or will not respond.