Homeowners alone

posted by
October 9, 2011
The American Prospect    
Posted in PND Commentary

"If you couldn't pay your debts in the 19th century, you went to jail. Debtors' prison seemed an appropriate punishment for what was then considered moral laxity. The problem was that when debtors were locked up, they couldn't work off their debts or be productive citizens. That's why bankruptcy was invented. We seem to have forgotten this history when it comes to the biggest debt burden still hobbling most Americans -- their home mortgages." (10/07/11)


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