Here's a look at the issues involved from the good folks at nakedcapitalism.com (with numerous links). With bankruptcies on the rise, and with so many people walking away from their homes, "Is Debt Repudiation a Good Thing or a Bad Thing?" is a good place to start. Especially for those either looking for a better understanding of what we're facing, or for those looking down the barrel of bankruptcy and foreclosure.
I'll have more to say about this in a future post.
- Mark
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