Spain in our future?

[techs]

http://www.nytimes.com/2010/10/28/world/europe/28spain.html?_r=1&hp

Cliffs:
In Spain they don't let you discharge your mortgage debt in bankruptcy court.
Millions of people now owe so much money they are effectively working for the banks for the rest of their lives.


Are you listening Republicans? You need to get this idea implemented in the US as soon as possible.
Personal Responsibilty Act of 2113 sounds right.

 

[Fear No Evil]

2113? Will Obama still be President then?

 

[IndyColtsFan]

Haven't you trolled enough today, techs?

 

[Nemesis 1]

BUT BUT that makes to much sense. It would also stabilize things. So it will not happen . Ya just don't understand who is running the show. There is no room on the ark for you. As you don't have $$$ for the ticket. Truth is you don't want to be on those arks. Were is all the money going. That the question you should be asking . Up to this point its gone easy on ya . Deligence is required to be on winning team. Ark ticket holders have nothing but paper money and the hand of the Lord moves against them .

 

[polarmystery]

I have many relatives in Spain. This is not good news

 

[halik]

Oh yes, that set up worked great for college loans. Lets end up with millions of people with 6 figure debt from a English BA at the University of Phoenix, because CapitalOne will give you 100K to get a degree that pays 30K/year.

This is literally the EXACT OPPOSITE of what needs to happen:
Lenders not assessing credit risk is a huge factor why the housing bubble happened in the first place. You absolutely need to have credit risk in the equation to force the lenders to actually asses the creditworthiness of the borrow, otherwise they'll be cutting checks left and right ... till the system blows up again.

For a self-proclaimed free market guy, you seem eager to meddle with the debt markets...

 

[Nemesis 1]

No it doesn't work like that in this case . If ya work and you have to . The money will come right out of your wages.

 

[BoberFett]

Whoops, when I first read the thread title I thought it said "Spam in our future?"

http://forums.anandtech.com/showthread.php?t=2115962
http://forums.anandtech.com/showthread.php?t=2115971
http://forums.anandtech.com/showthread.php?t=2115955
http://forums.anandtech.com/showthread.php?t=2115992
http://forums.anandtech.com/showthread.php?t=2115988

 

[theeedude]

Probably Ireland in our future, where premature austerity derailed recovery.

 

[IceBergSLiM]

pro debt slave? lol. thats a first


ur throat sore from sucking the bankers dicks yet?

 

[CanOWorms]

I'm sure that the Spanish King is thinking of them as he buys a new jewel for the crown.

 

[techs]

I'm sure that the Spanish King is thinking of them as he buys a new jewel for the crown.

I tend to think this is one of the leftovers from the fascist regime.

 

[CanOWorms]

I tend to think this is one of the leftovers from the fascist regime.

Perhaps, but typically a lot of property law in Europe tends to be developed from feudal concepts in the age of Monarchy. The US started from that but split away centuries ago from the feudal/caste-based path.