Re:Live on credit for 40 years (Score:2)
by mercedo (822671) * on 2008.10.01 21:42 (#25216977) Homepage Journal
In 1297 etc., there were a couple of cancellations of debt. Warrior class had barrowed a lot of money from rich merchants. Their loan was banished. Non performing debts are rescued by government. The collapse of securities company is never rescued. Subprime loan never disappears for forty years. Ah! I'm not well versed in economy. General rule never found.
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