http://blogs.reuters.com/felix-salmon/2009/12/21/reducing-the-shame-of-default/ A slice of lime in the soda Wed, 22 May 2013 01:01:25 +0000 hourly 1 http://wordpress.org/?v=3.4.2 http://blogs.reuters.com/felix-salmon/2009/12/21/reducing-the-shame-of-default/comment-page-1/#comment-10280 rogueecon Tue, 22 Dec 2009 02:59:24 +0000 http://blogs.reuters.com/felix-salmon/2009/12/21/reducing-the-shame-of-default/#comment-10280 It seems what we need to be doing is shaming bankers who misled people into borrowing so they find a way to renegotiate with them. We shouldn't be reducing shame of default from the borrowers. That only makes things worse. What would happen to the financial system once everyone no longer has shame of default? And not paying debts because banks didn't do their jobs properly could be just one step away from not paying taxes because the government isn't spending your tax money correctly. Is that next? It seems what we need to be doing is shaming bankers who misled people into borrowing so they find a way to renegotiate with them. We shouldn’t be reducing shame of default from the borrowers. That only makes things worse. What would happen to the financial system once everyone no longer has shame of default? And not paying debts because banks didn’t do their jobs properly could be just one step away from not paying taxes because the government isn’t spending your tax money correctly. Is that next?

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