posted by dennisn on March 18th, 2008 at 10:39PM
I guess my problem was on where the responsibility lies -- whether or not the transaction is accepted is wholly voluntary, and entirely the responsability of the poor person. He is aware of the terms, and is not forced to accept it if he feels it is stupid. Just because a stupid proposal is offered, doesn't mean it has to be accepted. But I'm sure at least a few people might find it appealing -- ie. those with clever income-generating ideas.
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posted by rick on March 18th, 2008 at 11:32PM
http://en.wikipedia.org/w..._mortgage_crisis Subprime mortgage crisis
Or for a simpler example, take someone who lives from credit card to credit card. Or someone who is desperate to get money any way they can. Someone who doesn't really care about the responsibility of the debt in the future.
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