What bankruptcy laws are for

Instead of a bailout, says this economist who also offers a good overview of what got us into this mess, we simply need to make use of our bankruptcy laws.

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  • http://necessaryroughness.org Dan at Necessary Roughness

    Jeff Miron is a good guy to read, and he makes a lot of sense here. I as a taxpayer should not be responsible for mortgage lenders who make mortgages whose payments don’t even cover interest plus principal.