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Debt: And You Think You'Ve Got It Bad?


Business  (tags: debt, consumers, world, news, money, economy, americans )

Cal
- 112 days ago - articles.moneycentral.msn.com
Bankruptcy may seem like strong medicine, but debtors in the US have it relatively easy. Public humiliation, years of re-education, even jail await deadbeats abroad.
Comments

Barbara Liebowitz (949)
Friday November 20, 2009, 8:39 pm
noted thank you
 

Bee Hive Lady (440)
Saturday November 21, 2009, 8:14 am
Captialism will fall from its own weight, taking many innocent citizens with it.
 

Maria W. (13)
Saturday November 21, 2009, 8:51 am
Noted. Thank you.
 

Alicia V. (66)
Saturday November 21, 2009, 1:21 pm
There are some people that buy more than they earn and they just consume, but there are others and we know it that always get the treatment, what they have now is going to their parents or relatives' homes to live with or if they are unlucky get a cardboard and live in streets. Happens at least in my country. Banks owe the so called world, that world, the world of evil, hunger, bombs, pollution and they have the law, their unfinished law that most of the times ends putting in jail many innocent and of course they have all kinds of weapons, so, seems like that kind of order doesn't cease creating a neverending chaos.
 

Mandi T. (296)
Saturday November 21, 2009, 5:35 pm
Tx Cal
 

Pamela M. (50)
Saturday November 21, 2009, 6:13 pm
Noted. What's the saying: I lemented because I had no shoes, until I met a man who had no feet. We are truly blessed to live in this nation and show our appreciation in the worse way. Other countries in the world are still archaic and inhumane in their thinking and resolutions.
 

Carolina D. (17)
Saturday November 21, 2009, 7:07 pm
Noted, thanks for the article!
 

Mary Donnelly (13)
Saturday November 21, 2009, 10:17 pm
Thanks Cal
 

Tinkie K. (62)
Sunday November 22, 2009, 12:25 am
Nasty Nasty... First the Financial Institutions offer gifts and persuade people with low incomes to take a loan. Of course they take it, because they are human, and also want to enjoy life just a little, or want to progress in their career, or for farming equipment, etc
Only after it is too late do they realize that they have been had.

People do not really believe that the financial system was stupid. It was greedy and preyed on helpless people of which it knew that they could never pay back the loans.

The articles should not be about the punishments in various countries, it should be about the fact that this credit was offered to low-income people in the first place.
 

Cassandra toney (20)
Sunday November 22, 2009, 4:43 pm
the recession does hurt but like someone here said some get in over their heads.Happened to a relative of mine because of a lay off and he got in way over his head.Started out very well but once he got laid off his unemployment could not supplement his full work income.Than it came to paying bills first,food came last.How sad.Have to have a roof over your head!The recession has brought many down.
 

Mrs Shakespeare (0)
Monday November 23, 2009, 1:37 am
Some people deserve this, why? because they chose to buy a BMW they cant afford, they chose to have a nosejob they dont need, they chose to go to the Bahamas when they barely have insurance. Such jokes should be punished!
 

Paul Puckett (46)
Monday November 23, 2009, 3:44 am
We will never move beyond this financial crisis until we recognize the cause. Banks made loans that they shouldn't have made and people that couldn't afford the payments signed willingly. That isn't the cause.

Wall Street bundled the various debt products and found a way to make a fortune selling them to investors who paid high expenses and took heavy losses, that was also not the cause.

The cause of any event almost always goes deeper. In this case, 75 years of tax breaks and legislation from congress emphasizing home ownereship and real estate investing created an extremely favorable and irrestible advantage of real estate over other investments. The cause of the real estate crisis and the reason so many flooded the housing market driving prices to a bubble, the Federal Gov't.

We look to the current congress to fix the errors of the past while many of the membership were part of the problem. Congress uses the tax code to manipulate and drive behavior. Eliminate the income, capital gains, and estate tax and replace it with a National Sales Tax. Then, congress loses control and drug dealers, money launderers, and even plain old tourists, pay into our tax system.

 

Irina Brenner (274)
Monday November 23, 2009, 7:15 am
.Start by respecting the cutomer . Stopp telling customers bullshit about items Stop to tell them what to buy ,how life has to be and what theire needs are before you.judge the person who spends to much money on luxury
 

Chaz Gaily Berlusconi (274)
Monday November 23, 2009, 7:53 am
We need to curb our appetites for material need... things that we do not need... we need to learn the art of discipline when it comes to saving and putting away for a rainy day or for something that is seriously needed in the future... one cannot always keep up with the Jones... but we can learn to live a more frugal life and feel all the much better for it...
 

Susanne Dawn P. (109)
Wednesday November 25, 2009, 6:49 pm
Noted, and Thank you. I truly appreciate PAMELA A. "I lamented because I had no shoes, until I met a man with no feet".
 
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