Debt Repudiation: Good Idea or Bad Idea?

30 avril 2010 8:04 - Le buzz immobilier

“There is an established legal principle that people should not have to repay their government’s debt to the extent that it is incurred to launch aggressive wars or to oppress the people.”

“Matt Taibbi wrote Monday:

As powerful as these Wall Street banks may seem, they are also exquisitely vulnerable. Right now virtually all of them are dependent upon the government keeping accounting standards lax enough for all of them to claim to be functional businesses. It is generally accepted that if the major banks on Wall Street were forced to mark all of their assets to market tomorrow, they would all be either insolvent or close to it.

Thus their “healthy” financial status is already illusory. So imagine what would happen if large numbers of those dubious loans on their balance sheets that they have marked down as “performing” were suddenly pushed ahead of time into the default column. What if Greece, and the Pennsylvania school system, and Jefferson County, Alabama, and the countless other municipalities and states that are wrapped up in these corrupt deals just decided to declare their debts illegitimate and back out?”

Debt Repudiation: Good Idea or Bad Idea?

Sur le même sujet :

Ces américains qui ont décidé de ne plus rembourser leur crédit

Au pied du mur, les américains abandonnent leur maison

Aux Etats-Unis, les “walk away” laissent leur maison… et leur dette aux banquiers

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