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Thursday, 21 November 2013

The Case for Debt Repudiation and why it is a Good Idea

Congresswoman Kaptur advises her constituents facing foreclosure to demand that the original mortgage papers be produced. She says that - if the bank can't produce the mortgage papers - then the homeowner can stay in the house.
Portfolio manager Marshall Auerback argues that a debtor's revolt would be a good thing.
Walking away from home mortgages has actually become mainstream, being trumpeted by CBS, CNBC, the New York Times, the Wall Street Journal, NPR and many others….
There is in fact 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....Read More

Ziad K Abdelnour

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