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If we brought in some medieval usury laws and gave whippings - with the number of lashes depending on how much you got - to everyone involved in a speculative bubble, maybe people would think twice. (Or the rich would become bloody pulp.)

When it comes to the houses I have no problem with people using their limited liability on mortgages. The bank gets the collateral that was put up, ie a house. The bank can then sell it or rent it out or build something else on the lot. If they absolutely did not want a house, they should not have made a loan with it as collateral.

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by A swedish kind of death on Fri Aug 27th, 2010 at 04:02:35 AM EST
[ Parent ]
Better than whipping, those involved should be made responsible to the full extent of their personal wealth and future earnings for high financial crimes.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Aug 28th, 2010 at 12:03:20 AM EST
[ Parent ]


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