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The required asymmetry for "predatory lending" is of power, not of information.

You just need to look at the way Greece has been forced to take billions of new loans over the past two years and the conditions attached to them (billed as designed to return Greece to debt sustainability whereas any realistic assessment was already predicting from the beginning what has already happened: not only is Greece's ability to pay deteriorating, but it is descending deeper and deeper into debt).

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Wed Dec 14th, 2011 at 06:27:51 AM EST
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