Moral conundrums aside, the reality of asset bubbles that have burst is that bad debts that cannot be repaid–won’t be. Extend and pretend policies, only prolong the economic drag aftermath. Admitting and purging bad debts from the financial system is key to the healing process. Irish business people are flocking to file for bankruptcy in the UK in order to get out of debt years sooner. Here is a direct video link.
Follow
____________________________
;
