"A stable solution will effectively put the decision of how much to borrow in the hands of someone else: Banks, Governments etc. not consumers."
Subprime crisis. National debt.
Are you SURE you want banks or governments making decisions about credit for consumers?
And that is the problem: a loss of financial prudence and risk assessment faculties from the very bottom of our society to the very top. Consumers, banks, governments, all making the same bad choices at every level of society.
As Pogo said: "We have met the enemy, and he is us."
Subprime crisis. National debt.
Are you SURE you want banks or governments making decisions about credit for consumers?
And that is the problem: a loss of financial prudence and risk assessment faculties from the very bottom of our society to the very top. Consumers, banks, governments, all making the same bad choices at every level of society.
As Pogo said: "We have met the enemy, and he is us."