| reply to asdfdfdfdfdfdf
Re: Good Idea said by asdfdfdfdfdfdf :
If we were to advocate a similar approach to, let's say, homeowners who are drowning under excessive debt they took on, would we see ready support for such an idea, or would we be hearing about responsibility and moral hazard?
I'm going to run my credit cards up to the limit and use that to pay off my mortgage. Then I'm going to spin off a new company which will bear my credit card debt, as well as my appliances and a few other possessions. That company will additionally pay me to run the appliances. When it somehow can't make a go of that, it will declare bankruptcy to shed the credit card debt. Then I'll borrow a little more out of the house and buy my appliances out of receivership, without ever taking a hit on my own credit. Cool, eh? |
