patrick.net
An Antidote to Corporate Media
1,263,885 comments by 15,107 users - clambo, rocketjoe79 online now
Spain to Suspend Evictions, Rewrite Bankruptcy Law Making Mortgage Debt Discharg
invite response
2014 Dec 22, 4:50am 1,182 views 3 comments
Comments 1 - 3 of 3 Search these comments
Tenpoundbass
2014 Dec 22, 6:13am
Spain could just take ownership of all of the houses, liquidate them.
Print money based on the value of all of those homes, pay back all of the banks.
Then start a program that sells them back to the people living in them, all without the people ever having to leave. They could do it in such a way that would reboot their economy.
They could get very creative in a Keynesian way, that actually seems productive and beneficial to everyone involved. Unlike the way we wielded the Keynesian hacksaw.
Our banksters were to blame but were let off the hook thanks to a campaign that aimed to blame the borrowers.
Takes two to tango.
Strategist
2014 Dec 22, 7:01am
I read the article. It correctly blames the financial institutions for the loans problems in Spain. Our banksters were to blame but were let off the hook thanks to a campaign that aimed to blame the borrowers.
Mish, you need to understand this. If it makes crap loans harder to get that is a good thing.
It will make ALL loans harder and more expensive to get. Those who pay their bills end up the losers.
Spain to Suspend Evictions, Rewrite Bankruptcy Law Making Mortgage Debt Dischargeable
http://globaleconomicanalysis.blogspot.com/2014/12/spain-to-suspend-evictions-rewrite.html
Mish
#housing