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Iceland forgives mortgage debt of its population

1 pointsby zotzabout 13 years ago

1 comment

paulhauggisabout 13 years ago
I sure wish I could get a mortgage for a house I obviously can't afford and then not have to pay it back.<p>It doesn't teach the person getting the mortgage anything about how to properly manage their money and not get in this sort of situation again.<p>They will just do it again in the future, but with something like credit card debt. This is a huge disservice to their economy.<p>I also wonder who has to pay for this. If it's the bankers, then it's a scary thing. It means the government pretty much has control over the companies/banks there. If not, then it's coming out of the taxpayer's
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