alt Hacker NewsThe question I'm asking is: what problem? If a bank takes a risk and that risk doesn't pay off how exactly is that society's problem?
And yes, I do think laws should be based on consistent principles. I'm surprised you consider that a controversial point...
Replies
floxy • yesterday at 7:20 PM
>I do think laws should be based on consistent principles.
The problem is that people can take loans without financial liability (not how home purchases work) and drive profitable businesses (which are good for the economy) into the ground (bad for the economy and society).
No one is worried about the bank making the loan in this situation. They are concerned that PE is buying up large parts of the economy using debt they aren't responsible for, which makes them irresponsible owners because they do not face consequences when the moves fail