Strategic Default: Watch Elites Freak Out To the Trend That Isn’t Happening. (via Foreclosureblues)

Strategic Default: Watch Elites Freak Out To the Trend That Isn’t Happening. Today, January 11, 2011, 21 minutes ago | Mike Remember this guy?  David Walker of the Peterson Institute gets nostalgic about debtors prisons for strategic defaulters. There is a norm asymmetry being ruthlessly exploited between how people and businesses view debt.   Strategic default is not a phenomenon in any empirical data, but it is a boogeyman that needs to be ruth … Read More

via Foreclosureblues