lenders borrowers

Borrowers, lenders, and others--beware trusting the government

Posted May 28, 2009 - 07:10 by Philip Brewer

Personal Finance

Having a prosperous country (as opposed to having merely a prosperous elite) depends fundamentally on the rule of law. The system can work adequately well with various sets of rules, as long as they're known in advance and fairly applied. During hard times, though, there's a strong temptation to ignore the rules in a search for a less-bad result. Both borrowers and lenders need to watch out.

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