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Corruption -- mortgage foreclosures
| CorruptionHow did this proposal not get passed into law? Spain's unemployment rate is staggering and with that high of a foreclosure rate, even if the banks lien future assets and earnings, what will they get out of it if everyone files for bankruptcy and thereby relinquishing responsibility for their debt. By handing over the keys and allowing people to walk away, the banks have no chance to recoup whereas by blocking the law, at least they have a chance. The government of Spain should have said no to the bank lobbyists and make them eat the loss. After, it is the banks that created this mess to begin with. Link: Spanish Parliament Rejects Proposal to Ease Rules on Mo |
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