Bankruptcy the Social Norm
Bankruptcy the Social Norm
Once upon a time it was embarrassing for people to claim Bankruptcy. It was a proud moment in someone’s life when they bought a house. That was the American Dream. Now, banks have single handedly screwed it up for everyone. Home foreclosure and bankruptcy are now becoming acceptable in everyday modern America. It is almost as if people are expected to file bankruptcy. We have made it acceptable, which in reality should be the opposite.
Call me old school, but at a young twenty four years of age, I have learned more in the past year then someone in their fifties may have over there past twenty. No I have not foreclosed on my home, no I have not filed for bankruptcy, but what I have done is watched our banks and stock market come to a rapid halt. I don’t understand what the banks were doing when they starting loaning money to unqualified buyers. I realize the government made them to a certain extent, but the banks you see that are flourishing today didn’t take part in that sort of practice. It obviously wasn’t forced upon them. It is sad to see people lose their homes and I hope they stop home foreclosure. I don’t think giving the power to judges is going to help, but it seems like an option.
Tags: Life insurance