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Re: Jubilee
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Originally Posted by sebastian_dangerfield
I was trying to start with lenders of last resort and move backwards. Sovereigns are where forgiveness has to start. Particularly because this is going to slam developing nations more than the developed.
I don't pretend to have complete answer. But as someone with a huge appreciation for the elegance of the old Judaic laws on debt (which stopped debt from becoming extreme and cured inequality before it could be an issue), well, maybe it's wise to revisit some of the wisdom of our elders?
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Those of us who work in lending are maybe not interested in being left to hold this bag. I'd be curious to hear how you can make debt relief without ruining a huge chunk of the economy.
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“It was fortunate that so few men acted according to moral principle, because it was so easy to get principles wrong, and a determined person acting on mistaken principles could really do some damage." - Larissa MacFarquhar
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