So like if biden claims to want to buy medical debt, which is largely cheap because its impossible to collect, wouldn't responsible ghoul behavior be to buy as much of this debt as you can, and then negotiate with moneybags of government? Instead of two cents on the dollar you prolly could get like 5 cents on the dollar
I meant i described ghoul behavior, like when some shithead hedgefund buys some latin american debt for 10 cent on dollar, and then through american courts goes and gets full value on the debt.
What stops vulture fund from doing that inwards? aside from ephemeral nature of the government promise to buy debt, so they won't obviously pay full value, but 2-3x of what it costs now? i can see it
Ah... okay.
Completely misread the post.
Ghoul behavior:
Open up debtor's prisons. Make failure to pay your debt a "go directly to prison" crime. No judge, no court, no jury, no attorney, just directly to a prison sweat shop.
You are then required to "work" for pennies a day doing whatever, and those pennies may or may not be added up correctly and applied to the debt owed. When/If your pennies add up to the outstanding debt, you may be freed.