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Strategic Default -- The Big Solution
Yesterday I wrote about The Big Surprise in which I attempted to make a case for some pre-emptive action by lenders to head off further defaults, specifically voluntary or strategic defaults.  Banks have not publicized anything that indicates that they plan to make any changes in the current way they do business -- they are ignoring the issue.  The anti business, especially anti-bank government is content to wait and watch the problem they foresee as exclusively a bank problem deteriorate.
There are some things that could be done to reduce the number of defaults, and I'll suggest a few.  Please add to the list if you have any proposed solutions. 
Prosecute to the fullest extent of the law.  Most businesses and attorneys general will only pursue the most egregious cases and let the small stuff fall by the wayside.  A harsher stance that would not tolerate fraud and recoverable default would slow down some of the walkaways.  Banks don't like to enforce things that cost more than probable recovery, but there may be some deterrent derived from full enforcement of all legal remedies.  I don't think this will happen, and I'm not sold on the idea that it would make much ... more

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