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This sounds like a newly created business opportunity like sub-prime mortgage. Debt collectors buy debts for pennies on the dollar and then collect whatever they can. I know that debt buying is not new.
The people who fell into sub-prime trap were preyed upon by the lenders. Now once again they will fall prey to the collectors. Sad to see the very institutions that were bailed out by taxpayers can once again go after the very same disadvantaged people.
I was never a fan of bailouts for the very reason we see here. We prop up large institutions for making bad decisions yet when it comes to the individual, they are left to fend for themselves.Anyone know here how much money was doled out to financial institutions and if any was paid back?
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White Christian Nationalism:
Freedom for us, order for everyone else, and violence for those who transgress.
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