[quote=CA renter][quote=FlyerInHi]Yes, people should be encouraged to renegotiate their debts and preserve their standards of living.

When it comes to cities in financial difficulty, the right thing to do is not to keep on paying creditors. You have to preserve good services to protect the future of the city.[/quote]

That depends very much on which side you’re on (creditor or debtor). If contracts no longer mean anything, what does that do to an economy and society?[/quote]

it doesn’t mean contracts are meaninhless. Bankruptcy is foreseeable and can be negotiated with that possibility in mind.