This is bad news! What we have here, essentially, are deadbeats (“FBs”) being protected by the courts based on a technicality.
This ruling is simply more of the “deny and delay” approach that politicians on both sides of the aisle seem to prefer. The result is that prices will remain artificially inflated for a bit longer. Banks will incur higher costs which will make credit more costly. Good grief!
So now we have the Judiciary, in addition to the Executive, interfering with the free market system. Don’t they realize that postponing the inevitable will only make the pill more bitter to swallow?
