Usury for dummies
December 18, 2012 § 5 Comments
Like many subjects, usury makes for some rather complex discussion. At bottom though I think it is a simple enough concept. In fact in the comments below I drafted a proposed Constitutional amendment that would wipe out legally sanctioned usury. It took me eleven words:
No government or arbiter shall enforce deficiency judgements in any contract.
If you don’t like that one, here is an alternative:
All debt contracts in the United States shall be nonrecourse.