[libstripper]

The problem is, it's not the banks who pay. Any loss suffered by a bank on bad debt is passed on the the bank's other customers ion the form of lower interest on their deposits and/or higher interst on their loans. Deadbeats cost us all money.

[Mamzelle]

Banks who lend without a care of how that money will be paid back--hurts us as well.

[Christian Muniz]

Good point. Bankruptcies are only free to the people who do it. Depending on who loses money, it can cost even more: in Carlisle, PA, Boro Councilman Tim Scott filed for bankruptcy and defaulted on his school taxes. Amazing that a municipal official can file bankruptcy, have taxes erased, and the rest of the taxpayers for the school district pick up the tab. No surprise: he's a Democrat.