Thread: Interest
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Old 03-15-2017, 08:20 PM
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Originally Posted by moonpunter View Post
A smart bank won't risk giving someone with bad credit a loan. A less scrupulous bank would give someone with bad credit a loan, collect some payments with interest (the way loans are amortized, there's more interest in earlier payments), and then once the debtor defaults, they repossess the property and liquidate it to recoup their initial investment.
I.e. no interest for a smart bank
and infinite interest for a less scrupulous bank
If you have an apple and I have an apple and we exchange these apples then you and I will still each have one apple. But if you have an idea and I have an idea and we exchange these ideas, then each of us will have two ideas
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