https://www.therainbowblog.co.uk/a-tangled-and-uninformative-web-we-weave/ What we live in is broken. It can't be mended. Economy fail. Thu, 31 Jul 2014 20:06:53 +0000 hourly 1 https://wordpress.org/?v=6.8.2 https://www.therainbowblog.co.uk/a-tangled-and-uninformative-web-we-weave/#comment-12195 Thu, 31 Jul 2014 20:06:53 +0000 http://www.therainbowblog.co.uk/?p=164#comment-12195 The house would never default to the owner as the debt would aaylws have some value to someone. If you had a $50000 mortgage on the property and the bank collapsed then another institution would aaylws buy up that debt as there is aaylws someone in the world with money. So maybe the Bank of China would buy that debt from your bank for $10000, you would still then owe the Bank of China $50000 because they would have bought up the first legal charge to the property.

]]>