Money Angles: Happy Returns in Home Loans

Happy Returns in Home Loans

A young investment banker I know went bankrupt not long ago. He had let his debts get the better of him and had gambled recklessly in the market. But he was of essentially good character and excellent financial prospects, so if only his creditors had borne with him until he got his bonus, everything would have been fine. "Sure, sure," said three of his creditors, who had heard it all before. They forced him into bankruptcy over $60,000. Six months later, he got a quarter of a million dollars bonus and paid off all his creditors except the three. When his...

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