Consumers Need a Debt Jubilee

roach

On CNBC today on Monday, Aug. 22, Stephen Roach of Morgan Stanley said we need “ways to forgive the excesses of mortgage, installment and revolving credit, as what was done in the 1930s, that will help consumers get through the pain of deleveraging sooner rather than later.”

Read commentary and watch the video at: http://www.businessinsider.com/stephen-roach-says-consumers-need-debt-jubilee-2011-8#ixzz1X28YJkjf