First, I never have understood why people with the ability to pay off debt would be in debt in the first place. Of course if people with the monetary means to supplement creditors back the money borrowed they should have an obligation to do it. The point of a loan is to eventually repay it- not to take the money and run. The government would be fulfilling its obligation to business, which Banks are by the way, to secure that they are not being taken advantage of. The fact of the matter is that if anyone borrows money they have to prove they have the means to eventually be able to pay it back. Unless someone can prove they can repay the bank borrowed money they would not have even be eligible to have received a loan. It boils down to robbery when a person does not pay back a loan when they signed their name saying they would have repaid it by. By law government can step in to demand recompensation of monies stolen.





Let's imagine for a moment it weren't a bank loaning the money. Say you agree to loan U.S. 24,000 to your friend to buy the sail boat they have always dreamed of. They take the money and promise to repay it within a year. So a year rolls around and what are you left with: a debt of $24,000. Should you eat the debt since you encouraged them to take your money and buy the boat? Would you not demand the money back after the allotted time? You encouraged them, so you should simply lump it! Life does not work that way: just because a creditor loans money does not mean they hold a person at gun point to spend funds like a drunken sailor.