Thursday, March 10, 2005

The New York Times > Opinion > Op-Ed Columnist: The Debt-Peonage Society: "Warren Buffett recently made headlines by saying America is more likely to turn into a 'sharecroppers' society' than an 'ownership society.' But I think the right term is a 'debt peonage' society - after the system, prevalent in the post-Civil War South, in which debtors were forced to work for their creditors. The bankruptcy bill won't get us back to those bad old days all by itself, but it's a significant step in that direction."

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