>>16235334 (pb)
Tax authorities will take pennies on the dollar, if not at auction (when it can be the reserve), over $0 is better than $0.
Stock margining by retail was unregulated and was between 10-20%. Loans taken out on homes to go into stocks, banks lending to ridiculous development ideas because of loose credit controls. The WHOLE bubble popped when the real estate stopped being able to be funded. A k a No cash left to pay the squeeze, anywhere.
1929 was the result of the real estate collapse of 1926-28, and all associated credit loaned out with it.
That'll get pillowed.
Making them burn their zeal out on Drafts from February might prove useful over time. Need new recruits or "Tums For The Now Disaffected", and their running out of recruits but quick.
Attrition, my frens, mental attrition is werking.
IL too.