When one clicks on an NYT article on wage garnishment, one is led to a resonant trio of articles. In the garnishment article, we learn that many people can fall prey to a vicious cycle of huge interest payments, so they become debt zombies, unable to pay off the loan in full given (say) 28% interest rates. We also learn that judicial review of the garnishment procedure is not the norm.
At the bottom of the page of this article, the Times asks you to click on another article. This one is about a multiyear record number of personal bankruptcies for March 2010. This is of course the worst outcome for a lender. It is obvious why a reader looking at the garnishment article would want to click on a personal bankruptcy update.
What was the next suggested article to read?
How strong the stock market was last week!
Says it all . . .
Copyright (C) Long Lake LLC 2010