Unformatted text preview: consider/actual defaulting only if it provides a scheme to pay off in case of an individual defaulting like having intervened and helped the firms that went bankrupt due to the economic recession. But as the government does not consider helping people who are indebted due to their comparative economic insignificance, it is not possible that the government provide a wrong incentive for an individual to consider/actual defaulting....
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This note was uploaded on 09/08/2011 for the course ACCOUNTING 102 taught by Professor Bayne during the Spring '11 term at Berkeley.
- Spring '11