Is the lender’s recourse for recovery of principal and interest, in a case of default, limited to the named collateral and only the named collateral?
That certain vices have become culturally associated with certain ethnic groups doesn’t turn vice into virtue. The fact that the Irish are (fairly or unfairly) associated with drunkenness doesn’t make sobriety a vice or turn drunkenness into a virtue, nor does it mean that any criticism of drunkenness is anti-Irish. The rhetoric of guilt by association may produce colorful emotions and conversations, but it probably obscures more than it reveals.
Several things may be noteworthy though, at least in terms of characterizing the association and the guilt – to the best of my knowledge, and with all the usual caveats, this being well outside the domain of what I consider substantively pertinent to the basic moral question. Continue Reading Is there a straightforward way to tell if a simple loan for interest is usury?