-
often if you were bankrupt you were in jail, actually worse than that.
-
Sometimes in the nineteenth century in England not only if
-
you were bankrupt were you in jail
-
but your creditors were having to pay the fees to feed you in jail.
-
So there you were sitting in jail,
-
you weren't paying that money back to your creditor,
-
and you're actually costing money to your creditor by being in jail.
-
This seems like a situation that you want to renegotiate your way out of.
-
You say, hey let's let these guys out of jail.
-
Let them be productive again, and then they'll pay back part of the loans.
-
So you had these waves of bankruptcy reform in which
-
the debtors' prisons were closed down,