Attention Teabaggers: Obamacare covers medication for paranoia!
In the days before that pesky 13th amendment was passed, a common alternative to bankruptcy was to simply allow the debtor to go into indentured servitude for a few years. These "voluntary" slave contracts helped to greatly extend credit to poor people, as lenders could be assured that even if they didn't get paid back, they would at least get something back in the form of slave labor. In fact, it actually encouraged more lending to the poor simply because lenders knew that enough people would default that they could profit from selling them in the slave trade!
Silly liberals like to call these practices "predatory lending", but in reality, those poor people still signed those contracts, so how could it be predatory when they "voluntarily" took out these loans to pay for vital necessities? Nowadays, with the state interfering and making these contracts illegal, poor people can't get loans as easily, since they don't own enough assets for banks to collateralize.
In an age where debt is crushing our economy, bringing back the practice of giving people the "option" to go into slavery in order to pay off their loans and mortgages would be an incredible boost to our economy. Think of how much free labor corporations could be able to get if we allowed people to do this! Unfortunately, these moralistic liberals want to prevent this from happening. As usual, their policies intending to help the poor are in fact hurting the poor. By banning so called "predatory lending" of "slave contracts", they are standing in the way of economic progress, and stomping all over the poor.
[There are libertarians like Walter Block who actually advocate this]
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A corporation is a person with religious beliefs.