Monday, April 5, 2010

The Bankruptcy Feud

I highly recommend a read of the debate taking place between Emily (newly) of Almost Frugal and Abigail at I Pick up Pennies.

Emily's bankruptcy story
really hit a nerve with Abigail (imo, with some due cause).  Emily responded, defending some of her terminology and sentiments, while conceding a few points.

Whew, this feud has all the drama you've come to expect from the frugality blogs and more.   I think it will have a happy ending, though, as Emily alludes to some upcoming collaborations between the two.

Where do you stand in this debate?  I think the feud ultimately asks one question: How much penitence should we require from bankrupt debtors?  For a historical perspective and insights on how bankruptcy was conceived in the early American republic, see last year's The New Yorker article, "I.O.U."

2 comments:

  1. LOL, I know, it's crazy, isn't it? But oh-so-entertaining. :) What you don't see is the flurry of emails between Abby and I going on. She's a pretty decent person (!!!).

    You hit the nail on the head, I don't have the attitude of penitence. Probably because it was the business that dragged us down and not our own wild consumerism. I feel more justified than someone who got here by buying new cars and taking expensive vacations. And I probably shouldn't, apples is apples and we're still debtors, no matter how it happened. And maybe that's what got under Abby's skin so much. Oh, well, another lesson learned. I'll be more mindful in the future.

    Thanks for commenting - finding new blogs to read is like the toy in the cereal box! :)

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  2. re Emily: I'm glad to hear that the debate is going down civilly! Like I commented on your most recent post on AF, I think it's brave to bring your story out into the open.

    Thanks for stopping by!

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