Do You Believe in Usury?|
|Date:||February 4th, 2009 04:35 am (UTC)|| |
For simplicity, I was assuming a loan that paid interest only until maturity. (And even if it amortizes, that just means that each year you borrow less, equal to the amount the 25-year loan would have as its balance on that date.)
My point is that the same transaction can be structured as a single loan or a series of loans, with the same cashflows, so why should one be morally different from the other?