Question
Understanding and properly utilizing debt is not only a key to success in business, it is a key to success in life. Debt, also referred to as leverage, can be both a valuable tool and a recipe for disaster. Describe scenarios with both a proper use of debt and an inproper use of debt. Please be specific as well as realistic. Dont describe a scenario that wouldnt be possible in todays environment (in other words, the days of no doc mortgages where you are given a loan without revealing your income or other personal information are over).