I agree. The foundation of Capitalism is the idea of a voluntary, enforceable contract. Without this concept, we'd be just like any other third-world rat hole. (Which is one reason I do not support a bailout of mortgage holders who entered into a loan contract, and now complain that it's not fair!)
But what's enforceable depends on what's legal. Let's make a contract now that says in return for consideration you give your children to me in slavery. Any court would laugh at the very thought of enforcing that countract because slavery is illegal.
Respectfully, one of the key components of a successful capitalist society is sound money. The way our Treasury Dept. has caused the dollar to gyrate makes any kind of long-term contract a huge gamble. These problems we are seeing are not because of particularly reckless or foolish behaviour on the part of the borrowers or the lenders, but terrible monetary policy and the market's reaction to impending fiscal policy (the Obama-Pelosi years don't look to be all that good for capitalism). Long-term contracts are also important to the smooth operation of our capitalist society (imagine the US without any mortgages). Anyhow, you are getting a bailout whether you like it or not. We are inflating away the problem and spreading the pain to anyone holding dollars. Sorry about the OT rant.
And it is hilarious when Open Software comes along and creams these guys without any money ever changing hands.