[Batrachian]

These people made bad business decisions and bad bets. That doesn't make them any greedier than anyone else, just less successful in what they tried. No one is going to bail them out, either, because it is a second home. They'll have to pay the piper, and that's right, but if we place to much of an onus on "greed", then why should anyone ever take a chance?

Capitalism implies a profit motive, which is another word for greed. Let them succeed if they can, but if they fail, then that's on them.

The real greed is on Wall Street, where trillions of dollars of securities where sold on the foolish notion that markets will always go up, never down, and risk is spread out so widely as to be inconsiderable. All false, but because they had such powerful allies in Washington then they where bailed out, at our expense.

We all said "let them fail", but that's not what our overlords in Washington wanted.

[org.whodat]

The real greed is on Wall Street, where trillions, and trillions, and trillions, and trillions and trillions, of dollars of securities where sold on the foolish notion that markets will always go up, never down, and risk is spread out so widely as to be inconsiderable. All false, but because they had such powerful allies in Washington then they where bailed out, at our expense.

Still may be a few trillion short!!!

[GreyMountainReagan]

“No one is going to bail them out, either, because it is a second home. They’ll have to pay the piper, “??

For some reason I doubt they will pay the piper. They took loans out on their first house. I imagine I’ll be paying for that along with my own mortgage, even though I paid 30% down and 30 year fixed at a monthly house payment to income ratio of about 15%.

By the way my 7 kids are stuffed into 3 bedrooms so it is not like we live in even a middle class house. It is over 50 years old and I have done significant repairs on it.