[MarkL]

Hmmm....

How can Chase go insolvent? I’ve been a responsible mortgage and credit card customer with them for years. Never a missed or late payment, and in fact I always pay extra...

If they go insolvent, does that mean that my mortgage and any balance on my credit card are forgiven? I mean, since I seem to be far more responsible then the people in charge at the bank...

Of does it just mean I’m screwed and a sucker for always playing by the rules and have been responsible... The government is rewarding incompetence and failure, and punishing people for their achievements.

Mark

[gpk9]

"If they go insolvent, does that mean that my mortgage and any balance on my credit card are forgiven? "

I rather doubt it. Both of those are assets to the bank. They have some value to someone. I suspect if BoA goes under, those assets will be sold off to someone else, a normal part of the bankruptcy process.

However, I also suspect that BoA will not be allowed to go bankrupt, but will be handed all the taxpayer dollars they desire to stay solvent.

... doesn't matter though. They'll eventually go bankrupt anyway, along with just about everyone else, when the dollar crashes.

[blam]

"Of does it just mean I’m screwed and a sucker for always playing by the rules and have been responsible... The government is rewarding incompetence and failure, and punishing people for their achievements."

Yup.

Just sit on your front porch, do nothing and get fat while people bring you free stuff for voting correctly.