[TigerLikesRooster]

Ping!

[ASOC]

Even moreso in Las Vegas

My sis, who works in the banking biz tells me rents are about 1 / 2 of the old payment.

Easy to move up, and so long as Bammy is running things, unlikely to get better.... for the banks.

[familyop]

"Schoolteacher Shana Richey misses the playroom she decorated with Glamour Girl decals for her daughters. Fireman Jay Fernandez misses the custom putting green he installed in his backyard."

And both of them are government employees.

[lawnguy]

Won’t the bank pursue them for the difference in property value when they sell it?

[Republic of Texas]

There is a moral aspect to paying your debts, however the banks by and large acted immorally also. It's like renting to a tenant that you know either can't or won't pay, or will destroy your property. Is that really their fault? It's the Frog and the Scorpion parable. They are just being the Scorpion they are. Seems to me there is guilt all around here.

[Vet_6780]

Based upon past credit cycles, any time the banking/finance system gets too big, ponzi lending saturates the system and the debt-pumped prices must unwind. Why ? Because banks must lend and the competition forces them to increase leverage beyond safe limits. That's why Glass Steagle was enacted in GD1.

Well Glass Steagle ws undone by former Treasury Secretary Paulson, it took him two concerted attempts but he did the deed and we are suffering from it. Our banking system has reached 2/3 the size of our GDP and the consumer is super saturated with debt. This credit cycle is over.

[Right Wing Assault]

Ms. Richey's family of five used some of the money to buy season tickets to Disneyland, and plans to take a Carnival cruise to Mexico in March. Mr. Fernandez takes his girlfriend out to dinner more frequently. "We're saving lots of money," Ms. Richey says.

Uh, sounds as if they are SPENDING lots of money.