Kart, in reply to your post #31. I agree with your sentiment. I am really starting to believe that people do not have the capacity to see the bigger picture. The problem is picking of winners and losers. The rules are not he same for everyone.
You know I once dated a woman from Ukraine. She grew up in the Soviet Union. She used to tell me all the time that it was chaos living under Communists rule because no one really knew what the rule were. They were different rules for everybody.
This si where we are headed if we don’t get this under control. But here have people like sportutegrl attempting to take the moral high ground while neglecting to see where the morality is broken.
unbelievable.
I lived through the 1970's and 1980's where there were housing price crashes and I personally knew people with conventional 30 year loans that played by the rules and somehow were 'underwater'. No one even suggested for one microsecond that they would simply stop paying or turn their house over to the bank. It was simply unheard of. People had signed a contract and were going to live up to it. There was also a huge bank scandal that involved banks lending money on overvalued commercial properties and getting bailed out when the defaults came in. (See Keating 5 S&L crisis). Still no one walked away from their mortgage as long as they could still pay.
If someone is handing out taxpayer dollars to redheads, I would get in line if I was a redhead. I blame the guys handing out the dollars, the politicians in charge of spending our money wisely, the government. If the government is going to tax us and hand out free money to banks, I can't blame the banks for getting in line and holding out their hands.
Defaulting on a loan that you can pay will only make this problem worse. Plus, you are playing right into the anarchist C&P crash the system strategy. Hey, are you one of them?