Reply #48: I'm sure this post is in response to an article I posted from Truthout.

[sinkingfeeling]

It was about people not involved with sub-prime loans but those defaulting on their mortgages because of reduced appraisals of the property, who could afford their payments.

I'm 'old school'. I truly believe in the rule of law. A contract is a legally binding agreement between two parties. Those who took out mortgages borrowed money. They have an obligation to pay it back. By most comments so far on the topic, it seems that no matter how upright the lender was in entering the contract, it's OK to screw them.

Then I must ask, why not just default on your student loans as well? They can't take back that education you got anyway. How about just stopping paying your taxes? And of course, somebody held a gun to all of those who ran up $5,000 to $50,000 on their Visa cards, so shouldn't we just shrug it off because those mean old, credit card companies deserve it?

It would appear that many here would like to emulate corporate 'ethics' in their personal lives. On the other hand, I also believe that if you bought stuff on credit and then refuse to pay the bill or sale the stuff to pay the bill, you stole it.