I think you are very “easy going” and carefree when it comes to speculating with other people’s money but you are very prudent when it come to saving yours.
The whole idea of a capitalist system is that people who make poor capital investment decisions with THIER money do not get to keep it – rather capital accures to others who make good decisions and flees those who make poor ones. The lenders who abdicated thier responsibilities and MISALLOCATED thier capital into BAD LOANS should loose it to people who can be better shepards.
Dotherightthing – it is not your responsibility that some idiot lender made the decisions they did with THIER money. You should act within the boundaries of the law to maximize your outcome. It is a business question, not a moral question. If you doubt that it is all about business, ask yourself how many days reprieve on foreclosure and eviction that any lender would give to people whith hardship if it was going to cost them money? NOT ONE DAY. They would (and DO!) boot the bewlidered elderly coupe onto the street. They would (and DO!) have the sherrif remove cyring children and pile the toys and clothes on the curb.
Ironman’s idealism has no bearing on the reality of this industry. It is ruthless and you should play savy hardball.
