[quote=jpinpb]Jealous? No. Resentful that my tax dollars go towards supporting the greed and stupidity of others, bankers or whoever contributed to this mess, yes.
I think if the banks were not being subsidized, they would want to act quickly to remove any non performing loans and start to generate income. I think in a free market, most businesses would want to act immediately to get revenues. I know that in today’s times that just sounds like crazy talk.
Clearly from all the multiple offers I keep hearing about, there are people wanting to buy these homes from the banks. If we are hearing about it, I’m sure the banks are also. They know there are people out there ready and waiting to buy their nonperforming asset. Why are they not selling? Well, why should they? They are being compensated to do nothing. The joke’s on us.[/quote]
Ok, so why should you be resentful at Bill’s action of living for free if it is not driving bailouts. I suppose you could be resentful that he decided not to pay his mortgage because in a tiny way it drove bailouts but also within the guidelines of our laws. But not his living for free.
The bailouts were because of a huge systemic structural failure. Not really because of individual homeowners actions. It’s like being resentful of the bolts in a bridge that collapsed, were some of the bolts were tin instead of steel. When a few the structural engineers designed the QA for the bolts. Once the weak bolts go it adds stress to the stronger bolts and they break as well and the whole bridge collapses. From what we know Bill was a strong bolt that decided to bolt, when he saw the bridge going down.
Still, we have the same engineers doing the re-design on the bridge and we are continuing to look at all the bolts that are popping out.
