[quote=patientrenter]I was raised to never do something like that, scaredycat, but the total unfairness of the massive bailouts has made a dent in my moral compass. Now if I saw a chance to pocket a few hundred thousand (in value) by drinking from the same trough, I would. I pay hundreds of thousands in taxes every year, so I am going to be paying for all the feeding anyway.
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If you pay “hundreds of thousands in taxes every year” then, by definition, you make at least $500K per year. So, a couple of observations/questions follow. First, if you’re making that kind of money, is another “few hundred thousand dollars” really worth the hassle (I presume you’ve saved up a good bit of this money over the years)? Second, any job in which you’re making that kind of dough probably involves something in which filing bankruptcy and/or defaulting on a mortgage would be highly embarrassing (it’s public information) and potentially harmful to your career. Again, is your reputation worth “a few hundred thousand dollars”? I certainly hope not.
Personally, such actions would do irreparable harm to my career. I sit on two bank boards, manage two private equity partnerships, and do a lot of financial consulting. Hell, I’ve had clients ask to run a credit check on me prior to engaging me or investing in my partnerships. For all intents and purposes, I can’t operate with a FICO under 750 – too many questions would be raised. So, the amount of money for which I’d be willing to ruin my reputation is high. Quite high. And many, many, many, MANY multiples of a few hundred thousand dollars.
So, if you’re making over $500K/year I’ve gotta believe that you’re in the same boat – or at least sailing in a similar body of water. Forgetting about the ethical issues, I just can’t see how a few hundred grand is worth the hassle, embarrassment, and potential career risk. It just doesn’t add up.
