Publicly Humiliate Non-Paying Debtors!

[peterb]

US Govt should be suing all those SOB’s for shareholder fraud. Not the least of which is that POS Raines!

[patientrenter]

HereWeGo, I agree with you. But do you think that people who wrote a check for $700,000 for an ordinary middle-class home are not also fully responsible?

I think there was a very widespread readiness to borrow, with almost no commitment to repaying, unless repaying was painless because the house price went up. House prices were in Monopoly Money. Everything else was in real money. I knew many people who thought nothing of adding another few hundred thousand dollars to their house price budget, and then would buy cheaper ice cream to save $0.75. That’s because they never planned to repay the loan from their income. I think our problem isn’t fixed until that mindset changes. Many economists, regulators, politicians, and ordinary people still haven’t come to terms with the fundamental, painful, truth: House prices aren’t right-sized until almost all buyers can actually pay off the loan out of their income.

[patientrenter]

HereWeGo, I agree with you. But do you think that people who wrote a check for $700,000 for an ordinary middle-class home are not also fully responsible?

I think there was a very widespread readiness to borrow, with almost no commitment to repaying, unless repaying was painless because the house price went up. House prices were in Monopoly Money. Everything else was in real money. I knew many people who thought nothing of adding another few hundred thousand dollars to their house price budget, and then would buy cheaper ice cream to save $0.75. That’s because they never planned to repay the loan from their income. I think our problem isn’t fixed until that mindset changes. Many economists, regulators, politicians, and ordinary people still haven’t come to terms with the fundamental, painful, truth: House prices aren’t right-sized until almost all buyers can actually pay off the loan out of their income.

[patientrenter]

HereWeGo, I agree with you. But do you think that people who wrote a check for $700,000 for an ordinary middle-class home are not also fully responsible?

I think there was a very widespread readiness to borrow, with almost no commitment to repaying, unless repaying was painless because the house price went up. House prices were in Monopoly Money. Everything else was in real money. I knew many people who thought nothing of adding another few hundred thousand dollars to their house price budget, and then would buy cheaper ice cream to save $0.75. That’s because they never planned to repay the loan from their income. I think our problem isn’t fixed until that mindset changes. Many economists, regulators, politicians, and ordinary people still haven’t come to terms with the fundamental, painful, truth: House prices aren’t right-sized until almost all buyers can actually pay off the loan out of their income.

[patientrenter]

HereWeGo, I agree with you. But do you think that people who wrote a check for $700,000 for an ordinary middle-class home are not also fully responsible?

I think there was a very widespread readiness to borrow, with almost no commitment to repaying, unless repaying was painless because the house price went up. House prices were in Monopoly Money. Everything else was in real money. I knew many people who thought nothing of adding another few hundred thousand dollars to their house price budget, and then would buy cheaper ice cream to save $0.75. That’s because they never planned to repay the loan from their income. I think our problem isn’t fixed until that mindset changes. Many economists, regulators, politicians, and ordinary people still haven’t come to terms with the fundamental, painful, truth: House prices aren’t right-sized until almost all buyers can actually pay off the loan out of their income.

[patientrenter]

HereWeGo, I agree with you. But do you think that people who wrote a check for $700,000 for an ordinary middle-class home are not also fully responsible?

I think there was a very widespread readiness to borrow, with almost no commitment to repaying, unless repaying was painless because the house price went up. House prices were in Monopoly Money. Everything else was in real money. I knew many people who thought nothing of adding another few hundred thousand dollars to their house price budget, and then would buy cheaper ice cream to save $0.75. That’s because they never planned to repay the loan from their income. I think our problem isn’t fixed until that mindset changes. Many economists, regulators, politicians, and ordinary people still haven’t come to terms with the fundamental, painful, truth: House prices aren’t right-sized until almost all buyers can actually pay off the loan out of their income.

[Arraya]

all those debtors and forced them to refinance their homes to buy the Mercedes and take the exotic vacation. Yeah, they’re the bad guys.

See, Michael is going to lead the way for the enslavement. Maybe they will let you have a cattle prod? Would that make you feel good?

Regarding that stereo typical description. What percent of the people walking away do you think that actually is. Some people realized they made a bad deal and are walking away out of a personal responsibility to their own finances. I encourage people to walk away all the time. So maybe I am the bad guy. That description is propagated to give you a distraction. To feel better than somebody and not feel stupid how we were all just fleeced by our wonderful leaders.

Heck, they were all cheering it on. Greenspan in 04. Bush said it was his tax cuts. Economist was running covers.

But Michael thinks that kind of predation is good. To take advantage of people like that and if they couldn’t figure out it was a scam then they must pay.

Maybe people that have been in banking since forever know EXACTLY what is going to happen you offer free money and infinite wealth to the masses.

You see Michael, those people are as easy to trick as you are. You just did not get tricked by the housing scam. Good job, you get a gold star feel the superiority. Yeah a few poor people that were irresponsible took down the whole western worlds banking system. Get a grip man.

[Arraya]

all those debtors and forced them to refinance their homes to buy the Mercedes and take the exotic vacation. Yeah, they’re the bad guys.

See, Michael is going to lead the way for the enslavement. Maybe they will let you have a cattle prod? Would that make you feel good?

Regarding that stereo typical description. What percent of the people walking away do you think that actually is. Some people realized they made a bad deal and are walking away out of a personal responsibility to their own finances. I encourage people to walk away all the time. So maybe I am the bad guy. That description is propagated to give you a distraction. To feel better than somebody and not feel stupid how we were all just fleeced by our wonderful leaders.

Heck, they were all cheering it on. Greenspan in 04. Bush said it was his tax cuts. Economist was running covers.

But Michael thinks that kind of predation is good. To take advantage of people like that and if they couldn’t figure out it was a scam then they must pay.

Maybe people that have been in banking since forever know EXACTLY what is going to happen you offer free money and infinite wealth to the masses.

You see Michael, those people are as easy to trick as you are. You just did not get tricked by the housing scam. Good job, you get a gold star feel the superiority. Yeah a few poor people that were irresponsible took down the whole western worlds banking system. Get a grip man.

[Arraya]

all those debtors and forced them to refinance their homes to buy the Mercedes and take the exotic vacation. Yeah, they’re the bad guys.

See, Michael is going to lead the way for the enslavement. Maybe they will let you have a cattle prod? Would that make you feel good?

Regarding that stereo typical description. What percent of the people walking away do you think that actually is. Some people realized they made a bad deal and are walking away out of a personal responsibility to their own finances. I encourage people to walk away all the time. So maybe I am the bad guy. That description is propagated to give you a distraction. To feel better than somebody and not feel stupid how we were all just fleeced by our wonderful leaders.

Heck, they were all cheering it on. Greenspan in 04. Bush said it was his tax cuts. Economist was running covers.

But Michael thinks that kind of predation is good. To take advantage of people like that and if they couldn’t figure out it was a scam then they must pay.

Maybe people that have been in banking since forever know EXACTLY what is going to happen you offer free money and infinite wealth to the masses.

You see Michael, those people are as easy to trick as you are. You just did not get tricked by the housing scam. Good job, you get a gold star feel the superiority. Yeah a few poor people that were irresponsible took down the whole western worlds banking system. Get a grip man.

[Arraya]

all those debtors and forced them to refinance their homes to buy the Mercedes and take the exotic vacation. Yeah, they’re the bad guys.

See, Michael is going to lead the way for the enslavement. Maybe they will let you have a cattle prod? Would that make you feel good?

Regarding that stereo typical description. What percent of the people walking away do you think that actually is. Some people realized they made a bad deal and are walking away out of a personal responsibility to their own finances. I encourage people to walk away all the time. So maybe I am the bad guy. That description is propagated to give you a distraction. To feel better than somebody and not feel stupid how we were all just fleeced by our wonderful leaders.

Heck, they were all cheering it on. Greenspan in 04. Bush said it was his tax cuts. Economist was running covers.

But Michael thinks that kind of predation is good. To take advantage of people like that and if they couldn’t figure out it was a scam then they must pay.

Maybe people that have been in banking since forever know EXACTLY what is going to happen you offer free money and infinite wealth to the masses.

You see Michael, those people are as easy to trick as you are. You just did not get tricked by the housing scam. Good job, you get a gold star feel the superiority. Yeah a few poor people that were irresponsible took down the whole western worlds banking system. Get a grip man.

[Arraya]

all those debtors and forced them to refinance their homes to buy the Mercedes and take the exotic vacation. Yeah, they’re the bad guys.

See, Michael is going to lead the way for the enslavement. Maybe they will let you have a cattle prod? Would that make you feel good?

Regarding that stereo typical description. What percent of the people walking away do you think that actually is. Some people realized they made a bad deal and are walking away out of a personal responsibility to their own finances. I encourage people to walk away all the time. So maybe I am the bad guy. That description is propagated to give you a distraction. To feel better than somebody and not feel stupid how we were all just fleeced by our wonderful leaders.

Heck, they were all cheering it on. Greenspan in 04. Bush said it was his tax cuts. Economist was running covers.

But Michael thinks that kind of predation is good. To take advantage of people like that and if they couldn’t figure out it was a scam then they must pay.

Maybe people that have been in banking since forever know EXACTLY what is going to happen you offer free money and infinite wealth to the masses.

You see Michael, those people are as easy to trick as you are. You just did not get tricked by the housing scam. Good job, you get a gold star feel the superiority. Yeah a few poor people that were irresponsible took down the whole western worlds banking system. Get a grip man.

[HereWeGo]

I agree with you as well, patient. Defaulters are defaulters, perhaps with the exception of those who are driven to BK by medical bills or the like.

Too many Americans are defaulting on student loans, credit cards, auto loans, and of course mortgages. Perhaps they think they’re sticking it to “the man.” I wonder if they’ll still think that once their standard of living crashes.

The thing that’s really unfortunate is that everyone is being dragged down into the profligates’ abyss.

[HereWeGo]

I agree with you as well, patient. Defaulters are defaulters, perhaps with the exception of those who are driven to BK by medical bills or the like.

Too many Americans are defaulting on student loans, credit cards, auto loans, and of course mortgages. Perhaps they think they’re sticking it to “the man.” I wonder if they’ll still think that once their standard of living crashes.

The thing that’s really unfortunate is that everyone is being dragged down into the profligates’ abyss.

[HereWeGo]

I agree with you as well, patient. Defaulters are defaulters, perhaps with the exception of those who are driven to BK by medical bills or the like.

Too many Americans are defaulting on student loans, credit cards, auto loans, and of course mortgages. Perhaps they think they’re sticking it to “the man.” I wonder if they’ll still think that once their standard of living crashes.

The thing that’s really unfortunate is that everyone is being dragged down into the profligates’ abyss.

[HereWeGo]

I agree with you as well, patient. Defaulters are defaulters, perhaps with the exception of those who are driven to BK by medical bills or the like.

Too many Americans are defaulting on student loans, credit cards, auto loans, and of course mortgages. Perhaps they think they’re sticking it to “the man.” I wonder if they’ll still think that once their standard of living crashes.

The thing that’s really unfortunate is that everyone is being dragged down into the profligates’ abyss.

[Author]

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