Report shows strategic defaults increasing

[jpinpb]

[quote=briansd1]Be angry at those who didn’t enforce the rules because they believed the market could self-regulate.[/quote]

And I am of the belief that banks are in business to make money and were there no bailout, they would be eager to foreclose and sell the house to get somone in there who would pay. Rather than that happening, bailouts to banks and homeowners and even more people joining the others in not paying. Moral hazard out the window.

[jpinpb]

Arraya – please consider that anyone who bought a home during the bubble, for whatever reason, fear of being priced out, pressures, greed, stupidity, whatever, contributed to the bubble. Cogs in the wheel. Some people abused it and bought multiple houses.

This is NOT a question of FBs having to be punished. It is principle. People need to be responsible for their own decisions. Period. Goes for companies and individuals. Now I did not go around telling people not to buy. People can and will do what they want. And they did. Buying and spending like no tomorrow. Taking trips. Buying toys. Bragging and showing off. All great.

But now the piper’s coming home. Rather than owning their mistakes, they are getting rewarded. See the problem here? No. Because maybe you are in Bill’s boat. If people want to make bad decisions (buying a house during a bubble) then that’s their perogative. But do not come back later and expect to get help, too.

I resent having to help people/companies that made bad decisions. The only punishment going on is to ME. I am being punished for making right decisions. And to add insult to injury, I am having to pay companies and homeowners for their bad decisions.

Give it a rest, Bill and Arraya. You are working the system, but you do not get to complain about it while benefitting from it.

[jpinpb]

Arraya – please consider that anyone who bought a home during the bubble, for whatever reason, fear of being priced out, pressures, greed, stupidity, whatever, contributed to the bubble. Cogs in the wheel. Some people abused it and bought multiple houses.

This is NOT a question of FBs having to be punished. It is principle. People need to be responsible for their own decisions. Period. Goes for companies and individuals. Now I did not go around telling people not to buy. People can and will do what they want. And they did. Buying and spending like no tomorrow. Taking trips. Buying toys. Bragging and showing off. All great.

But now the piper’s coming home. Rather than owning their mistakes, they are getting rewarded. See the problem here? No. Because maybe you are in Bill’s boat. If people want to make bad decisions (buying a house during a bubble) then that’s their perogative. But do not come back later and expect to get help, too.

I resent having to help people/companies that made bad decisions. The only punishment going on is to ME. I am being punished for making right decisions. And to add insult to injury, I am having to pay companies and homeowners for their bad decisions.

Give it a rest, Bill and Arraya. You are working the system, but you do not get to complain about it while benefitting from it.

[jpinpb]

Arraya – please consider that anyone who bought a home during the bubble, for whatever reason, fear of being priced out, pressures, greed, stupidity, whatever, contributed to the bubble. Cogs in the wheel. Some people abused it and bought multiple houses.

This is NOT a question of FBs having to be punished. It is principle. People need to be responsible for their own decisions. Period. Goes for companies and individuals. Now I did not go around telling people not to buy. People can and will do what they want. And they did. Buying and spending like no tomorrow. Taking trips. Buying toys. Bragging and showing off. All great.

But now the piper’s coming home. Rather than owning their mistakes, they are getting rewarded. See the problem here? No. Because maybe you are in Bill’s boat. If people want to make bad decisions (buying a house during a bubble) then that’s their perogative. But do not come back later and expect to get help, too.

I resent having to help people/companies that made bad decisions. The only punishment going on is to ME. I am being punished for making right decisions. And to add insult to injury, I am having to pay companies and homeowners for their bad decisions.

Give it a rest, Bill and Arraya. You are working the system, but you do not get to complain about it while benefitting from it.

[jpinpb]

Arraya – please consider that anyone who bought a home during the bubble, for whatever reason, fear of being priced out, pressures, greed, stupidity, whatever, contributed to the bubble. Cogs in the wheel. Some people abused it and bought multiple houses.

This is NOT a question of FBs having to be punished. It is principle. People need to be responsible for their own decisions. Period. Goes for companies and individuals. Now I did not go around telling people not to buy. People can and will do what they want. And they did. Buying and spending like no tomorrow. Taking trips. Buying toys. Bragging and showing off. All great.

But now the piper’s coming home. Rather than owning their mistakes, they are getting rewarded. See the problem here? No. Because maybe you are in Bill’s boat. If people want to make bad decisions (buying a house during a bubble) then that’s their perogative. But do not come back later and expect to get help, too.

I resent having to help people/companies that made bad decisions. The only punishment going on is to ME. I am being punished for making right decisions. And to add insult to injury, I am having to pay companies and homeowners for their bad decisions.

Give it a rest, Bill and Arraya. You are working the system, but you do not get to complain about it while benefitting from it.

[jpinpb]

Arraya – please consider that anyone who bought a home during the bubble, for whatever reason, fear of being priced out, pressures, greed, stupidity, whatever, contributed to the bubble. Cogs in the wheel. Some people abused it and bought multiple houses.

This is NOT a question of FBs having to be punished. It is principle. People need to be responsible for their own decisions. Period. Goes for companies and individuals. Now I did not go around telling people not to buy. People can and will do what they want. And they did. Buying and spending like no tomorrow. Taking trips. Buying toys. Bragging and showing off. All great.

But now the piper’s coming home. Rather than owning their mistakes, they are getting rewarded. See the problem here? No. Because maybe you are in Bill’s boat. If people want to make bad decisions (buying a house during a bubble) then that’s their perogative. But do not come back later and expect to get help, too.

I resent having to help people/companies that made bad decisions. The only punishment going on is to ME. I am being punished for making right decisions. And to add insult to injury, I am having to pay companies and homeowners for their bad decisions.

Give it a rest, Bill and Arraya. You are working the system, but you do not get to complain about it while benefitting from it.

[briansd1]

[quote=jpinpb]It is principle. People need to be responsible for their own decisions. Period. Goes for companies and individuals. [/quote]

Actually, I’m just a pissed off as you… but I take it stride.

I look at it relative to the big scheme of things.

You should be more angry at businesses going bankrupt and taking down investors and society with them.

Business executives (especially Internet and high-tech) get to start businesses and go bankrupt multiple times over and over. They borrow and use financial instruments to spread risk around to society at large. When the companies go bankrupt, are executives banned from doing it again? No, they continue on and on, while we bear the costs.

Of course, some business succeed and bring great benefit. But many others fail over and over again while executives who game the system get rich. It’s just collateral damage. Take a deep breath.

[briansd1]

[quote=jpinpb]It is principle. People need to be responsible for their own decisions. Period. Goes for companies and individuals. [/quote]

Actually, I’m just a pissed off as you… but I take it stride.

I look at it relative to the big scheme of things.

You should be more angry at businesses going bankrupt and taking down investors and society with them.

Business executives (especially Internet and high-tech) get to start businesses and go bankrupt multiple times over and over. They borrow and use financial instruments to spread risk around to society at large. When the companies go bankrupt, are executives banned from doing it again? No, they continue on and on, while we bear the costs.

Of course, some business succeed and bring great benefit. But many others fail over and over again while executives who game the system get rich. It’s just collateral damage. Take a deep breath.

[briansd1]

[quote=jpinpb]It is principle. People need to be responsible for their own decisions. Period. Goes for companies and individuals. [/quote]

Actually, I’m just a pissed off as you… but I take it stride.

I look at it relative to the big scheme of things.

You should be more angry at businesses going bankrupt and taking down investors and society with them.

Business executives (especially Internet and high-tech) get to start businesses and go bankrupt multiple times over and over. They borrow and use financial instruments to spread risk around to society at large. When the companies go bankrupt, are executives banned from doing it again? No, they continue on and on, while we bear the costs.

Of course, some business succeed and bring great benefit. But many others fail over and over again while executives who game the system get rich. It’s just collateral damage. Take a deep breath.

[briansd1]

[quote=jpinpb]It is principle. People need to be responsible for their own decisions. Period. Goes for companies and individuals. [/quote]

Actually, I’m just a pissed off as you… but I take it stride.

I look at it relative to the big scheme of things.

You should be more angry at businesses going bankrupt and taking down investors and society with them.

Business executives (especially Internet and high-tech) get to start businesses and go bankrupt multiple times over and over. They borrow and use financial instruments to spread risk around to society at large. When the companies go bankrupt, are executives banned from doing it again? No, they continue on and on, while we bear the costs.

Of course, some business succeed and bring great benefit. But many others fail over and over again while executives who game the system get rich. It’s just collateral damage. Take a deep breath.

[briansd1]

[quote=jpinpb]It is principle. People need to be responsible for their own decisions. Period. Goes for companies and individuals. [/quote]

Actually, I’m just a pissed off as you… but I take it stride.

I look at it relative to the big scheme of things.

You should be more angry at businesses going bankrupt and taking down investors and society with them.

Business executives (especially Internet and high-tech) get to start businesses and go bankrupt multiple times over and over. They borrow and use financial instruments to spread risk around to society at large. When the companies go bankrupt, are executives banned from doing it again? No, they continue on and on, while we bear the costs.

Of course, some business succeed and bring great benefit. But many others fail over and over again while executives who game the system get rich. It’s just collateral damage. Take a deep breath.

[briansd1]

[quote=jpinpb]
And I am of the belief that banks are in business to make money and were there no bailout, they would be eager to foreclose and sell the house to get somone in there who would pay. Rather than that happening, bailouts to banks and homeowners and even more people joining the others in not paying. Moral hazard out the window.[/quote]

You are looking at the old banking model which no longer exists.

Banks have not held mortgages for the last two decades.

Loan servicers are no more eager to foreclose than a property manager is save you maintenance on your property. The name of game is the fees that they can charge for the servicing (and during the boom, the commission they could generate for the origination of the loans).

[briansd1]

[quote=jpinpb]
And I am of the belief that banks are in business to make money and were there no bailout, they would be eager to foreclose and sell the house to get somone in there who would pay. Rather than that happening, bailouts to banks and homeowners and even more people joining the others in not paying. Moral hazard out the window.[/quote]

You are looking at the old banking model which no longer exists.

Banks have not held mortgages for the last two decades.

Loan servicers are no more eager to foreclose than a property manager is save you maintenance on your property. The name of game is the fees that they can charge for the servicing (and during the boom, the commission they could generate for the origination of the loans).

[briansd1]

[quote=jpinpb]
And I am of the belief that banks are in business to make money and were there no bailout, they would be eager to foreclose and sell the house to get somone in there who would pay. Rather than that happening, bailouts to banks and homeowners and even more people joining the others in not paying. Moral hazard out the window.[/quote]

You are looking at the old banking model which no longer exists.

Banks have not held mortgages for the last two decades.

Loan servicers are no more eager to foreclose than a property manager is save you maintenance on your property. The name of game is the fees that they can charge for the servicing (and during the boom, the commission they could generate for the origination of the loans).

[briansd1]

[quote=jpinpb]
And I am of the belief that banks are in business to make money and were there no bailout, they would be eager to foreclose and sell the house to get somone in there who would pay. Rather than that happening, bailouts to banks and homeowners and even more people joining the others in not paying. Moral hazard out the window.[/quote]

You are looking at the old banking model which no longer exists.

Banks have not held mortgages for the last two decades.

Loan servicers are no more eager to foreclose than a property manager is save you maintenance on your property. The name of game is the fees that they can charge for the servicing (and during the boom, the commission they could generate for the origination of the loans).

[Author]

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