[TheBreeze]

One theory is that as people walk away from their homes (and mortgage payments) they rent a cheaper place and actually have more money to spend on other stuff. People aren’t losing their jobs yet, they’re just walking away from their mortgages. However, my guess is that this effect will be more than canceled out by the sharp reduction in HELOC money.

[TheBreeze]

One theory is that as people walk away from their homes (and mortgage payments) they rent a cheaper place and actually have more money to spend on other stuff. People aren’t losing their jobs yet, they’re just walking away from their mortgages. However, my guess is that this effect will be more than canceled out by the sharp reduction in HELOC money.

[TheBreeze]

One theory is that as people walk away from their homes (and mortgage payments) they rent a cheaper place and actually have more money to spend on other stuff. People aren’t losing their jobs yet, they’re just walking away from their mortgages. However, my guess is that this effect will be more than canceled out by the sharp reduction in HELOC money.

[TheBreeze]

One theory is that as people walk away from their homes (and mortgage payments) they rent a cheaper place and actually have more money to spend on other stuff. People aren’t losing their jobs yet, they’re just walking away from their mortgages. However, my guess is that this effect will be more than canceled out by the sharp reduction in HELOC money.

[TheBreeze]

One theory is that as people walk away from their homes (and mortgage payments) they rent a cheaper place and actually have more money to spend on other stuff. People aren’t losing their jobs yet, they’re just walking away from their mortgages. However, my guess is that this effect will be more than canceled out by the sharp reduction in HELOC money.

[TheBreeze]

Several weeks back myself and my engineering staff were laid off …

Kewp – Besides my job job I have 3 small businesses.

SD R,

Am I supposed to feel sorry for you and your ilk or marvel at what a masterful entrepreneur you are? Good grief. Either just break down and cry or assert your capitalistic dominance. Trying to do both in one post is a bit much.

Oh, and I’m supposed to feel sorry for laid off engineers? Did these laid-off engineers save during the good times or did they go in debt for million dollar homes and hummers? Are they now walking away from their obligations? I know some engineers and their salaries are usually pretty darn good. If they save during the good times, they’ll be fine during the down times.

I find it difficult to feel sorry for American citizens ever. There’s tons of opportunity in this country if people are just willing to sacrifice a bit. Most don’t though. And then they whine about how cruel and unfair the world is. Waaah.

[TheBreeze]

Several weeks back myself and my engineering staff were laid off …

Kewp – Besides my job job I have 3 small businesses.

SD R,

Am I supposed to feel sorry for you and your ilk or marvel at what a masterful entrepreneur you are? Good grief. Either just break down and cry or assert your capitalistic dominance. Trying to do both in one post is a bit much.

Oh, and I’m supposed to feel sorry for laid off engineers? Did these laid-off engineers save during the good times or did they go in debt for million dollar homes and hummers? Are they now walking away from their obligations? I know some engineers and their salaries are usually pretty darn good. If they save during the good times, they’ll be fine during the down times.

I find it difficult to feel sorry for American citizens ever. There’s tons of opportunity in this country if people are just willing to sacrifice a bit. Most don’t though. And then they whine about how cruel and unfair the world is. Waaah.

[TheBreeze]

Several weeks back myself and my engineering staff were laid off …

Kewp – Besides my job job I have 3 small businesses.

SD R,

Am I supposed to feel sorry for you and your ilk or marvel at what a masterful entrepreneur you are? Good grief. Either just break down and cry or assert your capitalistic dominance. Trying to do both in one post is a bit much.

Oh, and I’m supposed to feel sorry for laid off engineers? Did these laid-off engineers save during the good times or did they go in debt for million dollar homes and hummers? Are they now walking away from their obligations? I know some engineers and their salaries are usually pretty darn good. If they save during the good times, they’ll be fine during the down times.

I find it difficult to feel sorry for American citizens ever. There’s tons of opportunity in this country if people are just willing to sacrifice a bit. Most don’t though. And then they whine about how cruel and unfair the world is. Waaah.

[TheBreeze]

Several weeks back myself and my engineering staff were laid off …

Kewp – Besides my job job I have 3 small businesses.

SD R,

Am I supposed to feel sorry for you and your ilk or marvel at what a masterful entrepreneur you are? Good grief. Either just break down and cry or assert your capitalistic dominance. Trying to do both in one post is a bit much.

Oh, and I’m supposed to feel sorry for laid off engineers? Did these laid-off engineers save during the good times or did they go in debt for million dollar homes and hummers? Are they now walking away from their obligations? I know some engineers and their salaries are usually pretty darn good. If they save during the good times, they’ll be fine during the down times.

I find it difficult to feel sorry for American citizens ever. There’s tons of opportunity in this country if people are just willing to sacrifice a bit. Most don’t though. And then they whine about how cruel and unfair the world is. Waaah.

[TheBreeze]

Several weeks back myself and my engineering staff were laid off …

Kewp – Besides my job job I have 3 small businesses.

SD R,

Am I supposed to feel sorry for you and your ilk or marvel at what a masterful entrepreneur you are? Good grief. Either just break down and cry or assert your capitalistic dominance. Trying to do both in one post is a bit much.

Oh, and I’m supposed to feel sorry for laid off engineers? Did these laid-off engineers save during the good times or did they go in debt for million dollar homes and hummers? Are they now walking away from their obligations? I know some engineers and their salaries are usually pretty darn good. If they save during the good times, they’ll be fine during the down times.

I find it difficult to feel sorry for American citizens ever. There’s tons of opportunity in this country if people are just willing to sacrifice a bit. Most don’t though. And then they whine about how cruel and unfair the world is. Waaah.

[TheBreeze]

It continues to amaze me that people get all worked up when people make the very logical, very legal choice to walk away from houses they’re upside down of. They made no agreement not to do that and to act like they have some kind of moral obligation to the bank to make a stupid financial decision is just silly.

I wouldn’t get worked up if it were just private parties involved. But, in this case, the Federal Reserve loaned money (taxpayer funds) to the banks who in turn gave that money to borrowers through 100% no-doc no-income-needed loans. These loans were then packaged up and sold to government pension funds. Thus, it now looks like we are on the brink of a massive taxpayer-funded bailout.

If this were just some hedge fund giving money to home buyers with no income and the resultant mortgage were securitized and sold to some other hedge fund … well it’s likely no one would care. As it is, people tend to get a little PO’d when they think about their tax dollars going to fund some couple’s speculative home buying.

I’m actually on the fence about this. I know that walking away is the correct business decision for borrowers, but it steams me a bit to think that I will have to pay for it.

[TheBreeze]

It continues to amaze me that people get all worked up when people make the very logical, very legal choice to walk away from houses they’re upside down of. They made no agreement not to do that and to act like they have some kind of moral obligation to the bank to make a stupid financial decision is just silly.

I wouldn’t get worked up if it were just private parties involved. But, in this case, the Federal Reserve loaned money (taxpayer funds) to the banks who in turn gave that money to borrowers through 100% no-doc no-income-needed loans. These loans were then packaged up and sold to government pension funds. Thus, it now looks like we are on the brink of a massive taxpayer-funded bailout.

If this were just some hedge fund giving money to home buyers with no income and the resultant mortgage were securitized and sold to some other hedge fund … well it’s likely no one would care. As it is, people tend to get a little PO’d when they think about their tax dollars going to fund some couple’s speculative home buying.

I’m actually on the fence about this. I know that walking away is the correct business decision for borrowers, but it steams me a bit to think that I will have to pay for it.

[TheBreeze]

It continues to amaze me that people get all worked up when people make the very logical, very legal choice to walk away from houses they’re upside down of. They made no agreement not to do that and to act like they have some kind of moral obligation to the bank to make a stupid financial decision is just silly.

I wouldn’t get worked up if it were just private parties involved. But, in this case, the Federal Reserve loaned money (taxpayer funds) to the banks who in turn gave that money to borrowers through 100% no-doc no-income-needed loans. These loans were then packaged up and sold to government pension funds. Thus, it now looks like we are on the brink of a massive taxpayer-funded bailout.

If this were just some hedge fund giving money to home buyers with no income and the resultant mortgage were securitized and sold to some other hedge fund … well it’s likely no one would care. As it is, people tend to get a little PO’d when they think about their tax dollars going to fund some couple’s speculative home buying.

I’m actually on the fence about this. I know that walking away is the correct business decision for borrowers, but it steams me a bit to think that I will have to pay for it.

[TheBreeze]

It continues to amaze me that people get all worked up when people make the very logical, very legal choice to walk away from houses they’re upside down of. They made no agreement not to do that and to act like they have some kind of moral obligation to the bank to make a stupid financial decision is just silly.

I wouldn’t get worked up if it were just private parties involved. But, in this case, the Federal Reserve loaned money (taxpayer funds) to the banks who in turn gave that money to borrowers through 100% no-doc no-income-needed loans. These loans were then packaged up and sold to government pension funds. Thus, it now looks like we are on the brink of a massive taxpayer-funded bailout.

If this were just some hedge fund giving money to home buyers with no income and the resultant mortgage were securitized and sold to some other hedge fund … well it’s likely no one would care. As it is, people tend to get a little PO’d when they think about their tax dollars going to fund some couple’s speculative home buying.

I’m actually on the fence about this. I know that walking away is the correct business decision for borrowers, but it steams me a bit to think that I will have to pay for it.

[TheBreeze]

It continues to amaze me that people get all worked up when people make the very logical, very legal choice to walk away from houses they’re upside down of. They made no agreement not to do that and to act like they have some kind of moral obligation to the bank to make a stupid financial decision is just silly.

I wouldn’t get worked up if it were just private parties involved. But, in this case, the Federal Reserve loaned money (taxpayer funds) to the banks who in turn gave that money to borrowers through 100% no-doc no-income-needed loans. These loans were then packaged up and sold to government pension funds. Thus, it now looks like we are on the brink of a massive taxpayer-funded bailout.

If this were just some hedge fund giving money to home buyers with no income and the resultant mortgage were securitized and sold to some other hedge fund … well it’s likely no one would care. As it is, people tend to get a little PO’d when they think about their tax dollars going to fund some couple’s speculative home buying.

I’m actually on the fence about this. I know that walking away is the correct business decision for borrowers, but it steams me a bit to think that I will have to pay for it.

[Author]

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