-----Original message----- From: Bruce Johnson [email protected] Date: Thu, 17 Dec 2009 20:15:27 -0800 To: StrataList off StrataList off topic [email protected] Subject: [Stratalist-ot] When it's human people walking away...
> ...from their mortgages they're reviled as immoral, thieves and worse. > A respected economist who says it make good financial self-interest > for such homeowners to do soin some cases is castigated as worse than > a seal-clubbing hitler. > > <http://tinyurl.com/ya3488g> > <http://tinyurl.com/y8oub8w> > > "Lewis Ranieri, CEO of several major mortgage-related companies and > one of the pioneers of the mortgage-securities industry, called > White's entire argument "incredibly irresponsible and misinformed." > Not only is the professor urging consumers to break legally binding > contracts, said Ranieri, but if large numbers did so it would send > home mortgage rates soaring and "tear apart the very basis" upon which > mortgage lending rests — the understanding that borrowers will honor > their commitments and pay back the money they borrowed." > > But hey, it's just 'bidness as usual' when a corporate person does it. > > <http://tinyurl.com/yazhbm3> > > Orwell was right..some people ARE more equal than others... > You must love what the IRS did recently: <http://tinyurl.com/y8rvm8h> As for people walking away from their mortgages, there are times when they should. Wherever you stand on the issue, I wouldn't advocate any legislation to address issue. I would rather see folks refuse to move from their homes and sheriff's departments across the country refuse to act on foreclosure evictions. I'd rather see banks go under, including those the CRA forced into lending to lousy creditors, than scores more families losing their homes. Francis Drouillard -- You received this message because you are subscribed to the Google Groups "StrataList-OT" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/stratalist-ot?hl=en.
