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that the banks bear a heavy burden of responsibility and deserve to lose some money, I can't accept the lazy arguments that people were conned into buying houses. They were willing gamblers, and they certainly took the "wins" if they were lucky.

Now, if you are additionally lucky that mortgages are non-recourse to you, there is a very rational argument to default, but it's still a breach of a commitment you took so it does fall into the "cheating" category crankykarsten describes.

Wind power

by Jerome a Paris (etg@eurotrib.com) on Tue Aug 24th, 2010 at 06:16:00 PM EST
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