Sunday, February 6, 2011

MSNBC's Dylan Ratigan: Why pay the bank? Mortgage Isn't a Life Sentence

Some key points here are that the free market system itself presupposes as a moral tenet that each party will act out of their own self interest. Thus, homeowners action out of their self interest are acting morally. Also, stopping payments and giving back the collateral were part of the original deal with the bank, so there is nothing wrong with doing that.

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