ST Alpha - "You don't feel that the institution with hundreds, if not thousands, of employees and far more capital has a tad more leverage and thus more" (Reading a Post)

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In response to "Until someone forces me to sign that deal, it's equally on me." by Will Hunting

You don't feel that the institution with hundreds, if not thousands, of employees and far more capital has a tad more leverage and thus more

Posted by musubi Jun 23 '10, 15:25

responsibility?

Don't get me wrong, I'm not saying loan holders should get to walk away scott free, but homeowners only get to refi at their whim because there are other lenders who realize what a great deal the bank is getting.

Responses:

No. I believe my life, my home, my money....I have a far bigger responsibility to my own economic situation - Will Hunting Jun 23, 15:29 11
- so if i read the contract in a way that you think is unfair you'll still - lafarrow Jun 23, 15:33 2
  - What's unfair about on the 1st of each month, you'll pay $$$ for this property that as of Date has $$$ value. - Will Hunting Jun 23, 15:36 1
    - Except the banks crashed the market by loaning to people that couldn't pay, and the honest people are supposed to pay on a devalued property. - Redmond Jun 23, 15:46
- I should clarify, this is not specific to those who walk away from loans they have the ability to pay. - musubi Jun 23, 15:33 7
  - I think lenders should make the wisest decisions for their interests. - Will Hunting Jun 23, 15:34 6
    - Therein lies the rub. As the big guy who has little to lose (and can absorb many bad mortages) shouldn't the onus be there to do the rigth thing? - musubi Jun 23, 15:40 4
      - If it weren't for market regulations, they would operate the same as loan sharks for maximum shareholder revenue. -- nm - Beryllium Jun 23, 15:41 3
        
        (And, frankly, this is exactly what they did, and exactly what caused the collapse) -- nm - Beryllium Jun 23, 15:43 2
        
        Yup. And as corporations there's no "personal responsibilty" to scold them about. - musubi Jun 23, 15:44 1
        
        Well they should be going to jail but that isn't going to happen. Lie Steal Cheat and be rich with no risk of prison. -- nm - Redmond Jun 23, 15:54
    - they don't really have a good track record for this. -- nm - Beryllium Jun 23, 15:37

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You don't feel that the institution with hundreds, if not thousands, of employees and far more capital has a tad more leverage and thus more

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