question of ethics

Posted: February 26, 2011 in Uncategorized

If the mortgage company that lent you the money to buy your house is also complicit in the crash that caused your house to lose half of its value, do you have an obligation to pay them the full amount you borrowed?

If I borrowed $20,000 to buy a car and the guy who lent me the money crashed into my car making it worth only $10,000, do I still owe him $20,000?

You know what, I don’t think so.
In a financial system this corrupt, I don’t think I could judge anyone for doing whatever they thought was right.

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Comments
  1. Joel says:

    Yes, but how to do it without destroying ones credit. That is the question. At least until good credit no longer matters when having to provide shelter for ones family. Riddle me this one.

    • I’m only posing a question. I don’t have the answer to it, let alone the application to applying the answer.

      • Joel says:

        Nor would I expect you to. I was just thinking out loud. I suppose I could abandon the bank’s house and begin camping if I so really desired. Haven’t thought through all those repercussions though.

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