Originally Posted by
Carl Spackler
I agree. However, the only financial fraud in this is people signing a promissory note (mortgage), then refusing to uphold the terms of the contract they signed and walking away. But nobody is being prosecuted for this.
Carl
And the banks have no responsibility in lending hundreds of thousands to people who would never make that much money in their lifetime? There are penalties for walking away from the agreement. Credit is toast, but you can keep living and get out of a debt that wouldn't have been there without the crash.