tag:blogger.com,1999:blog-7642929222753173260.post8563168019559755640..comments2023-08-12T02:43:38.927-05:00Comments on Free Market: Home on the rangeFreeMarkethttp://www.blogger.com/profile/12640525471233108791noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7642929222753173260.post-18849049954205684122008-07-31T06:51:00.000-05:002008-07-31T06:51:00.000-05:00Worse still is the fact that people with negative ...Worse still is the fact that people with negative equity think walking away resolves their own responsibility, but actually they owe taxes on the amount the bank forgave when the property was resold at less than the mortgage. <BR/><BR/>Yes anon, it is very much a product of crazy actions based on a crazy culture that thinks everyone should live like a celebrity.<BR/><BR/>But either way, those of us who were responsible will be affected --if we don't bail them out, the economy/financial institutions represent a large domino toppling in the economic path, and if we do bail them out, well, there goes our tax contribution.<BR/><BR/>You could've set a watch to this mess - some saw it coming years ago, hardly rocket science.Anonymousnoreply@blogger.com