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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (30439)	3/28/2008 4:41:09 PM
From: Oblomov	Read Replies (1) of 78751

If one is better off walking away than sucking it up and paying a mortgage on a depreciating asset, why not walk away? The government bails out investment banks when they commit errors of judgement, while profits are privatized. A politician can leave office after having made costly errors with no personal liability. A CEO can screw up a company and destroy shareholder value and get a $100MM termination bonus and a pension. A popular music star can drunkenly crash into a utility pole, yet escape jail and be applauded for her "bravery" in rehab. A murderer is freed because his skin color matches that of his jury. All of these things are tolerated and condoned in the twilight of our culture, and yet you expect the office worker to stoically pay off the mortgage on his value-plummeting house? Perhaps Nietzsche was right, and tradition imposes a "slave morality" on the masses, while the elite help themselves to life's bounty.

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