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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (39723)10/18/2010 12:13:50 PM
From: Jurgis Bekepuris2 Recommendations  Read Replies (3) of 78741
 
OT.

Obviously "strategic default" is everyone's personal decision.

However, don't minimize the issue of morality. Teaching general population to renege on contracts, lie and steal is pretty easy. And then you end up with countries like Russia, Greece or half of "developing" world where crime and corruption is rampant because there are few consequences and it's the way to "get ahead". And turning around to get people to be moral again takes much longer and it's much harder. One of the reasons USA attracted me was that it was much more moral - and safe - society than Eastern Europe where I came from. Do we want to move in the wrong direction?

I do agree that corporations, businesses and rich should have the same consequences of reneging on their contracts, lying and stealing. However, the fact that they can get away with it should lead us to find ways to prevent it and not to encourage others to follow the lead of the crooked. :/
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