Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Don't Ask Rambi -- Ignore unavailable to you. Want to Upgrade?

To: E who wrote (24914)	5/18/1999 11:37:00 PM
From: Ilaine	Read Replies (1) \| Respond to of 71178

In my opinion, humble or not, the social contract was torn to shreds when the lenders got together and decided that they didn't have to pay anything closely resembling fair market value to the owners, and the courts let them get away with it. The game isn't fair, and it's rigged on the side of the banks. Yeah, the money at an auction goes, in theory, to the owner, so it's the owner who is getting screwed. Except sometimes it's the owner who is bidding at the auction, through an agent. Then the lender is the one who is getting the shaft. I guess. On the other hand, it's still what a willing buyer will pay to a willing seller, isn't it? No one is forcing anyone to take the bid. They can reserve the right to reject low bids if they want to. Why don't they? Because they want to lowball the owner, and get pissed if the yahoos scoop up the property. IMHO.