Courson CEO of Mortgage Banker's Ass'n: morally wrong to default mortgages

[Windpower]

John Courson says it is morally wrong to "strategically default" on your mortgage.

"Everyone wants to avoid that foreclosure and to keep that loan on the books and keep the borrower in the home"

http://dailybail.com/home/must-see-bust-mortgage-bankers-association-strategic-default.html

[archimedes]

Jon Stewart makes me laugh.   

[waggin]

Puts things in perspective, doesn't it?

[cbc58]

I used to own a mortgage company but got out in 2003 before all this mess started.  I could not bring myself to do loans for people who just couldn't afford it and most everyone had dual income qualification and very little savings.  All those nice cars you see people driving are leased or financed and the majority of people have very little savings.  This whole mortgage mess is wall streets doing and they should get put in the slammer - they have no regrets.  Go after their personal assets.

I think it's wrong to default on a contract but if the system wasn't fair to begin with then that's another story.  This is not a free market democratic system as so many would have us beleive and things will get ALOT more painful once the fed's credit card max's out.