FactFinder
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- Mar 1, 2009
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Of course it was their property. The borrowers who were in default had a choice to return the money they took, or trade that for their home.Since when is it amoral to demand that your property be returned to you?
It wasn't their property any more. They sliced and diced it into so many financial instruments they didn't have clue who owned it anymore. Sold it and resold it again. Made such a mockery of the financial system. It nearly collapsed except we had to unwillingly shoulder the burden. So the proeprty is our property and I vote to give it back to the occupants.
Stealing is amoral, and the borrowers in default were stealing. Now YOU want to steal stolen property. That also is amoral.
The property was negotiated in less than fair faith. Valuations were trumped up and false. The baloon payments and ARM's were trumped to be unattainable by any reasonable standard. It was a simple matter of wolves feeding on sheep. Absolutely, totally immoral. The wolves should pay not the sheep.