Comments on: Banks May Rescue Defaulting Homeowners http://advancedpersonalfinance.com/banks-may-rescue-defaulting-homeowners-guest-post-for-nickel/ Moving beyond the basics Mon, 01 Dec 2008 23:33:15 +0000 http://wordpress.org/?v=2.2.2 By: Micah http://advancedpersonalfinance.com/banks-may-rescue-defaulting-homeowners-guest-post-for-nickel/#comment-302 Micah Mon, 02 Jul 2007 16:58:30 +0000 http://advancedpersonalfinance.com/banks-may-rescue-defaulting-homeowners-guest-post-for-nickel/#comment-302 Smart move by the banks. Even if there was a regulatory body, as long as they're controlled or appointed by elected officials, they're going to side with the little guy losing his house over the big bad hedge fund anyway. But that's not to say that they should! Changing the rules during the game to help out the people that are losing at the expense of those who are winning stinks! Well, unless you are an economist, in which case you might say that laws should just keep the poor above water (so they can spend) and that the rich will continue to make the right moves and spend the same amount so that they end up saving less (thus keeping the economy growing). Smart move by the banks. Even if there was a regulatory body, as long as they’re controlled or appointed by elected officials, they’re going to side with the little guy losing his house over the big bad hedge fund anyway.

But that’s not to say that they should! Changing the rules during the game to help out the people that are losing at the expense of those who are winning stinks! Well, unless you are an economist, in which case you might say that laws should just keep the poor above water (so they can spend) and that the rich will continue to make the right moves and spend the same amount so that they end up saving less (thus keeping the economy growing).

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