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Forum Post: pay your debts!

Posted 10 years ago on Dec. 17, 2011, 10:32 a.m. EST by agkaiser (2515) from Fredericksburg, TX
This content is user submitted and not an official statement

Banking and finance have fallen under the spell of predators, parasites and scavengers. Nowhere is this more evidenced than by the housing bubble. The derivatives frenzy that was based on inflated house prices, supplied the gas that led to the explosion and economic collapse. Yet our debt to the perpetrators of this fraud, which is where they invested the illicit profits and how they exacerbated their evil, is still considered just and honored as sacred. What kind of fools are we?



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[-] 2 points by demcapitalist (977) 10 years ago

"predators, parasites and scavengers" in other words wall street traders. Check out this law from 2005 http://syntheticassets.wordpress.com/2009/08/15/the-no-derivative-left-behind-act-of-2005-1-5/ it's the law that gives derivatives priority in a bankruptcy. An AIG bankruptcy would have put the payoffs on the CDS bets ahead of bondholders and just forget about all the thousands of policy holders. The casino wing of AIG or any of our banks has priority over your deposits or insurance policies or annuity funds or even bonds if your a serious investor in one of those companies.

[-] 1 points by forOWS (161) 10 years ago

Fuck paying debts. If the white-collar criminals on Wall Street and the banks are robbing American tax payers blind of BILLIONS of dollars why should I worry about a few thousand dollars?

[-] 0 points by MASTERdBATER2 (56) 10 years ago

YEAH! FUCK paying money that we borrowed. Its the banks fault for borrowing anything to deadbeats like us in the first place.

[-] 0 points by CriticalThinker (140) 10 years ago

because, forOWS, and don't take this personally, (I'm with you) they have the law on their side. Isn't that a nice, well thought out system?

[-] 1 points by CriticalThinker (140) 10 years ago

interesting vantage point .... if the gain was ill-gotten, should we be obligated to it?

[-] -1 points by necropaulis (491) 10 years ago

Yeah. these guys don't pay debt. They don't worry about it, because they either have nothing of real value(so suing them is pointless), or they do get their shit taken, and they still don't care because they can blame the "evil 1% that nobody can put a single name on" on their laziness/ throwing money around they don't have. The best way to stay out of debt is to (drumroll, please)........ Don't spend more than you have!!

[-] 1 points by agkaiser (2515) from Fredericksburg, TX 10 years ago

Dead Paul urban, Are you an uber investor parasite or just a wannabe libertarian dupe of conservative predators? Your twisted morality is tediously unimpressive in any case.

[-] 0 points by necropaulis (491) 10 years ago

How is not spending more than you have twisted?? Suing some people is pointless, because some people have no money. If you don't pay your debt, in some cases "they" will come take your stuff and auction it off. They sign a contract stating that good, bad, or indifferent, they will pay this money off. So if taking care of what you said you would is twisted, than I(as well as most others) am a lot more messed up than I thought.

I also do not live in an urban area.