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If banks can not behave in moral manner why should people be expected to behave in moral manner? random thoughts Send a noteboard - 12/10/2010 08:07:56 PM
I am not trying to argue with just examining the issue. Like I said I don't know the answers the question and I think it is a very complicated issue.

I could be argued that the people paying loans on home that is worth less than the value of the loan are being harmed. It could also be argued that the banks are fault for the current housing crisis so they were in effect harmed by the unethical behavior of the same organizations they are now being told they must behave in moral manner towards.

Or to be less wordy, the banks screwed things up now want everyone else to place nice and keep paying.
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Is walking away from a mortgage immoral? random thoughts - 12/10/2010 04:45:43 PM 1627 Views
Just as a contract is a two way street - SilverWarder - 12/10/2010 05:12:09 PM 1096 Views
do we have a moral obligation to society? random thoughts - 12/10/2010 06:00:17 PM 1090 Views
It's a good question SilverWarder - 14/10/2010 02:41:21 AM 997 Views
Sort of have to disagree... Antigone - 13/10/2010 02:52:07 AM 1060 Views
That's not true actually SilverWarder - 14/10/2010 02:35:43 AM 984 Views
Of course it's immoral. Sareitha Sedai - 12/10/2010 05:13:16 PM 1060 Views
But does one sided morality work? random thoughts - 12/10/2010 05:38:56 PM 1176 Views
You asked about the morality of walking away when the borrower still has the ability to pay. Sareitha Sedai - 12/10/2010 07:31:10 PM 973 Views
A company or organization cannot act morally or immorally? I strongly disagree. *NM* Legolas - 12/10/2010 07:50:42 PM 481 Views
No, it cannot. However the individuals making the decisions for the company can. *NM* Cannoli - 12/10/2010 08:48:23 PM 424 Views
If banks can not behave in moral manner why should people be expected to behave in moral manner? random thoughts - 12/10/2010 08:07:56 PM 1051 Views
I'm not absolved of my obligations based on the bad behaviors of others. Sareitha Sedai - 12/10/2010 08:25:33 PM 957 Views
but who you owe obligations to is a factor random thoughts - 12/10/2010 09:03:04 PM 1026 Views
Because it's their moral obligation. Morality is not a trade, you act morally because it is right Cannoli - 12/10/2010 08:47:41 PM 1157 Views
you also use reason and logic to decide where your loyalty rest random thoughts - 12/10/2010 09:16:51 PM 1070 Views
You have not explained how it IS the banks' fault Cannoli - 15/10/2010 01:30:10 PM 1120 Views
That's the only kind of morality there is! What the hell is wrong with you? Cannoli - 12/10/2010 08:15:55 PM 1019 Views
nothing wrong with me but I think you are off your meds again random thoughts - 12/10/2010 09:34:33 PM 1003 Views
Re: nothing wrong with me but I think you are off your meds again Cannoli - 15/10/2010 02:50:49 PM 1505 Views
well I really can't argue with the wrong is wrong end of story belief system random thoughts - 15/10/2010 05:40:22 PM 1206 Views
A contract isn't a promise; it's a legal agreement. *NM* Ghavrel - 12/10/2010 06:25:24 PM 494 Views
Which is why contracts have to be pages and pages long and combed over by bloodsucking lawyers. LiterateDog - 12/10/2010 06:39:18 PM 1034 Views
I would agree with you if contracts didn't provide for breaking them. Ghavrel - 12/10/2010 07:33:15 PM 887 Views
Hrm. Sareitha Sedai - 12/10/2010 07:35:38 PM 1119 Views
did you take a personal oath in front of god and your loved ones to pay the loan back? *NM* random thoughts - 12/10/2010 08:09:07 PM 493 Views
Let's assume we're talking about a marriage where no such oath was taken... *NM* Sareitha Sedai - 12/10/2010 08:10:54 PM 505 Views
if there is no oath of fidelity then straying would not be immoral *NM* random thoughts - 12/10/2010 08:40:53 PM 471 Views
It's not immoral to break the marriage contract. Ghavrel - 12/10/2010 08:19:50 PM 1156 Views
I don't see that as the flaw in my logic. Sareitha Sedai - 12/10/2010 08:37:52 PM 1059 Views
Re: I don't see that as the flaw in my logic. Ghavrel - 12/10/2010 09:00:00 PM 1145 Views
also random thoughts - 12/10/2010 09:37:38 PM 1009 Views
That makes no sense whatsoever. Tim - 13/10/2010 11:38:06 PM 1152 Views
That must be why they have you sign something called an agreementory note *NM* Sareitha Sedai - 12/10/2010 07:33:32 PM 529 Views
Exactly *NM* Cannoli - 12/10/2010 07:58:25 PM 479 Views
So, you think bankruptcy laws are immoral? everynametaken - 13/10/2010 12:18:43 AM 1043 Views
I don't think it's immoral at all. The contract usually specifies penalties for breach. Tom - 12/10/2010 05:28:34 PM 1140 Views
I thought the answer might be something like that. *NM* Rebekah - 12/10/2010 05:35:35 PM 471 Views
that is close to the way I see it random thoughts - 12/10/2010 05:45:25 PM 997 Views
It's both legal and immoral. LiterateDog - 12/10/2010 06:37:49 PM 1106 Views
You didn't mention the third party Roland00 - 12/10/2010 08:26:56 PM 922 Views
in a way I did since I did mention society random thoughts - 12/10/2010 08:54:07 PM 1066 Views
Thus the edit Roland00 - 12/10/2010 09:10:53 PM 1083 Views
either way I think you made a good point *NM* random thoughts - 12/10/2010 09:38:58 PM 454 Views
will those neighbors... damookster - 14/10/2010 04:52:26 AM 1245 Views
All depends where you get your morals from, really. Nebhead - 12/10/2010 08:28:41 PM 1062 Views
I guess what i was trying to ask, at least in part random thoughts - 12/10/2010 09:48:24 PM 1069 Views
What if you look at it from the other perspective? Sareitha Sedai - 12/10/2010 09:00:20 PM 1103 Views
do you think they would if they had a legal way to do it? random thoughts - 12/10/2010 10:04:57 PM 1047 Views
Good point. *NM* Tashmere - 12/10/2010 11:10:26 PM 478 Views
Sure, you could do that. Aeryn - 13/10/2010 01:54:55 AM 1082 Views
The problem is that you're buying something today and paying for it for the next 15/30/50 years. Sareitha Sedai - 13/10/2010 03:04:26 PM 983 Views
Much like the concept of morality itself. Gaps - 12/10/2010 11:47:23 PM 987 Views
I find this line particularly interesting. everynametaken - 13/10/2010 12:13:18 AM 1029 Views
Dunno. nossy - 13/10/2010 12:56:56 AM 1135 Views
As a professional in financial services - no, it is not. Aeryn - 13/10/2010 01:44:18 AM 1025 Views
but almost nobody sees it that way random thoughts - 13/10/2010 12:53:25 PM 1022 Views
Is the deal that if you default, the bank gets the house and nothing else, though? Legolas - 13/10/2010 02:40:48 PM 1010 Views
yes but the bank has a limited ability to collect random thoughts - 13/10/2010 02:47:34 PM 940 Views
I think it's morally wrong to walk away from credit card debt. *NM* Aeryn - 13/10/2010 09:43:11 PM 468 Views
I'm curious how you reconcile that Sareitha Sedai - 13/10/2010 09:47:59 PM 1064 Views
Collateral Aeryn - 19/10/2010 07:21:14 PM 1542 Views
I agree, what do you think is different? random thoughts - 13/10/2010 09:59:36 PM 1033 Views
The difference is that the bank owns the house. Whereas when I buy stuff, it's mine. *NM* Aeryn - 19/10/2010 07:05:34 PM 467 Views
I too am unable to work out what distinguishes the two situations. Tim - 13/10/2010 11:54:15 PM 973 Views
I lost sleep over it, but I did it anyway. John - 13/10/2010 05:24:19 AM 1120 Views
OK what if you take it a step further random thoughts - 13/10/2010 03:44:30 PM 1125 Views
Good question John - 14/10/2010 05:13:41 AM 1097 Views
I have some questions about this issue. MightyYT - 13/10/2010 08:14:37 AM 1036 Views
how do those questions affect the morality of the situation? random thoughts - 13/10/2010 03:20:14 PM 987 Views
Obviously, the essential difference is can't pay versus won't pay. Elaine - 13/10/2010 02:16:07 PM 1008 Views
are you socializing your debt when it is a private bank? random thoughts - 13/10/2010 03:14:48 PM 1069 Views
You are when said bank requires a bailout. And very many of them do. Elaine - 13/10/2010 03:22:59 PM 999 Views
it is the home fault that the banks have to be bailed out random thoughts - 13/10/2010 03:49:37 PM 1054 Views
I believe it immoral to do harm. Macharius - 13/10/2010 04:38:28 PM 1075 Views
I really don't understand a system where this could be an advantage. Tim - 13/10/2010 11:16:57 PM 1022 Views
There's generally something like a 7 or 10 year limit on credit reporting here. LiterateDog - 13/10/2010 11:46:58 PM 1048 Views
What's the use of suing someone who has no money? *NM* Tim - 13/10/2010 11:48:47 PM 533 Views
You can garnish their wages. LiterateDog - 13/10/2010 11:49:36 PM 1027 Views
With parsley? Rebekah - 13/10/2010 11:51:37 PM 1094 Views
No, "someone" most certainly did not, wicked young Miss! Hmph! *NM* LiterateDog - 13/10/2010 11:52:40 PM 516 Views
If they suddenly come into some, you're entitled to it. *NM* TaskmasterJack - 14/10/2010 12:07:34 AM 592 Views
Bit of a long shot. *NM* Tim - 14/10/2010 12:09:12 AM 470 Views
Very. Best to cover your bases though. *NM* TaskmasterJack - 14/10/2010 10:04:25 PM 489 Views
Not if the doctrine of election applies. Tim - 14/10/2010 10:14:07 PM 1004 Views
Are we not talking about credit companies going after people who owe them money? TaskmasterJack - 14/10/2010 10:18:47 PM 1050 Views
Yeah, I guess we are. Tim - 14/10/2010 10:28:40 PM 1073 Views
Re: Gaps - 14/10/2010 03:09:18 AM 1041 Views
I am currently in that situation... damookster - 14/10/2010 05:03:23 AM 1134 Views
In Washington you can contest the assessed value used to determine property taxes. Vodalus - 14/10/2010 07:27:02 AM 1065 Views
Re: I am currently in that situation... Macharius - 14/10/2010 05:49:24 PM 1368 Views
it is easy for me and others to be glib when it is just a theory *NM* random thoughts - 14/10/2010 08:19:16 PM 471 Views
If you have the ability to pay, I would consider it yet another immoral act in an immoral industry. Joel - 14/10/2010 07:49:38 AM 1069 Views
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