You Want the truth you can't handle the truth.

[RIJIMMY]

Originally Posted by spence

Oh lord, why do you go on these little idiological tantrums?

Just because something is bad (i.e. complete government control of your life) doesn't mean the opposite is good (i.e. complete lack of government control of your life).

Guess what? Companies are often corrupt, people are often stupid. If a little oversight by a 3rd party can help keep the system functioning we're probably all going to be better off for it.

-spence

you need to look at the extremes.
hmm, so where do you draw the line? What if I re-mortgage my house, max my credit cards so that I can invest in some new venture? Sholdnt I be allowed to take that risk?I need a 3rd party to approve that? What about stock purchases? Can I buy 200K in mutual funds? Does a 3rd party need to review that?
very slippery slope spence.

[spence]

Originally Posted by RIJIMMY

you need to look at the extremes.
hmm, so where do you draw the line? What if I re-mortgage my house, max my credit cards so that I can invest in some new venture? Sholdnt I be allowed to take that risk?I need a 3rd party to approve that? What about stock purchases? Can I buy 200K in mutual funds? Does a 3rd party need to review that?
very slippery slope spence.

Abortion and gun control are also slippery slope issues and we have legislation today that most people seem to be able to live with.

There's a big difference between a personal decision to enter or not enter a contract, and regulation to ensure the person issuing that contract is engaged in fair play.

You're mixing issues.

-spence

[RIJIMMY]

Originally Posted by spence

Abortion and gun control are also slippery slope issues and we have legislation today that most people seem to be able to live with.

There's a big difference between a personal decision to enter or not enter a contract, and regulation to ensure the person issuing that contract is engaged in fair play.

You're mixing issues.

-spence

fair play? ever watch a commerical? how many products deliver as promised? Ever had a Big Mac that looks ANYTHING like the picture?
My point - Im fine with regulation for fair play. However, you cant have a safety net on everything. Since when did buying a home become easy or safe? Its always been a risk. I really have no sympathy for the scenarios presented in the initial thread. You take a risk, you win or fail. I'll give you 10% of the people that are in mortgage trouble were just plain stupid or manipulated by lenders. The other 90% wanted more and were willing to bank on the market continuing to increase. They gambled, they lost. Such is business.