Revolutionary response to home forclosure

[Bruce Clemens]

Magda, I hope my response to this hasn't upset you...I do understand and appreciate your points here. I am no banker nor a capitalist however, I have used banks and willingly signed the papers that allowed me to, over time, own vehicles that I would not otherwise be able to own and live in houses that I would not otherwise be able to live in.

When I signed the papers I understood that I was entering in to an agreement where I would have to pay back something like 300% of the actual price and I understood that if I was even a day late on the required installment, the bank had the legal "right" to take back the vehicle or kick me out of the house. Yet I agreed anyway.

David, Erik, your points are well taken as well. But there is no way it would exist at all if it were a "fair" system. Casinos wouldn't exist if they operated under a "fair" system. Governments are the same way. Nothing "fair" there.

I am free to live without using banks and their unfair system, and so was Terry Hoskins. But if I chose not to, I must choose a different way of life. There are many people who live not far from me in the rural midwest USA who do just that. You see trailers, shacks and even relatively nice homes in these areas that are being built piecemeal as the individual can afford to. (with the caviat that even though they may owe no one for what they have, if they don't pay the government -imposed annual property tax just for the privilege of "owning" their own land, the government, not the banks, will take it away)

Apparently Mr. Hoskins did not opt for that kind of lifestyle. Instead he opted to sign the promissory notes where he agreed to the unfair terms and then when the going got rough, decided to change the terms on his own. To me, that is not honorable.

I much more respect the person who says he or she won't enter into the agreement in the first place and adjusts his lifestyle accordingly, as those folks whom I mentioned living out in the country are doing.

I am as angry (I think ) as you are about the banks and what they have done in collusion with our government. I agree- they changed the rules too. They are not honorable. And I work hard and make my promised payments to them none the less.

I would appreciate your input as to what a good alternative would be to this whole system. Because the only other thing that seems to be on offer elsewhere in the world is a state-controlled economy where everyone gets a decent chance at achieving mediocrity. Gray state-owned high rise housing units come to mind here. And government assigned jobs. And a very dull kind of existence.

Thanks for the discussion.