Jordan wrote:
>Doug said it was because these people "didn't know
>what they were thinking" and that they were "nuts"
>to be buying houses and running up huge credit card
>bills!
The article doesn't speak at all to the earlier argument re: wacky mortgages. But just imagine someone neg-amorted took sick as depicted in the piece. Not only are you massively exposed and dependent on ever-ballooning housing prices, but you have to walk a pretty fucking slim tightrope, going through life without illness, arrest or any other routine pitfall.
What a disturbingly stark model: don't get sick lest you fail to service your debt, the end result of which is your bankruptcy and impaired ability to secure the future credit upon which we are all increasingly dependent.
I can accept and even admire your libertarianism but you cannot possibly think we're onto something good here, can you?
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