Mce SaintPremium
join:2007-10-03
Saint Louis, MO Reviews:
 ·AT&T U-Verse
| reply to KrK
Re: Good news I guess? quote:
Imagine you could just call up your bank and say "By the power vested in me, by myself, for myself, effective this date, I owe you nothing, I'm keeping the house, car, land and all contents, and I get full deeds. See ya, wouldn't wanna be ya." Oh and with no penalties to boot. No credit damage.
Nice story. Except that for secured creditors it doesn't work like this. |
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 KrKHeavy Artillery For The Little GuyPremium
join:2000-01-17
Tulsa, OK
 ·AT&T DSL Service
| said by Mce Saint:Nice story. Except that for secured creditors it doesn't work like this. Yeah, but stockholders aren't typically secured creditors.
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"Fascism should more properly be called corporatism because it is the merger of state and corporate power." -- Benito Mussolini
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Mce SaintPremium
join:2007-10-03
Saint Louis, MO | But banks - to which the poster was referring - usually are. |
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KrKHeavy Artillery For The Little GuyPremium
join:2000-01-17
Tulsa, OK Reviews:
·AT&T DSL Service
| Read the post again, all he says is he doubts they'll be able to lower the debt by 8 billion, and I reply yes they will, they're wiping out the stockholders.
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"Fascism should more properly be called corporatism because it is the merger of state and corporate power." -- Benito Mussolini
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