Mce Saint
join:2007-10-03
Saint Louis, MO
 ·AT&T Midwest
 ·Sprint Mobile Broa..
| 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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KrK
Heavy Artillery For The Little Guy
Premium
join:2000-01-17
Tulsa, OK
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| 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 Saint
join:2007-10-03
Saint Louis, MO | But banks - to which the poster was referring - usually are. |
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KrK
Heavy Artillery For The Little Guy
Premium
join:2000-01-17
Tulsa, OK
·AT&T Yahoo
·AT&T DSL Service
·Cox HSI
·AT&T Southwest
| 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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