tag:blogger.com,1999:blog-4048186698864359724.post5111545105017050151..comments2024-01-09T02:22:47.782-08:00Comments on Sometimes I'm Actually Coherent: A Clearly Written Account of the Financial MessTimothy Powerhttp://www.blogger.com/profile/06081922327870257027noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4048186698864359724.post-64722314316321380682008-10-14T09:25:00.000-07:002008-10-14T09:25:00.000-07:00I know several highly educated, fairly affluent, C...I know several highly educated, fairly affluent, Caucasians who are in financial trouble now because they used these kinds of gimmicky mortgages to either purchase houses they couldn't really afford or to refinance & cash out equity in order to spend it on luxuries. My godfather is a <I>business school professor</I> and is upside-down on a house that he bought more than 15 years ago (!) because he treated it like a piggybank during the boom. <BR/><BR/>I have sympathy for people who are losing their houses because of unforeseen circumstances like unemployment, serious illness/injury, divorce, etc. I do NOT feel any sympathy for all those who are in trouble because they were greedy and/or stupid.Crimson Wifehttps://www.blogger.com/profile/03254830856234479999noreply@blogger.com