Comments on: Rewarding the Reckless, Pushing America Toward Insolvency http://dangillmor.com/2007/12/05/rewarding-the-reckless-pushing-america-toward-insolvency/ Wed, 17 Aug 2011 11:20:33 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: jonathan Peterson http://dangillmor.com/2007/12/05/rewarding-the-reckless-pushing-america-toward-insolvency/comment-page-1/#comment-358 jonathan Peterson Thu, 06 Dec 2007 19:56:01 +0000 http://dangillmor.com/blog/2007/12/05/rewarding-the-reckless-pushing-america-toward-insolvency/#comment-358 We just came back from vacation in st. martin. In the 4 years since we were there last the exchange rate has gone from $1 = 1.5 EU to $1.5 = 1 EU. I'm thinking turning my paychecks into euros after bills are paid might be a sound investment strategy. We just came back from vacation in st. martin. In the 4 years since we were there last the exchange rate has gone from $1 = 1.5 EU to $1.5 = 1 EU.

I’m thinking turning my paychecks into euros after bills are paid might be a sound investment strategy.

]]> By: Dan Gillmor http://dangillmor.com/2007/12/05/rewarding-the-reckless-pushing-america-toward-insolvency/comment-page-1/#comment-357 Dan Gillmor Thu, 06 Dec 2007 16:51:19 +0000 http://dangillmor.com/blog/2007/12/05/rewarding-the-reckless-pushing-america-toward-insolvency/#comment-357 The WA approach actually makes sense to me, though it'll just postpone some pain in several ways. BTW I can't remember if you were among the people loudly proclaiming how wrong I was to suggest that there was a bubble in the first place... The WA approach actually makes sense to me, though it’ll just postpone some pain in several ways.

BTW I can’t remember if you were among the people loudly proclaiming how wrong I was to suggest that there was a bubble in the first place…

]]> By: Joe http://dangillmor.com/2007/12/05/rewarding-the-reckless-pushing-america-toward-insolvency/comment-page-1/#comment-353 Joe Wed, 05 Dec 2007 23:22:30 +0000 http://dangillmor.com/blog/2007/12/05/rewarding-the-reckless-pushing-america-toward-insolvency/#comment-353 Oh one other interesting note. I live in WA state and our legislature just passed a law to help subprime market by allowing the home owner to defer their property tax (not pay it) to reduce their payment sometimes by $100's per month BUT the State will collect 7% interest on this while the home owner lives in the home and will collect the balance owed when the house is sold. Nothing like the State putting a lien on your home!! Crazy and expensive. Oh one other interesting note. I live in WA state and our legislature just passed a law to help subprime market by allowing the home owner to defer their property tax (not pay it) to reduce their payment sometimes by $100′s per month BUT the State will collect 7% interest on this while the home owner lives in the home and will collect the balance owed when the house is sold. Nothing like the State putting a lien on your home!! Crazy and expensive.

]]> By: Joe http://dangillmor.com/2007/12/05/rewarding-the-reckless-pushing-america-toward-insolvency/comment-page-1/#comment-351 Joe Wed, 05 Dec 2007 23:18:37 +0000 http://dangillmor.com/blog/2007/12/05/rewarding-the-reckless-pushing-america-toward-insolvency/#comment-351 Dan, I've followed your comments on this subject for years and on the last site you used to blog on I commented that the government will bail these people out at the tax payers expense and at the expense of future borrowers who will pay a risk premium. This is always what happens. If enough people do something stupid and enough money is on the line at the big banks/investors etc....the government will bail you out. Always has happened, always will. Dan, I’ve followed your comments on this subject for years and on the last site you used to blog on I commented that the government will bail these people out at the tax payers expense and at the expense of future borrowers who will pay a risk premium.

This is always what happens. If enough people do something stupid and enough money is on the line at the big banks/investors etc….the government will bail you out. Always has happened, always will.

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