Four weeks ago, I bought a grill on my credit card.
...I've since realized that our landlords have an old, broken grill that we might have been able to repair ...Meanwhile, I've discovered that I can't sell the grill for a profit, because Home Depot seems to have a large number of very similar grills in stock which they are willing to offer to buyers for a mere $200. For that matter, I can't even sell it for the value of the loan with which I financed it. The equity in my grill has dropped by about 50%. Given all that, I don't see why I should be required to pay back the credit card company...Hell, the dirty bastards may well have known that I was going to end up underwater on my grill loan. I don't see why I have any obligation to repay them.
This seems to me to be approximately the logic behind the people saying that folks who took out stupid loans don't have any sort of moral obligation whatsoever to make good their debts. The loan company didn't have your best interest at heart, the logic goes, so why should you take care of them at any cost to yourself?
Monday, March 09, 2009
A National Grill Rescue Plan
As usual, Megan cuts right through the argument for a mortgage bailout plan, and with appropriate panache and snarkiness: