User 183397

1 Comment

    • ON: Fri Apr 25th 11:03 AM
      Commented on:
      6.5 Million Foreclosures; Is There a Behavioral Problem?
      Mallarde,

      "taking huge gambles subsidized by our tax code"

      BINGO!

      I love talking about CDO's and the Fed as much as the next guy but that is what this has ALWAYS boiled down to! While Mish is on the subject of behavior you have to wonder how much does the potential for walking away $500,000 in TAX FREE money sculpt speculator's decision making process? Given GAO figures show the avg. 401k is $29,000 ( which one has to wait until 59 1/2 to "tap" ) which would most prefer?

      ... Of course now even trying to introduce the topic of tax code reform at this point seems ridiculous to most but it's at the root of the cause whether or not most of us would care to admit it. Would 500K in tax free money change "my" life?! Nah...
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