On Oct 26, 2010, at 20:39, Dan Minette <danmine...@att.net> wrote: > The second is that the bank who gave them the loan knew that they didn't > qualify for the loan, and had a high probability of eventually defaulting, > but the officers of the bank thought it was in their own best interest to > make the loan anyway. In that case, don't they have responsibility when the > borrowers follow the law when they no longer are able to make payments?
Actually, it seems that in many cases 1st bank packaged this type of loan up and sold it. Now the question is if the mortgagee defaults is the 1st bank morally obligated to pay off the buyer of the loan they sold? Or was it the loan buyers responsibility to know the amount of risk they were taking? I think we all know that corporations do not have moral obligations only legal ones. Corporations are legal constructs. So I guess one could argue that humans have moral obligations but corporations do not. (Somehow, I am must have made an error in reasoning here. This could be a whole new thread. Maybe we have a new way to define the difference between who is and is not a citizen? Learner _______________________________________________ http://box535.bluehost.com/mailman/listinfo/brin-l_mccmedia.com
