Quote:
Originally Posted by Dueller
Paul, while I certainly understand your point (and share your morality sentiments), would you not agree that some of our most "successful" entrepreneurs routinely walk away from sour business deals rather than honoring their original commitment? Many of these folks use bankruptcy and default as nothing more than a business tool. Trump comes to mind.
That being said, more than one of successful business people I personally know have gone broke, lost fortunes but always seem to land on their feet and come back even wealthier.
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Again, business contracts are different from a mortgage contracts...until now. Business contracts are the essence of competition; mortgages, at least in the old days, were based on cooperation, a willingness to serve the contract by both parties...weapons of mutual success.
It is quite unfortunate, in my mind, that the ethos of the art of the deal has sunk into the most basic contract, a house...a house has never been an investment leader, rather a small part of the portfolio. That a house got elevated in the investment matrix speaks volumes about financial amateurs. Again, dig the ditch first, based on time honored investment principles.
Believe me, I am no Pollyanna in finance and business...but I think we are into Apples and Oranges where the OP was headed.
Dueller, you and I can seek advantage on each other in a business deal, but if either of us defaults, at least in my world, that is a death knell for the loser in terms of future relationships.
Reputation should matter, it does to me.
Not arguing...you are another poster I respect.
