A columnist in the New York Times Magazine argues that in our current economic climate, with rampant speculation, risk-taking, strategic bankruptcies, failures, and all sorts of other destabilizing and socially detrimental actions being undertaken by large corporations, homeowners have no “moral obligation” to stick with their underwater mortgages. Many people are choosing to walk away from their houses and mortgage payments, and I tend to agree that it is only fair for the little guy to play the same sort of games so popular among greedy hedge funds, investment bankers, and the rest of the people who have done so much to destroy our economy and hurt so many people.
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