Re: Economist nonsense Soc.Sec. and houses

Mason C wrote:
> On Thu, 20 Nov 2008 22:00:11 -0800, Peter Franks <none@[EMAIL PROTECTED]
> wrote:
> 
>> Mason C wrote:
>>> That is a failure of the unregulated free market -- overselling and 
>>> in many cases outright deception if not criminal fraud.
>> What is an example of the deception and/or fraud?
>>
> Deception:  telling people they could afford a house they *obviously* 
> could *not* afford.   

?

I've always assumed that was MY responsibility.  So is what you are 
saying that it is someone else's job to tell me what I can and can't 
afford???  If that is the case, I've never listened to or obeyed what 
someone else has told me to do wrt what I can and can't afford.  Please 
explain why I'm not in debt and live within my means?

> Fraud:  unrecorded verbal instruction at odds with the fine print.

?

What are these "unrecorded verbal instructions" you speak of?

Doesn't the fine print say that the fine print is the last word on an 
issue, verbal instructions aren't authorized nor part of the contract? 
That is what it says on most every one of my contracts...

>> How come I didn't get suckered into the deception and fraud when I 
>> refinanced several years ago?
> 
> I assume from what you say that you were not one of the "many cases."
> You were smart or lucky.  (I'm surprised by your question.)

Luck had nothing to do with it.  Smart, I don't know.  But I did read 
the contract and I did take personal responsibility for my actions.