Monday, December 28, 2009

If Morgan Stanley Can Walk Away....

....Then there goes the moral argument against home owners doing the same.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aLYZhnfoXOSk&pos=5

This is a fascinating and poetic twist on the underwater homeowner walking away from their bad home purchases.

This really is not a default or foreclosure. Morgan Stanley is just handing over the keys to the banks.

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