WaMu is dead...is my debt wiped out?

[fedup100]

Hmmm....how interesting that JP Morgan bought out WaMu.....just like they did with the banks durring the Great Depression....hmmmmm

They do not have the funds to buy anything, this is through your tax dollars being funneled to these bastards. When the air clears, I want all these big outfits busted up permanently.

 

[Sarge]

Just wait, you will be getting a letter from Chase and/or someone saying they will chase you down if you don't pay your WaMu debt.

 

[Deborah K]

Why the hell should any of us live up to our financial obligations and at the same time, bail out the rich???? I think we all should send our debts to our congressmen like a previous poster suggested. I think its brilliant! At the same time we should have a general strike!

 

[sratiug]

are you an idiot, of course you're not forgiven, not even demolishing all the CC buildings like they did in Fight Club will do it.

Are you sure? If I loaned you 100 dollars and then Mr. X gives me 50 dollars to "buy" my debt (impossible imo) and I kill myself are you going to pay Mr. X 100 dollars or laugh at him?

 

[wizardwatson]

Why the hell should any of us live up to our financial obligations and at the same time, bail out the rich???? I think we all should send our debts to our congressmen like a previous poster suggested. I think its brilliant! At the same time we should have a general strike!

Sure give it a shot!

http://www.scribd.com/doc/2064074/Cancel-Credit-Card-Debt-Defeat-Taxes

If contract law were strictly applied to our bankster cartel, what this lady did might reveal a fatal legal flaw for many who owe credit card debt.

I actually spent quite a bit of time and research learning about contract law, and the concept of "substance" in contracts. The fact that FRN's aren't actually money creates an interesting legal loophole for FRN based debt. I won't regurgitate here but its interesting subject if you have the time.

 

[Technocrat]

NO matter what you do in this society you automatically create new debt...Even if the fed didn't exist or there were no intervention when you get a new job, work, spend you create new debt. If it doesn't happen then the system starts to collapse...

Many people have woken up to some of the problems....But they still need to wake up to the entire problem of the price system. Every thing has to do with the "medium of exchange" that starts to break down in a high energy society and government only try's to stabilize it.

 

[Deborah K]

NO matter what you do in this society you automatically create new debt...Even if the fed didn't exist or there were no intervention when you get a new job, work, spend you create new debt. If it doesn't happen then the system starts to collapse...

Many people have woken up to some of the problems....But they still need to wake up to the entire problem of the price system. Every thing has to do with the "medium of exchange" that starts to break down in a high energy society and government only try's to stabilize it.

I think it has more to do with the fact that our system is set up to monetize debt. The federal reserve prints money out of nothing and loans it at interest using fractional reserve banking (loaning out 9 xs more than what they have on hand). How can a country ever pay back the interest when the only money is circulation is the money that has been loaned? It is a system that is set up to intentionally fail.

 

[Cali4RonPaul]

R.I.P WaMu

 

[Kludge]

Are you sure? If I loaned you 100 dollars and then Mr. X gives me 50 dollars to "buy" my debt (impossible imo) and I kill myself are you going to pay Mr. X 100 dollars or laugh at him?

I wouldn't cross Mr. X...