Wednesday, March 4, 2009
Once a Libertarian I carpooled with tried to talk me into mortgages as rock-solid investments: “My mortgage is my bank account!” he chortled, smiling. “But the bank actually owns your house,” I argued, “If you lose your job, the bank will take your bank-account-house. What will you have left then?” In his scenario, it could never happen. In a while, the computer company we both worked for was taken over twice. I wonder if he still works in high-tech, & still has his same suburban house?