View Poll Results: Is there a moral obligation to repay money you borrow?

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  • If you borrow money, you are morally obligated to repay it.

    110 34.48%
  • I feel no moral obligation to repay loans I've taken out

    209 65.52%
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Thread: Are you morally obligated to repay a loan that you take?[W:461]

  1. #331
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    tacomancer's Avatar
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Papa bull View Post
    It's not a "moral obligation to an istitution". It is a moral obligation to do what you agree to do, to mean what you say and to live up to your agreements. It isn't about the lender, their morals or lack thereof. It is about YOUR morality. Or lack thereof.
    I do what I agree to do to those worthy of my word and honor and individuals generally are until they show themselves to be immoral (which is pretty rare in my experience). Most people are decent and good in personal dealings and I am quite happy to participate in that on am equal basis. This is as it should be.

    For example I am very loyal to my boss because he gave me a chance and promoted me. Plus he has taken the time to mentor me and help me become a better manager. I owe him a huge debt because it is largely because of him I have my current fortune and my family is secure. If you want to call that immoral or whatever, that's up to you. But the point is there is a difference between individuals and institutions.
    Last edited by tacomancer; 01-24-15 at 10:49 AM.

  2. #332
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Thrilla View Post
    I'm not even sure how national interest comes into play concerning foreclosures...
    There is a national interest in keeping homelessness as low as possible and home ownership rates as high as possible because neighborhoods with low ownership rates tend to suffer from a number of social ills (ex crime, substance abuse, etc)
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

  3. #333
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Thrilla View Post
    well, i wouldn't automatically consider a person immoral for defaulting on a loan....but those whom fraudulently take the loan out, or purposefully default even though they have the ability to pay... yeah.. i'd say those were bad people with bad characters... immoral.

    I am actually surprised that it's the more left leaning among us who are arguing their is no moral component in this type of business.
    In that case, it would be the fraudulent intent and actions which would be immoral, not the actual default.

    And the argument is not that there isn't any moral component in business or in loans. The OP made it clear that the question referred to those who took out mortgages and were later unable to pay. They had intended to pay back the loans, but circumstances rendered them unable to do so
    Last edited by sangha; 01-24-15 at 11:06 AM.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

  4. #334
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by sangha View Post
    There is a national interest in keeping homelessness as low as possible and home ownership rates as high as possible because neighborhoods with low ownership rates tend to suffer from a number of social ills (ex crime, substance abuse, etc)
    Exactly, national and societal interest guides my moral feelings and actions far more than some institution that only exists to make money.

    Thank you for mentioning that very important point.

  5. #335
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by tacomancer View Post
    I do what I agree to do to those worthy of my word and honor. This is as it should be.
    Situational ethics and moral equivalency are hallmarks of liberalism. You can rationalize that it is OK to cheat or lie and blame it on those you are lying to or cheating. It is a type of sociopathy that seems to be an essential aspect of liberalism. One of the great things about the Internet is that sometimes people will admit things in anonymity that they wouldn't be so quick to reveal face-to-face in real life. I think this thread will be illuminating to a lot of people reading it. It is insight into the mind and character of liberals.
    You can't reason anyone out of a position they didn't reason themselves into in the first place.

  6. #336
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Papa bull View Post
    Situational ethics and moral equivalency are hallmarks of liberalism. You can rationalize that it is OK to cheat or lie and blame it on those you are lying to or cheating. It is a type of sociopathy that seems to be an essential aspect of liberalism. One of the great things about the Internet is that sometimes people will admit things in anonymity that they wouldn't be so quick to reveal face-to-face in real life. I think this thread will be illuminating to a lot of people reading it. It is insight into the mind and character of liberals.
    It's cute you see it as rationalization. It is simply morality. One of the purposes of morality is to promote the good aspects of society and either remain neutral or push against the negative aspects. Solely for profits are an evil, but a necessary one given our current technological level, so they are to be tolerated but never thought of as a good because they conflict with higher priorities. It is as simple as that.

  7. #337
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by CanadaJohn View Post
    They are not options for abiding by the contract. That's stupidity of the highest order. They are options to protect the lender from immoral people whose word is worthless and who choose to walk away from their obligations. Unfortunately, as your posts and this thread proves, lenders are well away that in today's society the immorality you espouse is rampant and so they legally protect their interests.
    Your argument is stupidity of the highest order. The contract clearly states that transferring ownership of the property to the bank is one way to satisfy the loan. IOW, the agreement offers the borrower to ways to satisfy the loan - with cash, or with the property itself.

    There's nothing immoral about the borrower choosing an option that the lender agreed would satisfy the loan
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by tacomancer View Post
    Exactly, national and societal interest guides my moral feelings and actions far more than some institution that only exists to make money.

    Thank you for mentioning that very important point.
    Your comments actually reveal that self-interest guides you more than anything else and that morality really has no role at all in it for you. Funny to hear liberals assert that conservatives think "here's to me and f*** you". Turns out that is some hardcore projection.
    You can't reason anyone out of a position they didn't reason themselves into in the first place.

  9. #339
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by CanadaJohn View Post
    They are not options for abiding by the contract. That's stupidity of the highest order. They are options to protect the lender from immoral people whose word is worthless and who choose to walk away from their obligations. Unfortunately, as your posts and this thread proves, lenders are well away that in today's society the immorality you espouse is rampant and so they legally protect their interests.
    So when it happens in the free market, your thoughts are???

    Also, if we're getting into the practice of talking about morality in financial decisions, is now a good time to bring up worker rights and worker pay?
    Ted Cruz is the dumbest person alive.

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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Papa bull View Post
    Your comments actually reveal that self-interest guides you more than anything else and that morality really has no role at all in it for you. Funny to hear liberals assert that conservatives think "here's to me and f*** you". Turns out that is some hardcore projection.
    Heh. If you say so. I will continue doing what is right and you can continue not understanding it.

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