I'm confused. Maybe one of the commenters on this site can help.

Corzine's actions effectively stole from the middle class to line his own pocket. This is textbook crony-capitalism. This is the stuff that the Occupy Wall Street folks are demonstrating against. Sure there are some crazies among them, there were crazies that showed up at TEA Party rallies, too.

So my question is this: if the readers and writers of this site are upset with Corzine and Co., and the folks of OWS are upset about this and other similar actions, why are we opposed to the OWS folks rather than coming together with them under a common cause - fighting this crony capitalism that's been spawned by the collusion of Big Government and Big Finance?

Mr. Hawkins,

I think your arguments are perfectly sound regarding the 10th Amendment, but your conclusion about Gov. Perry is all wrong. Perry does not have the courage you believe he has.

Case in point is the Traveler Dignity bill that he played a part in killing. The Texas legislation was such a threat to federal hegemony, that the federal government threatened a blockade of all air travel originating in Texas - the feds threatened an Act of War against the State of Texas! Lt. Gov. Dewhurst scuttled the legislation in the regular session, and Gov Perry waited to call the legislation in the special session until a point when its passage was nearly impossible. The Governor and Lt. Gov.'s actions are not examples of courage, but further evidence that our top two officeholders in the State of Texas are very slippery political operators who will continue to operate deceitfully and with the intention to obfuscate.

As the uniquely Texas idiom goes, Governor Perry is all hat and no cattle.

Just a point of clarification, and I apologize if someone else has already mentioned this:

Deflation is NOT a general reduction in prices. Deflation is a reduction in money supply. Since our money supply is based on debt, deflation is basically a reduction in available credit.

A mortgage is a contract. Mortgages very clearly specify what will happen when you make payments and when you don't make payments. When you sign a mortgage you agree to both conditions. You agree that if you make payments according to terms you will get deed to the property. You also agree that should you fail to make payments according to the terms the bank will get the deed to the house. So what everyone in this comment stream is suggesting is that we don't exercise the contractual option provided in the mortgage contract.

Personal responsibility is availing ourselves of ALL our contractual options within the mortgage contract as the situation merits. If it is in you and your family's best interest to walk away, then by all means do so. Just be sure you understand the terms of the contract for doing so.