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Imagine what would happen if you didn’t have house insurance and your house burnt down. Would you expect the mortgage to be waved because the security (the hom
by Ensorceled 3y ago
Imagine what would happen if you didn’t have house insurance and your house burnt down. Would you expect the mortgage to be waved because the security (the home) was now seriously devalued?
- crazygringo 3y agoI agree with you, but in this analogy it was also the bank that set your house on fire in the first place. Which is what makes it less intuitive to separate the two.
- Ensorceled 3y agoWell, except the depositors chose to put their money in uninsured accounts.
- crazygringo 3y agoYes... I was agreeing with you. That's already the part of your analogy where you said "if you didn’t have house insurance".
- Ensorceled 3y agoI was disagreeing with your quibble in your agreement :-)