I wonder about this too

Atrios finds himself wondering the same thing I have.

Still the question remains if, on the whole, those who were more prudent will come out ahead or if those who are defaulting on their home equity loans ultimately made the right decisions.

I have a strong moral bias to believe we should all honor our debt obligations. But, much like lawsuits and lawyers, I wonder if this bias isn't the result of authority figures preaching responsibility with no intention of living up to the same standards.

I mean, why should I feel obligated to pay Countrywide my full mortgage when they have shown no compunction about ditching their obligations? I mean this as a serious question. I have noticed that a commonality among many of the people now preaching responsibility is that it seems motivated entirely on avoiding their own shitty investments.