I know empirically that the bank created $300k when it created the -$300k,
The bank or whoever holds your mortgage, is on the hook for that money, albeit at a lower rate of interest that you are paying, so as far as BoA or Wells Fargo is concerned, they did not create the money. The feds did that.
As for you, well you are holding the house, and are no worse off than if you were paying rent. What is your beef, exactly?
Under a government which imprisons any unjustly, the true place for a just man is also in prison. Thoreau: Civil Disobedience (1846)
I was thinking as long as I have my hands up they’re not going to shoot me. This is what I’m thinking they’re not going to shoot me. Wow, was I wrong. -- Charles Kinsey
I never considered a difference of opinion in politics, in religion, in philosophy, as cause for withdrawing from a friend. Thomas Jefferson
Worrying about the "browning of America" is not racism. -- Faith
I hate you all, you hate me -- Faith
™ Version 4.2