well, the bad news is: your mortgage still lives!
certainly not the intentionally manufactured crisis we have now...
other entities would come in like vultures and ascertain what had value and pick that up...all the names and faces would change....that's the problem for the gov and private "power brokers"....
the big overseas investors from the socialist european nations would be in a panic....some would collapse...EXCELLENT!!!!! those greedy pigs have economies which rely upon making US dollars to subsidize their economic well being....(in a very real sense, the domestic US economy is the source of "confidence" behind the interface of world economies)
the chinese wouldn't be happy either....
Sox....this actually takes a long dissertation to explain....
but, money has no intrinsic value...."wall street" is simply a cash generator....no real goods and services....just money....that's potentially very bad.....and, add foreign markets and computerization....it's now "lethal"....because the system is cranking out money "hand-over fist" and the production of real goods and services is not in sync......in other words, the balance between the finacial sector and the intrinsic sector is upset....bubbles are created....
I actually wrote an article that was published online several months ago: "the Biggest Misconception of the 21st century"....and, it addressed the problem of computerization of the finacial markets, real-time dissemination of information, and the ingrained concept that money drives the economy....when in fact, it the intrinsic economy which gives money it's value....
that's why the economy is screwed up....the NECESSARY balance has been destroyed in the lust/quest to make $$$$$$$$
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