Straight from the Colbert report – about halfway through the clip in his “The Word” segment, Colbert refers to Roger Lowenstein’s NYT piece in favor of abandoning your mortgage obligations and sources pundits about sending the wrong message to your family. Of course banks placed a lot of faith in your word to pay – your honor – so much so that they gave you a free toaster and they…

…bundled your honor with other people’s honor, with other people’s honor, cutting those honors with securitized honor derivatives, etc. But that doesn’t mean that banks are responsible. Only we are?

This insane honor logic is worth listening too since its basically what happened.