What would you do if you were in Figg’s or Koellmann’s situation? What factors would you consider?
1. What would you do if you were in Figg’s or Koellmann’s situation? What factors
would you consider?
2. Do people have a moral obligation to repay money that they borrow, as Professor
Brenkert thinks, or is this simply a business decision based on self-interest alone, as
Professor White thinks?
3. “It is morally permissible for homeowners whose homes are under water to default on their mortgages even if they could continue to pay them.” What arguments do you see in favor of this proposition? What arguments do you see against it?
4. When it comes to paying your debts, does it matter whether you borrow money from a bank or from an individual person? Explain why or why not.
5. Suppose your moral principles imply that you should keep on paying your mortgage, but financial self-interest counsels you to walk away. How are you to decide what to do?
6. Repaying a loan is a legal obligation. Is it also a moral obligation? Explain why or
why not.
7. Are the banks responsible for the housing boom that enticed people to buy homes at inflated prices? If so, does this affect whether you have an obligation to repay your
loan? What about Professor White’s contention that the banks themselves care only
about maximizing profit?
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