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View Diary: Closely-Watched Court Decision Breaks Bad for Wall St. Has A Day of Reckoning Arrived? (154 comments)

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  •  Sorry I was the ONE attorney in (1+ / 0-)
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    FG

    a Commercial loan to spend 10 hours going through about 1000 pages to figure out that someone should not have been foreclosed on.

    Back in the day you had an argument. We inherited that idea. That you had equal bargaining power. You don't like the terms, you go elsewhere. Today? Not so much. They are what the law calls Adhesive. You are stuck with it because nomatter what you'll get the same. . . .

    Even if you're taking out a 20 million dollar loan you have no bargaining power.

    You think anyone actually reads everything they sign? Another fallacy the law should do away with.

    Bargaining power is flat out not what we have from English Common Law.

    Can you go into Macy's even and say "I think this shirt is worth 1/2" I'll take it? That's the idea those contract principles are based on. And that they'll listen not laugh. Maybe in 1812, not in 2013.

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