It would not bother me at all, however, to default on a home mortgage. That money is in no way someones hard earned savings. The bank simply created it from nothing. In effect they are lending me stolen money and I have no problem defaulting on thieves.
You are contradicting yourself here. In order for something to be stolen, someone would first have to own it. However if something is created out of thin air then no one could have previously owned it.
There is also the fact that fractional reserve banking does not create money out of thin air. When a bank lends out money, they still owe the same amount of money to their depositors. If fractional reserve banking is able to create money out of thin air then why do we need the FDIC? Also why would a bank ever fail? Couldn't the bank just create additional money out of thin air whenever they run into trouble?
People are proud to declare bankruptcy because they feel that they are screwing over a bunch of crooks. Truth be told they are largely correct in this judgement.
I would disagree. I would say that people are 'proud' to declare bankruptcy because of the lower moral standards that our country has.