Thursday, October 02, 2008

VP Debate - Home mortgages

One comment that struck me as be amazing was Biden's suggestion that we should allow bankruptcy judges to adust the PRINCIPAL amounts on home mortgages......

So people get into trouble, they bought more house than they can afford and they are supposed to get a break by not just adjusting the interest rate (which I might be persuaded to support) BUT TO BASICALLY ELIMINATE PRINCIPAL AMOUNT!

I am sorry Mr. Biden but that is the quickest way to destroy this economy. If there is anything in this world that could be defined as redstribution of wealth more so than this I do not know what it is.......

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