Originally posted by FlyersFan
Originally posted by dr_strangecraft
I am still trying to digest one of Joe Biden's comments. Where he said that judges should be able to change the terms of people's loans
both interest and PRINCIPAL.
That was a strange and/or frightening notion coming from him on this! I'd definately have to hear more from him on this. It just sounded wrong.
Thanks for bringing that up. I forgot about that, and it is a significant point.
This idea, on the surface, sounds insane.
Maybe I can get a judge to order a Casino to pay me back some money I lost gambling. That would be very nice! Or maybe I can get a judge to order GM
to pay for the depreciation on my car.
No. This idea is very dangerous. Unless there is fraud, a person has to pay the price that was agreed to. This would really really stress the banks
out unreasonably. I am no friend of the banking and mortgage industry, but this idea of Biden's is purely punitive.
I agree -- I want to know more about this idea. What was Biden thinking?
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