Mortgage Bailout Insanity
Seeking to provide more aid to troubled borrowers, House lawmakers on Wednesday advanced legislation that would enable homeowners to shrink their mortgages in bankruptcy court.
http://www.fool.com/news/associated-press/2007/12/12/house-committee-approves-mortgage-bankruptcy-measu.aspx
This would push mortgage rates up and make home ownership more difficult for most Americans. How is this a good idea?