Site for Free Markets and Free People

Friday, January 09, 2009

Judges Become Bankers

A mortgage bill that is about to pass the U.S Senate would allow judges to single-handedly decide what is the appropriate mortgage rate and principal amount a delinquent borrower should have to pay.

Everyone should have bought a house way above their means in the past couple of years. Pretty soon a judge will lop off most of the mortgage that they can't afford anyway.